Well it’s early April and for sports fans that can only mean one thing: The boys of summer are back and America’s favorite pastime is just getting underway. This is the time of year that the marathon known as the Major League Baseball season commences until a World Series winner is crowned at the end of October or early November.
Not only is it exciting for the fans, as they cheer on their favorite teams, but for sports betting professionals, the start of the baseball season offers another profitable sports betting opportunity. Although baseball doesn’t get as much action as let’s say the more popular sports like football or basketball, it can be the most profitable and one that should not be overlooked if you want to make money from sports wagering.
Although I mention that betting on baseball can be profitable, you still need to proceed with caution. There are still a ton of people that lose a lot of money season after season with their baseball bets, but it’s largely due to the fact that they don’t know what they are doing.
So Why Are They Losing?
There are probably several reasons, but in my opinion it’s because they are placing the wrong bets. When it comes to betting on traditional sports such as football or basketball, you are betting against the spread. So it really doesn’t matter whether you bet on the favorite or the underdog, the price you are paying is typically -110 and your team just needs to cover the point spread. With spread betting, you need to win more than 52.7% and you will show profit.
When betting on baseball, there is no point spread, so instead the use a money line. Although it is easier to pick the winners, sometimes the heave favorites can cost you a small fortune when they lose, and they will lose from time to time. Let’s have a closer look at how these numbers work out.
If you were to only bet on heavy favorites this season at average odds of -200, then your breakeven number would be 66.7%. Sure you would probably end up winning more games than you lost, but even if you won 2/3rd’s of your games you will show a loss for the season.
On the other side of the coin, if you were to find valuable under dogs at average odds of +200 you would only need to win a little bit more than 1/3rd of your games to still show some profit as season’s end. Just remember good teams lose and bad teams win. Good Luck!