MLB Moneyline Betting Odds Explained. Betting the moneyline on Major League Baseball is simply betting on the straight up winner of the game. There is no run line, there is no point spread. If you think the Dodgers are going to beat the Padres, you bet on the Dodgers to win the game outright.
How much that bet will payout though, depends on the odds the sportsbook gives you, which is where it gets tricky. Odds can be positive or negative. Negative odds indicate the favorite and positive odds indicate the underdog. Bookmakers adjust baseball betting odds so they can make sure they profit off any bet and stay in business. Part of gambling is understanding that books are in it for the profit.
+130 Odds: 43.5% / 103.5% = 42% -150 Odds: 60% / 103.5% = 58%. 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 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. 1/(8+1) = .11 (11%)
Baseball Odds Explained. The big board at any Vegas sports book is a sight to behold. A slick cross between the New York Stock Exchange and a McDonald's walk-up menu, the boards are updated moment to moment and bet to bet, giving a sports gambler all the data he needs to make a smart bet. Sports Betting Odds Explained.
Baseball Totals Explained Total The Total betting line is also referred to the Over/Under Total and in this example it is 8½ O -120. For you to win your wager the Total runs from both teams would have to be 9 runs or more. The payout odds of -120 odds means that for every $120 bet pays out $100. Baseball Team Totals Explained
Reading Baseball Betting Odds There isn’t much flexibility when it comes to odds in baseball, as every game comes with a 1.5-run line (spread) attached to it. In these type of bets, the favored team has to win by two runs or more whereas the underdog has to lose by one run or win the game outright.
MLB odds are created to draw equal action on both sides of an MLB betting line. Ideally, a sportsbook receives equal betting volume on both sides of a Major League Baseball bet, and then the sportsbook will make five to 10 percent on the juice or the “vig”, win or lose.