Beginner’s Guide to Betting on Basketball – Part Three

Posted on

We’re glad to see you back here exploring the philosophy behind betting on basketball. This time we’re going to look into what they stand for and how to use them.

Totals are perhaps the second most popular and one of the easiest types of bets you can place on basketball games. They come down to predicting the overall point-score at the end of the game. The bookmakers assign a number and your job is to guess whether the real results will exceed it or fall short to do so.

In this hypothetical example Chicago Bulls is playing Orlando Magic. The bookie assigns a total of 197. Person A decides to bet over, and person B goes for under. The game ends as such: Chicago Bulls 97 – 92 Orlando Magic. The overall points equal to 189, so person A loses their money, while B profits. If the results were to be 191 or higher, it would end on the contrary. Finally, if the game was to end 95 – 95, or overall 190, the wager would be a tie and both bettors would be refunded.

Here similarly to point spreads, bookmakers assign 11-to-10 odds, meaning you’d have to stake 11 bucks to win 10.
Statistically, it has been proven that people tend to bet over the appointed total. For that reason exactly bookies started responding to the increasing number of over bets by hanging the total by .5 or 1.5 points. This way they make the under bet a tad more enticing and attract money to both sides so that they can guarantee more profit for their establishment.

For example if the maximum bet assigned by a particular bookmaker for that game was $425 and someone put that exact amount on the line betting on the over, the bookie would most probably adjust the total to 190.5 to spread the money flow evenly between under and over bets.

In the next and last part of our handbook on basketball betting we’ll discuss teasers and parlays.

Beginner’s Guide to Betting on Basketball – Part Two

Posted on

Welcome back to Betting on Basketball: 101. Today we’ll go through the essential knowledge of point spreads.

We can call point spreads handicaps. Here again you have a clear favourite and a clear underdog. Obviously anyone in their right mind would pick the team which is likely to win to put their money on, but bookies have found a way to bring fun and excitement back to betting, while making a buck for themselves as well.

It all comes down to bookmakers creating an artificial tie between the two teams. Let’s look at a real-life example:
There’s an upcoming match between Miami Heat and Cleveland Cavaliers. The Cavaliers are positioned upper in the rankings and have been performing great in the last few games. Naturally, people will prefer to bet on them, so the bookies will create a point spread to attract money to Heat as well.

The Cavaliers will be put out as a 7-point favourite: Cavaliers -7; whereas the underdog will look like this: Heat +7. These numbers are actually not too confusing, all they mean is that if you put your money on the Cavaliers they’d have to win by at least 8 points for you to come ahead. So if the final score is Cleveland Cavaliers 27 – 19 Miami Heat, you’ll win your wager, but if it’s 27 – 24 you won’t because the required 7-point advantage is missing. Finally, if the difference is exactly 7 points (27 – 20), it’ll be a tie and all bets will be refunded.

Usually when betting against point spread you’ll lay 11-to-10 odds, meaning that you’ll have to risk 11 bucks to win 10. This is the magic trick bookmakers use to keep their business up and running. If one person bets $11 on the Cavaliers and another $11 on Heat, the bookie gets $22 and only has to pay out $21.

Make sure you read our next chapter of basketball betting where we’ll explore totals!

A Beginner’s Guide to Betting on Basketball – Part One

Posted on

Basketball is one of the most popular sports worldwide – it’s fun to watch, you easily get invested in the game, it’s thrilling and there’s a little something that can appeal to anyone. It’s also one of the easiest sports to bet on, and it’s very similar to football in that regard – if you know the basics of betting on one of them, you’ll feel comfortable betting on the other, too. Let’s break down the basic terms you’ll come across and how to use different strategies!

One thing you can bet on is the winner of the game – this is called a money line wager. It’s pretty standard – you choose whichever team you deem to have better chances of winning. Simple enough. Of course, this requires good knowledge of the teams, players and politics involved – you can’t make an informed decision without being even slightly aware of what’s going on. Don’t forget that the more you know, the more successful you’ll be.

Remember that when it comes to money line wagers, if you bet on the favourite, you’ll need to put way more money on the line if you want to get a big profit. Whereas betting on the underdog may be risky, but it’s cheaper. Here’s an example:
Los Angeles Lakers: – 250
Toronto Raptors: + 350

This means that if you bet on the obvious winner aka the Lakers, you’ll need to stake $250 to win $100, and if you choose the underdog that is the Raptors, you can win $350 while putting only $100 on the line (of course, the chances of that happening are slimmer).

Money line wagers are pretty common and most people choose this exact type of betting. However, something called a point spread was introduced not too long ago and it has been a game changer ever since. Stay tuned for our next installment where we’ll look into point spreads!