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MLB Betting Odds.
If you??™re here, you??™re curious about MLB betting odds, and you want to know exactly to make money off MLB betting. You will need to first understand how the odds work, and you can do a few simple calculations before placing a bet to determine your probability of winning, as well as your estimated winnings. Many beginners don??™t do these extra steps, yet it can prove to be helpful in the long run.
Congratulations to the Los Angeles Dodgers on winning the 2020 World Series , taking the series 3-1 against the Tampa Bay Rays!
The odds to win the MLB World Series are now available . The odds to win the World Series are likely to adjust and as they do we'll be sure to update this page. The odds were last updated on February 3, 2021:
The 2020 season has finally begun after a delayed start to the season to the COVID-19 pandemic, and all eyes are on the MLB odds board. MLB odds are typically presented in the American odds format in North America, which is different from the decimal or fractional odds you may see on some European sportsbooks.
During the regular season, you can find plenty of MLB odds on any given game , and there are over 2,000 in a regular-season - so you can imagine the magnitude of betting options available in a season. There are also plenty more betting options on the Postseason and the World Series as well.
MLB odds are available throughout the regular season, the MLB Playoffs, and the MLB World Series.
How to Read MLB Odds.
As we mentioned above, American odds are the format of choice in the United States , so we will focus on that specific odds format for the sake of explaining how odds work. When looking at the positive number, a good trick is that it represents how much you would win on a $100 wager. Conversely, the negative number is how much you would need to wager to win $100. This is just an easy way to look at American MLB odds, and to quickly calculate your winnings - you can bet any denomination.
In this case, a $100 bet on the Tigers would pay out $300 , and a $120 bet on the Twins would pay out $100. Of course, your initial stake is returned to you as well, so you??™d come out with $400 and $220 respectively.
MLB Betting Odds: Calculating the Probability of Winning.
When it comes to calculating the probability of an MLB team to win a game - there isn??™t a rule yet for American odds because it is one of the newer odds formats, so to calculate your probability of winning your MLB bet, you will need to convert your odds to decimal.
For negative odds (favored MLB team??™s odds) -300:
1 - (100 / 300) = 0.6.
Once you figure out your decimal odds, we will go through and calculate the implied probability of that bet being a winner.
Decimal MLB Betting Odds.
Decimal MLB odds have always been much more prevalent in Europe, and really - everywhere until American odds were introduced. There have been no advancements for probability calculations, so we need to convert American odds to decimal.
To calculate your potential winnings when using decimal odds, you take your decimal MLB odds, multiply them by your stake, and then subtract the stake.
8.0 odds would be calculated as (8.0 * $10) - $10 = $80 in winnings 1.4 would be (1.4 * $10) - $10 = $4.
To calculate your implied probability of winning, you will need to divide one by your decimal odds which is 1/ 8.0. This gives an implied probability of 12.5%. Implied probability is an important part of your MLB betting strategy and can help you determine whether your bets are worthwhile in the long run.
Fractional MLB Betting Odds.
Remember your grade school math class and learning fractions? Well, hopefully, you paid attention because you??™ll need them for betting on fractional MLB odds!
When looking at fractional MLB betting odds , if you??™re looking at a fractionated number, like 10/1 on the MLB odds board, this means the team has a ten to one chance of winning the game. This way, you can also calculate their probability of winning - from the fractional MLB odds.
The formula looks like this: B/(A+B) = %
For example, if the MLB betting odds are set for a game and the team has 8/1 odds to win, there is an 11% chance they will win the game.
So, how much will you win on fractional MLB odds ? All you need to do is look at the fraction: for every value on the right side of the fraction you wager, you will win the left.
So 7/1 odds - for each $1 wagered, you will win $7.
1/6 odds - for each $6 wagered you win $1.
Top MLB Betting Options.
Finally, we can get into all the nitty-gritty - all of the top MLB betting options that are available on your online or retail sportsbook. These are the most popular betting options, so don??™t think that these are the only ones available.
MLB Moneyline Odds.
The MLB moneyline bet is the easiest betting type to understand, and many beginners rely on this type when starting out. All you have to do is pick which team will win the game. That??™s all you have to do.
