When you want to place a bet on an exciting game, the NBA is a good way to go. From placing live bets during the game to following your favourite team as they dominate (hopefully), betting on the NBA can be a great way to take your love of basketball to a new level of fun.
However, when it comes down to placing bets, you can get yourself into a bit of a bind if you approach it without a game plan. So, to ensure you place your bets wisely, here are some tips that are sure to help you get into betting on the NBA in a strategic way.
- Understand how the odds work
One of the first things that you’d need to learn to bet on the NBA successfully is how to read the odds. The odds refer to the bookmaker’s statistics on the chances of which team is more likely to win and which is more likely to lose.
When you’re presented with the NBA odds, the ones with a minus will indicate who the favourite or more likely to win is, and a plus would be the indication for the underdogs who are considered not likely to win. These odds have different implications depending on the type of bet you place. For example, when betting on a team to win +5.5, they could lose by five points, but you’d win the bet regardless.
Here are two key questions to ask yourself before you place your bet after reading the odds:
- Are any players injured in a way that could impact the odds?
- How is the bookie managing this bet?
In addition to understanding how to read the odds, you’ve got to be able to read between the lines to see the bookmaker’s intentions, which can also be helpful when placing a wager. This leads to our next point.
2. Identifying the shaded lines
Sometimes, bookmakers intentionally hike up prices on a line when they anticipate there being a lot of action for the specific game. Depending on whose playing, the bookmakers might increase the spread figures to something like 6.5-8.5 points as a means of enticing you to place a wager on the underdogs. If you’re able to spot a bookmaker doing this, you may be able to make a valuable bet on the other side. Likewise, it could also help you dodge a bullet if the game doesn’t go their way.
- Betting on the Fade
In the NBA, people often bet on their favourite teams that are more likely to win. When you bet against the favourite and go for the underdog instead, this is called betting on the fade. You’re intentionally going against the favourite team. Remember, bookmakers make their money from the losses of other bettors. So, when a bettor wins on the favourite, their losses are as significant as when a bettor wins from betting on the underdog. As a result, they’ll encourage you to bet on your favourite. However, you might find that it’s more profitable in some cases to bet on the fade.
- Using live betting
Live betting is super underrated and often gives you access to make spur-of-the-moment bets based on what you see happening in the game in real time. For example, let’s say a key player gets injured 10 minutes into the game. Suddenly, the odds have changed. Placing a live bet based on this information could result in a lucrative move
Basic betting tips to help you win
When it comes to the NBA, following a few tips on NBA games can be a helpful way to place successful bets. Here are some tips that should help you make some wiser bets:
Have a betting plan
Try always to have a betting plan for the season ahead. A decent betting plan would consist of a budget and bankroll, extensive research done into the last season, up-and-coming players, and the predictions for the upcoming season. By having a plan, you at least know how you’d like to bet on certain games, and you’d potentially improve your chances of making a winning bet.
Watch the games closely
As we said earlier, live betting presents you with some great betting opportunities. However, you won’t really be able to place live bets if you aren’t watching the game live. Would you be able to do so now? Make an effort to watch every game that you’re betting on. Watch it closely for betting opportunities as soon as they arise.
Try to avoid placing the wager while the game is ongoing otherwise, you might miss something important. Rather, wait for a time-out to be called so you can place the bet without missing anything.
Don’t put all your eggs in one basket
Finally, make sure that you diversify your bets. When you place one large bet on one aspect of the game, you increase your chances of losing a larger amount. But, when you spread your wagers out by placing them on various types of bets, you reduce your chances of having a significant loss while also improving your chances of winning.
Final Thoughts
It can be incredibly rewarding to see your team win their games or even the season, but throw in a successful betting season on top of that, and you’d feel like you won that season, too! This will only happen with a good betting strategy backing you as you place your wagers for the season. So, follow the tips above, do your research, and you’ll find that your chances of success will be considerably higher.
