New York Yankees
The Yankees have made the playoffs in 16 of the last 17 seasons. Reuters

The 2012 MLB playoffs have finally arrived.

With the addition of a second wild card spot in each league, there are 10 teams in the postseason for the first time in baseball history. The Rangers and Orioles will battle in the American League in a one-game elimination contest. In the National League, the Braves will host the Cardinals.

After being at the bottom of the NL for much of the past decade, the Nationals and Reds finished the season with the best two records in the sport. Washington won 98 games, which is the most since they made the move to D.C. Cincinnati’s 97 wins helped them run away with the NL Central.

Stellar regular seasons by the aforementioned clubs have made them the favorites to win the World Series. According to the online betting Web site Bovada, each team’s title odds have been set at 5/1.

The Yankees are also tied atop the list with 5/1 World Series odds. New York finished the year with 95 wins and home-field advantage in the AL. They’re trying to win their record-setting 28th championship in franchise history.

The Cardinals and Orioles are tied or the worst odds. Each team enters the playoffs at 15/1. St. Louis is the defending champions, but they enter the postseason tied for the worst record of any remaining team.

Tied with the Cardinals at 88 wins are the Tigers. Despite Detroit’s record, their odds have been set at 6/1, the second-highest in the AL. They don’t have home-field advantage in the first round, and will be forced to play at Oakland in the final three games of their series.

Below is the complete list of World Series odds for each team in the 2012 playoffs.

New York Yankees 5/1

Washington Nationals 5/1

Cincinnati Reds 5/1

Detroit Tigers 6/1

Texas Rangers 7/1

Oakland Athletics 15/2

San Francisco Giants 15/2

Atlanta Braves 12/1

Baltimore Orioles 15/1

St. Louis Cardinals 15/1