|
Gambling Tip of the Month: How to Bet on Baseball - Reading Money Lines
Games of football get wagered on more frequently than baseball games.
Not that one provides better odds than the other, football simply is a more
popular game. The action is faster and more volatile than baseball, which
may also be a contributing factor to its popularity with sports bettors.
Whether you are a seasoned football bettor or are simply new to sports betting
in general, there are a few things you should know about placing bets on
baseball games. Due to the nature of baseball games, a money line is used
to match up two teams, rather than a point spread (which is used on football
games). The point differential is far less in baseball games than in
football, thus warranting the need for a money line, which is also used on other
sporting events. What the money lines expresses is the amount of money won
or lost when betting on either the underdog or favorite team (based on a $100
bet). For instance, a money line on a Major League Baseball game may look
like this: Braves -160 Pirates +120. What this means is that the
Braves are favored over the Pirates. The money line is saying that a bet
for the Braves of $160 would generate a $120 win. A winning bet on the
Pirates for $100 would generate a win of $100 (hence the +sign). In other
words, bet $160 on the Braves to win $100, and bet $100 on the Pirates to win
$120. The difference in bet/payout ratios on each team is called the
Vigorish, or vig, and is how the sportsbook makes it money (or keeps it from
going broke). It is a commission, if you will. Using the above money
line as an example, the vig on this bet would be $40 (which is not too good).
The sportsbook only pays out $100 for a $160 bet (a positive difference of $60)
when the Braves win, and will payout $120 on a $100 bet (a negative difference
of $20) when the Braves lose. The result is a $40 profit for every bet
made for and against the favorite. In order to keep the bets balanced, the
sportsbook will lower the vig so that underdog bettors are more enticed to place
a bet.
|