The Latest MLB Betting Odds
Betting on the MLB is extremely popular for several reasons. Played throughout the summer, it’s the perfect sport to fill an otherwise empty sporting calendar.
The world of baseball is also centered around statistics, which means bettors like you can find a huge amount of key data to help pick winning bets throughout the season – this is key to any successful betting journey.
For all of you searching for the latest MLB odds, look no further. We have a mountain of betting knowledge waiting for you here at BetPhilly.
Betting on baseball is a lot different from your usual NFL or NBA wagers, and with a season that spans 162 games each per team and 2,430 games in a regular season, it clearly requires some attention to detail.
That attention to detail is exactly what you can expect here as we guide you through all the facts and betting specifics. You can read up on everything from calculating odds to considering MLB MVP odds, as well as in-depth coverage across all the popular MLB betting lines.
Top Betting Sites for MLB in Pennsylvania
Choosing the right betting site for your betting strategy and money is just as important as learning all about how MLB odds work. Joining the first betting site you stumble across is not something we recommend. Why? Most sportsbooks provide slightly different betting odds, and varying bonuses, and you may even find some sites have deeper betting markets than others.
To make your search for the best PA betting sites smooth and hassle-free, we have created a shortlist of online sportsbooks approved by the BetPhilly team. Take your pick and find the best MLB betting lines designed to boost your winning potential. It makes sense to maximize your money, so take your pick from our recommended MLB betting sites today.
Top-Rated Pennsylvania Baseball Betting Sites:
- FanDuel Sportsbook
- BetMGM Sportsbook
- BetRivers Sportsbook
How to Bet on MLB Games in PA
Betting on the MLB season and placing profitable wagers is now easier than ever, thanks to the arrival of legal online sportsbooks and access to mobile betting platforms across PA. Still, any newcomer can get lost in the mountain of markets, odds, bonuses, and promotions.
Knowing where to bet, what MLB betting lines to put your money on, and creating your own personal strategy are important areas to consider, and we are right here to help you out.
You can find an overview of all our essential betting knowledge in our MLB guide. As soon as you have a solid grasp on the basics of baseball, our expert MLB odds advice will put you in the ideal position to start making informed decisions on the latest MLB betting lines.
Popular Types of MLB Odds
Everyone has their preferences, and in the betting world, you will find three types of MLB odds, which we have listed below:
- American (Money Line)
- Fractional (British)
- Decimal (European)
American Odds (Money Line)
It’s common practice in Pennsylvania to use American odds, commonly known as money line odds or US odds. These are the default odds you’ll be looking at when researching MLB betting lines. In short, a plus (+) or negative (-) sign will be seen next to the MLB odds.
How to Calculate Your MLB American Odds Payouts
Let’s bring two MLB teams into the equation to help give you a real-life betting situation. We will put the Detroit Tigers up against the Kansas City Royals with the following odds:
Detroit Tigers -150
Kansas City Royals +125
Most moneyline bets give the bettor a clear view of either the amount they need to bet to win $100 or how much they would win from a $100 bet.
- The negative number shows how much you need to bet to receive $100 in winnings. A $150 bet on the Detroit Tigers to win would result in a $100 profit (total payout of $250).
- The positive number indicates how much you would win from a $100 bet. In this case, a $100 bet on the Kansas City Royals to win would result in a $125 profit (a total payout of $225).
Some people find replacing $100 with $1 amounts more convenient when calculating MLB betting lines. Here, you will gain $1 if you bet $1.50 on the Detroit Tigers to win.
Wagering $1 on the Kansas City Royals would return $1.25. Using this method, you can easily multiply up or down depending on the bet amount to calculate your profit potential on your MLB odds.
It is rare to come across fractional odds when checking MLB betting lines, but that is not to say you will never see them. If you do, the easiest way to look at them is like this: “how much you can win / how much you bet”. These odds are occasionally used in the Futures market.
How to Calculate Your MLB Fractional Odds Payouts
For example, the LA Dodgers to win the next World Series before the season starts could be priced at 4/1.
A $100 bet on 4/1 odds would return $500 ($400 in profit plus your $100 bet).
