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MLB dog variance

Baseball is the highest-variance major sport (rating->win only +0.12) yet the public loves favorites. Back MLB underdogs priced 2.2-3.5 when our Elo edge is at worst -3%.

The rule, in plain words

  • Probabilities come from: Elo rating (strength score updated after every match; converted to a win probability).
  • Backs underdogs priced between 2.2 and 3.5, as long as the model edge is no worse than -3%. The theory: the public overbets favorites, so longshot prices run generous.
  • Stakes: flat $10 per bet.

baseball · Match winner (2-way) · status: live · betting forward from 2026-07-03 · same $1000 start as every other strategy

$1016.42
balance (started at $1000)
+16.42
13.7% return on money staked
6/12
bets won / settled
0 bets still pending

Every bet this strategy madelatest 12

BetStakeOddsTo winModel edgeP&LStatus
American All-Stars win in National All-Stars v American All-Stars · Match winner (2-way) @ 2.24
$10.002.24$12.36+1%+12.36won
Boston Red Sox win in New York Mets v Boston Red Sox · Match winner (2-way) @ 2.29
$10.002.29$12.88+19%+12.88won
Seattle Mariners win in Tampa Bay Rays v Seattle Mariners · Match winner (2-way) @ 2.34
$10.002.34$13.42+6%+13.42won
Los Angeles Angels win in Minnesota Twins v Los Angeles Angels · Match winner (2-way) @ 2.52
$10.002.52$15.22-0%-10.00lost
Washington Nationals win in Washington Nationals v New York Yankees · Match winner (2-way) @ 2.59
$10.002.59$15.88+15%-10.00lost
Cleveland Guardians win in Miami Marlins v Cleveland Guardians · Match winner (2-way) @ 2.24
$10.002.24$12.36+1%+12.36won
Toronto Blue Jays win in Seattle Mariners v Toronto Blue Jays · Match winner (2-way) @ 2.29
$10.002.29$12.88-2%-10.00lost
Los Angeles Angels win in Los Angeles Angels v Boston Red Sox · Match winner (2-way) @ 2.24
$10.002.24$12.36-2%-10.00lost
San Diego Padres win in Los Angeles Dodgers v San Diego Padres · Match winner (2-way) @ 3.20
$10.003.20$22.00+2%-10.00lost
Miami Marlins win in Oakland Athletics v Miami Marlins · Match winner (2-way) @ 2.20
$10.002.20$12.00+15%+12.00won
Colorado Rockies win in Colorado Rockies v San Francisco Giants · Match winner (2-way) @ 2.34
$10.002.34$13.40-2%+13.40won
Pittsburgh Pirates win in Washington Nationals v Pittsburgh Pirates · Match winner (2-way) @ 2.34
$10.002.34$13.40+10%-10.00lost

"Model edge" = model probability × odds − 1 at the moment of betting: the profit the model expected per $1. Positive edge can still lose (single bets usually do) — the question is whether edges are positive on average AND the model's probabilities are honest.