If the Seattle Mariners and Los Angeles Angels are playing and their odds look like this:
If you plan to bet on the Mariners, you can calculate their probability like so:
Now that you have your decimal odds, you will calculate your implied probability by dividing 1 /2.75 = 0.36 (3.6%)
That??™s a pretty low chance of winning, but let??™s calculate the winnings on a $50 wager. (2.75* $50) - $10 = $87.50 in winnings.
MLB Point Spread Odds.
While called point spreads in pretty much every other sport, the point spread in Major League Baseball is actually called a ???runline??™. There is no real difference, it??™s just that the MLB has runs versus points on the scoreboard so they took the opportunity to make it their own. The NHL has a similar issue - theirs is called a puck line.
MLB runline bets give the underdog an imaginary lead before the game even starts. This will level the playing field a bit and give the underdog an opportunity to cover the spread.
The runline is essentially how many runs a team must win or lose by , depending on which side you??™re betting on. If you choose the favorite, their spread will be a negative number, and they must win the game by that amount. If you chose the underdog, they must lose by less than that number or win the game.
The MLB runline odds can be calculated like any other wager, most times the odds will be relatively low, as you took some of the risks out by choosing the point spread.
MLB Totals Odds.
If the game is getting closer and you aren??™t necessarily leaning toward either team, you can always bet on the MLB totals . Betting the over/under on an MLB game is easy, and another very popular option. You never want to bet on a team just for the hell of it, so you can always bet on the totals when you aren??™t sure which team to choose.
When betting on MLB totals, the oddsmaker will set the line, and your job is to try to predict the total number of goals scored collectively by both teams. The lines can be any number but are usually in the 7-12 range - however many runs the oddsmakers believe will be run in the game.
MLB Betting.
As the oldest professional sport in North America, Major League Baseball has a rich history and there is no doubt that sports betting has entwined itself into a sport that??™s been around for 117 years. MLB betting and odds have been available for decades - legal or not, and to this day the MLB is our main summer focus as sports bettors.
There are over 2,430 Major League Baseball games played during the regular season , with each team playing 162 games. This is double the output than you??™d see in the NBA or NHL and makes for plenty of betting opportunities during the summer months, and we aren??™t even counting Spring Training or the postseason.
The MLB is made up of 30 teams, with 15 teams in the National League and 15 in the American Leagu e. All but one team reside in the United States, the only Canadian team is the Toronto Blue Jays. The MLB started in 1903, though historically, the founding of the National League can be dated back to the 1860s.
Best Online Sportsbooks for Betting on the MLB.
Now that you have a good idea of how to bet on the MLB , we can look at where to bet on your favorite professional baseball teams. Above we have listed for you the most important MLB betting sites.
Even though your state may have legalized sports betting already, there are still many that haven??™t passed laws or updated legislation yet, so offshore sportsbook s are still the best option for betting on the MLB.
Finding a reliable online sportsbook that offers the best MLB betting odds , MLB bonuses and a variety of deposit options should be your main priority. All sportsbooks are different, so shopping around for the best MLB betting odds and the best features are of the utmost importance before betting on any baseball games.
How the MLB works?
As we mentioned, the 30 teams are divided into two leagues: the American League and the National League. Each is then divided into three divisions of five teams - the East, Central, and West.
After the regular season ends (after the first Sunday of October), ten teams enter the postseason playoffs. Six of the teams are division champions with the best record, and four wild card teams from their respective leagues. The wild card teams play against each other and the winners participate in the division series play.
The winners of the best of five-game Division series move on to the American and National League Champion Series. These are best of seven series and the winners are champions of their respective leagues and pennant winners. These two pennant teams move on to play in the World Series.
An average MLB season can provide countless betting options for sports bettors and can get overwhelming to say the least - so let??™s go through our MLB betting guide , and familiarize ourselves with popular betting options and how to bet on the MLB.
How to Bet on the MLB.
Let??™s take a look at MLB betting odds first:
MLB Betting Odds.
