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You could be a professional basketballbettor looking to make some money, or a casual fan looking to enjoy the thrill of watching a basketball game. You will enjoy the betting process more if you have a good understanding of the types of bets available. Remember that you can place single or multiple game bets. Multiple game bets can be more risky, but they offer a higher payout. Below are some of the most popular types of betting.
Point spread betting. This form of betting attempts to even the odds between two teams. After identifying a favorite and underdog, the oddsmakers create a points spread (also known as a “line”) that makes the two teams equal in theory. It doesn’t matter what the actual outcome of the game is. If you choose to bet on the favorite you subtract the points spread from your favorite’s score. If the favorite comes out ahead, you will win. If you place your bets on the underdog, the spread is added to the score. You win if they come out ahead. To win $100 on these bets you will need to place $110, but some sportsbooks offer better odds for $105/$100. If the Chicago Bulls play the Utah Jazz and the Bulls are the favorites, the oddsmakers may set a line of seven points. If you choose the Bulls to win, subtract seven points from their score. The spread will show as + 7. The spread for the Jazz will also be displayed as +7.
Moneylines betting. You just need to choose a winner. The game results do count here and the odds you receive will depend on the perceptions of the oddsmakers. To win more, you’d need to wager more on the favorite and less on the underdog. Conversion charts can be found online that allow you to convert point spreads to odds. These are just two examples.
- The spread of 2 points in our Bulls/Jazz match results in the following odds: Bulls +130, Jazz + 110. To win $100, you’d need to place $130 on Bulls and $110 on Jazz.
Moneylines is a smart form of betting, especially when you are able to pick a short-priced underdog with a decent chance of winning. You can still make a profit even if your winnings are less than half of what you wager.
Parlays. These high-risk bets can pay handsomely, but you need to choose between two and twelve teams and get all your bets correct. Parlay bets can be ruined by a single error. These are just a few examples of what kind of odds you could receive:
3 teams 6/1
6 teams 40/1
9 teams 300/1
12 teams 1800/1
You can win $180,000 if you correctly bet on 12 teams.
Teaser betting. While you must pick multiple teams to win your bets, you can also shift the point spread. The following are some examples of odds that will help you understand this concept:
Number of teams – 4 point spread – 5 points spread
2 – 1/1 We1Win – 5/6
6 – 7/1 – 5/1
9 – 20/1 – 12/1
You can also place other bets, such as totals or pleasers. Details will be provided by the sportsbook where you placed your bets.