LowPlays MLB Betting Guide

Football is our trendiest sport, with MLB events kicking off 6+ months every year and hundreds of matches to enjoy. Betting on MLB can be exceptionally profitable, even for cash-strapped players.

In short, the two fundamentals of MLB betting revolve around understanding the types of bets (such as spreads, props, or totals) and finding a sportsbook that caters to your betting needs with budget-friendly bonuses and competitive football odds.

As a lifelong Giants fan, I’ve been religiously following the Major League for over two decades and explored dozens of online and brick-and-mortar sportsbooks. I’m here to guide you through all MLB betting options and help you make educated betting decisions.

Recommended MLB Betting Sites

Choosing a betting site that accepts minimum deposits of $5 to $10, has a selection of solid promos for low rollers, and supports your favorite MLB markets is the first step to starting a successful betting season. Our experts at LowPlays have tested and shortlisted 5 top MLB betting sites for your convenience, so let’s dissect the advantages you’ll be reaping by signing up with them.

BetMGM

BetMGM is one of my favorite sportsbooks when it comes to MLB betting. They have so many great opportunities for low rollers, such as a massive referral program and a full bet refund of up to a $1,500 sign-up bonus; moreover, they accept deposits as low as $10. 

MLB-specific bonuses are frequently available at this site. For example, one of the latest bet insurance tokens I claimed at BetMGM allowed me to place a few risky parlays, and rest assured I’d get my money back (in bonus bets) if my bets lost.

I love their MLB odds, but they rarely have the props I’m looking for. Typically, you can bet on moneylines, spreads, totals, and in-play Major League Baseball matches, as well as on futures.

DraftKings

The ultimate all-rounder, DraftKings Sportsbook offers an excellent balance between fair odds, solid promos, and extensive MLB betting coverage. 

Although their 20% up to $1,000 sign-up bonus might not be too attractive for cash-strapped bettors, DraftKings has plenty of MLB-specific promotions that can give you a good headstart; from boosted moneyline odds to early payouts on select games and beyond. 

What I love about DraftKings the most is that this site is unrivaled when it comes to Major League Baseball props. They typically offer dozens of props for each match, multiple categories of MLB futures, and excellent odds for run line bets.

FanDuel

A reputable, long-running sportsbook where low rollers can start betting with as little as $10, FanDuel rocks a highly intuitive, user-friendly website, a sleek mobile app, and solid promotional deals for both newcomers and regulars. 

What sets FanDuel apart from the others is the Dinger Tuesdays promo – every Tuesday, this sportsbook has a special MLB booster that can help you win more with your wagers. 

While I adore DraftKings’ props, I love FanDuel’s in-game props even more. They frequently offer a range of unique specials in their live betting segment, offering an immersive online gambling experience.

bet365

bet365 has been around since 2000 and is a sportsbook we at LowPlays fully trust. Although their website looks a bit dated compared to DraftKings or FanDuel, their promos for MLB betting are virtually unrivaled. 

The sportsbook’s “bet $1 and get $200 in bonus bets” is debatably the best bonus offer a low roller can claim, so don’t miss this opportunity if you’re looking for a good site to stick with throughout the MLB season.

Fanduel

Hundreds of MLB betting options, early cashout, and a barrage of lofty promotions are just some of the many reasons why we at LowPlays adore Fanduel Sportsbook. 

This site is among the scant few that support in-play same-game parlays. With a good strategy, you can transform a few dollars into a small fortune in minutes this way. Additionally, their unique bet builder allows you to craft custom wagers and string your favorite MLB markets together. 

What I love about this site the most is its comprehensive guides. If you’re a beginner, I warmly recommend checking out their educational resources, even if you don’t use the site for actual gambling.

Betting in the MLB Regular Season

The annual MLB regular season typically kicks off between March and April, running through months of action-packed matches until September-October before the postseason starts in November.

Typically, you’ll need to wait for the season to start to place regular bets, but odds for futures (tournament or division winner) are usually available weeks before the season launches.

This year, the 2024 MLB kicked off on the 20th of March in Seoul, South Korea, and will last until the 29th of September; this means that all MLB betting lines should be readily available at your chosen online sportsbooks.

