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How MLB odds work

Bet on MLB

If you want to place a bet on MLB at Canadian betting sites, it is always best that you understand exactly what it is that you are betting on. Even a base level of knowledge is helpful to start things off as most betting is not easy to learn on the fly.

In baseball, there are lots of bet markets that you can choose from and the MLB odds come in all different formats, but what do all the numbers actually mean? This is the perfect place to start.

Formats of MLB odds

There are three main types of MLB odds display that you will find on sports betting sites and these are generally used in different parts of the world. While most bettors in Canada will not come across all three of them, it is worth knowing each and how you can convert one to another so that you always know what odds you are taking on an MLB bet.

Decimal MLB odds

You can find decimal MLB odds on offer across most of the sports betting world given that it is by far the most common method across the vast majority of countries that have legalised online betting. The MLB odds are displayed as an odds that includes your stake so a 2.0 will return $2 for a $1 bet. They are by far the most simple for a novice bettor to understand so we would advise anyone who has not got much experience with betting sites to find the odds on their site in question and make decimal odds the default setting.

American/Vegas MLB odds

These are the MLB odds that you will see on a lot of North American sites, displayed as a + or a – figure. The + figure is what will be won for a $100 stake but this time without the stake included in the figure. So, +100 odds would return $100 if the bet on MLB is a successful one plus the stake back so $200 in total.  

Fractional MLB odds

These are not MLB odds that you will see very often in Canada as they are most often used in the UK and Ireland for horse racing betting. They are made up of a numerator and a denominator with the former being the return for the stake which is the latter. For example, MLB odds of 1/1 would be the same as 2.0 or +100 with 1 returned for every 1 staked, plus your stake back.

What betting markets can I get MLB odds on?

MLB Odds

There are many different markets which can be bet upon when it comes to baseball betting. While this is by no means an exhaustive list of all of them, there are the most popular that you will find MLB odds on.

Moneyline odds

This is the most simple bet market in MLB that you will be able to find. A Moneyline odds is just about finding the winner of the game. It is just picking either Team A or Team B to come out on top and with extra innings in play and no draw possible, it is as straightforward as any market that can be found.

Run line odds

The run line odds is also known as a handicap market which bids to make things more of an even playing field between the two teams that are playing. For example in a MLB game, if the Los Angeles Dodgers are taking on the San Diego Padres at Dodger Stadium, the Dodgers would be the favourite. 

As such, they might have a theoretical run line of -2.5 to give up to the Padres so if you back the Dodgers, you would need them to win by three or more runs. If you back the Padres, they could lose by two runs and you would still win the run line bet as they would win by 0.5 runs.

Under/over odds

This is a market where the total runs scored in a MLB game is what the bettor is after. The sports betting sites in Canada will set a line and it is the task of the bettor to decide whether the teams will score more or less runs than that over the course of the game. 

For example, the New York Yankees and the Boston Red Sox are playing in Yankee Stadium, the betting sites for MLB are expecting runs so they set the line at 12.5. If you think that the teams will combine for 13 or more runs you would bet on the overs but if you think that there will be 12 or fewer runs scored in the MLB game, than you would bet on the unders.

MLB prop bets

Prop bets in MLB cover a wide range of things that can happen during a game but without the need to wait for the final score to win or lose the bet in question. These can be split down to just an inning at a time so you can bet on Team X to score a run in the first inning for example. 

A lot of the prop bets that you can find MLB odds on are player-specific ones. These range from a player to hit a home run in a game, to driving in a number of runs, to get X hits or to get a certain number of strikeouts. 

You can also find some fun MLB prop bets for things like the All-Star Game and even props that last just a single pitch like predicting if the first pitch of a game will be a ball of a strike. That is not for everyone but it is worth looking over some of the many options out there on each game for odds on something that is a little different. 

MLB parlays

This is a much more difficult type of MLB bet to land that is also called an accumulator in certain markets. The aim is to put a number of bets together into one bet. These are available on a number of markets so you can place bets on with moneyline, run line and under/over all possibilities for a MLB parlay bet market.

You can put together any number of odds selections that you like but they all have to be winning selections if you are to win the MLB bet. You can start with just two selections as a double or three for a treble with most sports betting sites accepting MLB parlays up to about 20 different selections of odds.

The more selections that you put in, the harder the MLB bet is to win but the higher the potential reward is so there has to be a balance struck between a big return and making it an achievable one. On a day where all 30 MLB teams are playing, you could do a 15-team parlay and try to pick the winner of each game but that kind of sports bet takes a lot of luck to win.

Find the best MLB playoff odds

LeoVegas Free Bet

All of the sports betting sites in Canada will offer MLB playoff odds, though some might not be providing them very early in the season but there will be futures betting with the MLB odds on each of the teams making the playoffs at the start of the season.

There will also be odds available for each playoff game when it comes to the time of the MLB playoffs in October. The MLB odds will include all of the bet markets that we have mentioned above on every game, with parlays available for those who would like to combine them.

You will often be able to find a similar type of bet market before the season starts with the MLB divisions winner odds. These are often a popular six-team MLB parlay with bettors looking to predict the winner of each of the divisions before the season gets underway.

When are MLB World Series odds available?

There are usually MLB World Series odds available almost from the moment one World Series has finished until the start of the next one. Betting on futures in this way can be very rewarding as the teams who are fancied are often the biggest MLB odds at the first minute that the betting market opens and gradually get shorter through the season as the wins continue to rack up.

MLB World Series odds are always changing so they are something that are worth keeping an eye on the sports betting sites for. A team that gets off to a slow start but has injured players might become a MLB World Series odds that you believe to be too big in the market, and that odds will contract as soon as those players are back and start to win games again.

It is a great way to back more than one team to cover a number of options as the season goes on and the MLB odds fluctuate. A great battle with the best betting sites in Canada and also with yourself is when to commit to a bet on the MLB team that you like before the odds starts to contract again.

What are the best MLB prop bets today?

As baseball is one of the most stat-heavy sports out there, you will be happy to learn that the options for MLB prop bets today are wide-ranging. There are a lot of different tipsters out there who provide odds for MLB prop bets but there are very few of these who make a profit.

Before following any MLB prop bets today, we would advise watching for a while and checking out the profit and loss for the tipster in question to make sure that you are getting the value that you need out of it. There is nothing wrong with forming your own opinion on a game and seeing if the tipsters back it up to give you more confidence. Never just back blind on any MLB odds, make sure that you know what you are betting on.

Tips for MLB betting in Canada

That last bit of advice brings us nicely to this last section. There are some things that you can do in a bet on MLB to maximize your success when you are looking over the MLB odds to find your perfect bet. 

First and foremost is to place a MLB bet on something that you know. If baseball is not a sport that you currently follow, it is a good idea to watch the sport for a while first so that you gain a deeper understanding of the many nuances of the game which in turn, will help you when it comes to placing bets on MLB.

When you have found a bet that you like with MLB odds that you feel are right, make sure that you shop around in case other sports betting sites in Canada are offering larger odds still. Being able to take the largest odds on the MLB betting market is a huge benefit to any better in the long run rather than taking MLB odds that are below what is in the marketplace elsewhere. 

Last but probably the most important is to always stay in control of your betting. Never have a bet when you are upset or in a poor mood. Chasing money after a MLB betting loser or two is never the way to win it back, so please do not bet more than you can afford to lose.

Betting Insights

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