Know Your Odds & MLB Betting Lines
It’s our job to bring you the best online sportsbooks designed for those living in New York State.
Our team comprises betting veterans and sportsbook specialists who know the inside information you need to bet smarter. We have everything covered, from betting on the bullpens to betting on the latest MLB World Series odds.
If it’s honest advice and expert guidance you want, you are in the right place. If you are new to the sport or betting in general, how about scrubbing up on the latest list of MLB teams?
After that, you can sit back and read this in-depth guide on how to read MLB odds and betting lines.
“Get genuine advice from BettingSitesNYC – a team of betting fans who want what you want!”
Enhancing Your Knowledge & Betting Performance
You should educate yourself on the official MLB rules and guidelines to gain a deeper knowledge of the sport.
The more you know about the rules, the more confidence you feel in checking the latest MLB betting lines. All this leads to better chances of placing winning bets.
Our goal is to help you go from knowing the fundamentals to understanding how to use that information to make educated MLB betting decisions.
Betting success comes from looking at the big picture rather than hitting that huge $100 parlay bet with 500 to 1 odds!
To get that betting knowledge to a point where you have confidence, let’s look at the most popular MLB odds you will come across.
All About MLB Odds
The main odds for MLB can be separated into three basic types. The first and most widespread format, American odds, is being used by the overwhelming majority of sportsbooks and punters.
Still, long-term success in MLB betting requires familiarity with all odds, so let’s begin.
Let’s take some MLB odds based on the New York Yankees up against Houston Astros. $100 amounts are used to portray what you can win from a $100 bet (underdog) or what you need to wager to win $100 (favorite).
New York Yankees -119 (favorite)
Houston Astros +109 (underdog)
If the Yankees are a -119 favorite, you need to stake $119 to win $100. You either lose $119, win $219, or receive your stake back via a “push.”
If the Astros are a +109 underdog, you will win $109 from a $100 bet. So, you lose $100, win $209, or your bet is a “push,” and your stake is returned.
- The “push” phrase means a tie, but you rarely ever get ties in baseball games. Still, it’s useful to know the term for betting on other sports!
Betting using the decimal MLB odds is often a go-to for many newcomers, purely for its simplicity. Like the American odds format, you can quickly determine what you can win.
Keep in mind that your stake is reflected in the returns while working out your overall profit calculation. Let’s take the Yankees and Astros game as another example.
New York Yankees 1.84 (favorite)
Houston Astros 2.09 (underdog)
The decimal odds number represents the return for a successful wager on a $1 stake. With odds of 1.84, a $100 successful wager would create a return of $184 ($84 profit on top of the $100 original stake).
- Decimal odds with 1.00 to 2.00 are deemed to be favorites, while 2.00 is considered even money.
In MLB betting, underdogs are regarded as any bets with odds greater than 2.0 on the decimal level. The Astros are at 2.09 odds. Therefore, a $100 wager would yield $209 ($109 profit and the $100 stake back as well).
As the name suggests, these MLB odds are stated as fractions. Don’t let the word fractions put you off, though.
While it’s not quite as straightforward as the other formats, reading them is simple once you understand what the numbers mean.
“The number on the left shows how much you stand to win if you bet the amount on the right.”
Let’s say the Yankees are 5/6. A $100 bet would provide a profit of $83.33. We will also get our $100 initial outlay back for a total profit of $183.33.
Fractional odds are clearly not the easiest option, but knowing how to read them can help your betting strategy in the long run. As we keep saying at BettingSitesNYC – knowledge is power.
MLB Betting Lines 101
Knowing how to read the MLB betting lines from the moment you land on your favored sportsbooks is reassuring. Especially so for beginners.
When betting with your money, you want to feel confident (there’s that word confidence again). Reading lines, finding value, and betting smarter is not difficult. It just takes some knowledge and experience.
A Typical MLB Betting Line
A typical MLB betting line at any of our recommended online bookies is going to look like this:
- New York Mets: -130 / -1.5 (+145) / U 6 (+100)
- Atlanta Braves: +110 / +1.5 (-175) / O 6 (-102)
With these MLB odds, you have the Moneyline first, the Run Line second, and then the Over/Under Runs Total.
Pick the winning team but keep in mind several key points. Which pitchers start the game, the quality of the bullpen, and recent performances all come into play when betting on moneylines.
MLB Run Lines
A unique betting option for the MLB is the run line. Baseball games are often low-scoring compared to other sports, so you often find the 1.5 run line displayed as standard.
MLB Over/Under Total
Predicting the total over/under of the number of runs is a bit more challenging in the MLB. Pitching duels or top batters can shift the total both ways, so do your research before.
Everyone loves betting on MLB futures. Do you think the Yankees will be top of the American League? Or how about the Mets reaching the Division Series final? You’ll find big MLB odds and many options throughout the season when you look into future betting.
Improve Your Betting Strategy With Advanced MLB Odds
Once you have the standard MLB betting lines and futures, you can think about more advanced options. Test the waters with small stakes and see how you get on across MLB playoff odds and the various prop bets available.
We recommend looking at any of the following betting markets to begin with. These are perfect for improving your betting strategy throughout the season.
One of the increasingly popular options is researching MLB MVP odds, so be sure to check that one out.
MLB Game Odds
Baseball has a few worthwhile game-based options to research. Some examples include which team reaches a set number of runs first or which team will rack up the most strikeouts.
MLB Player Odds
Player betting is a lot more advanced, with many options to choose from based on individual performances. Will a player hit a home run? Which will be the most successful pitcher?
MLB Playoff Odds
Betting on playoff odds provides a bit more profit potential. Foretelling which teams will advance to the playoffs is tricky. Predict them early for big odds, or bet later in the season for less risk.
MLB MVP Odds
It’s tough but fun betting on MLB MVP odds. There may be a long list of players that could potentially win. Again, big odds are on offer, so dive into the stats and see who has value.
MLB World Series Odds
The big one. This is all about betting on which team will come out as champions and take the World Series.
It doesn’t get much more exciting than betting on this event, so grab your bonuses, research, and see if you can land a winning bet on the biggest MLB calendar date.