Baseball can be bet in several different ways. The most common way to bet baseball is by using a moneyline. A moneyline does not incur any pointspread. The team you are betting on only has to win the game for your bet to be a winner. An example of a moneyline is as follows:

New York Yankees   +130
Boston Red Sox   -140

The Yankees are listed on top because they are the away team. Boston is listed on the bottom because they are the home team. This will be the case in all games where the away team will be listed on top and the home team will be listed on the bottom unless otherwise specified.

Boston is the favorite because they have the minus next to their name. This number indicates that you will have to bet $140 on Boston to win $100. The Yankees will subsequently be the underdog. If you would like to bet the Yankees you will bet $100 to win $130.

MLB total

New York Yankees   10
Boston Red Sox   -140

In this example the money and the 'total' or over/under of the game is listed on top. In this example the 'total' is 10 runs. If you think that the two teams combined will score more than 10 runs you would bet the 'over'. If you think the two teams combined will score less than 10 runs you would bet the 'under'.

If the final score is has the Red Sox winning 3-1 than all players betting the 'under' would win since the total runs scored is less than 10 and all players betting Boston would win. Also in this example all players betting the 'over' would lose because the total runs scored was less than 10 and all players betting on the Yankees would also lose.

If the final score was 8-4 Yankees than all players betting on the 'over' would win because the total runs scored is more than 10 and all players betting on the Yankees would win. Consequently all players betting the ‘under’ would lose since the total runs scored is more than 10 and all players betting on Boston would also lose.

MLB runline

Another common way to bet on Baseball games is by betting on what is called the run-line. This is a pointspread using +1 1/2 or -1 1/2 runs.

New York Yankees   +1 1/2 -160
Boston Red Sox   -1 1/2 +140

In this example if you want to bet Boston you are laying 1 1/2 runs and getting +$140. Thus, Boston must win by at least two runs in order to cover the runline. If you want to bet the Yankees you will be getting 1 1/2 runs but must lay $160 to win $100. The advantage here is if the Yankees win the game you win your bet, or if they lose the game by one run you still win your bet, that is why you are laying money while getting runs.

If Boston wins the game 4-3 then all players that bet on the Yankees would win and all players who bet on the Red Sox would lose their bets even though the Red Sox won the game.