Amanda Knapp
Basketball betting is rapidly rising in popularity. The NBA is one of the most popular leagues to bet on in the US, with a wide range of markets for both teams and players. The most common ways to bet on an NBA game include the winner of the match, the total points in a game, and betting against the spread. When betting on basketball, it is important to know how to read odds, understand the types of bets available, and know your betting limits. Odds will vary depending on your country, but American odds are the most common when betting on basketball. For example, a favourite might be listed at +110, meaning you would need to bet $110 to return a $100 profit. The underdog might be listed at +110, meaning a $100 bet would return a profit of $110.
| Characteristics | Values |
|---|---|
| Types of bets | Moneyline, Point Spread, Over/Under totals, Straight bet, Parlay, Teaser, Futures |
| Odds | Indicate whether a team is the favorite or underdog: negative for the former and positive for the latter. Odds will vary depending on the country. |
| Payout | Determined by the odds associated with the chosen team. |
| Wager | The amount of money bet. |
| Spread | An estimated margin of victory to factor into the betting decision. |
| Point Spread favorite | The team that has to win by more than the spread. |
| Point Spread underdog | The team that can either win outright or lose by less than the spread. |
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What You'll Learn
Moneyline bets
In a matchup between two teams, the favourite is indicated by a negative value, while the underdog is designated by a positive value. For example, if the Los Angeles Lakers are listed as -130 moneyline favourites versus the Toronto Raptors, who are listed as +110 moneyline underdogs, it means that the Lakers are considered the stronger team. To win $100 betting on the Lakers, one must risk $13. On the other hand, a $100 bet on the Raptors will win $110.
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Point spread bets
The point spread is the most popular way to wager when it comes to betting on basketball odds. Point spread betting is less prevalent in baseball because it is a lower-scoring sport, so it can make more sense to bet on the money line. However, it is a viable option in the MLB and is referred to as the "run line".
When placing a spread bet, it is important to check how a team has been shooting over a week or so, as basketball is a game of runs and it is not uncommon to see 20-point swings in individual games. It can also be a good idea to bet on underdogs in basketball, as point spreads can be significant, and it is relatively easy for an underdog to cover the spread. This is because heavy favourites often rest starters when blowing the other team out, enabling the underdog to come closer late in the game.
If the favourites win by the point spread exactly, this is called a "push", and bets are usually refunded. If the score ends in a tie after points are added or subtracted, the bet pushes and the wager is returned.
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Over/under bets
In over/under betting, a sportsbook will predict a number for a given game, usually the total number of points that will be scored. Bettors will then wager that the actual number will be higher or lower than this prediction. For example, if the over/under line is set at 200.5 points, you can bet on the over, meaning you are predicting that the combined score of both teams will be 201 points or more. Alternatively, you can bet on the under, predicting that the combined score will be 199 points or fewer.
The odds will indicate how much the sportsbook will take out of your winnings if you win the bet. It's important to note that sportsbooks will often add 0.5 to an over/under total to guarantee a result, as teams cannot score half a point. In the case of an exact match between the predicted number and the actual total number of points scored, this is known as a push, and you will receive your initial wager back.
To increase your chances of success in over/under betting, you can analyze the teams' past performances and look for trends and patterns. For example, if a team consistently scores high at home, it could indicate that they will continue to do so in their next home game. By considering the pace of the game and using statistical models, you can make more informed predictions.
While over/under bets are less risky than other types of wagers, it's important to remember that they tend to have lower odds and potential returns. Additionally, the total number of points scored in a game can be unpredictable due to factors such as injuries, game tempo, and player performance. As with all sports gambling, it's crucial to understand the odds and rules of your wagers and to bet within your budget.
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Understanding odds
The three primary kinds of odds in basketball betting are the Point Spread, the Money Line, and Over/Under Totals. The Point Spread is the most commonly used form of odds in basketball wagering and levels the difference in skill between the two teams. Oddsmakers set a handicap in points, with one team favoured to win by more than the spread and the other expected to either win outright or lose by less than the spread. The Point Spread favourite is indicated by a negative value, while the underdog has a positive value. For example, if the Los Angeles Lakers are -2.5 point spread favourites against the +2.5 underdog Toronto Raptors, the Lakers must win by three points or more to cover the spread, while the Raptors must either win outright or lose by two points or less. Point spreads also have a vig or juice, which is the cost of placing a bet. Most point spreads have a vig of -110, meaning you need to risk $110 to win $100.
The Money Line is a straightforward betting market where bettors predict the winner of the game. Odds are assigned to each team based on their likelihood of winning, with favourites offering lower payouts compared to underdogs. For example, if the Los Angeles Lakers are -130 moneyline favourites against the Toronto Raptors, who are +110 moneyline underdogs, you would need to bet $130 on the Lakers to win $100, while a $100 bet on the Raptors would win you $110.
Over/Under Totals, also known as the total, is the estimated total number of points scored by both teams in a game. Bettors wager on whether the final score will go over or under that number. For example, if the Over/Under total between the Los Angeles Lakers and Toronto Raptors is 222.5 points, a bet on the Over requires the final score to total 223 points or more, while a bet on the Under requires the total score to be 222 points or fewer.
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Parlays and teasers
Teaser bets are similar to parlays, but with a key difference. In a teaser, you can adjust the point spreads and game totals on two or more basketball teams by choosing a fixed number of points. This means that you can manipulate the lines in your favour, making it easier to get each bet correct. For example, you could place a seven-point teaser, which would move both sides of the bet by seven points in your favour. However, the payouts for teasers are not as high as traditional parlays, and they can be difficult to win consistently due to the challenge of predicting multiple outcomes correctly. Teaser bets are popular with bettors who are less risk-averse than the average gambler.
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