My foray into the world of sports betting was as a punter, primarily following the ups and downs (well, mostly downs…) of my local team as they battled against the ever-present threat of relegation. Over time, I began to become more and more interested in the ins and outs of various strategies and became adept at spotting a good operator.
My day job was, at the time, writing and editing for a local newspaper, so turning my professional skills to my interest in sports betting followed naturally. I started writing about sports betting as a hobby initially with my own blog, analysing odds and providing betting tips where I thought I could find value. Eventually, I was headhunted to write the same content for a betting firm, which resulted in me leaving my local paper job behind and turning my professional interests solely to sports betting writing by 2017. Since then, I have been proud of the body of work I have been able to produce.
Using my interest in all aspects of the sports and gambling world to guide me, I now write for Betting.net, compiling operator reviews, bonus reviews, and sharing the tips and tricks across our various sports betting guides. When I’m not at my keyboard, I am an avid rock climber, with an ultimate goal of eventually ascending the Seven Peaks — if I can fit it in between penning the latest bookmaker review, that is!
Baseball is one of those games that calls forth wistfulness in Americans. Although people in the land of milk and honey enjoy basketball and football, they simply love baseball. That said, there is an immense number of baseball fans looking to bet on their favorite MLB teams.
Now in order to be successful at this, you’ll need to find the best baseball odds on the market. We’re here to assist you in your journey to exploring and finding the best baseball odds destinations in town, so join us as we continue.
The most important reasons to compare baseball odds – Profitability!
While some people may be of the misconception that comparing baseball odds is not worth the time and effort, this is completely untrue. In fact, comparing baseball odds is essential for any avid punter who wants to make a profit when placing their bets. Therefore, it’s imperative that you compare the odds before placing your wages.
The good news is that it’s a fact that you will make more money when comparing baseball odds statistics. Additionally, you can raise your winnings as well by comparing odds. So one thing you’ll also notice about odds is that they tend to increase and decrease consistently before placing your wagers. So make it a point to check your baseball odds and see which sportsbook has better odds frequently.
How do bookmakers determine their baseball odds? – Understanding their process
Bookmakers basically take in proportionate amounts of wagers in any given market, be it baseball, basketball, football, etc. The purpose of varying odds for any given event is to determine the true probability of any given outcome. In this case, outcome refers to any possible results that may cause a bookie to pay out, be it because of an away win, home win, or draw.
So some of the factors that bookies consider when determining the odds include statistics, prior form, expert opinions, and historical precedents. Any number of other factors that could impact the outcome are taken into consideration. Ultimately, after considering all of the above-mentioned factors, the bookmaker will be left with what they believe is the most accurate possible odds of any outcome.
Why do odds vary between bookmakers?
Additionally, sportsbooks will need to take into proportional amounts of wagers in the markets. Ultimately, they have to get in some profit irrespective of the outcome. So what this means is that if the betting market has generated lopsided wagering, then it’s highly likely that the other side of the bet is offered at a discount. Ultimately, by increasing or decreasing the points spreads or money lines, for example, they will either encourage or deter a bet towards one side. This balances out the possible outcome of the results in their favor.
Overround can be best described as the practice of factoring in the profit margin that bookmakers layout. This is displayed as a percentage in most cases. The level of overround varies between different bookmakers and also differs when focusing on specific events and markets.
Most popular odds formats explained – American, fractional and decimal
Odds are displayed in different formats across bookmaker platforms. These formats vary but ultimately function in the same way and serve exactly the same purpose. So let’s take a closer look at them.
Decimal odds explained
Decimal odds are common and preferred in countries like Australia, Europe, and New Zealand. Consequently, they are also the most logical of all odds formats. Basically, the two possible outcomes are displayed as a ratio with decimal odds. So all you need to do is calculate your possible winnings with decimal odds by simply multiplying your stake by the odds.
Example: If the decimal odds are 5.5 and you bet $1, you would receive a $5,50 return if you win.
Fractional odds explained
One of the oldest and also more traditional odds formats around the world is fractional odds. It’s also still commonly used in Ireland and the UK. When it comes to horse and greyhound tracks, you’ll also find them being used in the US. However, as the name suggests, fractional odds are displayed as fractions; therefore, it’s not appealing to everyone, and it’s not for everyone. Basically, fractional odds are displayed with two numbers that each represent two possible outcomes of an event, for example, 2/1.
Example: If the fractional odds are 10/1 and your stake is $1, you win $10, and you’ll get your $1 back., making your return a total of $11.
American odds explained
American odds or Moneyline is commonly used in the US and Ireland. This is why it’s also commonly referred to as “American odds.” It’s also one of the easiest and quickest ways to read odds for punters and is basically tailor-made with betting in mind. You should take note of two numbers when it comes to understanding these types of odds in Moneyline form, and they are reflected as positive and negative.
Example: If the odds are +200 and you stake $100, you would make a $200 profit from your $100 stake, and the bonus is that you get back your $100 stake. So ultimately, you would win $300, including your $100 stake + $200 profit.
