MLB Odds & Betting Lines

MLB Betting Odds

Have you ever glanced at an odds table and felt like you were deciphering ancient hieroglyphics? Don’t worry, understanding the odds is much simpler than it seems. Whether you’re a newbie to baseball betting or a seasoned pro in need of a quick refresher, we’ve got your back.

We’ll touch on key dates in the MLB 2024 season, teach you how to properly analyze MLB odds and betting lines and give you the insight you need to increase your chances of wagering success.

Should you want further assistance by the end of this baseball guide, head on over to our MLB computer picks page to find additional tools to help grow your potential profits. But before you place your first MLB bet at an online sportsbook, let’s review what the pros already know.

How To Read MLB Odds

Understanding MLB odds is crucial for making informed bets. Odds are typically displayed in moneyline odds format (or the American format), with negative numbers indicating favorites and positive numbers representing underdogs.

For example, in a game between the New York Yankees and the Boston Red Sox, the odds might be Yankees -140 and Red Sox +120. If you bet $140 on the Yankees and they win, you’ll earn $100 in profit plus your original wager. Conversely, a $100 bet on the Red Sox would return $120 in profit if they win.

MLB betting also includes over/under odds, where you wager on the total number of runs scored in a game.

For instance, if the over/under is set at 8.5 runs with -110 odds, you’re betting on whether the combined score will exceed or fall short of that number. An initial stake of $110 on the over wins $100 if the final score is Yankees 6, Red Sox 3 (total 9), but loses if the score totals 8 or fewer.

By analyzing factors such as team performance, pitching matchups and recent trends, you can identify opportunities to capitalize on favorable odds and improve your betting success.

Understanding MLB Line Movement & Odds Changes

MLB betting lines and odds are constantly adjusting based on a variety of factors and understanding these movements is critical for making smart bets. Line changes can result from injury news, where the absence of a key player or starting pitcher can drastically shift the odds.

Weather conditions, such as wind direction or rain, also play a significant role in influencing totals and other lines, especially in outdoor stadiums. Public betting trends can cause sportsbooks to move lines to balance the action. If a majority of bettors are backing one side heavily, oddsmakers may adjust the line to reduce their potential losses.

Sharp money (or bets placed by professional bettors) often triggers line movement when sportsbooks respect their insights. Lastly, late lineup changes, such as a star player being benched, can impact the odds.

During live betting, odds adjust in response to game developments, such as scoring changes, pitching substitutions or player injuries. Quick reactions to these changes can create profitable opportunities. For instance, if a star closer is unexpectedly unavailable in the ninth inning, the odds for a comeback might increase, offering value to bettors.

What are the different types of MLB bets?

The leading legal sportsbooks offer 200+ MLB betting options in an individual baseball game, which is quite impressive but may seem overwhelming to some. To help you narrow it down, we’ve listed the most common bets on Major League Baseball.

Moneyline Betting

Moneyline bets are the most straightforward way to bet on an MLB game. It’s a prediction of which team will win the baseball game. With these types of baseball bets, the sportsbooks assess the two teams, determine an underdog and a favorite team and then release the moneyline odds. For example:

• Tampa Bay Rays +126 at SBK
• New York Yankees -135 at Bet365

In this example, the New York Yankees are the favorite and the Tampa Bay Rays are the underdog. A $100 bet on the New York Yankees would earn you a $74.07 profit if they won the game, whereas a $100 bet on the Tampa Bay Rays would earn you a $126 profit.

Runline Betting

The runline is the closest thing you will find to point spread betting when it comes to baseball betting. The standard runline is 1½ runs, which is what we will focus on in the following:

• Los Angeles Angels +1½ (-115 odds at FanDuel)
• Los Angeles Dodgers -1½ (+105 odds at DraftKings)

In this example, a $100 bet on the Los Angeles Dodgers would earn you a $105 profit if they won the game, whereas a $100 bet on the Los Angeles Angels would earn you an $86.96 profit.

• Bet on the Los Angeles Dodgers -1½, meaning they would need to win the game by 2 runs or more for the wager to pay off.
• Bet on the Los Angeles Angels +1½, meaning they would need to win the game or lose by no more than 1 run for the bet to pay off.

In this example, a $100 bet on the Los Angeles Dodgers would earn you a $105 profit if they won the game, whereas a $100 bet on the Los Angeles Angels would earn you a $86.96 profit.

