How American Odds, also known as Moneyline, work?

Map of the USA territory with the flag in color background

First of all, know that the MoneyLine on baseball league betting is the same as that of all other moneylines in American sports, as it is the method that legal betting sites in the USA use to set the financial terms of their offered bets (that is, the odds). That said, it is important to note that moneylines are unique to American sports betting: traditional betting in the UK is displayed with what is called fractional odds, and the rest of Europe (and most of the world) uses decimal odds.

For example, here are the options offered by the operator 1xbet, all 3 odds are offered.

You are not required to use this type of odds writing, but since you will certainly be looking for information on American sites, it is better that you understand how it works.
Finally, international operators allow you to modify the appearance of the odds live. You will therefore be able to practice without difficulty.

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The main utility of writing in Moneyline format is to allow the bettor to immediately visualize the buy-in / payout ratio of any given bet.

The odds in MLB are expressed in such a way that you know exactly how much you can win on each prediction. Because the American view of sports betting in general is to make money, understanding American odds is your primary interest.

The American Moneyline odds system is based on a bet of $100 (but it's the same with $100).

A negative moneyline is generally applied to a favorite and indicates the amount you need to bet to win $100.
On the other hand, a positive moneyline is generally applied to an underdog, and it indicates the amount of money you can win with a bet of $100/$.

Again, each betting line will have an indication in parentheses. You can see this as the "price tag" of the bet. (Note: The Moneyline does not indicate a minimum amount you must bet to place a wager. Most reputable bookmakers will allow bets starting from $0.25).

Examples by type of bet

To understand how this system works, a few examples of bets should help you visualize the practicality of the setup. Once you master it, it becomes extremely quick and easy to understand the stakes of a given bet. Unlike fractional and decimal odds, there is no calculation to determine exactly how much you risk or what you can win. Consider the following:

On straight bets

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Atlanta Braves (-140) vs New York Mets (+135)

This bet is called "straight" in that you simply choose a winner "directly". Many common bets are of this type, and they are entirely defined by their odds.

Here, the Braves are favored at -140 to beat the Mets, who are underdogs at +135. This means that a bet of $140 on the Braves, if won, will yield a profit of $100 to the bettor, while a bet of $100 on the Mets, if won, will yield a profit of $135.
Straight bets are bets where the Moneyline not only defines the terms of the bet but also shows the bettor which side of the bet is perceived as more likely to win.
Once you get used to it, this system is more convenient than the decimal odds we know, as everything is brought back to the same base, $100 bet.

On handicap bets (Run Line)

This type of bet handicaps the competition, giving underdogs a sort of "advantage" on the scoreboard while taking runs away from the favorites. It will look like this:

Philadelphia Phillies +1.5 (-110) vs Pittsburgh Pirates -1.5 (-110)

Regarding handicap bets, called Run Line in the Americas, the handicap (almost always 1.5 runs for a 9-inning game) is what shows you which team is the favorite and which is the underdog. However, there is always a MoneyLine indicated (in parentheses), as it indicates the terms of the bet/win.

The Moneyline of a handicap bet is often unchanged. Usually, both teams will have a line of -110, which requires the bettor to bet $110 to win $100.
Remember that the handicap in Baseball is indicated in number of runs. In this example, we add 1.5 runs to the Philadelphia team and take away the same from their opponent when validating the bet.

On Over/Under bets

This works pretty much the same way as for straight bets, and is usually set at the same level for both teams:

Oakland Athletics vs Los Angeles Angels O/U 8.5 (-110)

Here, whether you bet on the Over or the Under, the MoneyLine is the same: -110. Thus, a bet of $110 yields a profit of $100. Like straight bets, moneylines are generally -110 for both teams, but bookmakers will adjust these figures individually to better balance the money masses on certain bets.

These last two examples show how negative moneylines can (and usually are) attached to both favorites and underdogs. Most yes/no type bets - as commonly found in proposition or special bets also follow this model.

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And finally on long-term bets

For almost the entire year, for example, you can bet on which team will win the next World Series. Here is what it might look like (note that these are hypothetical and do not reflect the actual odds for the World Series this season):

- Los Angeles Dodgers +350
- New York Yankees +375
- Boston Red Sox +500
- St. Louis Cardinals +750

As you can see, the Dodgers are the favorites to win the World Series. However, in future bets (and various other long-term bets, such as season bets), the favorite will almost always have a positive moneyline, as will the challengers. Here, a bet of $100 on New York can yield you $375 if it wins.

Once you understand all of the above, you should have a good idea of how the MoneyLine works;

Both to establish the odds,
And to define which team, player, or outcome is favored in a given bet.

This odds system is the easiest to use once you understand how it works, and if you have understood all the previous examples, you will have no problem placing smarter bets on your favorite MLB betting sites.