Michael Murray's Betting Baseball-- 2015 is the newest book on baseball betting, first published in 1994. It discusses the money line, the run line, betting Totals, measuring offense, measuring consistency in starters, evaluating injuries, the impact of ballpark differences, creating the line. A good portion of Murray's book looks at the role umpires may play in the final score (strike zones seem to vary within leagues and among home plate umps).
Author Michael Murray contends that a skilled sabermetrician can indeed outpoint the odds maker on a consistent basis."I think the odds makers are aware of sabermetrics but they don't take it into account when they make the lines," Murray said in an e-mail interview. "Everyone can find a pitcher's WHIP in the newspaper, but ... a pitcher's slugging percentage allowed tells me a lot more than WHIP.
"Until stats like that become commonplace it is safe to say that I'm staying ahead of the odds maker. He certainly has the stats that I do, but he can't use them like I can."