If you want to learn how to bet on one of the easiest sports you can bet on (out of the 4 main sports), then basketball is made for you. The team that is favored or expected to win is called the favored team, and the one that is expected to lose is called the underdog. This expectation is based on the team's history along with their odds. The team that is expected to win will award points to the underdog for betting purposes. For example, if the Knicks play against the Celtics, most of the gamblers, bettors prefer to bet on the Celtics (to win the game).
Basketball betting is very similar to football in that it uses point spreads for betting bets on both teams, as well as over/under numbers. If you already know how to bet on football, you also know how to bet on basketball. One of the most common methods that gamblers like to use when betting online is the point spread, which is a type of handicap that bookies impose on one side (team) that will make both parties equal when it comes to betting.
You may be asking yourself, how does it work? It's normal when the two teams meet on the court, one is always better than the other. If all the gamblers (bettors) had to do was pick one team which was the winning team, every one of them would just bet their bets on the team with the best odds, and collect their money.
An example we can use is from Super Bowl 50 when the Denver Broncos and Carolina Panthers played against each other on the web. The general public believes the Carolinas are the better team of the two, and if all bettors had to do was pick the team with the better chance of winning, most of them would just take the Carolina Panthers. However, what the bookies and sports books do to make the two teams equally attractive to gamblers, is create a point spread. Because of this, the Panthers are seen as a 6 point favorite, which is usually written as 'Carolina -6'. Underdog (Denver) is usually written as 'Denver 6' (in this case).
The Panther must win by 7 points or more for you to win your bet if you place a bet on the Panther. Remember that the Carolina Panthers are favored by 6 points, so to win your bet you must reduce the final score by 6, and the payoff must be greater than six. If the Carolina Panthers are 24 - 17 years old (meaning they win) the bettors who bet on this team will win their bet. But if the Panthers win by a score of 21-17, the bettors will then lose their bet as they did not win their bet by more than six points.
If you were to bet on the underdog, the Denver Broncos, you would win your bet only if Denver lost by five points (or less), or if they won the game. Since the Denver Broncos are the underdogs in this situation, we have to add six points to the final score (their final score), for betting purposes. All bets will be refunded if the Panthers win the game by exactly six points (23 - 17) because it is called a 'tie'.
When you see the point spread, you will usually be given the option to bet your money on the game with a ‘money line’ bet. Point spreads and money line bets are somewhat similar, but different. To understand this better you need to know more about money line betting.
A money line bet is a bet placed on the winner of a particular game, but without the point spread. When some team is given more than 50% chance of winning, these money line bets will be made using the odds. This way if you bet after the maxbet list on the team you like you will be risking more than you can win. The best way to understand this bet is with an actual example. Imagine if there was a game between the Brooklyn Nets and the Charlotte Hornets. When you look at the odds, gamblers will see this:
Brooklyn Nets - 130
Charlotte Hornets 120
In this example, the Brooklyn Nets are the favorites as indicated by the minus written in front of their points (-130), which makes the Charlotte Hornets the recognizable underdog due to the plus.
It is important to know when you should use money line bets. This bet is mostly used when the point spread becomes unimportant, and can be used in a variety of sports; boxing, auto racing, and tennis, along with baseball, football, and hockey. Because football, baseball, and hockey games have winning margins, they are so small that it is absolutely impossible to have a point spread for every game. The difference between the odds (money line odds), on the underdog and the favorite, tends to increase as the winning streak increases.
The reason behind the shift in the difference in odds is simply that bookies usually make money only when the less favored team wins. While in point spread betting, bookmakers always hope to get the same amount of money wagered on each team, as this will definitely guarantee a profit. While in money line betting, bookmakers realize that bettors will bet their money on the team that is more likely to win, so they can only hope that they will have enough bets on the underdog, so that they can cover potential losses on the favorite team.
Deciding when to bet the money line bet or the point spread will be one of the decisions you will have to make as a gambler. There are no actual rules for when to use money line bets and when to use point spreads, the decision is always left to the gambler and his point of view.
The second most popular method of betting and wagering on the game of basketball is called the totals bet, which is also known as the over/under. Many gamblers believe that this bet is easier than trying to predict who will be the winner of a certain game. Even bookies usually agree with this fact, so they place smaller over/under betting limits than they would when betting teams (either against money line bets or point spreads). This is a type of bet in which the bettor bets his money on the outcome of the game in relation to the bookmaker's total, which can be under a number. The winner of this bet will be determined after adding up the final scores of the teams (both teams). It's very simple.
Imagine if the Miami Dolphins were playing against the New York Jets, then the posted total would be 40. If you placed a bet on the game, you would win your bet if both teams' total is over 40 points. If for example the Dolphins win by a score of 24-17 then you win the bet. However, if the score is 24 - 14, then you lose the bet because the total score is not more than 40.
