Moneyline odds are used in baseball betting to represent the likelihood of a team winning a game. The odds are presented as positive (+) or negative (-) numbers. Positive odds indicate the potential profit for a $100 bet, while negative odds show the amount you need to bet to win $100. For example, (+250) means you could win $250 on a $100 bet, while (-160) means you need to bet $160 to win $100.