Baseball is the easiest game on which to win, if you know absolutely nothing about sports. Where are the experts when we need them most? You may still feel the urge to wager on a Baseball game.
Its easy to bet and win, as opposed to football and basketball, where one can get mixed up by point spreads and other calculations.
When betting baseball, one simply puts money on the outcome of the game.
In addition, the baseball season lasts longer, which means more matches and bigger chances to go home after winning money on storied rivalries.
The main difference between baseball betting and other team sports, such as football and basketball, is that the latter use point spreads. Baseball uses the money line.
For the benefit of those who do not know, the Point Spread is the most common betting type offered in both football and basketball games. The sportsbook spreads the odds of a certain matchup by subtracting points from the favored team. The favorite team is the team most likely to win. By giving points to the underdog, which is the team expected to lose, the matchup has been equalized. If the favored team is a 10 point favorite, it MUST WIN THE GAME by a minimum of ten points, or the Winner will be the Underdog.
What is a Money Line?
In baseball betting, the sportsbook sets the odds strictly on the outcome of the match. In order to even the action, bettors would have to risk more money on the favorite and risk less on the underdog. This is called the money line.
For example, if the money line is minus 170 on the favorite and plus 150 on the underdog, then you would have to bet 170 dollars on the favorite in order to earn 100 dollars(plus you would get back your original stake of $170). On the flip side, if you should choose to bet 100 dollars on the underdog, you would win 150 dollars if the underdog does indeed win the game. You would collect a total of $250 (getting back your original $100 wager PLUS the $150 you earned because the team won outright.
The difference between the minus 170 on the favorite and the plus 150 on the underdog is known as the twenty cent line. If the money line was minus on the favorite and plus 150 on the underdog, it is called the ten cent line or dime line. The fifteen cent line is also common in baseball betting.
Sportsbooks also offer total bets and run lines when making baseball wagers.
1) Total Bets:
These wagers (TOTALS) are based on the sum of the runs scored by each of the teams. For example, if the sportsbook sets the over/under total of a match as 7, the over wins if the sum total of the runs scored by both teams exceeds 7, and the under wins if its TOTAL sum is less than 7. If the game ends with exactly 7 runs scored between the two teams, the outcome becomes a PUSH (the Totals bet was neither won nor lost).
2) The Run Line:
The Run Line wager is the baseball variation of a point spread. When you are betting on the run line, you are betting on whether one of the teams wins by more than one run, which is marked as minus 1.5 or stays within one run, marked as plus 1.5.
Although the money line makes baseball betting simpler than football and basketball betting, it causes the payoffs calculation to be more complicated:
1) In order to calculate the payoff when wagering on the favorite you should add 1 to the favorite price and divide it with the favorite price.
2) In order to calculate the payoff when wagering on the underdog you should add 1 to the underdog price.
Or Better Yet... let the Sports Book do the complicated calculations, because soon enough you will be betting Parleys, Round Robins and Teasers. You would need a math degree from MIT to calculate a payoff after you win, or at least a good hand held calculator with a long battery life. It can get complicated once you stray from the basics of betting baseball.