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How to Read MLB Odds
Before you try to read MLB odds, you have to understand what kind of MLB betting lines format you’re looking at — analyzing the meaning of lines is crucial for any baseball bettor. There are decimal and fractional odds, but the most common MLB odds format, and the one we use here, are American odds, which have lines that look like +200 and -110. These odds most often pit the underdog with plus money (+) and the favorites with minus (-). The bigger the number, the larger the underdog or fav.
Moneyline
An MLB moneyline bet is simply picking the winner of a game. It’s important to gauge value, though, as a +200 underdog could be the right play if you think there’s a 40 percent chance they win the game, even if it’s not the most likely outcome.
In a moneyline bet, if you choose to pick the -190 favorite, you would risk $190 to win $100. On the +170 dog, you would bet $100 for the chance to turn a $170 profit if the underdog wins. Success ultimately comes down to picking the winner of a game at the right line value and you can use our MLB odds calculator to help you figure out potential baseball odds profit before you get in the swing of things.
Runline (Spread Bets)
MLB runline bets (sometimes called spread bets) allow for a little more nuance. If you’re looking to bet on a favorite, but the moneyline odds aren’t great value. You can bet the runline (for the team to win by more than 1.5 runs) and get some better value in the line.
This runline spread means the favorite will have to win by more than 1.5 runs (for -1.5) or lose by one run or win outright as the underdog (for a +1.5 line). It’s just like in basketball or any other sport, where a team would be favored by -9.5 points on the spread, but in baseball it’s most common for a team to have their runline set at -1.5 for favorites or +1.5 for underdogs.
Totals (Over/Under)
Just like in every other major sport, you can also bet on totals in baseball. These Over/Under bets allow you to bet on the combined number of runs that will be scored in the game.
If the line for a Yankees vs Red Sox game is set at O/U 9.5 runs, you just need New York and Boston to combine for 10-plus to hit the over, as a 6-4 Yankees win gets you there. If you think both offenses will have a strong day, bet the over. If you’re projecting a pitcher’s duel, the under is a safe bet.
Futures Odds
Not captured in the table above but rather in our futures odds page is championship or futures odds. For MLB, of course, this would entail the World Series, MVP, Cy Young and Rookie of the Year. These are betting markets that are settled over a longer timeframe compared to your day-by-day game betting -- hence the term "futures."
