With baseball odds, unlike college football or college basketball, favorites can and do lose to heavy underdogs. This is what makes handicapping MLB odds interesting. The Yankees may be a -200 favorite but that doesn’t mean they will always win versus the MLB odds.
MLB odds have a lot of big prices on the board. There are a lot of gamblers that will continually bet the big name teams and the big name pitchers at big prices. The problem with doing this on a regular basis is that consistently laying -150 or more is a real problem unless you can win 70% of your games versus the MLB odds. That is not easy to do in any sport and that includes baseball. The problem with routinely betting big favorites is that realistically you need to hit a high percentage of your games to win money versus the MLB odds.
Other bettors try and look for underdogs in baseball odds. The problem with continually playing underdogs is that it gets difficult to find consistent value. So, what do you do to make money? Most successful gamblers in baseball will strike a compromise and play both favorites and dogs versus the MLB odds. They will often take the best teams in more favorable situations such as small favorites against other top teams, or as underdogs on the road. You have to pick your spots with MLB odds. Other gamblers will wait for mediocre teams to matchup and then take the better pitcher at a reasonable price. That is one way to avoid laying too much money in MLB odds.
Another way to bet baseball odds is to play totals. This avoids the problem of laying money on every single bet. The most you are usually laying with totals in MLB odds is -120. That makes winning much easier since you don’t have to hit such a high percentage. You can also find advantages when betting totals in MLB odds. Take a look at factors like ballparks, umpires, specific tendencies, etc. when you look at totals. You can look at all these factors when betting sides as well, but it is much easier to win money when you are laying -120 or less instead of -150 or more on every game. That is what baseball odds are all about. You must find value if you want to succeed over the long baseball season.