- Baseball Betting Odds Explained
- Betting Baseball Odds
- Sports Betting Baseball
- Baseball Betting Odds Explained
- Mlb Betting Explained
- Baseball Betting 101
The point spread is such a ubiquitous part of sports gambling that it has become fodder for pundits and fans who would never place a wager. “Notre Dame is giving up 6 points to USC,” someone might say. “I didn’t know that USC was looking that good this year.”
Instead of judging whether they think the numbers are correct or misguided, people are more likely to simply accept what Vegas has to say. The spread becomes just another prediction.
A puckline is what a spread is called in the NHL, while a runline is associated with MLB betting. In both cases, the spread is almost always -1.5 for the favorite and +1.5 for the underdog, however, the betting odds fluctuate a lot more than in NBA or NFL point spreads because the spread doesn’t usually change. For lower-scoring sports, the point spreads will be low (often -1.5) but the odds on each side will be different, because it’s harder for a baseball, soccer or hockey team to win by multiple goals. For example, you could get paid +150 betting Yankees -1.5 against the Red Sox, and have to risk -200 for Red Sox +1.5 in that same game. The most important thing to know about betting on sports is that it’s fun. And it’s always been fun. Well before the legalization of sports betting in 2018, which set off a boom in the United.
Baseball wagering is unique in that there is no traditional point spread set for a ballgame. Instead, sportsbooks focus on run totals, the run line, and, most commonly, the money line (ML).
When you wager on the ML, you are picking who you think will win the contest outright. It doesn’t matter how many runs a team scores or how many runs they win by, they just need to score more than their opponent.
Run Line Betting in baseball almost mimics NFL Spread Betting exactly, which is the most popular type of football betting. The line for baseball run lines is 1.5. With a 1.5 run line you will be able to place a wager on the favored team to win by 2 runs or more, or the underdog team to lose by 1 run or to win the game. Dec 26, 2019 If you were betting on the Patriots and their 3/1 odds, you would win $3 for every $1 you spend. So if you bet $50 on the Pats and they ended up winning the Super Bowl, you’d win $150 (plus your.
This, of course, comes with a catch. A sportsbook is not going to give the same odds to win between a division-leading team with their best starter on the mound and a team at the bottom of the division throwing a bottom-of-the-rotation pitcher.
How to Read MLB Baseball Money Lines – Basic Explanation & Definition
What oddsmakers do in lieu of the point spread is to weigh the moneyline with heavier odds on the favorite. This is an example of what the numbers on a typical ballgame might look like:
- Texas Rangers (-150)
- Oakland A’s (+130)
The Rangers are projected to prevail. The favorite in the match-up will always be the negative (-) number, while the underdog is always positive (+), just like the numbers work with point spreads.
The easiest way to factor the risk vs reward is in terms of $100. In the example above, the (-150) means that you’d need to risk $150 to win $100 on the Texas Rangers. This means if the Rangers prevail, you will be paid $100 (plus your initial $150 investment), however, if the Rangers lose, you lose $150. You must increase the amount you risk on Texas because they are handicapped as the team most likely to take the game.
As for the A’s, at (+130), that number tells you that you can risk $100 to win $130 on them. A winning wager on Oakland gives you $130 (plus you’ll get back the $100 you bet), while a losing bet on the A’s would only cost you $100.
Learn About Baseball Line Prices: Dime Line vs 20 Cent Line
In the example above, and at most sportsbooks, you’ll have what is called a 20 cent line. All that this means is that the absolute value of the favorite price is 20 cents more than the underdog price (150 – 130 = 20). With reduced juice or dime line odds, you’ll get a 10 cent difference. On the very same game, a dime line book like 5Dimes would set the prices at -140 and +130 (140 – 130 = 10). This definitely gives you an edge simply because it takes away some of the built-in vig the book uses to calculate their odds. More on this to come.