Run Totals (Over/Under Betting)

This is another popular betting market in Major League Baseball. With baseball totals, you just need to estimate if the number of runs that are scored in a baseball game will be over an amount set by a sportsbook. Sports betting operators release a total run line on each upcoming game.

• Over 7½ runs (-115) at Caesars
• Under 7½ runs (-105) at Caesars

If you expect the Milwaukee Brewers and the New York Mets to have a combination of at least 8 runs, you can bet on over. If you believe the game will see 8 runs or fewer, then you should bet on under.

There will be a standard total run line, but you will also find alternate total run lines (usually valued at around -110 odds.) They allow you to move the line up or down, which changes the odds. Additionally, alternate run lines are available for both baseball teams.

Prop Betting

MLB prop bets provide you with hundreds of additional betting opportunities on any given baseball game. Prop bets focus on a proposition – whether something will happen during a game – and they are not always tied to the final result. Proposition bets in baseball often fall into two distinct categories:

• Player Props
• Game Props/Team Props

Player props concentrate on individual performance stats. With these types of wagers, you can bet on the total number of walks, singles, doubles, triples, home runs, strikeouts, etc. You can also bet on the following popular metrics: total bases, RBIs (Runs Batted In), hits, hits + RBIs + runs, stolen bases, runs record and if the pitcher will earn a quality start.

Game props might include betting on the highest-scoring inning or first five innings or whether the game goes into extra innings.

You can bet on the following game props: teams with the most hits, walks, home runs and total bases as well as teams with the least strikeouts. You can also bet on the exact score, extra margin of victory and on a team to score the first run.

Series Betting

MLB series betting allows you to wager on the outcome of a multi-game series between two teams, rather than on individual games.

This bet type is unique to sports like baseball, where teams play consecutive games against the same opponent during the regular season or playoffs. Series bets typically cover two to four games and focus on which team will win the majority of the games in that series.

Series betting can offer strategic advantages for baseball bettors who have insights into team performance trends, pitching rotations or injury reports over several games. Sportsbooks adjust the odds for series bets based on factors such as team form, venue and key players.

For example, the New York Yankees are scheduled to play a three-game series against the Boston Red Sox. A sportsbook offers the following odds for the series winner:

• New York Yankees: -140
• Boston Red Sox: +120

If you believe the Yankees will win at least two of the three games, you can place a series bet on them at -140 odds. This means you would need to bet $140 with your original stake to win $100. Conversely, if you think the Red Sox will win the series, a $100 bet at +120 odds would yield a $120 profit if they succeed.

MLB Futures & World Series Winner Betting

Because futures bets are wagers on season-long outcomes, online sports betting operators release baseball futures odds on a range of markets before the season begins, typically a few months in advance.

These odds update often and will be available to bet on throughout the season. These are often season-long or playoff-long wagers, which do not depend upon the result of a single baseball game.

Popular bet types in the futures market include:

• Odds to win the American League
• Odds to win the National League
• Odds to win the AL Wildcard Game
• Odds to win the NL Wildcard Game
• Odds to win the AL East
• Odds to win the AL Central
• Odds to win the AL West
• Odds to win the NL East
• Odds to win the NL Central
• Odds to win the NL West
• Will team X make the playoffs?
• American League MVP
• National League MVP
• American League Rookie of the Year
• National League Rookie of the Year

The odds for these futures wagers change over the course of the entire season, depending on how well or poorly the teams are playing.

First Inning & Halftime Betting

You can also bet on a specific inning or on the first five innings (half-time) of a baseball game. Sportsbooks release the same key betting options of spreads, totals, moneylines and props on certain innings and the first five innings within a single game. See the following for an example of a first five innings bet:

• San Diego Padres +126 at DraftKings

• Chicago Cubs -135 at BetMGM

In this example, the Chicago Cubs are the favorite and the San Diego Padres are the underdog team. A $100 bet on the Chicago Cubs would earn you a $69.93 profit if they were leading in the first five innings, whereas a $100 bet on the San Diego Padres would earn you a $125 profit.

At the end of five innings, if the game is still tied, the wager is canceled and you’ll get the money back from your moneyline.

Live Betting

MLB betting sites allow sports bettors to wager on games after they have started. This type of betting is also known as live betting (or in-game betting) because the moneylines, runlines, total points lines, props and alternate lines will refresh as the game plays out.

You can continue betting until close to the game ending, but make sure to do your research, you don’t want to be betting based on emotion or you’ll quickly strike out financially.

