Everything you need to know about betting on MLB
Welcome to our MLB betting guide with focus on the New Jersey state. Here we hav gathered everything you need to know when online sports betting on Baseball and the MLB.
We go through the most popular MLB betting lines, the different MLB bets available and why you always should compare the odds between NJ sportsbooks before placing a wager.
Legal overview on Betting on MLB in New Jersey
Similar to most states, New Jersey requires gamblers to be at least 21 years of age before placing bets.
New Jersey residents are not allowed to bet on colleges inside the state either. There are no restrictions besides that.
New Jersey’s sports betting community continues to expand, as they accepted over $950 million in wagers in January and set a new state record of $82.6 million in revenue.
Types of MLB Betting Lines
MLB MONEY LINE BETTING
Money Line bets are great for gamblers who just want to bet on the team they believe will win. The odds will vary based on the size of the favorite.
For example, with BETMGM if you wanted to bet on the -175 Yankees against the +140 Blue Jays, you would need to wager $175 to win $100.
If you wanted to bet on the Toronto Blue Jays, a $100 wager would win $140.
MLB Run Total Over Under Betting
For these bets, bookmakers predict the “Total” amount of combined runs that will be scored in a game. Gamblers then have the option to bet whether the actual runs total will be “over” or “under” the bookies total.
These totals typically range from 6.5 to 12.0, depending on starting pitchers, injuries, and other factors. The odds will stick around the –130 to +110 range.
MLB Run Line Betting
Run Line betting works just like the Puck Line in hockey; the line is always 1.5.
This means that the favorite (-1.5) needs to win by at least 2 runs to win the bet; otherwise, the underdog (+1.5) will be victorious.
The odds will vary based on the size of the favorite. For instance, if the Yankees were slight -115 favorites on the money line, they would offer odds around +210 on the run line.
But if the Yankees were –235 favorites on the money line, they would only fetch odds around +105 on the run line.
On the other hand, if the Mets were slight -105 underdogs on the money line, they would be around -250 on the run line. However, if the Mets were +195 underdogs, the run line would be close to -125.
MLB Parlay Betting
Parlays are risky, but they can offer very nice payouts. A parlay is a wager placed on a group of bets. All bets in the group must be winners for the parlay to be successful; if any bet loses, the parlay loses.
Additional bets in the parlay can increase your potential payout but will also decrease your chances of winning.
For example, if you like the Yankees at -175 and the Phillies at -125, you could parlay them together for odds around +185! This is a valuable option if you have multiple bets you are confident in.
MLB First Five Innings Betting
Another option for MLB gamblers is betting on the first five innings.
Sportsbooks lower the run line from 1.5 to 0.5 and adjust the over/under total and money line accordingly. These bets are great if you only trust the starting pitcher and want to eliminate the bullpen.
MLB Future Bets
MLB WORLD SERIES WINNER
World Series futures are the hardest to win, but they offer better payouts than divisional and conference futures. This is where teams can see significant jumps in odds.
An example: The favorites to win the World Series are the Dodgers (+350), Yankees (+550), Padres (+900), White Sox (+1000), Braves (+1000), and Mets (+1000). Following them are the Houston Astros (+1600), and the Twins (+1800).
MLB PENNANT BETTING
Sportsbooks also offer future bets on American League and National League winners. To win this bet, you must correctly predict a team making the World Series.
With BETMGM, the current favorites to win the American League are the Yankees (+240), White Sox (+400), Twins (+700), and Astros (+750).
The National League favorites consist of the Dodgers (+180), Padres (+450), Mets (+525), Braves (+550), and Cardinals (+1200).
MLB Division Betting
Divisional betting is much easier to win since you are only competing with 4 other teams. For this reason, you will find more favorites and lower payouts.
BETMGM’s odds in the AL East have the Yankees (-200), Blue Jays (+400), Rays (+450), Red Sox (+2000), and Orioles (+6600).
The NL East has the Braves (+130), Mets (+150), Nationals (+650), Phillies (+850), and Marlins (+2500).
MLB Player Props
Player to hit Home Run
Home run player props are a fan favorite in the MLB betting community. The odds will vary based on the player as well as the pitcher and bullpen he faces.
Remember that the probability of a homerun on any given bat is around 1/18.
Player to hit Single/Double/Triple
For this prop, bookmakers list 2 players, 1 from each team, and allow gamblers to bet on which player will accumulate more bases over the game.
Bases only count from singles (1 base), doubles (2 bases), triples (3 bases), and home runs (4 bases).
Combined Hitting Props
Bookies also offer over/under prop bets with combined stats.
For example, you may find a DJ LeMahieu prop bet for 2.5 Hits+Runs+RBIs with a +110 over and -130 under.
Pitcher Strikeouts Over/Under MLB betting lines
And, of course, there are prop bets for strikeouts. These popular bets are in the over/under format, which keeps the odds closer to even.
For instance, Gerrit Cole may have a strikeout total of 6.5 with a -125 over and +105 under.
Always be aware of potential pitcher changes made before the game, as most sportsbooks will void bets that were previously placed.
Live MLB Betting – Where to bet Live on MLB
The main difference between live betting and pre-game betting is when the bet is placed. Due to the odds constantly changing, live betting is a very fast-paced environment.
However, the benefit to this is the increased chance of running into valuable odds lines. Pre-game betting is much more relaxed, and the bettor has plenty of time to weigh over their options.
Why comparing MLB ODDS matters
One of the easiest ways to make the most of your profits is to compare sportsbooks to find the best odds.
For example, if 888Sport was offering the Yankees at -310 and BETMGM had them at -285, you would have saved $25 on a bet to win $100 if you had wagered with BETMGM.
MLB Favorites vs. Underdogs
A couple of commonly used terms in MLB betting are “Favorites” and “Underdogs.” The team that the bookies are projecting to win is the favorite (-), and their opponent is the underdog (+).
For example, the Yankees were -220 favorites in their last game against the Nationals, who were +180 underdogs.
How to recognize a great MLB Bookmaker
The license they hold means safety
The best way to guarantee that you will receive your profits is by registering with licensed sportsbooks.
Although many unlicensed bookmakers have become noteworthy, licensed bookies are by far the safer option.
Bonuses and promotions tailored to MLB Betting
This helps bring in new customers, plus it is great value for serious gamblers! These deals are usually limited time, so it’s wise to stay up to date with new offers.
Margins they provide on MLB odds
While many sportsbooks offer the same odds for a game, there is always a bookie with the edge. This is why comparing odds is critical, to find the best odds!
Variety of betting lines
A quality sportsbook will offer a large variety of MLB betting lines. This is a big way bookies differentiate themselves; money lines and point spreads are common, while future and prop bets are rarer.
Easy to use interface
You’ll notice that many bookies have a different look and feel to their interface than others.
For this reason, we recommend playing around with a few different betting sites before making a deposit.
Variety of Payment Methods accepted
Another way sportsbooks stand out is by offering plenty of convenient payment methods.
A few common methods are Credit/Debit Cards, Cryptocurrency, E-Wallets (PayPal, Skrill, etc.), and Bank Transfers.
Multiple Customer support channels
Customer Service is a very important part of what defines a great bookie. Tech difficulties can come out of nowhere, so it is essential to make sure you have a dependable support team ready to help.
A good sportsbook should be able to address any issue within 10-15 minutes.
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