Explanation of the Various Bet Types
These are only the major types, please consult your Sportsbook for the types of bets they offer.
Money Line (Betting Sides)
In Baseball betting, bets aren't made on points spreads as in Football. Odds are represented on what's called money lines. These are presented in monetary terms. For example, if you bet a favorite, you will bet more than you will win (e.g. if you bet R110, you could win R100 over-and-above your initial bet). If you bet on a underdog, you will bet less than you'll win (e.g. if you bet R100, you could say R110 over-and-above your initial bet).
If you bet on Team A that are favorites at -145, you would have to bet $145 to win $245 ($145 + $100) if Team A wins. But if you bet on Team A to lose, you would have to bet $100 to win $245 ($100 + $145).
For this bet to be considered "action", the game must go to the losing team's fifth innings, at least.
Listed Pitcher - This bet is on the starting pitchers of a game. A pitcher is considered to have started if he throws the opening pitch for his team. If one, or both, starting pitchers don't start the game, the bet is considered to have no action and the money that was wagered is returned to the bettors.
Specify Team Pitcher - With this bet you only specify one team's starting pitcher. This bet is valid even if the opposing team's starting pitcher doesn't start. This usually only affects the amount of the bet.
Runline bets are a combination of elements from the moneyline and the point spread. The odds are specified in terms of runs. Moneyline favorites are listed at negative runs with the payout reduced and the moneyline underdogs get the listed runs and steeper odds. This is an appealing bet as you don't risk as much on favorites if you believe that they will win by more than the runs that you wagered on.
For this bet the game must go to nine innings (or 8.5 if the home team is ahead) to be considered "action".
This bet is probably the easiest to understand. You get two types of Total betting, over and under.
Let's say the following odds are given:
- Team A: over 10 (-130)
- Team B: under 10 (+110)
For Over bets: The player bets $130 that the total runs scored in the game will be more than 10. If he wins the bet, he wins $230 ($130 initial bet + $100 bet win).
For Under bets: The player bets $100 that the total runs scored in the game will be less than 10. If he wins, he wins $210 ($100 initial bet + $110 bet win)
For this type of bet the game must go to nine innings (or 8.5 if the home team is ahead) to be consired "action".
1st 5-Inning Line
This is more a period than a bet. Bets placed with this option are considered after both teams complete their respective fifth innings batting.
For this betting option to be considered "action", the listed starting pitchers must have started.
Either Team Score in 1st
This bet works exactly as the name says. You bet that either of the teams will score a run or runs in their first innings. You win if a team scores at least a run in their first innings. You can also bet that no team will score in their first innings.
To be considered "action", the first innings has to be completed.
Props (or propositions), vary according the different sportsbooks. Various props betting exists. One example is firsts ( for example will the first pitch be a strike). Consult your sportsbook for the various props they offer.
This type of bet applies to future events. The general rule with future bets is that the payoffs are bigger the earlier you place the bet.