Types of Bets

The simplest bet you can place on MLB games is the so-called “moneyline” bet; you simply guess which team will win and bank your profits if your prediction is correct. That’s just the tip of the iceberg as numerous other betting types are available in this sport. 

There’s “spread betting” configuring favorites and underdogs; totals or “over/under”; live betting for matches currently being played, futures or “championship winner”, and countless proposition bets that can be placed on small details related to the game, time, scores, or players. 

Below, I’ll explain the basics of all MLB betting types and give you a few examples so that you can jump straight into the action.

Run line (Spread Betting)

In Major League Baseball, we have “runs” instead of “spreads”, hence the appropriate term for this betting category is run line betting. The run line is an additional winning condition expressed in points that teams must cover for the bet to win. 

Like in classic spread betting, oddsmakers assign favorites negative (teams likely to win) and underdogs positive (teams likely to lose) run lines. The most common run line values include:

• +/- 0.5 for the first five innings;
• +/- 1.5 for the full game of nine innings;
• +/- 2.5 for alternative run lines.  

Let me give you an example of how this works. If Team A has been assigned a -1.5 run line, they must win the game by at least 2 or more points. If they score less, you’ll lose the wager even if Team A wins the game. 

On the other hand, if Team B has a +1.5 run line, you can still win the bet if they lose by just one point, if the game ends in a tie (after the 9th inning), or if the favorite wins by just one point. 

There are a few specific rules that many sportsbooks utilize for run lines, such as refunding bets on canceled games or when the pitchers change.

MLB Betting Lines

The simplest form of MLB betting is wagering on the “money line”. In this situation, you only need to predict the winner of the game; how many points, the players who scored them, and when are irrelevant details.

Bets with high implied probability are listed as negative, and vice versa. For instance, the odds of -400 are believed to win 80% of the time while the odds of +200 should win 33% of the time; the middle ground is +/- 100, as both outcomes have a 50% chance to occur. 

Unlike run lines, the numbers in money lines represent the price (“vig”) of the displayed odds. In the American Odds format, the odds price is usually placed against wagers of $100. For example, if Team A has -300 odds to win, you’ll need to wager $300 to win $100.

Totals Betting

Totals in MLB betting are almost identical to their counterparts in other sports categories, with the only difference being that “points” are replaced with “runs”; you’ll be betting on teams scoring runs “over” or “under” the listed margin. 

Favorites need a number of runs greater than the listed value, and the underdogs should keep their totals below the bar. 

For example, let’s say that Team A has -120 odds to score over 8.5 runs. You would win $120 for every $100 wagered if they score at least 9 or more throughout the game. If Team B has -110 odds to score under 7.5 runs, your bet wins as long as they have 7 or fewer runs, even if they don’t score a single run.

Prop Wagers

Proposition wagers or “props” refer to special outcomes in an MLB game. These may vary greatly from one betting site to another, so let me give you a few popular examples:

• Home runs
• Total hits (batters) and hits allowed (pitchers)
• Total bases
• Runs scored
• Strikeouts
• Race to X runs
• Both teams to score
• Winning margin

Many props may come in exact or “over/under” format. For example, when placing a batter-related prop wager, you can bet on the player scoring over or under 0.5/1.5 hits or runs; for pitchers, you can wager on players throwing over or under 3.5/4.5 strikeouts. 

Game-specific props like “winning margin” impose additional conditions on your wagers. Unlike run lines, if you bet on Team A to Win by 1 run, they must win precisely by 1 run. 
A notable exception lies in props like “Team to win by 4+ runs”. This may look like an “over/under” scenario, but if we consider that most games average under 2 runs, the oddsmakers have configured this bet as such because this outcome is unlikely to happen (and to avoid making separate listings for 5+, 6+, 7+, and so on).

Live Betting

Live MLB betting is an exciting way of placing wagers on in-play matches. The odds are updated in real-time as the game unfolds, so it’s up to you to weigh your decisions carefully; the scales may be tipped in your favor in the next inning, or the bet may get locked at unfavorable odds. 

