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1. Moneyline bet: This is a simple bet where you choose which team will win the game. The odds will be listed next to each team, indicating the potential payout for a winning bet. For example, if the New York Yankees have odds of -150 and the Boston Red Sox have odds of +120, a $100 bet on the Yankees would result in a $66.67 profit if they win, while a $100 bet on the Red Sox would result in a $120 profit if they win.
2. Runline bet: In a runline bet, the favorite team must win by a certain number of runs to succeed. For example, if the Los Angeles Dodgers are favored by -1.5 runs against the San Francisco Giants, they must win by at least 2 runs for a bet on them to win.
3. Over/Under bet: In an over/under bet, you are betting on whether the total number of runs scored in the game will be over or under a certain number set by the sportsbook. For example, if the over/under for a game is set at 8 runs, you can bet on whether the total runs scored will be over or under 8.
The formula for calculating potential payout:
Potential payout = (Amount wagered x (Odds/100)) + Amount wagered
For example, if you bet $50 on the New York Yankees with odds of -150:
Potential payout = ($50 x (-150/100)) + $50
Potential payout = ($50 x -1.5) + $50
Potential payout = -$75 + $50
Potential payout = $25
If the New York Yankees win, you will receive a $25 profit on top of your original $50 bet.
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