Given the jumble of statistics, names, jargon, and seemingly endless pieces of additional information involved in making informed decisions, newcomers to betting on MLB may find themselves at a loss for how to go about the betting process, especially when hearing esoteric terms like “moneyline.” However, this hill of data and terminology can be climbed, and doing so can prove fun and profitable if done correctly and carefully.
Understanding MLB Betting Odds
Odds function in MLB betting like in regular statistics: as a measure of probability, i.e., the likelihood of a particular event occurring. When betting on MLB odds, the participant is therefore betting on the possibility of events like winning and losing.
Baseball is unique in that, unlike football with its point spreads, it utilizes a “moneyline.” Understanding this vital tool will make betting on MLB more intuitive and approachable.
Defining MLB’s Moneyline
At its foundation, the moneyline is the most common and beginner-friendly baseball betting format. World Sports Network defines moneyline betting as “betting on who will win the game. Unlike the points spread and total bets, the money line is not concerned with how many points are scored or the margin of victory” [World Sports Network, 2025].
Participants have two options when making a money line wager: the favorite and the underdog. Favorites are represented with a minus (-) next to a number and refer to what the participant must wager to win $100.
Inversely, underdog picks are represented with a plus (+) next to a number, referring to what the participant wins on a $100 bet.
To visualize, imagine the Dodgers are -160 and the Rockies are +145. If someone wanted a $100 profit from a Dodgers win, they would need to wager $160.
Meanwhile, if someone wanted to bet on the Rockies instead and still make a $100 profit, they would need to bet $68.96 since a $100 bet is meant to earn $145. The participant wants $100 in profit; however, they divide $145 by $100 to get $68.96; therefore, someone betting on the Rockies to win would need to bet $68.96 to earn a $100 profit.
How to Read Moneyline Odds
Once reasonably comfortable with the moneyline, bettors should be able to read moneyline odds without too much difficulty. When looking at odds using standard American Odds, commonly used in North America, from a typical sportsbook, bettors will use what is referred to as “risk/reward.”
Risk refers to the amount someone wagers, whereas reward refers to the amount a winning ticket will provide, comprised of the initial bet and the profit. These figures calculate implied probability, a value taken from dividing risk by the reward. Utilizing this principle will help greatly determine whether to take a given bet.
Factors to Consider for Newcomers to Moneyline Bets
Prospective bettors may need to consume as much data as possible right away, but this approach may not be the most productive, at least for beginners.
Still, research is essential to stay informed and trust information rather than gut feelings. “To gain an edge,” CNN reports, “fans study analytics, listen to podcasts, and get picks from trusted experts. All of that feeds the perception that sports can be predicted, thus making sports betting different from regular gambling” [CNN, 2024].
There is no perfect science to guarantee optimal outcomes, but there are some simple strategies to start with before diving into mathematics. Newcomers should stick to teams they follow and understand, as pulling from a limited pool of information will make it more manageable and helpful.
It is also worth researching team trends and starting pitchers while looking for underdogs with momentum. Noting these factors will at least keep bettors informed and prepared to make a data-backed decision.
FAQs
Can bettors parlay moneyline bets in MLB?
Yes, although they do so at their own risk since all picks in a parlay have to win.
Why is the moneyline considered the safest MLB bet for beginners?
The moneyline reduces the number of variables and factors to consider since bettors only have to pick who they think will win.
Do moneyline odds vary across sportsbooks?
Yes; each sportsbook uses different risk profiles, algorithms, and public betting volumes, altering their given odds.