Betting on baseball continues to grow quickly and is expected to be a $1.5B regulated betting market for the 2019 season. The main reason why betting on baseball is becoming popular is the vast frequency of regular season games (2430 in MLB vs. 256 in the NFL).
There are a variety of bets available to make on a baseball game, but backing a team on the money-line is easiest baseball bet to understand as you simply pick one team to win.
In each MLB game there is a favorite and an underdog. The favorite is the team that the oddsmakers project to win. Their odds are represented by a “minus sign” followed by a three digit number (Phillies – 150).
The underdog is the team the oddsmaker’s project to lose and their team odds are represented by a “plus sign” followed by a three digit number (Mets +130).
Here’s how the betting works in this example. Bet/risk $150 on Phillies (the favorite) to win $100 or bet/risk $100 on the Mets (the underdog) to win $130.
Click here to get more details on money-line returns.
The sportsbook oddsmaker uses a variety of data and stats to set the line, however baseball odds are predominately determined by the starting pitchers.
For instance, when a pitcher like the Phillies Aaron Nola (with a record of 17-6 in the 2018 season) is the starting pitcher, the Phillies will most often be the favorite.
Enjoy this upcoming baseball season and swing by your favorite sportsbook on the way to the ballpark to bet on your favorite team…and pitcher.
