Historical Mlb Odds
Introduction
The page will endeavor to give the recreational baseball bettor advice on the various bets. I have no handicapping skill in baseball whatsoever, so the best I can do is steer you towards the best type of bets. There are three primary ways to bet on baseball, as follows.
Historical Mlb Odds
- Money line: Bet on which team will win.
- Total: Bet on whether the total number of runs will fall above or below a stated number, usually between 7 and 12.
- Run line: Similar to a bet against the spread in football or basketball. However, in baseball the better team is always favored by 1.5. If the money line indicates neither team is favored, then either team could be the favored team.
MLB BETTING MODEL BETS: Profit: +4,109 WON 338 LOST 316 PUSH 19 AVG ODDS: 2.04, Yield: 3.17% Total Picks: 673 Performance with different odds In the previous chart, I showed you how important is to use analytics and that intuition bets were disastrous. MLB matchup stats for the daily baseball games which include head to head, odds comparison, starting pitcher stats, bullpen numbers and more to help you handicap the game.
The data packs store the odds and timestamps of the most popular odds lines. Data available for the following lines: 1X2, Double Chance, Both team to Score, Total Goals, Asian Handicap, Correct Score. On this day, March 8, in Sports Odds History. March 7 March 8 March 9 - 1971 (Boxing): 'The Fight of the Century' held at Madison Square Garden in New York City - Joe Frazier hands Muhammad Ali his first professional loss after a 15-round unanimous decision. Nats’ postseason upset run was the greatest in MLB history, with moments we’ll never forget. But my guesstimate of the Nats’ chances to pull out five elimination games against the odds.
Source of Data
The data this analysis is based on is from the Major League Baseball games played over the 2016 and 2017 seasons. I had to remove two games because of incomplete data. The total number of games this page is based on is 4,929.
Fun Facts
The following table shows the average number of runs, hits, errors.
MLB Averages 2016-2017
| Item | Away | Home | Total1 |
|---|---|---|---|
| Runs | 4.47 | 4.64 | 9.10 |
| Hits | 8.71 | 8.64 | 17.34 |
| Errors | 0.58 | 0.58 | 1.16 |
| Total | 13.76 | 13.87 | 27.61 |
Notes
1. Totals may not appear to agree with sum of the parts, due to rounding.
Money Line Bets
When it comes to betting money lines in baseball, or any sports bet for that matter, what is number of basis points, or 'cents' between the lines of the two teams. For example, a 10-cent set of lines would be +120/-130 or +105/+105. Following is the theoretical house edge by number of cents in the lines, assuming the probability of each team winning is close to 50%.
- 10 cents: 2.38%
- 15 cents: 3.49%
- 20 cents: 4.55%
As of this writing (Sept. 20, 2018) here are which sports book groups offer which sets of money line bets in baseball.
- 10-cent lines: Westgate, William Hill, South Point, Stations, CG Technology, Golden Nugget, Jerry's Nugget, Boyd
- 15-cent lines: Stratosphere, Caesars, Wynn
- 20-cent lines: MGM/Mirage, Treasure Island
Home or Road Teams
I show money line bets on road teams perform slightly better than home teams. To be specific, I show the house edge to be 0.3% less on road teams than home teams. This is well within the margin of error, so I wouldn't put much stock in this difference.
Favorite or Underdog
Not surprisingly, I show money line bets on underdogs perform better than favorites. This seems to be true in every sport. To be specific, I show the house edge to be 0.70% less on underdogs compared to favorites.
Total Bets
The following table shows the number of times the total runs was over, under, and exactly on the over/under line. The return column shows the house edge, assuming a 20-cent line. Note that the house edge is 2.25% less on Under bets.
Over/Under Bets in MLB
| Outcome | Number | Probability | House Edge |
|---|---|---|---|
| Over | 2315 | 46.97% | 5.45% |
| Under | 2373 | 48.14% | 3.20% |
| Push | 241 | 4.89% | |
| Total | 4929 | 100.00% |
Run Line Bets
Based on sets of 20-cent lines, I show the expected return laying 1.5 runs on the favorite is 96.90% and buying them on the underdog is 96.34%. This difference of 0.56%, favoring laying the 1.5 runs, is within the margin of error.
Internal Links
- Obscure Topics in Betting Major League Baseball — These are some tables I didn't bother to update when I updated this page with new data. Use the tables in this page, based on data from 2000 to 2009, with a grain of salt.
- Betting the NFL In-depth look at betting professional football.
- Betting the NBA In-depth look at betting professional basketball.
- Appendix 1 Comparative study on who has the best lines in Vegas.
- Appendix 2 Various topics in sports betting.
- Appendix 3 List of Las Vegas sports book families.
- Appendix 4 Fair prices to buy and sell points in the NFL.
- Appendix 5 Explores sports futures in greater depth.
- Appendix 6 Lost and expired tickets.
- Appendix 7 Companion to appendix 1, showing NFL money line pairs from several Internet sportbooks.
- Appendix 8 Comparitive study on who has the best lines offshore.
- Appendix 9 Companion to appendix 8, showing NFL money line pairs from offshore sportbooks.
- NFL Teasers.
- Total number of kickoffs in Super Bowl 43. Were there 9 or 10?
- Vegas sports book comparison at WizardOfVegas.com. Who offers what odds on parlays and teasers, as well as rebate percentages.
Written by: Michael Shackleford
Mlb Historical Odds Excel
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