With MLB Opening Day just three days away, there will be those baseball fans that will be gambling on MLB games on a day-to-day basis. Most casual fans will bet on games using U.S. Dollars. There are some fans that are starting to use Bitcoin to bet on games, but they need to find the right casinos and sportsbooks that will take them.
The MLB lines are not out yet for Opening Day with Spring Training coming to a close. How can you bet on the MLB money line and games in general on a day-to-day basis with the understanding of bitcoin instead?
Understanding the Money Lines
Major league baseball will play 162 games during the regular season and there will be tons of games to bet on with the money line. Let’s say the Baltimore Orioles are playing the Toronto Blue Jays that day. Baltimore has a +500 money line and Toronto has a -390 money line.
In United States dollar terms, placing a $100 bet on the Baltimore Orioles to win the game would be a much greater payout because of the + odds compared to the Toronto Blue Jays with a – odds, because it wouldn’t be a great amount of money, won with the same dollar value.
Now with bitcoin, if someone placed a bet on Baltimore with 5 BTC, the American value on that bet is worth $229,702.35. That is a lot of money in American dollars to potentially bet on a money line like that. Betting with Bitcoin feels like a lot risker with losing a lot more than it is with the normal American dollar.
However, the reward with Bitcoin if Toronto were to lose in a game like that would actually be greater than the reward because the payout would be much higher in terms of American Dollars value.
Betting on Bitcoin for minus odds like that would feel like a bigger payout than placing a normal $100 bet on a – odds compared to the + odds.
The cryptocurrency of Bitcoin is the premier one. It could potentially be the future of money, but not every place takes it. Some people wanted to be paid more.
Understanding Run Differential
Say the Philadelphia Phillies are playing the New York Mets. Philadelphia is favored by (-1.5) runs against New York. If you think the Phillies are going to win by more than one and a half runs in that match up, bet the (-1.5) If you think they won’t, then bet the Mets (+1.5).
In many instances, betting the + instead of the – will always lead to more money no matter if it is a bet in American Dollars or in Bitcoin. What if someone bet the New York Mets (+1.5) in 50 BTC? The amount of money that person is putting down in a bet is worth $2,297,023.52.
That is a ton of money and a crazy amount of money. You better be sure of what you are doing when placing down these big bets. Gambling is about the small bets and it is also about the big bets as well.
Let’s talk about bets the other way. What if someone placed a bet that was worth $10,000 American Value for the run spread? Well, in bitcoin terms, it would be 0.218 Bitcoin. This is a really expensive value and it is extremely difficult to understand.
Understanding Over/Under Runs
Say the New York Yankees are playing the Boston Red Sox. The over-under for the baseball game is 10.5 runs. First, take a look at the pitching match-up before making that decision on whether to bet the over/under. Second, take a look at each lineup.
If someone bet the over 10.5 runs and someone bet 50 BTC on the baseball game for it to go over the run total, the value of it is $2,297,023.52. But if someone placed a bet on it for $50, the bitcoin value is 0.00109.