The Major League Baseball (MLB) playoffs begin in early October and feature a total of 12 teams. The three division winners and three wild-card teams (those with the next best regular season record) advance to the postseason from both the American League (AL) and National League (NL).
The lowest-seeded division winner and three wild-card teams face off in a best-of-three Wild Card Series, with the two winners then going on to face the top two seeded division winners in the Division Series. The winners of both Division Series progress to the best-of-seven Championship Series, from which the ALCS and NLCS champions then contest the best-of-seven World Series.
Several different odds and markets are available throughout the MLB playoffs. For example, if the Toronto Blue Jays entered the playoffs as a wild card, you could bet on them to win the Wild Card Series, or alternatively to win the American League Championship Series or World Series.