How Does Money Line Betting Work for Baseball?

Baseball is arguably the most popular sport in the world. There are regular season and postseason tournaments held all over the globe. Being a fan of the game feels like a part of the social fabric of humanity. Being able to root for your favorite team while also profiting from your fandom seems almost too good to be true. How does betting work in baseball? Let’s dive in and see.

The Basics

It’s important to note that just because something is legal doesn’t mean it’s ethical or, in this case, good for you as a consumer. Just because sportsbooks are able to offer odds on virtually every game doesn’t mean that every game is bound to payout. The house always wins in the end and all you’re looking for is a way to make sure it’s not you who ends up owing them money.

On the other side of the spectrum, there are the legal sports betting scandals. The vast majority of money line bettors don’t care about scandals. They just want to have some fun and, perhaps, make a few extra bucks. If anything, scandals can create more publicity for a team or player. In the end, though, it’s all about what you as the individual consumer wants to believe.

The Money Managers

Some of the biggest names in the sports betting world manage the wagers of large groups of bettors. For example, the MIT Management Science Club estimates that John McGowan, the brains behind the $11 million dollar winning streak of the New England Patriots, manages $60 million in bets each year. The Patriots have the perfect storm of an incredibly popular team, fantastic odds, and high rollers who can afford to lose big sums of money.

Other big wagers are made out of corporate interests. For example, the Indianapolis Colts have long been one of the most popular teams in sports and the state of Indiana is always among the top contributors to the NFL. It shouldn’t be a huge surprise, then, that the Colts have become one of the most popular teams in the state to bet on, with 15.1% of their total wagers being placed in Indiana compared to just 4.2% for the New York Jets and 3.5% for the Chicago Bears.

The Money Line

On one side of the money line wager, you’ll typically find oddsmakers who believe a team will win. For example, the Over/Under betting system lets you bet on whether a team will score more than the number of points quoted or less. If you think that the visiting team will cover the spread, you’ll need to put down a $100 deposit. The game will then be settled in the final minutes with a winner determined by the total amount of money wagered on the game. It’s important to note that there are no true under dogs in this type of bet. Each team has an equal chance of covering the spread.

How Do I Bet?

It’s important to keep in mind that you’ll need a sportsbook to place a wager. You’ll also need to have an account with them in order to do business. If you’re going to wager just once or twice, you can likely find the information you need on their website. You’ll simply need to input the information manually. For large wagers, you may want to use a phone app that can walk you through the process. Once you’ve filled out the information and verified your email address, you can begin placing your wagers. Keep in mind: the earlier you get started, the better. The later you start, the more likely you are to get overwhelmed and make a rash decision. Plus, the earlier you start, the more likely it is you’ll be able to enjoy the fruits of your labor.

More Than Meets The Eye

There are so many different kinds of bets that you can make. You can bet on the outcome of an individual play, like who will score the first goal in the next FIFA World Cup final; you can bet on which team will win the next MLB season outright; or you can even place a wager on which team will win the next ice hockey world championship. The list of possibilities is endless. It all depends on your whims and what you feel like gambling on at the time.

Bettors can also wager on the over or under performance of certain stats. For example, you can bet that the next time a pitcher walks a certain number of batters, the team will lose. Or you can wager that the next time a team scores a certain number of runs, they will cover the spread. The sky is the limit with stats-related wagers. Just make sure to keep your wagers within the limits set forth by the sportsbook you’re using or they may not take you up on the offer at all.

Where Can I Bet?

Depending on where you are, there will be certain places you can’t bet. For example, you can’t place wagers on any game that takes place within an American Indian Reservation. Certain states and locations within states are also off-limits for betting purposes. You can check the current regulations in your area from the American Indian Councils or your state-run casino. Just because something is legal doesn’t mean it’s ethical or good for you as a consumer. Know before you go!

Final Takeaway

If you’re looking for a way to have fun and maybe make a few extra bucks, then betting on baseball is a great option. Just remember that as a consumer, you’re only hurting yourself by betting on sports. It’s often said that “you can’t bet on love,” but that isn’t quite true. You can’t bet on whether or not you’ll fall in love with someone, but you can certainly bet on whether or not you’ll stay in love with someone. When it comes to anything else in life, you should always bet on experience.