Other types of bets in the game of basketball come in the form of teasers and parlays, and they can sometimes be called exotic bets. A parlay is a mixture of two or more bets or stakes that the gambler will connect, and all of them must be winning bets for the bettor to win his parlay bet. In the world of betting on sports, a "teaser" is a bet made on at least two basketball or football teams. For gamblers to win, all teams must cover the point spread. Unlike in a parlay bet, in a teaser bet the bettor can subtract or add points from the point spread and he can receive lower odds than in a parlay bet.
In this type of official soccer betting bet, the bettor must correctly predict the outcome of the match, who will win (in two or more matches). In parlay betting, gamblers have the option of going up against the point spread (using a money line bet) while teasers will be made using point spread bets and parlays who can adjust the point spread in their favour. There is one catch when it comes to teasers and parlays. In order to win your bet, all of your teams must win.
When talking about parlays betting, there are what are called money line parlays. They don't use fixed odds because odds can vary a lot from team to team. When you bet a parlay against the point spread you will have a 50% - 50% chance of winning, but in a money parlay you will not. Simply put, these bets (money line parlays) will take the amount you bet and they will place all of your bet money on one of the teams. If that team wins, your bet amount will be counted again on the next team, which means he will place your entire bet on that team (again).
Now, there's the age-old question: Is parlays a good bet? And the answer is no (especially when parlays involve point spreads or totals). Chances of payoff will be lower than actual odds. When the true odds of a three-team parlay winning (while placing bets on the point spread) are 7-1, and the payoff is only 6-1, it gets worse when you keep betting on more teams. The game odds calculate money line parlays (prizes), so there is no loss or gain when betting your money with these bets. It is good advice for bettors to stick with straight bets such as betting against point spreads and totals.
For a teaser bet, there must be a minimum of 2 teams, and this bet can use up to 10 teams, which all depends on the sportsbook where the bet will be placed. Most of the bets placed are usually limited to six. In most sportsbooks, a tie will count as a loss, although the number of teams in the teaser will be reduced by one (sometimes). Before placing these bets, it's safest to check with the sports books to make sure you are introduced to the rules.
The teaser bet in a basketball game works exactly like the teaser bet in a football game, but players usually receive fewer points at which they can move the line.
4-point Teaser :
Two teams = 10/11
Three teams = 9/5
Four teams = 3/1
Five - team = 9/2
Six teams = 15/2
4.5 Teaser points :
Two teams = 10/12
Three teams = 8/5
Four teams = 5/2
Five - team = 4/1
Six teams = 7/1
5 - Teaser points :
Two teams = 10/13
Three teams = 7/5
Four teams = 2/1
Five - team = 7/2
Six teams = 13/2
Unlike for parlays, there is debate about teaser bets among professional gamblers; Is this bet a good one or not? Opinions on this subject can vary widely, some believe that teaser bets are just sucker bets, and others think they are worthwhile.
The basketball 'Handicap' bet is an invaluable type of bet that bettors use if one side (team) is favored over their opposing team. To cover these indications, bookies usually offer handicap bets to make the playing field even.
Other bets that can be placed on basketball include:
After studying all the possible bets, you must create your own solid strategy, which is an essential part of any basketball betting system. When talking about basketball betting strategies, we need to analyze this specific sport which has a wide variety of betting options. One of the most popular games in the world of gambling is basketball, with millions of gamblers following the game and creating their own strategies.
There are several different ways for you to increase your investment rate (ROI), which will make your experience with betting much more profitable. Both online and offline sportsbooks make a lot of money from amateur bettors, who impulsively choose their bets not led by strategy, but by their emotions. If you want to make money while having fun, you have to follow some general rules. These rules are usually referred to as 'betting strategies'. The people who feed the bookies and sports book companies are 98% of the people who think betting is all about luck. You must not let yourself be carried away by the excitement of gambling, or as they call it in gambling slots.
Betting can be a lot of fun, especially when you win. But you should always keep track of the money you lose and the money you win. Make a schedule of the money you can afford to lose, either weekly or monthly, depending on how often you bet. There is no reason for you to bet every day. You should always be alert when you are supposed to bet on the market. Good advice is to always back a team that has a good winning history and play against a team with a bad winning history. Statistics or odds are the most valuable part when creating a strategy, especially for in-game strategies. In a situation where both teams look to be scoring high in the second half, you shouldn't be afraid to bet against the market. Against the big market can keep high profits.
An old adage “Nobody has ever gone broke making a profit”, without a doubt applies to basketball betting. In basketball, the game can have many lead changes, and teams can score a lot in just a second. Because it is now, it is not uncommon for teams to trade odds on, during their matches. Sometimes, a very favorable opportunity can present itself during a game. So whether you decide to place a bet during or before the basketball game starts is completely up to you. Both are good choices. Just remember, bet responsibly, don't be greedy, and have fun betting on your favorite team.