The MLB Betting Glossary: Essential Terms Explained

Date: 03.11.2025

Betting Guide

Betting on Major League Baseball (MLB) requires a specific vocabulary that covers everything from the primary wagers to advanced wagering rules based on pitching changes and game completion.

This comprehensive glossary explains the fundamental and advanced terms every American baseball bettor needs to know to navigate the odds, understand market jargon, and place wagers with confidence.

Fundamental Bet Types and Odds

These terms describe the most common wagers and the pricing structure used by sportsbooks.

Term	Definition and Explanation	MLB Nuance
Moneyline	A simple wager on which team will win the game outright. No point spread is involved.	This is the primary bet in baseball, where final score margins are often small.
Favorite	The team expected to win, indicated by a negative American odds sign (e.g., –250). You risk more than you stand to win.	Betting a favorite on the Moneyline yields a smaller payout than the stake (e.g., risk $\$250$ to win $\$100$ ).
Underdog	The team expected to lose, indicated by a positive American odds sign (e.g., +150). You win more than you risk.	Betting an underdog offers better payout for correctly picking an upset (e.g., risk $\$100$ to win $\$150$ ).
Run Line (Spread)	Baseball’s version of the point spread, nearly always set at $\pm 1.5$ runs. The favorite ( $\mathbf{-1.5}$ ) must win by 2+ runs to “cover.” The underdog ( $\mathbf{+1.5}$ ) wins if they win outright or lose by exactly 1 run.	Offers a better payout on the favorite than the Moneyline, but is riskier since many MLB games end with a one-run margin.
Totals (Over/Under)	A bet on the combined number of runs scored by both teams. The sportsbook sets a line (e.g., 8.5 runs), and you bet whether the actual combined score will be Over or Underthat line.	Totals are highly influenced by starting pitchers, ballpark factors, and weather conditions.
Juice (Vigorish/Vig)	The commission the sportsbook charges for accepting a bet. It is built into the odds.	A standard line of $-110$ on both sides of a run line or total means you must risk $\$110$ to win $\$100$ . The extra $\$10$ is the commission.
Even Money (Evens)	Odds where the payout equals the amount wagered, represented by $\pm 100$ or $1/1$ odds.	Rare in MLB moneylines due to pitcher matchups, but common in some prop bets.

Specific Wager Types

These markets focus on outcomes other than the final score of a single game.

Term	Definition and Explanation	MLB Nuance
Prop Bet (Proposition Bet)	A wager on a specific statistic or event within a game, unrelated to the final score. Can be a player prop (e.g., Max Scherzer Over/Under 7.5 Strikeouts) or a team/game prop (e.g., Will the first inning be scoreless?).	MLB has extensive prop markets due to the detailed statistics of the sport. Requires granular research.
Futures Bet	A long-term wager on an event that will be decided later in the season (often months away).	Common examples are betting on the World Series Champion, League Pennant winner, or a team’s Season Win Total.
Parlay	A single wager that links together two or more individual bets (called legs). All legs must win for the parlay to pay out.	Parlays offer high payouts but are high-risk. Same-Game Parlays (SGPs) allow you to combine multiple outcomes from a single game.
Grand Salami	A specialized Total (Over/Under) bet on the combined number of runs scored across all MLB games scheduled on a particular day.	A popular full-slate wager where you are betting on the overall offensive environment of the league for that day.
Alternate Run Line	A line where the standard $\pm 1.5$ run spread is adjusted (e.g., to $\pm 2.5$ or $\pm 0.5$ ) in exchange for different odds.	Useful for bettors looking for a safer bet on a favorite (e.g., $-0.5$ ) or seeking a much higher payout on a strong favorite (e.g., $-2.5$ ).
First Five Innings (F5)	A moneyline or total bet that only counts innings 1-5. The score reverts to $0-0$ after the 5th.	A popular way to isolate the starting pitcher matchup and remove the unpredictable effect of the bullpens.
Teaser	A parlay where you adjust (tease) the run lines or totals in your favor (e.g., moving a run line from $-1.5$ to $-0.5$ ) in exchange for a lower overall payout.	Less common in baseball than in football/basketball, but available on some books to reduce risk on a parlay.

Rules, Outcomes, and Market Activity

These terms cover the official rules for settling a bet and analyzing the betting market.

Term	Definition and Explanation	MLB Nuance
Listed Pitcher	A bet placed with the condition that the scheduled starting pitcher for one or both teams must throw the first pitch for the wager to be valid.	This is the safest option for bettors. If the pitcher is scratched, the bet is voided (No Action).
Action	A bet placed with the condition that the wager stands regardless of any starting pitcher change.	If the ace you bet on is scratched, your bet remains valid, often at worse value. Sharp bettors usually prefer Listed Pitcher to control risk.
No Action (Void Bet)	A bet that is canceled and the original stake is refunded to the bettor.	Occurs when a game is rained out before it becomes an official game (typically 5 innings for Moneyline, often 9 innings for Run Line/Totals).
Push	Occurs when the result of a wager is exactly even with the posted line, resulting in the return of the stake (no win, no loss).	Pushes are rare in MLB moneylines and standard $\pm 1.5$ run lines. They can occur on whole-number totals (e.g., total set at $8$ , final score is $8$ ).
Live Betting	Wagers placed after the game has started, with constantly updating odds based on the current score and situation.	Used to hedge a pre-game bet or to take advantage of favorable odds changes during the game.
Hedge	Placing a second bet opposite your original wager to reduce risk or guarantee a profit, regardless of the final outcome.	Common when a long-shot parlay or futures bet has reached a late stage and the bettor wants to secure some winnings.
Handle	The total amount of money wagered by bettors on a specific game or event.	A high handle on a game indicates significant betting interest, often driven by the popularity of the teams or sharp action.

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