How to calculate the expected value – And why it’s necessary
If you’ve heard about expected value sports betting but don’t fully understand what it means, then you’re not alone. Because many people don’t understand what expected value is and how it applies to their sports betting experience and profits, they basically don’t bother to apply it to their wagers. So in this section, we’re going to explain exactly what expected value is and why it’s quite a significant factor when it comes to your return on investment.
Perhaps the simplest way we can put it is that expected value is a way to measure the probability gap between the sportsbook and a bettor’s expectations.
How to Calculate Expected Value
The formula for calculating Expected Value is not rocket science – simply multiply your probability of winning with the amount you could win per bet, and subtract the probability of losing multiplied by the amount lost per bet:
(Probability of Winning) x (Amount Won per Bet) – (Probability of Losing) x (Amount Lost per Bet)
So the entire point of expected value or weighing your wagers via expected value is that it gives punters a sharp advantage over other bettors and is one of the few edges that you can take against a bookmaker. Admittedly, one of the most common mistakes made by beginner punters is that they tend to scramble to the board at the last minute to look at the baseball odds on a Sunday morning, hoping to pick a winner.
However, on the other hand, more seasoned punters who are familiar with expected value look for lines that oddsmakers give to every game as early as possible. By giving yourself enough time to figure out the odds, you’ll be able to determine whether that bet is either overvalued or undervalued. The best baseball bettors make it a priority to find value earlier on in the week.
Other tips for increasing your return on investment aside from shopping around for the best baseball odds include:
Not betting on your favorite team.
Not betting on everyone’s favorite team.
Not betting on everyone’s favorite league.
Additionally, watching out for home favorites and staying away from heavy favorites is recommended. When in doubt, the best bet is usually no bet.
Why loyalty doesn’t always pay – Multiple bookmakers are the key!
People tend to shop around for pretty much everything, including food, clothing, cars, and appliances. But when it comes to sports betting, the same principle is very rarely applied. However, by shopping around, you can find better odds and betting lines and risk less, and win more. So here are some other advantages of shopping around and using multiple bookmakers:
Expanding your knowledge of bookmakers
Ultimately, sports betting will become more serious for you by shopping around, and you’ll learn how to research and study odds and lines.
Bonuses and promotions
By signing up and creating accounts on several different bookmaker sites, you’ll be able to cash in on more bonuses and promotions, including special deals, and ultimately increase your bankroll.
Other factors to consider when comparing odds – Great odds aren’t the entire package
While shopping for the best baseball odds is all good and well and is also a significant part of the process; there are other aspects that should be taken into consideration when shopping around for the best baseball odds.
For one, consider bonus offers from bookmakers. It could be that placing a wager at slightly less valuable odds with a sportsbook that offers a fantastic bonus is still worth your while because of the value of the bonus.
Additionally, if you place a wager on an important game with great hockey odds, but somehow it doesn’t go through, you’ll need to get in contact with another person on the other end immediately. This is where competent 24/7 customer service comes into play and is crucial to your overall betting experience.
Live betting is more than just an adventure; in fact, it’s like an adventure to an unknown destination, and while it’s full of amazing opportunities, there certainly could be extreme danger lurking as well. This basically means that you can either make a fortune or lose your entire bankroll quicker than you can say “Jack Robinson.” However, there are a few tips to win using the live betting strategy.
Cover pre match bets: The early cash-out feature is one that many established bookmakers offer and can be used as a weapon to make your bankroll safer. So if you placed a bet and the odds are coming against you, then you can simply close your bet by cashing out early and still end up with profit irrespective of the outcome of the final score.
Halftime: In live betting, halftime is your friend. While there is no “halftime,” so to speak, in baseball, there is a break for both players and fans to relax, and this is your opportunity to pin down good baseball odds.
Conclusion – Shop around for the best baseball odds in town
Shopping around for the best baseball odds is highly advised since it allows you to maximize profits and minimize your liability on defeats. Opening multiple accounts are highly recommended, although it can tend to be challenging.
By doing this, you’ll have the opportunity to explore and take advantage of bonus offers and expand your knowledge of how bookmakers work. The good news is that our team at Betting.net has put together reviews, guides, and resources to help you on your adventure to find the best odds and place your bets with the best bookmaker destinations online.
There are a number of ways to find great baseball odds. However, you need to fully understand how they work to be able to take full advantage of them. The good news is that our experts at Betting.net have a wealth of resources to help you find the best baseball odds today.
🧢 Should I stick with one baseball betting provider?
Sticking with one bookmaker or joining multiple ones is ultimately a matter of personal preference. However, there are advantages and disadvantages to both. We have loads of information and guides to help you make a well-informed decision. So whether you want to learn more about baseball odds or baseball odds playoffs, we’ve got you covered.
🥎 What factors play a role in baseball odds?
There are many factors that play a role in baseball odds. While some of them are obvious, others are simply overlooked. The best way to take all factors into consideration is to educate and inform yourself, and you can do that by reading through our reviews and taking advantage of our many resources when it comes to baseball bookmakers and the best baseball odds.