How Does Baseball Betting Work?

If you’re using Unibet’s American sites then you may only be interested in one baseball division. We’re rightly proud of the MLB and it gets the most attention on our sportsbook.

But this is a global game and there are leagues and cups on the line right across the world. The world at large may not be interested but the serious members of our betting community know that there is life beyond  just betting on the MLB.

If you’re thinking about jumping on board, here are some points to consider.

Baseball Betting Odds & How Do Baseball Odds Work

Sports betting is all about the odds: We can’t have betting without odds but what do they actually mean? There are two elements at work here.

Odds tell us:

1. The probability of one team winning
2. How much we will be paid if you call it correctly

Both are important and the best way to answer them is by using an example.

We’ll kick things off with a real-life game between the Yankees and the Blue Jays. Both have numbers with three digits attached but New York have a minus sign and Toronto have the plus prefix.

What does this tell us?

Teams carrying the minus sign are the favorites. If they have the plus prefix, they are the underdog. That’s probability in action:

The exact numbers answer the second question. How much will we be paid? The answer is in those figures.

The Yankees are the favorites and their odds stand at -141. This means that we have to stake $141 to get win $100. As for the Blue Jays, a bet of $100 at odds of +120 returns a win of 120 bucks.

You don’t have to stake those amounts. Bets can be lower or higher, depending on your personal preference. As an illustration, it’s just easier if we round up to $100.

Public Betting in Baseball

Our odds setters will ultimately have the final say. They will set the odds and it’s down to you to make a decision when you’re betting on baseball. They have, however, taken a lead from the public.

Have you heard of the phrase ‘betting with the public?’ If you have, great but don’t worry if it’s new. All that this means is that the public have identified a favorite - in this case the New York Yankees.

It’s up to you to bet with the public or not. Betting on the favorite in baseball means a smaller return but probability suggests this has a higher chance of winning. If you bet on the underdog, those chances may be lower, but the payout is higher if it wins.

Different Types of Baseball Bets

You’ve already seen one: Those baseball odds from the game between the Yankees and the Blue Jays show is an example of a baseball moneyline bet. A Moneyline bet relates to the winner of the baseball game. Who will win the game?

It’s a simple question even if the answer isn’t so straightforward.

If you’re just starting out with baseball betting then we recommend betting on moneylines. It’s the easiest one to understand but there are alternatives.

#1: Baseball Run Lines

Next up is the run line and here’s an example:

This is a game from Taiwan between the Rakuten Monkeys and the Fubon Guardians. Great teams with great names. The run line is a bet on the winning margin.

If you’ve bet on hockey before, you’ll know it as the puck line. In basketball it’s the point spread but it all means the same thing.

Here, in our game from Taiwan, the -1.5 figure next to the Monkeys means they are favorites to win by at least two runs. If you bet on that option, a victory by two runs or more will pay out at +110.

For the Guardians to win, a stake on Fubon will convert if they win or lose by just one run. Run Line is an interesting market and it’s popular with our bettors.

#2: Baseball Run Lines

It’s all about the runs and scoring more than the opposition. As a fundamental part of baseball, we all like to speculate on how many runs will be scored. Those predictions can then be put to the test in the Total Runs bet in baseball betting.

Here’s a regular game from MLB:

The LA Angels and the Boston Red Sox are facing off here. Click on the game and the Total Runs line defaults to 7.5. You know how those odds work now so you’ll be paid at -136 for winning bets Over 7.5 and at +112 for those Under 7.5.`

YWhile this run line shows up at 7.5, you can change it. The green circle at the bottom of the image is a slider and you can move it from left to right.

Here’s another option for the same Angels v Red Sox game:

The line is now at 8 and the odds have changed. Options are there to go Over or Under.

But what if there are exactly 8 runs scored in this game? With no winners or losers, the bet is termed as a ‘push’ and your stake is refunded.