Punters can also find the numbers reversed, indicating an “odds-on” bet, or in other words, a favorite. Let’s say the LA Dodgers to beat the Detroit Tigers is calculated at 2/7.
A $100 bet on 2/7 odds would return $128.57 ($28.57 in winnings plus your $100 bet).
Decimal odds are a lot easier to work with than fractional odds. Essentially, the numbers you see represent multipliers. The smaller number indicates the favorite out of the MLB odds, while the bigger number indicates the underdog.
Let’s bring back the Detroit Tigers vs. Kansas City Royals game to help shed some more light on decimal odds:
Detroit Tigers 1.66 (favorite)
Kansas City Royals 2.25 (underdog)
How to Calculate Your MLB Decimal Odds Payouts
With decimal MLB odds, the total payout amount is calculated by multiplying the bet by the decimal value. In this example, a $100 wager at odds of 1.66 would return a payout of $166. Due to the inclusion of the opening bet amount, your total profit would be $66.
Understanding Odds & MLB Betting Lines
You must learn to appreciate how the popular markets work to succeed and earn profits across MLB betting lines. Only then will you be able to accurately read MLB odds and pick out the high-value bets that bring home bigger and more frequent winnings. We have listed all the top MLB betting markets below, giving you an insight into where you should put your money.
MLB Moneyline Odds
Your only task in this popular betting market is to pick the winning team, but the prediction is complicated by several baseball-linked factors.
Key points include the starting pitchers changing from game to game and the bullpens affecting the outcome. It is also quite challenging to forecast the point when batters reach their peak performance over such a long season.
“The unpredictability of baseball could find MLB playoff odds showing a play-off bound team at only -150 favorites, while a mediocre underdog team could still be around the +125 mark.”
MLB Run Line Odds
You have probably heard of point spread betting and covering the spread in NFL and NBA. MLB gets its own version in the shape of the run line. Due to the low-scoring games found in baseball, run lines are often based on +1.5 and -1.5, with these numbers representing runs.
“MLB odds for run line betting can be so tight that it can often swing a favorite into underdog territory and vice versa.”
MLB Over/Under Totals Odds
Looking for MLB odds on the total number of runs can go either way, from close pitching duels ending in 1-0 or 2-1 scores to a 9-8 nail-biter if the batters are on their game.
In most cases, the over/under total runs line will be between 7.5 and 10.5, while alternative betting totals will provide you with a wider range, usually sitting anywhere from 5 to 16.
“The over/under runs total betting market is a great alternative when you can’t decide which MLB team will win.”
Unique MLB Odds & Betting Options
Like most US sports, baseball covers many betting options to keep beginners and experienced MLB punters entertained.
Any top-rated sportsbook listed here at BetPhilly will provide a wealth of markets, from the basic MLB betting lines mentioned above to advanced options based on the most valuable players and the teams with playoff potential.
Here are some popular unique options that MLB odds betting can deliver across the season.
MLB MVP Odds
A lot more potential for bigger returns, but this is notoriously hard to predict. The Most Valuable Player is often based on statistics, and it is rarely ever a pitcher.
First Five Innings Odds
A useful betting market that removes a lot of the bullpen issue from the equation, focusing on the starting pitchers and who will win in the first five innings.
Home-Run Scorers Odds
Deciding on how many home runs or if there will be at least one brings more of a fun side to betting, although there is still good money to be made in this exciting market.
MLB Playoff Odds
MLB playoff odds fluctuate throughout the season, meaning those who can predict any early favorites or late arrivers to the top of the standings can find value.
Key Points for MLB Odds & MLB Betting Lines
To round up our in-depth guide to MLB odds and betting markets, we wanted to point out some key points that will help your research and, hopefully, help you to pick out more winning bets.
Player-Specific Key Points
- Young vs. Old rosters can help sway the odds
- Pitching matchups between two “aces” can result in low-scoring games
- Pitching depth can often result in strong rotation and more wins
- Batter form can fluctuate and heavily influence team performance
Team-Based Key Points
- Look out for hotly-contested rivalries
- Check division strength for competitive fixtures
- Rubber games often bring out the best in teams