MLB OddsWed, 31 Dec 2008 22:42
How odds affect MLB betting.
Many sports enthusiasts are now doing sports betting. Sports betting is exciting and fun, and can even be very lucrative for those who know how to make good bets. Even Major League Baseball is getting its fair share of bettors. Those who wish to start doing MLB betting should know how to take into account various factors to make wise decisions regarding which team to bet on. Aside from knowing information about the competing teams, bettors should also be familiar with the MLB odds before they start wagering.
MLB odds explained
MLB odds represent the agreement between the sportsbook and the bettor. The odds dictate the amount that the bettor would win in case the team selected wins the game. The MLB odds are usually set by a person known as a bookmaker, bookie, or oddsmaker. With the advanced technology nowadays, though, there are more and more emerging odds that are set by complex computer models that already analyze and take into account the previous performance of the competing teams to set odds and make predictions regarding the outcome of the game.
Before making an MLB bet, bettors must first know what the MLB odds are. It would also be good to know about the different ways by which bettors can wager. These include betting on a side, betting on a run line, and betting on the over/under.
Choosing what kind of bet to make
Many novice bettors choose to bet on a side because this entails simply picking which team is likely to win. Bettors can look at the winning history of the competing teams and base their decision on the information available. The odds for this bet is set by the sportsbook in such a way that betting on both teams is equally appealing. For example, the team with more wins during the season are set with the odds -130. This means that betting on this team will require bettors to shell out $130 so they can win $100. If, for example, bettors want to wager on the underdog that has the odds +150, then they will win $150 dollars for every $100 they bet. These odds can then entice more bettors to bet on the underdog because doing so can have them gaining more profits in case they win.
Relying on more than just MLB odds
Those who wish to engage in MLB betting should take a look at more than just the MLB odds before making their wager. There are also other important factors to consider when making bets. For example, if the team with more wins during the season is losing some key players during a certain game, then they wouldn't have as good a chance of winning as they would if their key players are playing. In cases like this, it may be more advisable to bet on the underdog.
First time bettors will benefit from doing some research first and from asking seasoned bettors regarding betting practices. It would also be good for novice bettors to keep in mind that even research and the predictions of seasoned bettors may turn out to be wrong, so it's best to wager only what one can afford to lose.