Basketball is one of the world’s most recognizable sports. This is mostly thanks to the NBA. With celebrity basketball stars like Michael Jordan, Kobe Bryant, and LeBron James bringing the game international prominence, people love watching basketball. It is not surprising then that a lot of people are fans. A lot of people take their support of their favorite teams to another level by putting money on their favorite teams through Bitcoin sports betting.
Basketball betting is a favorite pastime of many people. For those who are interested in placing bets, it can also be easy to get into. If you already know how to bet online, it should be easy enough to start placing wagers. However, the difficulty is that each sport has a particular way to display odds. Betting on basketball games means you need to be aware of the various betting odds available. Here are three of the basic ones that should start you on your basketball betting career.
Money line bets in basketball betting are the simplest to understand. They also happen to be the most common. The concept behind it is pretty simple: you just put money on the winning team. Here is how the odds are usually presented:
Golden State Warriors: 3.440
Utah Jazz: 1.364
You place your bet on the team you think will win and get a return based on the odds. The basketball betting odds also reflect who the book makers think will win. The lower the return, then the higher the chances they have of winning.
For an example of how this works out using the above example: if you bet on $10 on Golden State, then you get $34.40 when they win. If the Utah Jazz wins and you bet $10 on them, you will get $13.64. Note that the return will include your original bet, so your profit will be the payout minus your bet.
Money line betting is just the beginning in basketball betting odds. The next step is betting on the handicap. Handicap betting is useful when one team is heavily favored and the normal odds are not as profitable. The important part of a handicap bets is the handicap number.
The handicap number is displayed as either + or – a value and is part of the odds. Handicap bets look like the following:
Golden State Warriors: (+7.5) 2.050
Utah Jazz: (-7.5) 1.862
The handicap adds another layer to the bet. It means that the team must win by that number or the bet would still lose. For example, the final score is 100 to 96 in the Jazz’s favor. The handicap is then deducted resulting in 92.5 to 96 in the Warriors’ favor. To win the bet, the result after the handicap must still be the team you bet on.
Betting on the totals of the game is the third type of bet. In this wager, there are no teams. The competing teams are named though you do not bet on them. The bet is just whether the total score is over or under the total amount. Here is an example of basketball betting odds:
Over 205: 1.72
Under 205: 2.810
The total is the score of both teams participating in the game. You make a bet on one of two results and get a payout depending if you are right.
These three bet types should be enough to get you started in basketball betting. There are more complicated bets out there, but they are better left alone until you are more experienced.