Types of live betting wagers vary greatly between sportsbooks, but the usual moneyline, run line, and over/under should be available in most houses. 

Some online betting sites support live props with particularly juicy odds, allowing you to predict what’s about to happen in the next inning – who will score a run, will a base be stolen, and so on. 

Futures Betting

MLB futures are wagers placed on a future outcome that are often available before the MLB season officially starts. Futures can be divided into multiple sub-categories, including:

• Winning Team: the winning team of this year’s MLB season.
• League Winner: winning teams of the American League and the National League.
• Division Winner: winning teams of American League East, Central, and West & National League East, Central, and West divisions. 
• Playoffs Futures: teams making it into the final round, whether by winning in their divisions or as Wild Cards.
• Straight Forecasts: wagers placed on exact team-vs-team matchups.
• To Win X+ Games: wagers placed on teams recording the listed number of regular season wins (usually starting from 70+).
• Futures Awards: wagers placed on who will become the most valuable player (separate for each League).
• Specials: unique prop-like wagers, such as “team to record a first win” or “winning state”.

Complete History of the MLB

The rich history of American Baseball is as beautiful as it is extensive, so I’ll take you through key events in its timeline in the following sections. 

The Knickerbocker Rules: “New York-style Baseball”

Major League Baseball has existed for over 160+ years. Its roots stem from the old-school “Knickerbocker Rules” baseball game that was prominent in New York through the 1840s. 

The term “Knickerbocker” describes New York natives who share ancestry with Dutch settlers. In the context of American Football, it is often used to describe the Knickerbocker Base Ball Club, which was formed in 1845. 

The club’s rules mostly conflict with modern MLB rules, but some of them, such as that balls must be pitched and not thrown, or how fouls are defined still live up in some form today. 

The Formation of the National Association of Base Ball Players

Around the time The Civil War broke out, it is believed that soldiers helped popularize this sport; eventually, the National Association of Base Ball Players was formed in the early 1860s. At first, hundreds of amateur clubs joined before NABBP opened to professionals in 1869. 

The organization was later split in two, and the National Association of Professional Base Ball Players was formed. Both the sport and the clubs keen on joining the organization rapidly grew, and since the freshly-founded NAPBBP allowed clubs to sign contracts with professional players, MLB’s history begins. 

Cincinnati’s Red Stockings as Pioneers of MLB

Not only were Red Stockings the first to start recruiting professional baseball players but they were also the sole remaining original members of the first Major League Baseball. 

As more clubs decided to go “professional”, conflicts between them and amateur-led clubs became more prominent, resulting in a loop of joining and disbanding associations. 

American League and National League

The two most stable baseball organizations in the early years of MLB were the National Association and the American Association. 

The National Association evolved into the National League, sometimes referred to as the “Senior Circuit”, in 1876 and is the oldest baseball organization in the globe. The American League, or the “Junior Circuit”, sprouted from the American Association in 1901. 

Even though both are known professional organizations, the initial divide was meant to introduce clear-cut boundaries between professional (NL) and amateur (AL) leagues. 

Slow but Steady Climb to Prominence

In the early 1900s through the late 1930s, there were several periods of ebbs and flows in terms of the sport’s popularity, with the first two decades of the new millennium often being referred to as the “Dead Ball Era”. 

With more and more teams debuting at the World Series, American Major League Baseball began taking shape into the respectable organization that we know today. MLB’s growth was impacted by both the Great Depression and the Second World War, but it regained momentum in the late ‘50s. 

Decades of Expansion 

By the early ‘60s, more and more states debuted at the annual Major League Baseball season, with successful franchises like the Giants, the Dodgers, the Cardinals, the Senators, the Mets, and the Colonels spearheading baseball’s popularity. 

With more clubs joining the picture, MLB began to set a pattern for almost regular rule changes, drifting even further from the Knickerbocker Rules. In the following decades leading up to the 2000s, America built numerous stadiums and MLB’s most stable form was established in 1998 with 30 regular clubs. 

MLB Teams

For over two decades, Major League Baseball has been home to 30 national teams, which are split into two categories with three divisions each. 

