"Fall Classic" is another name for the Major League Baseball (MLB) championship known as the World Series. The term refers to the fact that the World Series is played in October.
The World Series is the final set of games that takes place during the MLB playoffs. The American League Champions and National League Champions play in a seven-game series, with the first team to win four games taking home the trophy. Although championship games between different baseball leagues have taken place since the nineteenth century, the MLB acknowledges the World Series as beginning only in 1903, statistically speaking.
Beginning in 2003, the winning team of the MLB All-Star Game determines which league will have home-field advantage. This was an attempt by the MLB to add strategy to the exhibition game and to make it more relevant as interest was waning.