Betting on Basketball: Important Terms to Know

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Introduction: Betting on Basketball

Whether you’re in a stadium or watching a game from the comfort of your own sofa, these basketball betting terms are pretty universal. So grab a beer and some snacks. Let’s have a look in greater detail so that you’ll have a good grip on betting on basketball. You can find plenty of wagers at the Betsson Sportsbook.

Betting on Basketball: Point Spread

Simply put, points spread a handicap that sportsbooks impose on one team to even things out between two teams, more especially where one is better than the other. Continuing this talk, the team expected to win is called the “favorites” and the team expected to lose is called the “losers”. Just kidding! They’re called the “underdogs”. Now the team that’s expected to win, gives or lays points to the team that expected to lose to bet on basketball. Let’s look at an example.

Point Spread Example

Imagine that the Celtics are playing the Knicks. Most gamblers would bet on the Celtics to win, based on their outstanding record. But what would happen if the points spread to make the Celtics +10 points favorite? Well, it means that the Celtics would need to win by more than 11 points in order for the punter to win his bet. Conversely, a gambler placing a wager on the Knicks would win his bet if the Knicks won the game or lost by less than nine points. By this method of betting on basketball, you can see that if the Celtics win by 10 points, then the wager is a push or a tie. No money would change hands.

Point Spread Real Money

That all makes perfect sense. So let’s have a look at this scenario but use the money to illustrate our story. Now, if you’re gonna be wagering against the points spread, you’ll be asked to lay 11 to 10 odds. This means that you’re risking $11 in order to win $10. Of course, the bookies and sportsbooks have to make money too. So….if you bet $11 on the Celtics and you also bet $10 on the Knicks, the bookie will collect $22, though only return $21 to the winner. That’s because there’s the bookie’s fee to take into account. In this case, it’s one dollar.

Betting on Basketball: Totals

Also known as “over/under”, this is probably the second most popular betting method when betting on basketball. Essentially you’re trying to predict the total score from both the teams who are playing. Now, this number is posted up for all to see. This way the punter has a choice of wagering more than the predicted score (known as “over” or betting less (known as “under”).

Totals Example

So back to our game between the Celtics and the Knicks, the over/under number might be, say, 188. If you bet that the score would be 188 and greater, then you’re a winner. Conversely, wagering for a score under 188 would see your bet payout. If the score is exactly 188, then that’s considered a push or tie. Once again, no money is being paid out. In the same way, as we saw our point spread, the punter is being asked to layout 11 to 10 odds for the $11 risk to win $10 on each over/under bet.

Money Line Wagers

As we’ve seen, point spread and over/under wagers make up the majority of betting on basketball games. Another betting method is the money line wager. Essentially you’re betting on the winner of the game but without the point spread. Now, remember that some teams get to have a better than 50% chance of winning. So the money line wagers need to make use of odds. In other words, if you bet on the team that’s expected to win, you’ll be asked to pony up more than you stand to win.

Here’s an example. Imagine that the money line odds on the Celtics are -300 and for the Knicks, it’s +240. What does that mean? Well, it shows us that putting a $30 wager on the Celtics will win you only $10. If you think that the Knicks have a better chance of winning, then your bet is risking $10 in order to win $24. Keep in mind that virtually all sports betting was done with money lines at some point. But as more and more people might start betting on the favorite, so money line wagers were introduced. As a way of evening things out.

Parlays and Teasers

Of all betting on basketball, it’s these bets that are sometimes referred to as “exotic bets”. Here the punter must correctly predict the winner of two or more games. Now in parlays, the gambler has the option of betting against the point spread. He can also use the money line wager. Conversely, the Teaser makes use of pint spreads and he can also adjust the point spread in his favor. There is one rub to this method though, and that’s the entire bet is lost unless all of your teams win. So, being able to predict four outta five games isn’t going to do it, and your bet will be lost.

If you would like to see other tips on how to win huge money with sports betting check out our guides to win the jackpot.