How to Bet on Baseball?

There are three ways to place a bet on baseball: money line, run line, over/under bets, and prop bets. To make sure you're getting the best odds and options, it's essential to know where to place your bets. You can find the top baseball sportsbooks that offer competitive odds and various betting options to enhance your experience.

1. Money Line

The most popular way to bet on baseball is the money line. With this type of bet, you choose the team you think will win. Baseball odds are typically displayed as American odds. A minus sign indicates the team with the most bets (the favorite), while a plus sign is used for the team expected to lose the majority of bets (the underdog). The amount you win depends on the risk you're taking, as betting on some teams may be riskier than on others based on their past performance and abilities.

For example, let’s say there is a match between the Detroit Tigers and the New York Yankees. The Tigers have a money line of +130, and the Yankees have -150. This means you would have to bet $1.50 to win $1 on the Yankees, as the risk is lower because their chances of winning are higher. On the other hand, betting on the Tigers would give you $1.30 for every $1 wagered because the associated risk is higher, as the Yankees are more likely to win.

2. Run Line

These types of bets are similar to those in basketball and football. However, in baseball, the team must make at least 2 or 3 additional runs to win. Let's continue with the example above to understand the run line. Suppose the Tigers have a +1.5 run line at odds of -110, and the Yankees have -1.5 at odds of -100. If you predict the Tigers will win the game by at least two runs, the run line gives you better odds than the money line, which has worse odds.

3. Over/Under Bets

This type of baseball bet is popular among risk-takers. The bet is based on the projected total score of both teams and the likelihood that the final score will be higher or lower than the predicted total. For example, if the projected total for the game is 10 runs, and there’s a higher chance the final score will exceed 10, the odds might be -130. If the likelihood of the score being under 10 is higher, the odds might be +110.

Baseball Betting Tips

Baseball bets are generally placed on the money line, meaning players predict the winner or loser of the game. Bettors can either bet on the favorite, expecting most of the underdogs to lose, or vice versa. Below are tips that players can use when betting on baseball:

1. Don’t Always Bet on Big Favorites

Odds often show that many players tend to bet on popular teams that perform well and are known for their skill. As a result, they try to profit from such public bias. Popular teams like the Yankees and Dodgers often have odds of -120, -150, or -180, making them overvalued, as average players tend to bet on them despite the high price, which is thought to be associated with lower risk. However, since you’re betting more than you win, you could end up losing. Moreover, if these favorites lose, you lose a significant amount.

2. Don’t Hesitate with Plus-Money Underdogs

Instead of always choosing the biggest favorites, consider betting on underdogs with plus-money odds. If these teams lose, you only lose the money you wagered, but if they win, you get high payouts. For example, if you bet on a team with odds of +120, you’ll receive $1.20 for every $1 wagered.

3. Try to Be Contrarian

Bet against the public favorites. Regular baseball bettors often choose popular teams and big favorites, falling victim to many biases and making decisions solely based on instinct. It’s been noted that the public tends to lose more often than they win. Therefore, it can be advantageous to bet against the crowd, as you can exploit public bias and overinflated odds.

4. Follow Line Movement

Simply betting against the public or on baseball underdogs with plus-money odds won’t get you far. You need to stay sharp with the dynamics of the game. One way to do this is to follow reverse line movement. For example, if the Yankees and Tigers start with odds of -130 and +100 respectively, and over time the Yankees’ odds shift from -130 to -110 and the Tigers’ odds move from +100 to +90, it means the odds have shifted in favor of the Tigers.

5. Bet on Division Underdogs

Two teams in the same division are more familiar with each other’s playing style and tactics. Therefore, underdogs playing against a team within their division are less likely to lose than when playing a team outside their division.

6. Be Aware of the Weather

Knowing the wind speed and direction can help you make adjustments and alter your bets. If the wind is blowing, there’s a high chance the total score will be higher than predicted. When the wind blows, the total score is likely to be lower than predicted: higher wind speeds give an advantage to the over, while lower speeds decrease it.

7. Open Multiple Accounts

A common mistake new bettors make is placing bets from only one website. This won’t be beneficial as you’ll be stuck with fewer betting options. Different sites can offer different odds, allowing you to compare and select the best one.

8. Bet on Volume

While some say a player should limit their bets to the most expensive games, baseball is a sport where increasing the volume of your bets can be advantageous.

9. Money Management

It’s best to wager between 1% and 5% of your bankroll on each game. If you’re conservative, betting 1% to 2% is suitable. If you want to be a bit more aggressive, you can bet around 4% to 5%. Also, avoid parlays and teasers, as bookmakers generally take advantage of these bets by offering unfair odds since the larger payouts lure players in. You should stick to flat betting on baseball, which means placing the same amount on every game.

10. Know the Umpires

Since umpires are human, they have strong biases. Being aware of these tendencies can help players predict the outcomes of games.