MLB odds are based on money lines which mean underdogs return more money when they win. Let’s look at underdogs in terms of baseball betting odds.
Baseball betting underdogs are not bet as often as they should be. That is simply for the fact that people like betting the perceived better team more often than not. The majority of the gambling public that bet baseball betting odds prefers the home favorites, as that is what they consider to be the better team, even if that team doesn't actually deserve to be favored. When the public sees what it perceives to be a mismatch with a power home team over a weaker visitor, the money flows in on the MLB odds favorite, giving the dog added-value.
Oftentimes, contrary to what you may see from the media, the line is not set based on how the MLB odds makers think that one team is better than the other but it is rather set based on what the public thinks. That means marquee teams in baseball betting odds are almost always going to be overpriced. What this ultimately means is that there are many times when the wrong team is favored and the better team is actually the underdog in baseball betting odds. And when the better team is and underdog in baseball betting odds you are getting added value by taking them.
Let’s look at an example in baseball betting odds to illustrate this point. If the New York Yankees were home against the Chicago White Sox it is a virtual certainty that they would be favored in baseball betting odds. That doesn’t mean they are the better team though. In some seasons the White Sox were better, yet they were still made the underdog in baseball betting odds when playing New York. It is all about public perception and that is why the Yankees and other teams like the Red Sox and Mets are oftentimes overvalued in MLB odds. Keep underdogs in mind as you bet baseball betting odds this season and look to make more money.