MLB Odds Legend
Moneyline
The moneyline replaces the point spread because most games are low-scoring 2-1 or 4-2 games. The team you bet on has to win the game, not win by a certain number of runs. When you see negative values such as -190, that is the favorite. Positive values such as +170 refer to the MLB underdogs. If you envision the number 100 sitting between these two values, it is easier to understand how it works.
If you want to bet on that -190 favorite, you would risk $190 to win $100. On the +170 underdog, you would bet $100 for the chance to turn a $170 profit if the underdog wins. You have to risk a bit more to back the favorite and you get a higher payout by backing the underdog. That is the way baseball moneyline betting works.
RunLine
Identical to a puckline in hockey betting, this serves as a hybrid of baseball moneyline and point spread. A team has to win by two or more runs in order to win the wager in a runline bet. The negative value of -1.5, for example, would represent a team favored by 1.5 runs. The positive value +1.5 indicates a team is the underdog by 1.5 runs. Picking the favorite to beat the runline means the team has to win 4-2 or some other final like that. A 3-2 victory is a loss on the runline.
The underdog team, on the other hand, can lose by one run and still cover the runline spread. You may see -105 or +130 value connected to the runline. This is the moneyline part and indicates how much you need to risk and how much you will profit. Example: if a team is -1.5, +105 and you wagered $100, that means you would profit $105 (+105) if the team wins by two runs or more. On the other side, for a team that is +1.5, -170, you would have to risk $170 (-170) to back the team. If that team wins, or loses by just a single run, you have a winning baseball wager of $100.
Total or Over/Under
Known as OVER/UNDER odds, this form of baseball wagering involves deciding if the total number of runs scored in the game by both teams combined will be more or less than a certain number. That certain number is an MLB total. Baseball totals usually range from a low of 6.5 to 11.5 or 12. If you see 9.5 and decide to bet OVER, you are predicting 10 or more runs will be scored. If you bet UNDER, you want nine or fewer runs to be plated.
Where you see a moneyline value associated with the 8.5 total, this is the vig or juice for selecting either the OVER or the UNDER. When you see 8.5, u-115, that means the total is 8.5 runs and you have to risk $115 (-115) in order bet the UNDER (u means UNDER). If the final score is 4-3, the total is 7 which is UNDER 8.5 and you pocket $100. You will also see values for the OVER like 8.5, o+115. Here, you profit $115 (+115) by risking $100 if the game ends 8-4 (as 12 is more than 8.5 total runs).
Futures
Which MLB team will win next year’s World Series? Did you know you can bet on that at any time during the season? Oddsmakers set odds in the preseason and adjust them during the year to reflect the strength or weakness of teams. For example, the top contender may be +180 to win the World Series. That means a $100 bet would pay out a $180 profit. The worst team might be +2500. In that case, a $100 wager would pay $2,500 as a huge long shot. But the chances of that happening are pretty slim, so look for good value – a team that is a “sleeper” pick as in a fantasy league or a team you feel is underrated and due for a good playoff run.