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Odds & Lines

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MLB Odds & Lines for Betting in Canada & Ontario

 

MLB betting sites between Ontario & the rest of Canada

Canada now has two distinct market segments when it comes to people that wish to bet on MLB online. In 2021, Canada moved to allow single-event sports betting. Ontario soon followed to open a regulated market for private brands to partner with the newly formed iGaming Ontario.

For people outside Ontario in the rest of Canada, nothing has really changed. The "grey market" of offshore bookies is still wide open to go along with the legal options run by local lottery corporations. 

Above our MLB odds, if you are in Ontario, we display our recommended legal Ontario sportsbooks for your examination.  If you are elsewhere, we show you the top betting brands for the rest of Canada so you can avoid the endless array of scam bookmakers. See our Canadian sportsbook reviews for more information on these brands.

 

About our MLB Odds: games above, futures available

Above, our odds data feed is set to display the highest odds for the most popular betting markets for each MLB game. This is why you may see slightly differing total lines as associated to the given odds. Since the highest odds have been isolated for display and likely come from different sportsbooks, the given total lines may not match each other for a given game. 

Also, on occasion, since we are showing the best odds from across several Canadian "grey market" and legal Ontario providers, you may notice very high odds on both potential run line bets.  Here's why: run lines (explained below) tend to be set at -1.5 runs and +1.5 runs.  From time to time, for games that are generally seen as being a near pick'em, not all bookmakers will have defined their run line favourites and underdogs in a uniform manner.  In other words, the handicap and associated odds can be reversed, between one sportsbook and another, potentially leaving you with a great betting opportunity.

In the end, if you just want to place any kind of MLB wager, you only require a single betting account. However, if you want to get the best price on your baseball bets in order to maximize your potential returns, and these kinds of opportunities of price disparity really interest you, you might wish to have accounts with several operators, and spend a little time on MLB odds comparison.  We also have World Series odds available for you, if interested in the main MLB futures betting market.

 

Betting Markets in MLB: Explained

Major League Baseball offers a variety of betting markets, allowing fans and bettors to engage in exciting wagering opportunities. The three primary betting markets in MLB are Moneyline, Run Line, and Total (over/under). Let's explore each of these markets and how they apply within MLB games.  We explore these markets using Decimal odds format on this page.  If you prefer American odds format, see the odds provider shown above. Their site has odds in all three main formats.

 

Moneyline Betting in MLB:

Moneyline betting in MLB involves predicting the outright winner of a game. The odds for Moneyline bets are often displayed in decimal format. Here's an example:

  • Toronto Blue Jays: 1.80
  • New York Yankees: 2.10

If you place a bet of 100 units on the Toronto Blue Jays at odds of 1.80 and they win the game, your total payout would amount to 180 units, including your initial stake. Similarly, a 100-unit bet on the New York Yankees at odds of 2.10 would result in a total payout of 210 units if they win the game.

 

Run Line Betting in MLB Baseball:

Run Line betting in MLB is similar to a point spread bet in other sports, but with a fixed run margin of 1.5 runs. The favored team needs to win by 2 or more runs, while the underdog can either win the game or lose by 1 run. Here's an example:

  • Toronto Blue Jays -1.5: 2.20
  • New York Yankees +1.5: 1.70

If you bet on the Toronto Blue Jays at -1.5 runs, they would need to win the game by 2 or more runs for your bet to be successful. A 100-unit bet on the Blue Jays at odds of 2.20 would result in a total payout of 220 units if they cover the run line. Conversely, if you bet on the New York Yankees at +1.5 runs, they can either win the game outright or lose by 1 run, and your bet would be successful with a payout of 170 units for a 100-unit wager.

 

Total Betting (Over/Under) in MLB Baseball:

Total betting in MLB involves wagering on the combined number of runs scored by both teams in a game. The sportsbook sets a benchmark number, and you bet on whether the actual total will be over or under that number. Here's an example:

  • Over 9.5 runs: 1.85
  • Under 9.5 runs: 1.85

If you believe the total number of runs scored will be higher than 9.5, you would bet on the Over. If the actual total runs scored is 10 or more, your bet would be successful with a payout of 185 units for a 100-unit wager. Conversely, if you anticipate a lower-scoring game with 9 runs or fewer, you would bet on the Under.

 

MLB Odds Margin explained

Let's calculate the odds margin using the decimal odds for a Major League Baseball (MLB) game between the New York Yankees and the Boston Red Sox:

New York Yankees: 1.85
Boston Red Sox: 2.00

To calculate the odds margin, we need to convert the decimal odds into implied probabilities. Here's how we can do it:

Convert the New York Yankees' decimal odds to implied probability:
Implied probability for the New York Yankees = 1 / 1.85 = 0.5405 (approximately)

Convert the Boston Red Sox's decimal odds to implied probability:
Implied probability for the Boston Red Sox = 1 / 2.00 = 0.5000

Now, let's calculate the odds margin by subtracting the sum of the implied probabilities from 1:

Odds margin = 1 - (0.5405 + 0.5000) = -0.0405 (approximately)

In this case, the odds margin is approximately -0.0405, which represents the sportsbook's hold or profit. This means that, on average, the sportsbook expects to earn around 4% of the total wagers placed on this MLB game.

Understanding the odds margin is important, but it's equally vital for bettors to engage in odds comparison. By comparing the odds offered by different sportsbooks, bettors can identify discrepancies and find more favorable odds. This allows Canadian bettors to potentially maximize their returns and mitigate the impact of the odds margin. Platforms and tools that provide comprehensive odds comparison services can be invaluable in this regard, as they gather and display odds from various bookmakers side by side.

By utilizing odds comparison, bettors in Canada can make informed decisions and select the sportsbook offering the best odds for their desired MLB wagers. This approach enables bettors to capitalize on favorable opportunities and potentially enhance their profitability in the long run.

 

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Gambling can be addictive, please play responsibly. Visit ConnexOntario.ca for help. Eligible iGames conducted & managed by iGO are only available to those physically present in Ontario.