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The All-Star Break is here, marking a significant point in the Major League Baseball season. As Monday kicks off with the Home Run Derby, followed by the MLB All-Star Game on Tuesday, it’s a bustling period for baseball sports betting markets, brimming with exciting odds.
MLB is hoping for the baseball to soar off the bats as Coors Field in Denver sets the stage for the festivities.
Shohei Ohtani favored to win Home Run Derby
The MLB All-Star Game betting festivities kick off with the participation of an eight-man lineup for the 2021 Home Run Derby. The powerful hitters will go head-to-head on ESPN at 8 p.m. ET on Monday.
Starting in 2015, the derby transitioned to a bracket system, where competitors face off individually to determine who progresses to the semifinals and ultimately, the finals.
According to BetMGM Sportsbook, Shohei Ohtani is favored to win the Derby this year, with odds of +250. Joey Gallo follows behind with +450 odds, and Pete Alonso trails at +500.
As of the current weekend, BetMGM had a 32.3% share of the tickets and a 35.1% share of the handle placed on Ohtani.
Juan Soto (+900) has secured the second-highest number of tickets (20.1%) and handle (15.7%). In terms of market risk for BetMGM, Ohtani, Soto, and Trevor Story (+850) are the most significant liabilities.
At the halfway point of the season, Ohtani is currently the top home run hitter in the MLB with a remarkable 33 home runs. This puts him ahead of every other player in the league by a significant margin, with a lead of five home runs. In addition, Ohtani’s home run count surpasses that of any player participating in Monday’s game by an impressive nine home runs.
In addition to that, BetMGM provides betting options for first-round matchups, finals matchups, and the precise result of the final. Moreover, you have the opportunity to place a wager on the longest home run, with the market threshold set at either over or under 500.5 feet.
BetMGM has a promotional offer for the derby where you can win $1 in free bets per home run hit during the first-round matchup if you bet $50 on a player, regardless of their victory or defeat.
NL the slight favorite for MLB All-Star Game betting
The All-Star Game is scheduled to be broadcasted on FOX at 7:30 p.m. on Tuesday.
The National League is favored by oddsmakers in this matchup. FanDuel Sportsbook has set the NL’s moneyline at -116, while the American League stands at -102. PointsBet Sportsbook, on the other hand, lists the NL at -112 and the AL at +104.
Both sportsbooks have listed the total for the over/under at 10.5 runs.
Starting outfielder Ronald Acuna Jr. of the Atlanta Braves suffered a torn ACL, dealing a minor setback to the NL this weekend. As a result, Manny Machado from the San Diego Padres will step in and take his place in the starting lineup.
DraftKings Sportsbook is offering a captivating game prop that revolves around the possibility of a Home Run Derby participant hitting a home run during the All-Star Game. The odds for this outcome are listed as +175 for Yes and -220 for No.
Given that this game is a major platform for Ohtani, it is highly probable that he will have the opportunity to take several powerful swings at the plate.
Astros, Giants climbing up MLB futures markets
Reevaluating the futures markets in Major League Baseball during the All-Star Break presents a valuable opportunity.
The Houston Astros and the San Francisco Giants have experienced the greatest improvement in their odds during the first half of the season.
According to FanDuel, Houston’s initial odds of winning the World Series were +2500. However, they have now improved significantly and currently stand at +450. The only team with better odds is the Los Angeles Dodgers, who are at +400.
Houston, with a record of 55-36, shares the top spot in the AL standings alongside the Boston Red Sox. Additionally, the Astros hold a 3.5 game lead in the AL West division.
At the beginning of the season, the Giants were considered a major underdog with odds of +11000 to win the World Series. Nevertheless, they have made significant progress and currently stand at +1300 as the season reaches its midpoint.
Despite currently having the best record in baseball at 57-32, the San Francisco Giants find themselves trailing four National League teams in the World Series odds race, according to FanDuel.
The New York Yankees have been moving in the wrong direction as a team. Initially, they had a promising start to the season with odds of +550 to win the World Series. However, their current odds have significantly dropped to +2500.
The Yankees currently have a record of 46-43 for the season and find themselves eight games behind the leading team in the AL East. In addition, they are trailing by 4.5 games for the last available AL Wild Card spot.
Dodgers remain highest-wagered team
The Dodgers still hold the highest number of bets to win the championship at the break.
BetMGM reports that Los Angeles is receiving 12.3% of the World Series tickets and 16.7% of the handle.
The Padres have acquired the second highest ticket sales at 9.9% and the third highest revenue at 9.5%.
The New York Mets currently have the second-highest handle at 10.8%.
The Angels hold the top position in liabilities for BetMGM due to their odds opening at +4000 and currently standing at +7000. Additionally, they have received 3.7% of the handle.
The Giants rank as the second-highest risk factor, despite their initial low chances at the beginning of the season. Surprisingly, they currently hold 3.1% of the total bets placed for the World Series market.
The Detroit Tigers have had minimal impact so far. Initially starting with odds of +10000 at the beginning of the season, Detroit’s odds have now dropped to +50000 after being swept in a four-game series against the Minnesota Twins. The betting handle on Detroit is currently just 1.1%.
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