When it comes to the money line can help to think in terms of probability. In other words, how likely is it that one team will beat the other? This is the foundation of baseball betting and is important to understand before really understanding the money line.
Convert Money Lines to Percentage
There are two formulas you will need to convert baseball betting lines into probability. The formula you use depends on whether the line is positive or negative.
Example: Money Line = +130
Example: Money Line = -150
Understanding Vig/Bookmaker Margin: Calculating the No-Vig Line
The astute bettor will notice right away that the probability on each side of an MLB game does not add up to 100%. This is because there is a built-in vig or edge for the bookmaker that helps them make their money. To get the true probability for each side of a game, you need to remove that edge.
Start by adding the two probabilities together. In our example, we had 43.5% + 60% = 103.5%; 103.5%. From the 103.5%, the 3.5% is the estimated vig on this pair of odds (some books do adjust differently on favorites versus underdogs, but we do not need to go into that in detail at this point). We can then take each percentage and divide it by the combined percentage to give us the true probability for each team.
In this matchup, the line tells you that in a fair (no vig) market the underdog has a 42% chance of winning and the favorite has a 58% of winning. This is relevant because as you start to make predictions, you will come up with your own probabilities for a matchup and compare them to the available odds to see whether or not your prediction has value based on these fair market odds.
How to Calculate MLB Baseball Moneylines for Betting Risk & Reward
If you aren’t betting exactly $100 per game, it’s easy to calculate your risk/reward by converting MLs to decimals and multiplying those numbers by your wager amount. A couple of examples:
- If the ML is (-134) and you want to wager enough to collect $35 on that team, you must convert the ML to -1.34 and multiply by $35, which equals $46.90; the amount that is needed to risk on a favorite of -(134) to win $35.
- If you’re looking to bet an underdog of (+172) and have $47 available for a wager, then calculate 1.72 x $47 = $80.25, which is the amount you could collect on a (+172) underdog with a $47 bet.
Using Major League Baseball Odds to Your Advantage
The great part about the ML is that when you bet on underdogs, you can decrease the percentage of games you need to pick correctly to show a profit. For example, if you wager on 100 games with an average line of (-130), you would need to score on 58% (58 of 100) of your bets just to turn a profit, betting $100 per game. You should be paid out $5,800, but lose $5,460 on these bets, giving you a total profit of $340.
Now, looking at a situation where you bet on mostly small underdogs, say an average line of (+115) over 100 bets, you would only need accuracy on about 47% of your picks (47 of 100) to show a profit. You should receive $5,405 in this case while losing $5,300, a profit of $105. Say you can up your winning percentage to 50% at an average money line of (+115). If you are able to do that, you should instead collect $5,750, while losing $5,000, a profit of $750.
Remember that pitching is still the ultimate factor in making your picks and predictions. But a club that recently won a low-scoring outing as a ‘dog is dangerous and almost never a bad wager. Once a team has proven it can small-ball grind its way to upsets of more talented clubs, they carry more value than a squad that got lucky with 5 homers against the Yankees.
Underdog Betting Equals Value In MLB Wagers
As you can see, winning bets on underdogs can add up quickly. Sportsbooks are, of course, well aware of this, but because most people lean toward favorites and not underdogs, they don’t really care. Like a grocery store putting its sweet snacks at toddler-eye level, the books know that some people are wise to their strategy – but enough of a % of shoppers won’t be. Don’t be taken advantage of. Take advantage!
There are few sure-fire handicapping systems that lead to sustained profit in any sport. NFL wagering, for instance, can be a supreme challenge due to its volatility and the sheer amount of action leveling out the lines. The NBA can be a bear due to “garbage time” and other factors that affect the Over/Under.
Not to say that a cash player can’t make money over time wagering on those sports, but when you find a system that is proven to work in a sport where lines can’t be adjusted too much (due to being set in the morning and paid off by night), then it’s never a bad idea to learn those tactics – even if you don’t always adhere to them.
