Baseball wagering is based on a money line, which means laying or taking money odds. Unlike poinstspread bets, the payoff on a winning selection varies according to the odds. Baseball odds are expressed as 3-digit money line. All money lines are based on $100.
The minus (-) on the electronic wagering display and wagering sheets next to the starting pitcher indicates the favorite. The plus (+) indicates the underdog.
|Game Time||Bet #||Teams||Probable Pitchers||Money Line||Run Line||Total|
|1:05 PM||903||CHICAGO||ARRIETA||-115||-1½ +140||9½||-110|
In this example, Philadelphia is the home team. Chicago is a -115 favorite, which means for every $100 the player wants to win on Chicago, he must lay $115. To win $10, he would bet $11.50 and collect $21.50 if Chicago wins. A wager on Philadelphia would win $105 for every $100 wagered or $10.50 for every $10. A $10 wager would return $20.50.
The number to the right of the Money Line is the Run Line. The Run Line in baseball is similar to the pointspread in other sports, except the payouts vary according to the money line odds and are not most often set at -110 on each side. The player making this wager is getting 1 ½ runs with Philadelphia by laying $160 for every $100 he wants to win. Philadelphia could lose the game by 1 run and the player would still win. The player may wish to give 1 ½ runs with Chicago and win $14 for every $10 wagered. Chicago would have to win by 2 runs.
The number at the far right (9 ½) is the Total (Over/Under) on the game. This is the combined number of runs scored by both teams. The player may wager on the game to go over or under this number. This price is -110 on each side in this example. If final score falls exactly on the number, the wager is “No Action” and will be refunded.
When betting the Run Line or Total, the game must go 9 innings or 8 ½ innings if the home team is ahead. Both listed pitchers must start the game or the bet is refunded. All runs scored in extra innings count in total bets.
LISTED PITCHER(S) OPTION
When wagering on baseball, the player may choose to apply one of the following methods to each bet.
- Action – Team against team regardless of the starting pitcher. Since baseball odds are dependant upon the starting pitchers, all action wagers are subject to odds adjustment if the actual starting pitchers are different from those listed on the board at the time of the wager.
- One Specified Pitcher – A wager on or against one specified pitcher, regardless of the other starting pitcher. In the event that the specified listed pitcher does not start, the bet is “No Action” and the wager will be refunded. The wager will be subject to an odds adjustment should be there be a change in the other listed or starting pitcher.
- Both Specified Pitchers – A wager in which both listed pitchers must start the game. If one or both of the specified pitchers listed on the wagering ticket do not start, the wager will be deemed “No Action” and refunded. For Parlay wagers, If one or both of the specified pitchers listed on the wagering ticket do not start, the wager will be deemed “No Action”.
In the event there is a pitching change prior to the game, money odds, totals and run line odds may be adjusted. If one scheduled pitcher starts against an unscheduled pitcher, “Action” wagers will be computed by the opening price with the new pitcher.
A pitcher is deemed to be a started pitcher after throwing one pitch at the start of the game.
In baseball, up to ten teams may be used in a parlay with a maximum of ten underdogs. The maximum payout shall not exceed 720 to 1. Totals may also be included in parlays. In a parlay. all teams chosen must win or the bet is a loser. In the event of a rain-out, cancellation or tie, the parlay is reduced to the next lowest number of games, For example, a four-team parlay with one rain-out game becomes a three team parlay; a two-team parlay with one rain-out game becomes a straight bet on the remaining game.
Baseball parlays are calculated at true odds by taking the player’s original wager plus winnings and applying it to each successive game, using the money lines at the time of the wager. Calculating baseball parlay payoffs can be tricky, but the wagering terminal will quickly calculate and display the payoffs for a player when the bet is entered.