Unlike football and basketball, the main way to bet on Major League Baseball is through Moneyline betting.
For those not familiar with Moneyline betting, simply put, Moneyline betting is where you pick the team you believe will win that specific matchup.
There is no point spread to worry about (in MLB betting this is more commonly referred to as the ‘run line’). As long as the team you pick to win wins the game – you win your bet.
If there is a twist to Moneyline betting it’s that the money you need to risk to hit your desired payout will vary based on the team you select to win the game and the matchup itself.
Moneyline betting, like anything else in sports betting, works off the idea of wagering on the favorite to win $100 or wagering $100 on an underdog to win plus-money.
Here’s an example of what a Moneyline bet would look like for Major League Baseball.
at Red Sox (-150)
In the above example, if you believe the Yankees will win the game, you would bet $100 to win $125. If you believed the Red Sox would win the game, and wished to win $100, you would risk $150 on the Red Sox.
Another wrinkle to consider with MLB Moneyline betting deals with last-minute pitching changes. With any given Moneyline wager in Major League Baseball, you are able to bet on two different options: “listed” and “action”.
Essentially what this means is if you select a Moneyline listed wager, the two pitchers named as the starters will both have to start the game for the bet to proceed. If a starting pitcher is scratched right before the first pitch, your bet would be canceled and your money would be returned back to you.
On the other hand, if you take “action” on the Moneyline, your bet will proceed as it is regardless of any last-second pitching changes.
Most professional bettors will suggest you always take the “listed” option, as this gives you more flexibility to reassess your bet if the pitching matchup suddenly changes.