Some of these teams have been around for over a century, such as the Chicago White Sox and Detroit Tigers while several clubs sprang relatively recently, such as Miami Marlins and Colorado Rockies. 

American League

The American League has 15 members from Maryland, Massachusetts, New York, Florida, Ontario, Illinois, Ohio, Michigan, Missouri, Minnesota, Texas, California, and Washington. 

All AL teams were formed in 1901 or later, with the oldest being the Chicago White Sox,  Oakland Athletics, Minnesota Twins, Detroit Tigers, Cleveland Guardians, Boston Red Sox, and Baltimore Orioles. 

American League East

The AL East division consists of Baltimore Orioles, Boston Red Sox, New York Yankees, Tampa Bay Rays, and Toronto Blue Jays. 

The Orioles, Red Sox, and Yankees have been a part of the American League since 1901 and have participated in dozens of Major League Baseball seasons; Tampa Bay Rays were founded in 1998 and are among the youngest MLB clubs while Toronto Blue Jays, formed in 1977, is the only Canadian representative in MLB. 

American League Central

The central division of the American League consists of four well-established franchises, the Chicago White Sox, Cleveland Guardians, Detroit Tigers, and Minnesota Twins, and one slightly newer club, the Kansas City Royals. 

The Guardians are the most successful AL Central team with 30 wins. The Royals were formed in 1969 and have proved that they’re worthy of being in the big league with 29 wins. 

American League West

The West division of the American League is the only one with two pairs of franchises from the same state – Rangers and Astros on the Texas side; and Angels and Athletics on the California side. Between these four are the Seattle Mariners, a relatively young club formed in 1977. 

National League

The National League has existed since 1876 and is the most significant organization in MLB’s history. It kept improving baseball with regular events and commitment to fair play, but more importantly, it formed a sturdy bridge that has been connecting Americans for over a century. 

Currently, it houses 15 teams (just like the American League), which include the Atlanta Braves, Miami Marlins, New York Mets, Philadelphia Phillies, Washington Nationals, Chicago Cubs, Cincinnati reds, Milwaukee Brewers, Pittsburgh Pirates, St. Louis Cardinals, Arizona Diamondbacks, Colorado Rockies, Los Angeles Dodgers, San Diego Padres, and San Francisco Giants. 

National League East

The NL East division comprises the Atlanta Braves, Miami Marlins, New York Mets, Philadelphia Phillies, and Washington Nationals. 

The oldest club in this division is the Braves; they are the only team that existed long enough to be a part of the National Association of Professional Base Ball Players in 1871, standing in stark contrast to the Miami Marlins which were formed in 1993. 

National League Central

The NA Central is formed of old-school franchises. Chicago Cubs, Cincinnati Reds, Pittsburgh Pirates, and St. Louis Cardinals have all existed since the 1880s. The only “new” team in the National League Central is the Milwaukee Brewers, which was founded in 1969. 

National League West

NL West Division counts three teams from California, including the Dodgers, the Padres, and the Giants, as well as two relatively young ones from Colorado and Arizona, including the Arizona Diamondbacks (1998) and Colorado Rockies (1993). 

MLB Betting News

MLB Betting FAQs

What betting types are available for MLB baseball?

The most common betting types for Major League Baseball include moneyline, run line, totals, proposition bets, and futures. 

When do MLB odds become available?

Each sportsbook has a different schedule for posting their odds. Typically, moneyline and totals are updated the day before the match starts; team props are updated several hours before the game, and futures are typically available weeks before the season officially begins. 

Where should I bet on MLB?

Numerous reputable online sportsbooks are available to US players. The five most trustworthy sites include BetMGM, DraftKings, FanDuel, bet365, and Fanatics. 

Is there spread betting in Major League Baseball?

Spread betting in Major League Baseball is called “run line betting” and operates on the same principles; favorites and underdogs are assigned negative and positive run lines, respectively, which they must cover for the bet to win. 

A pitcher was changed for my MLB bet, should I change my wager?

All MLB bets feature pre-determined pitcher listings. If any changes occur, most sportsbooks will immediately cancel the bet and notify bettors that a new wager should be placed.