The main difference between baseball betting and other team sports betting for example football and basketball is that when the latter ones use point spreads, the former uses the money line.
What is a Point Spread?
Point spread is the most common gambling type offered in football and basketball gambling. The sportsbook spreads the odd of a particular match by subtracting points from the favorite team, which is the team likely to win and adding points to the loser, which is the team that will raise many eyebrows if wins.
What is a Money Line?
In baseball betting, the sportsbook sets the chances strictly on the outcome of the match. To even the action, bettors would have to risk more money on the preferred and risk less on the underdog. This is called the money line.
As an example, if the money line is minus 170 on the preferred and plus 150 on the underdog, then you would need to bet 170 dollars on the favorite in order to earn 100 dollars. Alternatively, if you bet 100 dollars on the loser, you would win 150 dollars if they would eventually win the match.
The difference between the minus 170 on the favorite and the plus 150 on the loser is named the twenty cent line. If the money line was minus on the favorite and plus 150 on the underdog, it is known as the ten cent line or dime line. The fifteen cent line is also common in baseball betting.
Sportsbooks also provide total bets and run lines in baseball gambling.
1) Total Bets:
These wagers are based on the sum of the runs scored by both of the teams. For example, if the sportsbook sets the over below total of a match as 7, the over wins if the total of the runs scored by both teams exceeds 7 and the under wins if it sums up to less than 7.
2) The Run Line:
This wager is the baseball difference of point spread. When you are betting on the run line, you're betting on whether among the teams wins by more than one run, which is marked as minus 1.5 or stays within one run, marked as plus 1.5.
Conclusion:
Even if the money line makes baseball gambling simpler than football and basketball betting, it causes the payoffs calculation to be more complex:
1) In order to calculate the payoff when wagering on the preferred you should add 1 to the favorite price and divide it with the favorite price.
2) To calculate the payoff when wagering on the underdog you should add 1 to the underdog price.
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