MLB Betting - Betting on Favorites
The first thing that most sports bettors look at is the favorite in a match-up. Whether it be what the line on the favorite is in the game, or what the odds on the favorite are. In MLB betting, if you bet on a favorite, you are typically taking them on the money line (straight up). The thing about betting a team on the money line, is that the odds will vary based on how heavy of a favorite that team is. Meaning that you would have to bet a higher amount to get a better return on your money. For example, if a team is -250, you would have to bet $250 in order to win $100, where if you bet them on the run line at -1.5, you may only have to bet somewhere around $140 to win $100. It seems that when you are betting on a favorite, you may run into spots where oddsmakers have inflated the odds on big favorites. It's recommended that you put a limit on the highest odds that you are willing to bet on when betting favorites.
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When betting on favorites and deciding your strategy and limits on how high you are willing to go when betting a favorite, there are a few things you should take into account. The first is that when it comes to odds of -150 or better, always stick with betting the money line. The payout is good enough that if there is a game that you like and you can get odds of -150 or lower on your side, that it's worth the bet.
Now this is where it gets interesting. If the odds are between -155 and -200, you should split up your bet. The reason for this, is so that you have enough money on the money line so that if your bet only wins by one run (and doesn't cover the -1.5 line), then your win on the money line will get your money back on the point spread bet. Essentially what you are doing here is covering yourself. From there though, when the odds get to -205 or worse, it's not really worth making the bet. You are risking too much in order to take home a consistent profit. Say that you bet two teams at -225, so you bet $225 on both, that's $450 total. If both hit, you win $200 on top of your original bet. But say that one loses? Out of the $450 that you just bet, you are only taking home $325, and believe me; the favorites of -205 and more won't win every single game in a walk.
Now this is not to say to avoid betting favorites, but just to set a limit on how high you are willing to go with the odds. If you decide that you want to set the limit at -150, and a line is -160, do a little searching around for different odds. Sports betting sites do offer different odds quite often, and you could potentially find your bet at -150 on one of your other sports betting sites.