MLB odds are those numbers you see next to a team name, whether they??™re positive or negative. This denotes how likely a team is to win the game. With the positive numbers indicating that the team is less likely to win , and the negative number represents the favored team that is most likely to win.
MLB odds represent how much you would need to bet to win a certain amount of money . In the case above, you would need to bet $200 on the Red Sox to win $100. You can bet any denomination, but that bet isn??™t really worth your time unless you were 100% sure the Red Sox would win the game. If you bet on the Yankees, you would need to bet $100 to win $300 plus your initial stake.
Popular MLB Betting Options.
Now that we??™ve covered what MLB odds look like, let??™s look at popular baseball betting types that you will be able to choose from when betting on Major League Baseball.
Betting on the MLB Moneyline.
The easiest betting type you can place on any given MLB game is the moneyline. It??™s easy to understand and great for new bettors. Your only job is to determine which team will win the game. We??™ve outlined a basic moneyline bet above, let??™s dig in a little further:
If the Red Sox and Yankees are playing and you believe the Red Sox will win, you select the Red Sox and you??™re good to go. Ensure you review the odds and the pregame matchups to ensure you do plenty of research before making your bets.
Let??™s look at an example:
We changed the numbers around to give you a different perspective. The Red Sox are still the favored team, with -120 odds. A $120 wager, with the Red Sox winning, would pay out $100 plus your initial wager. The Yankees are still the underdog, and if they upset the Red Sox and win, a $100 wager would yield $450 plus your initial $100.
Betting on MLB Point Spreads.
Point spreads in the MLB are commonly referred to as the ???runline??™. It is the exact same as any other point spread, it just goes by a different name, you may see puck lines in NHL - it??™s the same thing in baseball. Spreads are popular throughout all professional sports, but MLB runlines can have really great odds depending on the game.
Point spreads essentially give the underdog team an imaginary head start, meant to level the playing field in games that are one-sided. Your sportsbook has expert oddsmakers that will decide who the favored ball team is, and determine the spread based on how those two teams match up for the game.
The MLB runline shows us how many points a sportsbook believes a team must win or lose by , depending on which side you??™re betting on. If you choose the favored team, their spread will be a negative number, and they must win the game by that amount of runs. If you choose the underdog, they must lose by less than that number of runs or win the game.
Betting on MLB Totals.
When looking at the MLB oddsboard, and you can??™t decide which team to bet on, betting on the over/under or the totals can be a great opportunity to still get value out of an MLB game. Totals betting is quite simple, and you don??™t have to choose one team over another - you simply have to decide if the total number of runs scored by both teams collectively will be over or under your chosen oddsmaker??™s line.
If you have the Arizona Diamondbacks versus the Colorado Rockies, and the total is set at 12, you will need to decide if you think both teams will score more or less than 12. If both teams easily get over six runs per game, that should be an easy bet to place, and you??™d take the over. Also, take into account that the game can go into extra innings if tied, so this could makeovers extra juicy.
Betting on MLB Props.
Prop bets or proposition bets as they??™re commonly referred to as are the more fun bets associated with any given MLB game . Props are unusual circumstances or happenings that don??™t have anything to do with the outcome of the game. You could bet on a certain player to hit a home run or grand slam for example.
Prop bets are just for fun, and shouldn??™t be taken too seriously. The best online sportsbooks offer a huge selection of props per game , providing a much greater variety than your neighborhood retail sportsbook.
Betting on MLB Futures.
MLB Futures are extremely popular in the early or middle season because they offer huge value with higher risk. Betting on MLB Futures means you are placing a bet on which team will win an event outcome in the future - sometimes even months in advance. As soon as the World Series Champion is announced, sportsbooks release the following season??™s futures.
The main MLB Futures that sports bettors tend to focus on are the Winners of the World Series and the pennant winners. Predicting if a team will win the World Series months before it happens can turn into a great payout in the long run.
Let??™s use the 2019 season for our example.
What Are The Current MLB Standings.
Scan the standings below to help form your long-term betting strategy. Dissect the analytics and form your betting strategy well in advance.
Look for mismatches, like a team playing a day game following a night extra-inning game, or perhaps an afternoon game following a day-night doubleheader.
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