Are you a fan of baseball and sports betting, but are somewhat inexperienced when it comes to the world of online bookmakers? If so, then Wincomparator is here for you - on this page we will discuss an essential elements of betting on one of the most popular sports in the US - baseball odds offered by online bookmakers.
So, what exactly are odds? In simple terms, odds are numerical values found on sports betting sites, which relate directly to individual bets. Whenever you want to place a bet on baseball, it is on these odds that you will place your wager. Generally valued somewhere between 1/20 and 10/1, odds are calculated according the the probability of a bet to be successful. Say for example, that you want to bet on the victory of the Yankees against the Dodgers in the MLB. You will then place your money on the odds proposed for the bet ‘Yankees to Win’, which in this example should be around 4/5.
Additionally, another important characteristic of baseball odds is that their values are always determined by the bookmakers themselves, based on the probability of a bet to be validated. To put it more clearly - the higher the probability of a bet being a winner, the lower the odds offered at the bookmakers will be. The opposite is also true, as bets that are unlikely to occur will be offered at much higher odds. We can illustrate this relationship with the example of an MLB match between the Houston Astros, one of the most talented teams currently playing in the league, and the Baltimore Orioles, who have declined since the 1980s.
In an unbalanced match such as this, which greatly favours the Astros, the odds offered on the bet ‘Houston to Win’ will be relatively low (e.g. 2/5), while those proposed for the bet ‘Baltimore to Win’ will be much higher (e.g. 5/1). This difference in values can once again be explained by the different probabilities associated with each scenario - and will likely impact your decision on whether to place the bet or not. It is, in fact, these odds that can be used to determine the potential winnings of a bet, and thus the interest to you of placing the wager. Let’s consider this relationship, using the formula Odds x Stake = Gains:
We can thus directly see that a much riskier bet on a Baltimore victory will result in a much higher payout in the case of a surprise result (£40 net), while a much more likely bet on the success of Houston will bring more moderate gains (£4 net). At this point, it is up to you to determine which strategy to adopt for your baseball betting - to take less risks and collect more modest gains, thus building your kitty over time, or to take big risks for considerable short term gains. As for us, we would advise you to find a good balance, and place your wagers on odds that offer a favourable earnings/probability ratio. Odds of 3/2 for a Houston success will be interesting to try, for example, while those valued at 3/1 on a Baltimore success will not be - it’s up to you.
As we have just explained, baseball odds found at online betting sites will vary depending on the probability of a bet to be a winner - based on a number of different parameters. What you should know for now is that these odds values can vary from one bookmaker to another (Bet365, 888sport, William Hill, etc…), for the same bet on the same game. Since the value of odds will determine the potential winnings of your bet, you can understand the importance of betting on the highest odds on offer on the market. We can show this by again taking the example of a Houston v Baltimore MLB match:
Straight away we can see that for the same bet on the same match, you can earn an additional £30 by placing a bet with Bet365 rather than with William Hill. As such, you can no doubt understand the importance of comparing bookmakers odds every time you bet, to maximise your potential gains.Over an entire baseball season, a difference of hundreds of pounds could be seen - so get into the habit of comparing the odds before placing your baseball bets.
These characteristics of odds will apply to any baseball bet that you place at an online bookmakers - whether it is Baseball Playoff odds or Baseball World Series odds.To finish off this page dedicated to baseball odds, we can offer you two final pieces of advice. One is to always compare the odds offered by the top bookmakers on the market before betting, to ensure that you can always enjoy the best possible potential gains. The other is to register at each of these sports betting sites - as what is the point in finding the best odds for the bet of your choice if you’re not a registered customer of the bookmaker that offers them. So, a final word then, is to multiply your subscriptions.