Baseball betting works differently from football or basketball. Point spreads aren't the main event; the moneyline is. Here's the menu.
Moneyline
Pick the winner, nothing more. American odds work like this: a minus number is what you stake to win 100, and a plus number is what you win from a 100 stake. So -150 means staking £150 to win £100 (1.67 in decimal), and +150 means a £100 stake wins £150 (2.50 in decimal).
| American |
Decimal |
Fractional |
Implied chance |
| -250 |
1.40 |
2/5 |
71.4% |
| -150 |
1.67 |
4/6 |
60% |
| +100 |
2.00 |
Evens |
50% |
| +150 |
2.50 |
6/4 |
40% |
| +250 |
3.50 |
5/2 |
28.6% |
Moneyline prices and the chance they imply.
Value is everything. A -250 favourite implies a win probability of about 71%, so you need to believe the real chance is higher than that to back it. Underdogs pay more, and even weaker teams win a healthy share of their games over 162, which is why selective underdog betting can pay.
Run line
Baseball's version of the spread, usually set at 1.5 runs. Favourites need to win by two or more to cover; underdogs can lose by one and still cash. One quirk worth knowing: a home team that leads after the top of the ninth doesn't bat again, so it can finish with fewer at-bats than the visitors. It's a small factor, but it matters on a run line close to the number.
Totals
Totals are all about combined runs, and most sit somewhere between 7 and 12 depending on the pitchers, the ballpark and the weather. If the game lands exactly on the number, the bet is a push and your stake comes back. Some bettors 'buy the hook' (taking over 7.5 rather than over 7) to dodge pushes, but you pay for it in the price.
First five innings
F5 bets settle after five innings, before the bullpens take over, which makes them one of the most useful tools in the MLB market. The run line usually sits at 0.5 and the total at roughly half the full-game number. We like them because they put the spotlight on starting pitching, and we come back to them below.
Props and futures
Player props cover almost anything: pitcher strikeouts, earned runs and walks; hitter total bases, hits and home runs. We think they are often priced less sharply than the main lines, so if you know a player's tendencies and the matchup, that's where your homework pays off. Futures (World Series winner, division champions, MVP and Cy Young) move through the season with form, injuries and trades, and the trick is to get in before the market catches up.