#3: Baseball Prop Bets

You’ll hear a lot of jargon from the betting spheres but don’t worry, we’re here to bust it. The word ‘prop’ is short for proposition, and it can relate to specific outcomes within a baseball game.

There are two types of props in baseball betting - team props and player props:

Team props include:

Team to score first and win

Match ups between players – who will score most runs.

Match ups between players – who will score most runs.

To find baseball props, just scroll down past those main markets. You’ll find prop lists with drop down menus.

#4: Baseball Parlays

There’s another piece of jargon: What is a Parlay? It’s quite simply a multiple bet with at least two selections. Parlays can be made up from different bets within a single baseball game or you can combine across two or more matches.

Examples always make things clearer so here is a single game parlay.

We’ve stayed with the game between the Angels and the Red Sox. The two picks are on the Angels to win and Over 8 runs. Before we place a bet, the betslip will show us the odds. Enter your preferred stake and hit the big yellow button.

OK, now here is a 3-leg parlay across a gameday:

We’ve stuck with the Moneylines to keep it simple but you can choose other markets. Our picks for this 3-leg baseball parlay are all moneylines: 

• Pick #1 Angels to win against the Red Sox
• Pick #2 Mets to win against the Phillies
• Pick #3 Rakuten Monkeys to win against the Fubon Guardians

Odds are shown, plus potential returns and nothing will happen until you click the Place Bet button.

When your betting on baseball the important thing to remember with a parlay is that all your picks must win. It only takes one loser for the whole bet to fail. Returns can be higher but they are balance by that greater exposure.

#5: Baseball Futures

There’s a clue in the title here: A Futures bet is a long term stake on a season long market.

Baseball Futures can include 

• A bet on the winner of the World Series
• League Winner
• MVP Winner

Baseball will also be coming back to the Olympics at Los Angeles in 2028. If you can’t wait that long, there will be lots of futures markets in the interim.

Tips And Strategies for Baseball Betting

With more than 25 years in the betting business, we are experts in the field. We’d like to share some of that knowledge with you get you a bang for your buck when you’re betting on baseball.

#Tip 1: Don’t shy away from betting against the public when you drop your baseball bets

When you’re betting on baseball you can just save time and just bet with the public. Probability says that one team is more likely to win so why not just go with them? It’s an option but wouldn’t sport be dull if that happened every time.

You have to judge when the underdog is going to come through because the underdogs have better odds .Listen to the public by all means but you are an individual. Make up your own mind before committing to a stake.

#Tip 2: Do Your Own Research

Researching stats is the best way to come to a decision. Look at form and any previous head to head results. Is the team in good shape? Do they have a good record against these opponents? These are some of the questions you need to ask.

Now look at team news: Is the pitcher or other key members of the team carrying an injury? If so, their chances of winning may be weakened.

#Tip 3: #Tip 3: Should you Parlay?

When you’re betting on baseball you ought to consider your parlays very carefully. They have that ability to create higher baseball odds and some exceptional payouts but it’s important to understand how they work.

Only one of your picks has to lose for your baseball bet to fail. If all picks win, the bet pays out. If you’re happy with that, the question is when to use a parlay when you’re betting on baseball.

The decision is yours, but many bettors like to follow a pattern. If there is a baseball gameday with some short odds favorites, then you can combine them. 2, 3, 4 or more legs involving red hot favorites are common.

It’s all down to your preference once you’re comfortable with the mechanics behind a Parlay.

#Tip 4: Check out Unibet’s baseball betting promos!

We know that there are lots of alternatives for your baseball betting so why should you choose Unibet? Firstly, we like to think that we are among the most competitive in terms of odds. We are crazy about those odds and look to give you value for money on all markets.

You can enhance that value by checking out all of our offers and promotions. There is an opening deal to welcome you on board while ongoing promos can appear for the life of the account. Keep checking the website and make sure you opt in for notifications so that you don’t miss out.