MLB betting Guide: How Does MLB Betting Work?

Major League Baseball: It’s the biggest and best league in the world and we’re rightly proud of it. Teams from the United States, plus one Canada, battle for the right to become World Series Champions.

While we cover a big range of baseball competitions, MLB attracts most interest. If you want to know more, let us guide you.

If you want to get started, there are two key questions to ask:

1. What are MLB Odds?
2. What are the different MLB bets out there?

What are MLB odds and how do they work in the MLB

We’ll talk about MLB odds first. These tell us two things:

• The probability of an event happening such as either team winning
• How much you will be paid for a winning bet

The probability bit means we need a favorite and an underdog. The favorite, by definition, has a higher chance of winning. The underdog is the outside bet.

We’ll be using a lot of images to illustrate things - here’s the first.

This is a regular season MLB game between the Dodgers and the Pirates. The Dodgers have a minus prefix before their odds and this means they are the favorites. The Pirates have a plus sign. That + prefix makes them the underdog.

That’s probability done and dusted: The team with the shorter odds is the favorite. The team trailing behind is the underdog.

The second question related to payouts. How much do we win if we back the right team? The answer lies in the specific numbers. At -240, we need to bet $240 on the Dogers to win $100. If the Pirates win, a wager of 100 Bucks wins $195.

Public betting in MLB

MLB betting carries terms and jargon that we need to understand. Betting with the public is a common phrase. Behind it lies the fact that the public has a big say in setting the odds.

As the markets open, the betting starts. A higher percentage of bets go to the team that seems more likely to win. The public has had a say and our odds setters make the final call. Between them, they set the MLB odds that you see on our sportsbook.

What are the different MLB bets?

If you remember, this was your second important question. What MLB bets can I consider at Unibet? You’ve already seen one from that game between the Dodgers and the Pirates.

Here’s another from the same game week:

This time, the Brewers and the Reds face off. The bet on the result is known as the Moneyline. Making the right call may not always be easy but it’s a straightforward question. Which of the two teams will win?

Make your prediction and choose a stake that you are comfortable with.

MLB Run Lines

There are similar markets in other sports: If you bet on basketball you’ll know this as the Point Spread. It can all be summed up as a bet on the Winning Margin.

Here’s what we mean:

This is the Run Line market from that same game between the Brewers and the Reds. The figure of -1.5 here means that the Brewers are favorites to win by at least two runs. If you take that bet, you will need to stake $125 to win $100.`

You can also bet on the Reds. For Cincinnati to convert, they would need to win the game or they can lose by just one run.

Run lines can usually be adjusted. See that green circle at the bottom of the image? This is a slider and it puts you in control. Move it from left to right and different run line options emerge.

MLB Total Runs Bet

You’re probably ahead of us on this one. The Total Runs market is a bet on the number of runs scored in a game. Examples illustrate this nicely so here’s another real-life option from MLB.

The line defaults to 8.5. A bet Over 8.5 runs pays at -106 if there are 9 runs or more. If there are 8 runs or fewer, a bet pays out at odds of -115.

Those odds might not sound very interesting. There are ‘minus’ figures on both possibilities but it’s OK. We can change things around if we want to.

Once again, the slider is in play so let’s see it work its magic.

We’ve made a small change and set the new run line at 9. Now we have some + odds if we want to go above the new line.

By the way, if the runs total lands exactly on the line, the bet is declared a ‘push’ and your stake is refunded. The slider simply allows you to change it up and find a line that suits you.

MLB Props

A prop is short for proposition. It’s available for most sports and there’s a good choice for MLB games. MLB Props are separated into two sections – team and player.

Team prop bets in the MLB can include:

Team to score first and win

Player props include:

Match ups between players – who will score most runs out of the players specified.

The amount of props may vary depending on the importance of the game. To find them, just scroll down beyond the main markets. A set of drop-down menus will then reveal what’s available.

MLB Parlay Betting

The latest round of jargon busting takes on Parlays. A parlay is simply a multiple bet with two or more selections. You can stake within a single game or, you can spread your parlay over two or more MLB games.

Here’s a single-game MLB parlay in action:

In that game between the Brewers and the Reds, we’ve gone for the Brewers to win and Over 8.5 runs. Once these are added to your betslip, the odds calculation will appear. When you enter your preferred stake, the potential payout is shown.

If you are happy with everything, just click the yellow button on the bottom right. The bet is placed and you can wait for the outcome.

Now let’s look at a parlay across three MLB games.

To keep it simple we’ve stayed with the Moneyline for all picks in this 3-leg MLB parlay. We’ve gone for the Brewers, the Dodgers and the Blue Jays all to win.

You might agree or you may think we’ve lost our minds – it really doesn’t matter. The point is that you have an illustration. The MLB odds are there together with the potential payout.

Parlay betting can have benefits. The odds increase and the payouts are greater when they land. However, it’s important to understand the mechanics.

With any parlay bet, all of your selections have to win. If one or more fail, then the bet is lost. The higher odds are therefore counterbalanced by the greater exposure.

MLB Futures Betting

It’s time to get the crystal balls out. A Futures bet is literally a look into the future. Here, we are considering long term markets. These may include:

• World Series winner
• MVP winner

The World Series option is the most popular. It’s available all year round and will open almost as soon as the previous season comes to an end.

Here’s a useful tip: The longer odds are available in those early stages. When the regular season starts, the prices on your favored teams will shorten if they open strongly. You may want to get in early for the better prices.

Tips and Strategies for MLB Betting

It’s only fair to share some of our knowledge. We have learned quite a lot about MLB betting after offering it to our customers fort over 20 years and are happy to offer some advice. There will never be any guarantees, but you should be better prepared if you continue reading.

#Tip 1: Make your picks against the public in the MLB

The public at large have that big part to play. Betting with the public means that you are following the laws of probability by backing the favorite. By betting against the public, you are taking the minority view and staking with the underdog.

Probability is the key word here. The favorite has a better chance of winning but favorites don’t come through every time. It’s up to you to make the final call.

#Tip 2: Research, Research, Research

How do you come to a decision? When you’re betting on MLB games research is your biggest ally. Here are some of the factors that you should consider while indulging in MLB betting online:

• Form
• Head-to-Head Results
• Team News
• Home vs Away Field Records

Form is an obvious starting point. If a team is on a five-game winning run then that’s a good sign. It also means that they are likely to be red hot favorites. If form isn’t so solid, consider the opposition.

Head-to-head results can also offer strong indicators. If one team has a solid record against their opponents, will it continue.

Team news should be studied. Absences due to injury or any other reason may weaken a roster. Chances of winning may be reduced and you’ll need to take this on board.

#Tip 3: Consider your MLB Bets

What type of MLB bets interests you? If you are just starting out with MLB betting then the Moneyline can be a good option. The call isn’t easy but there are just two choices. Which of the two teams is going to win?

The MLB run line - winning margin bet is more complex but the odds can be higher. Props are interesting and may require a little more analysis.

MLB Parlays take those odds even higher, but the exposure is greater. Remember that all legs of the parlay need to win in order for the bet to pay out. The choice is yours but do take time to give this some thought.

#Tip 4: Maximize your Value With MLB Betting Offers!

Not every sportsbook has the same odds. Some are more competitive than others and you need to be aware of that. At Unibet, we are crazy about odds and work hard to make sure that they are up there with the rest of the industry.

To enhance that value, we also publish a set of offers and promotions. There is a welcome bonus when you sign up while ongoing promos can appear for the life of the account. Be sure to opt in for notifications while checking the promotions page of our website. We don’t want you to miss out on the latest deals.