Let’s say for example the Cincinnati Reds are playing the Arizona Diamondbacks and the odds to start the game are:

• Cincinnati Reds (+110)
• Arizona Diamondbacks (-133)

In the top of the 8th inning with two outs, the odds have adjusted to reflect the current score (Diamondbacks are the favorite to win at -270 odds, pre-game odds were -133).

Parlay Betting

A parlay bet lets you combine predictions on multiple games into a single wager with a higher payout potential than the individual bets. For example, let’s say you like these four bets:

• Toronto Blue Jays (Moneyline, -280)
• Pittsburgh Pirates (Moneyline, +155)
• Oakland Athletics (Moneyline, +160)
• Colorado Rockies (Moneyline, -115)

If you combined these parlay odds into a four-team $100 parlay, that’s a potential payout of $1,582. The winnings from each leg roll over onto the next leg, meaning the profit compounds inside the parlay, leading to large payouts. However, if one leg fails, the parlay isn’t successful and you lose the baseball wager.

Alternative parlay options include:

• Round Robins
• Reverse Bets
• Same Game Parlays
• Teasers
• Progressive Parlays

Parlays provide countless betting opportunities to baseball fans throughout the entire MLB season.

MLB Betting Tips & Strategies

Successful MLB betting requires more than just luck — it takes research, strategy and discipline. Use these tips and strategies to increase your chances of making profitable wagers:

• Research Pitching Matchups: Starting pitchers have a significant impact on MLB betting odds. Analyze a pitcher’s recent performance, ERA, WHIP, strikeout rate and history against the opposing team to gauge how they might perform.
• Consider Team Form & Momentum: Evaluate how teams have been performing in their last 10-15 games. Hot teams with consistent hitting and strong pitching are more likely to deliver wins, while slumping teams may struggle to cover spreads or runlines.
• Pay Attention to Home vs. Away Records: Some teams perform significantly better at home due to fan support and familiarity with their ballpark. Check how teams fare in home and away games before placing your bets.
• Factor in Ballpark Conditions: Ballpark dimensions and weather can influence game outcomes. Smaller stadiums like Coors Field in Colorado often result in higher run totals, while larger parks may favor pitchers.
• Monitor Line Movements: Odds and lines can shift leading up to a game. Sudden movements may indicate where sharp money (professional bets) is going. Understanding these changes can help you make informed bets.
• Avoid Betting Favorites Blindly: While favorites win often, they don’t always provide value. Betting on the heavy favorites can result in small payouts and increased risk if they lose. Consider underdogs with strong potential for an upset.
• Utilize Advanced Statistics: Dive into sabermetrics like on-base percentage (OBP), slugging percentage (SLG) and Weighted Runs Created Plus (wRC+). These stats provide deeper insights into team and player performance.
• Take Advantage of Series Bets: Instead of betting on individual games, consider series bets. These allow you to focus on which team will win the majority of a multi-game series, providing a broader perspective on team performance.

By applying these strategies consistently, you can make more informed decisions and increase your chances of turning a profit over the course of the MLB season.

Conclusion

MLB betting offers countless betting opportunities for those who take the time to understand the odds, analyze data and implement effective strategies.

MLB betting is as much about strategy and discipline as it is about understanding the game itself. By following the tips and insights in this baseball betting guide, you’re well-prepared to enhance your betting experience and make the most of each wager throughout the entire baseball season.

MLB Odds FAQs

What are MLB odds?

MLB odds represent the likelihood of outcomes in Major League Baseball games, expressed as betting lines. They include moneyline odds (winner prediction), run line odds (point spread) and totals (over/under on runs scored). These odds guide bettors in making wagers based on implied probabilities and potential payouts.

Is baseball easy to predict?

Baseball is a passionate sport in which specific outcomes are not always guaranteed. However, by conducting research on the factors that can influence the likelihood of making accurate predictions, bettors can seriously maximize their potential returns.

How do you win a baseball bet?

To increase the chances of baseball betting success, bettors must first understand the odds as well as variables that can affect the result of a team, player or game.

What is a first five innings moneyline?

A first five innings moneyline is a wager that only takes into account the outcome of a game’s first five innings.

Do most people bet on the underdog?

Underdog betting is common among baseball fans. Though anticipated to be the defeated team, underdogs frequently achieve victory.

How many times has the underdog won the World Series?

Underdogs have won the World Series several times, with notable examples including the 2001 Arizona Diamondbacks, the 2003 Florida Marlins and the 2019 Washington Nationals.