The numbers above show that if managing to choose your picks on the diamond wisely and take as many high-value underdogs as you can, you will be well on your way to a profitable summer.
Image source: Nick YoungsonCC BY-SA 3.0Alpha Stock Images
Understanding all types of odds at betting sites is crucial if you want to earn some profit at sportsbooks. Depending on a betting site, you can meet three types of odds – American, Decimal, and Fractional. To learn about the peculiarities of each type, here you have all sports betting odds explained.
Sports betting is extremely popular across the globe. As it has invaded all the countries, numerous international and local-oriented sportsbook sites emerged. Depending on the sportsbook and their own location, punters can meet three types of odds: American, Fractional, Decimal. Understanding the difference between them is important as you have to know whether you are wagering on a likely-to-happen event or not. Thanks to online betting guides for beginners, now you have everything about sports betting odds explained.
You can set up all types of sports betting odds at Vbet
All sports betting odds explained
So, there are three popular types of betting odds – American, Fractional, and Decimal. Predictably, American odds are mostly used at US-based online sportsbooks. Fractional odds are frequently met at British and Irish betting sites. Decimal odds are popular in European countries, Canada, Australia, and New Zealand.
Regardless of the area covered by your favorite sportsbook, it is important to know the difference between all types of odds. The ability to read odds is helpful when you want to wager on events that are covered by international sportsbooks. So, here you have all sports betting odds explained one by one.
To read American betting odds (or money line odds) you need to know how to differentiate them from the others. Luckily, American odds are easy to reveal as they are written with + and – before the number.
A minus sign (-) is used for the favorites. It indicates the amount of money you have to wager to win $100. At the same time, odds for underdogs are marked with a plus sign (+). They indicate the amount of money you can win for every $100 bet.
For example, you have +385 odds on Detroit Lions to win. To earn a $375 profit from betting on DL aka underdogs, you need to wager $100. If the team wins, you will get back your stake plus $385 – $485 in total.
If you have -175 odds on Detroit Lions to win, the situation is the opposite. To win $100? You need to wager $175. If the team wins, you will get back $175 and earn an extra $100 – $275 in total.
Baseball Betting Odds Explained
Now you have Fractional sports betting odds explained. You can recognize this type of odds thanks to a slash sign (/) or a hyphen sign (-). According to the online betting industry news, Fractional odds are the most popular across the globe. Topbet mobile download.
So, if you see 5/1 or 5-1 at a sportsbook site, be sure that you have found Fractional odds. How to read them? In betting, 5/1 or 5-1 means that you win $5 on each $1. The bigger the number on the right, the more winning chances a team has.
For example, let’s suppose that Man City has 10/1 odds to win their next match. As they are underdogs, you will get $100 for each $10 you bet on the club. Additionally, you will get back your $10 stake making your total winning sum $110.
Betting Baseball Odds
Now, let’s suppose that Man City is predicted to win their next match with 10/11 odds. It makes them favorites, so you will receive only $10 for each $11 you bet (plus your stake is back).
Sports Betting Baseball
Baseball Betting Odds Explained
Finally, Decimal sports betting odds. After learning them, you can go and check the best online sportsbook deals this month, but first, let’s see how to read the Europeans’ favorite type of odds.
Decimal odds are probably the easiest to understand. After looking at them, you will immediately reveal underdogs and favorites. Usually, Decimal odds are written with a dot (.) – 1.25, 5.00, 10.70, etc. The bigger is the number, the fewer winning chances there are.
How to count your possible profit? Simply multiply your stake by the odds. For example, you have 1.50 odds on Taylor Swift to win Grammys for the Best Album this year. Low-numbered odds make her favorite, so you will get $150 ($100 x 1.5) for each $100 stake with $50 as a net profit.
Mlb Betting Explained
At the same time, you can bet on Ms. Swift aka underdog to win the award for Best Collaboration. With her 7.00 odds, you will get a $700 profit if your $100 stake is successful. Any questions?
Baseball Betting 101
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