Basketball betting for sports betting beginners
Do you want to get into sports betting a bit? Based on the numbers, the odds that basketball is the sport you bet on are pretty good. Bookies have the numbers to back up the claim that basketball is second only to soccer in the United States when it comes to the amount of money wagered each year. In fact, each year’s premier amateur tournament March Madness is the second-highest-grossing sporting event for bookmakers across all sports (the Super Bowl is first).
There is a lot of money to be made betting on basketball, whether college or professional, but to have a chance of breaking even, you first need to know what you are doing. This article is a guide for those new to the world of basketball betting.
basketball betting
Just like soccer, basketball scores are usually very high due to the scoring system. This means that spread betting on basketball is the most popular way to bet.
In a spread bet, the person placing the bet wins if their team “covers” the spread. This means that the team wins by the specified number of points or loses by less than the specified number of points. Here’s a look.
San Antonio Spurs-8
New York Knicks +8
Betting on Spurs to cover the spread means they have to win by more than eight points to cash in. If you win by exactly 8 points, it’s a “push.” Your bet will be returned, but you will not win any extra money. If the Spurs win by just 7 points, they win the game but fail to cover the difference. In that case, you lose the money bet and those who bet on the Knicks get paid.
Betting on point spreads can be a bit tricky, so those new to sports betting might prefer the money line. This is a bet on one team to win the game, and it doesn’t matter by how many points they win.
In a money line bet, more money must be placed on the favorite team. For example, to win $100 on a favorite, you would have to bet $120. On the other hand, if you wanted to bet on the underdog, you can win more money. For every $100 you bet on a loser, you could win $130. Let’s take a look at how this would appear in “the books”:
San Antonio Spurs-120
New York Knicks +130
The favorite is always indicated by a minus sign, whether betting the spread or the line.
find a good value
As we mentioned at the beginning, both professional and college hoops are popular with those who like to bet on sports. To win the season or tournament, it is important to find bets that have a good value.
Good value bets are those that require you to bet the least amount of money to get the highest returns. Therefore, many people prefer to bet on college hoops over professional ones. Professional leagues often have teams that are very different in terms of skill level, and that is reflected in the odds.
On the other hand, college teams are generally closer in terms of skill. That means the bookies will set closer lines and spreads, and that’s an advantage for the person betting on the game.
Also, keep in mind that the more knowledge you have, the higher your chances of winning. Before placing a bet, see what is happening in the game in terms of lineups and even referees by checking the Internet and various sports channels.