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The World Series is the showpiece event of Major League Baseball (MLB) and the 30 teams that vie for the crown. Unlike the Super Bowl the World Series consists of a best of 7 series and not just a single game.
MLB consists of 30 teams based in both America and Canada that are split into 2 divisions - The American League and the National League. The American League consists of 14 teams split into 3 divisions - East, Central and West, with the National League consisting of 16 teams again split into the same divisions. The reason there are not 15 teams in each is because inter-league play between the American and National league only takes place a couple of times a year and in the World Series so there needs to be an even number of teams in each league.
A baseball season normally consists of 162 games played between April and October, which each team playing a number of games on consecutive days against the same opposition (normally 3-4). The teams play 81 games at home and 81 games away on the road.
After the 162 games are played the final standing for each division are looked at and the 3 division winners and the team with the next best record all move onto the postseason. The next round of games between these teams is called the Division Series. The wildcard team (best runner up) takes on the team with the best overall record out of the 3 division winners, and the remaining two division winners will take each other on. The division series is played over a best of 5 series.
The two winners from each of the division series move on to the League Championship series, which is played over a best of 7 series. The winner of this series for both the American and National Leagues will them meet in the World Series.
The World Series will them be held over a best of 7 series, so the first team that wins 4games wins the World Series.
The current holders of the World Series are the Philadelphia Phillies who beat the Tampa Bay Devil Rays last October.