WHIP = Walks + Hits / Innings Pitched
Somewhat siimilar to ERA (Earnred Run Average), WHIP measures a pitcher’s proficiency to keep the opposing team’s batters off the bases.
There are some important distinctions between the two sabermetrics, however: WHIP is more accurate at calculating a pitchers ability to keep runners off the bases because it also factors in walks; whereas ERA deals strictly with "earned" runs and does not include any "unearned" runs as a result of a fielding error. Furthermore, a pitcher’s WHIP calculated over time will always increase if runners are able to get on base. As a result, a low WHIP indicates a high quality pitcher.
A handful of MLB pitchers have WHIP numbers under 1, considered an extraordinary achievement. The current record WHIP is 0.9678 in 2,327 innings, held by Addie Joss of the Cleveland Indians. The lowest ever WHIP in one season was 0.7373 from Pedro Martinez in 2000. Meanwhile, Martinez holds the 6th position on the all time lowest career WHIP list with an amazing 1.0544, current as of the end of the 2009 MLB baseball season.
WHIP is useful in baseball betting because it can gauge how valuable a pitcher is in a given matchup. Pitchers with low WHIP numbers will most likely produce wins for their teams, and therefore betting with the pitcher could be a winning proposition. On the other hand, a pitcher with a high WHIP represents a predictable loss for his team, because he allows too many batters to get on base. ERA and WHIP numbers generally coincide to indicate top quality pitchers. Discrepancies between these two calculations might represent an under or over valued pitcher, which of course is extremely important for someone betting on the outcome of a baseball game.
Finally, it’s important to remember that the quality of a particular pitcher isn’t the only factor that will determine a game’s result. One must also consider the batting lineup, relief pitchers, and closing pitchers.
The quality of infield and outfield play is also key to figuring how well a team will perform against its opponent.
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