Want to hit a home run with your bets? Learn the basics of baseball betting odds!
If you’re reading this article, you’re probably someone looking to earn some money out of their favorite pastime. Baseball is one of the favorite sports watched by millions of spectators. According to stats, “The Texas Rangers won the 2023 World Series against the Arizona Diamondbacks in five games, drawing an average of 9.11 million viewers.”
Baseball betting stands out because of the unique trends you can track, like umpire tendencies, team streaks, field conditions (turf vs. grass), and pitcher matchups (righties vs. lefties).
Unlike basketball or football, where point spread can dominate the conversation, baseball betting lets you zoom in on just the game’s winner. For instance, betting on underdogs can be highly profitable — hitting 60% of your baseball bets can feel like hitting 75% in basketball or football due to those large payouts on the underdog bets.
But before you jump in and start betting on your favorites, you must learn how baseball betting works and explore betting strategies that will change the whole game for ya.
In baseball betting, understanding how favorites and underdogs are represented in the baseball odds is essential. Favorites are indicated by a negative number with a (-) sign and underdogs are shown with a positive number with a (+) sign.
Let’s take a look at different ways you can bet on baseball.
The money line is the most straightforward way to bet on baseball. You’re simply betting on which teams will win the game outright.
If the New York Yankees are -140 against the Baltimore Orioles at +130, you’d need to bet $140 on the Yankees to win $100, whereas a $100 bet on the Orioles would net you $130 if they pull off the upset.
Run lines in baseball are like point spreads in other sports. They give the underdog team a little help by adding runs to their score, while the favorite team has to win by a certain number of runs for bets to pay off.
If the Rangers are -1.5 against the Diamondbacks, they must win by at least 2 runs for your bet on them to pay off. If you bet on the Diamondback at +1.5, you win if they lose by 1 run or win the game.
When it comes to betting on MLB, you can place a wager on the total runs scored by both teams in a game. You’re basically predicting whether the combined score will be over or under a specific number set by the sportsbook. It’s a great way to get in on the action without worrying about which team comes out on top.
If the total is set at 8.5, and the final score is 5-4, the combined score is 9, so the “over” wins. If the score is 4-3, the combined score is 7, “so the “under” wins.
In addition to the standard bets mentioned above, there are several other ways to make money betting on baseball.
It focuses on the score after the first five innings of the game. This type of bet is useful when you trust the starting pitcher but are concerned about the bullpen’s performance.
If the Ranger’s starting pitcher is performing exceptionally well, you might bet on them to lead after five innings without worrying about their later innings.
Bets can depend on whether the listed starting pitchers at the time of your bet actually begin the game.
These are more specialized bets on specific events within the game. You might bet on whether a player will hit the home run or if there will be a run scored in the first inning.
Parlays allow you to combine multiple bets into one for a higher payout. While parlays can offer large payouts, they also come with increased risk.
If you bet on the Yankees to win at -150 and the Dodgers at -120, both must win for your parlay to pay off.
Here are some tips for making profitable bets during the MLB season. After a tough baseball betting stretch, it’s easy to wish for football season, but playing smarter can turn this around.
There are two mistakes that you must avoid to win your bets.
Many bettors fall into the trap of trusting outdated trends based on historical performances. The turnover in team rosters and pitching rotations makes past statistics irrelevant. Focus instead on the current matchups, particularly the performance of batters against specific pitchers.
Bettors often get caught up in shifting their betting strategies based on trends rather than evaluating each game individually. The odds rarely shift significantly in baseball, so avoid making bets based on generalized trends.
The introduction of a pitch clock and larger bases are significant changes for the 2024 season. These adjustments could lead to more mistakes by pitchers and batters early in the season, resulting in higher scores. Look for overs in early-season betting, particularly on lower totals (like 6.5 to 8.5 runs).
The ban on defensive shifts may benefit hitters, particularly ground ball pitchers who might struggle against this new landscape. As a strategy, consider fading ground ball pitchers while supporting fly ball pitchers, as they may fare better under the new rules.
Now you know how baseball betting odds work and how to play it smart. You can place bets on money lines to pick the outright winner, run lines to give underdogs a little boost, or totals to guess the combined score of both teams.
Instead of sinking money into favorites, consider betting on underdogs for potentially bigger payouts. Be cautious of outdated trends; the game is changing constantly. With new rules for the 2024 season, it's the perfect time to rethink your betting strategies. So, put on your baseball caps and enjoy betting!
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