Baseball Betting Tutorial
Betting on baseball is different than betting on other sports. Las Vegas sportsbooks and oddsmakers have their own system for wagering. It might seem a bit confusing when you first see a baseball betting line, but, a few pointers will have you ready to make your first bet.
There are a number of possible ways to bet. The basic bet is the Money Line wager, where you just need to pick the winner. Then there is the Run Line wager, where you must predict the number of runs scored. There are bets on individual games and bets on a series of games. Finally, you can play a parlay, where you must correctly pick the winner of 2 or more games.
The Money Line Wager
The basic bet requires you to pick the winner of the game without regard to the final score. As long as you pick the team that wins, you win. Obviously, a team with a superior record is more likely to defeat a team in last place.
In order to even up the odds, the cost of the bet is adjusted to reflect the perceived chances of each team. Everything is based around 100, which represents an equal chance of either team winning.
If the number is +120, that means that the team you are betting is the underdog. For every $100.00 you bet, if your team wins, you will win $120.00 and get back the original $100.00 you bet, for a total of $220.00.
If the money line is -120 and you win the wager, for every $120.00 you wager, you will receive $100 and your original wager for a $220.00 total. The key concept here is that you receive a smaller return if you pick the favorite.
A Variation on the Money Line Wager
In many games, to make it a little more interesting, the money line can be combined with the margin of victory. The most common is +1.5 runs or -1.5 runs in terms of the final score. So, for example, if you bet the Yankees -140 with a +1.5 to beat the Orioles, in order to win your bet, you would have to win the game by two or more runs. If you picked the Orioles, say +120 with a -1.5, and they win, you win. But, if they lose by only one run, you also win (you are basically given a one and a half run headstart)
Run Lines
This is a simple under or over bet. Oddsmakers, based on various statistics, come up with the total number of runs they think will be scored in the game and post that number. If you think that number is off, you can make a bet that the total score will be higher or lower than posted. Pick correctly and you win.
A Few Rules to Know
A game must be declared official in order to win a bet, otherwise, your wager will be deemed "no action" and your money returned. In a money line bet, that means 5 innings (4.5 if the home team is ahead). For a run line bet, the game must go the full 9 innings (8.5 if the home team is ahead).