Regardless whether it’s your first ‘at-bat’ at the MLB betting plate, or you’ve taken more swings at MLB wagers than you care to remember, part of the joy of gambling on MLB is the number of options available to you! Here’s our Bet Basics run down on the top MLB betting types available:
MONEYLINE BETTING
When it comes to gambling on MLB, it doesn’t get much simpler than placing a moneyline bet. All you need to do is choose which team you think will win the game!
Both ball clubs are assigned odds by the sportsbook that represent their chances of winning the contest. A minus sign in front of the odds indicates that team is the favourite (e.g. -145), while a plus sign in front of the odds indicates the underdogs (e.g. +125).
Choosing to bet on the favourite might appear to be the logical decision, but the payout for a winning bet will be less due the the smaller amount of risk involved. On the other hand, wagering on an underdog might feel like a risky move, but it can also be quite a lucrative one if they manage to defy the odds and win!
At the end of the day, moneyline betting on MLB all comes down to assessing the risk and reward ratio of each team. It’s important to remember a winning bet means profit, which is always a good thing, no matter how small it may be!
For a step-by-step guide on how to understand moneyline odds and place a moneyline bet on the MLB, click here.
SPREAD BETTING
MLB spread betting (sometimes referred to as ‘runline’ betting) requires bettors to account for a handicap applied by sportsbooks in order to make the contest a more even one for betting purposes.
Due to the low-scoring nature of baseball, more often than not the sportsbook will set the runline at the 1.5 mark. A -1.5 run handicap applied to the favorite, would require them to win the game by 2 runs or more to cover the spread. In this instance, the underdog would have a +1.5 run advantage and they must either win the game outright or lose by a single run for the bet to be successful.
For a more detailed explanation of points spread betting, click here.
TOTALS
Totals bets are a means of gambling on the combined total number of runs that are going to be scored by both teams during the game. With this type of wager, bettors choose whether they think the total number of runs will be over or under the ‘line’ set by the sportsbook.
For example, the oddsmakers might set the totals line at 8.5 runs. If you choose to wager on the over, you need there to be 9 runs or more scored in the game for your bet to hit. If you bet the under, 8 runs or less being scored in the game will see you collect a winning payout.
For more information on how to place a totals bet on the MLB, click here.
PROPS
MLB prop bets are a way to wager on the games within the game, such as specific milestones and moments for both teams and individual players. Examples include things such as whether a player will hit a home run and the number of strikeouts a pitcher will have.
Prop bets usually take the form of Over/Under totals, Yes/No propositions, or certain events, such as the first team to score a run.
For help understanding the different types of MLB prop bets at your disposal, click here.
LIVE BETTING
Live betting gives you the opportunity to place bets based on the action that is already taking place on the field. It is a great chance to capitalise on the significant moments that often take place in MLB games such as when you sense a team gaining the ascendency with runners on base or a pitcher beginning to look shaky on the mound.
Top sportsbooks will offer moneyline, runline, totals and some prop bets during live action. You’ll need to be on your game though, as live betting odds can fluctuate quicker than a 100 mph fast ball!
For tips on how to make the most of fluctuating odds during MLB live betting, click here.
PARLAY
Parlays are a bet type that allows you to chase bigger winnings by incorporating multiple bets from different MLB games onto the one ticket. The more bets included on the parlay ticket, the more the potential payout, but it’s important to note, you’ll only get paid out if every bet on your ticket is a winning one!
Trying to hit a big parlay is like swinging with the bases loaded on a full count - if you hit it out of the ball park, there’s no better feeling, but if you swing and miss, you go back to the dugout empty handed.
For hints and tips on how to build the perfect MLB parlay, click here.
FUTURES
MLB futures bets involve bettors gambling on events relating to the season well in advance of those events taking place, such as picking the winner of the World Series.
For a more detailed breakdown of different MLB futures markets and what to look out for when placing a futures bet, click here.
Now that you’re across the multitude of different ways you can bet on MLB, we recommend checking out our Bet Basics list of 100% licensed and regulated legal sportsbooks. Here you’ll find the top exclusive bonuses and promotions on offer from our recommended sportsbooks to help you cash in while wagering on MLB.