Basketball odds can be confusing to newcomers. What do all those numbers mean? How are they used to determine who wins and who loses bets?
In this article, we’ll explain everything you need to know about basketball odds. By the end, you’ll be able to read and understand any betting line you come across.
Bookmakers with the Best Basketball Odds
Finding the best basketball odds can be a challenge for Canadian bettors. There are a lot of online bookmakers to choose from, and each one offers different odds on basketball games. These odds can change all the time to make things even more complicated.
What are basketball betting odds, and how do they work?
When betting on basketball, the odds can seem confusing at first. However, understanding how they work can help you make more informed bets and potentially win more money. Here’s a quick guide to basketball betting odds.
The most common type of basketball bet is the point spread bet. In this type of bet, the sportsbook will set a spread (or line), and you will bet on whether the final score will be above or below that spread.
For example, the Los Angeles Lakers are playing the Boston Celtics. The sportsbook may set the point spread at 5.5 points, meaning the Lakers would need to win by six or more points to cover the spread, and the Celtics would need to lose by five or fewer points.
If you bet on the Lakers to cover the spread, and they win by 7 points, then you will win your bet. If you bet on the Celtics to cover the spread and they lose by 6 points, you will also win your bet. However, if you bet on the Lakers and they only win by 5 points, you will lose your bet because they failed to cover the spread.
In addition to point spread bets, you can also bet on the Moneyline. In a Moneyline bet, you pick which team you think will win the game outright, regardless of the margin of victory. Moneyline bets usually offer lower payouts than point spread bets because they are easier to win.
Finally, you can also bet on the total, which is the combined score of both teams. The sportsbook will set a number, and you can bet on whether the final score will be over or under that number.
Remember to shop around for the best lines and never bet more than you can afford to lose.
How can you use basketball betting odds to your advantage when placing a bet?
When it comes to basketball betting, the odds can be your best friend or worst enemy. If you don’t understand how to read and use them to your advantage, you’ll likely lose more bets than you win. But if you know how to interpret the odds and use them to your benefit, you can increase your chances of coming out on top.
Here are a few tips on how you can use basketball betting odds to your advantage:
1. Know the different types of odds.
There are three main types of basketball betting odds – point spreads, money lines, and totals. Each one represents the probability of a certain outcome happening in a game, and they’re expressed differently.
Point spreads are the most common type of basketball betting odds. They indicate how many points one team is expected to win or lose by. The favourite will have a negative point spread (they’re expected to lose by that many points), while the underdog will have a positive point spread (they’re expected to win by that many points).
For example, the Chicago Bulls are playing the Miami Heat. The point spread might be something like this:
Chicago Bulls -4.5
Miami Heat +4.5
This means that the bookmakers expect the Bulls to win by 4.5 points. If you bet on the Bulls, they would need to win by five or more points for you to win your bet. If they win by 4 points or less, or if they lose the game, you would lose your bet.
On the other hand, if you bet on the Heat, they would need to either win the game outright or lose by 4 points or less. You would lose your bet if they lose by five or more points.
Moneyline odds are the second most common type of basketball betting odds. Unlike point spreads, which indicate how many points one team is expected to win or lose, Moneyline odds represent the probability of a certain team winning outright.
The favourite will always have negative Moneyline odds (they’re less likely to win), while the underdog will always have positive Moneyline odds (they’re more likely to win).
For example, let’s say the same Bulls and Heat game from before has the following Moneyline odds:
Chicago Bulls -200
Miami Heat +170
This means that the bookmakers believe there’s a 200 to 1 chance that the Bulls will win the game, while there’s a 170 to 1 chance that the Heat will win. In other words, it’s much more likely that the Bulls will win than the Heat.
If you were to bet on the Bulls at -200 odds, you would need to risk $200 to win $100. On the other hand, if you were to bet on the Heat at +170 odds, you would only need to risk $100 to win $170.
Totals are the third and final type of basketball betting odds. They represent the bookmakers’ prediction for the total number of points scored in a game by both teams combined.
For example, let’s say the total for the Bulls and Heat game is set at 195.5 points. The bookmakers believe that the two teams will combine to score 195.5 points or less. If you bet on the “under” 195.5 points, you would need both teams to score less than that number to win your bet.
Conversely, if you bet on the “over” 195.5 points, you would need both teams to score more than that number to win your bet.
2. Shop around for the best odds.
Not all bookmakers will offer the same odds on the same games. So it pays to shop around and see who’s offering the best odds before placing your bet.
This is especially true if you’re betting on the underdog, as you’ll want to find a bookmaker offering favourable odds on that team.
3. Know your basketball.
This may seem obvious, but it’s worth mentioning nonetheless. The better you know the teams and players involved in a game, the better equipped you’ll be to make an informed betting decision.
Keep up with the latest news and rumours surrounding the teams, and pay attention to things like injuries and player rotations. The more information you have, the better your chances of making a winning bet.
4. Manage your bankroll wisely.
This is advice for any gambling, but it’s especially important when betting on basketball. It’s easy to get caught up in the excitement of a game and bet more money than you can afford to lose.
Remember, even the best bettors only win around 60% of their bets. So don’t risk more money than you’re comfortable with losing.
5. Stay disciplined.
It’s also important to stay disciplined when betting on basketball. Don’t let your emotions get the best of you, and don’t try to chase your losses.
Stick to your betting plan, and if you start to lose, take a break and wait for another opportunity to bet.
3. What factors influence the basketball betting odds for a particular game or match-up?
Several factors can influence the basketball betting odds for a particular game or match-up. These can include the relative strength of the two teams, the location of the game, and any recent trends or developments that may be relevant. In general, oddsmakers will attempt to set lines that reflect their best estimate of how the betting public will react to the various factors at play.
One of the most important factors in determining the basketball betting odds is the relative strength of the two teams. If one team is clearly stronger than the other, oddsmakers will typically set higher odds for them to win. Conversely, if one team is seen as weaker, oddsmakers will often set lower odds for them to win. The location of the game can also be a factor, as home teams typically have an advantage over away teams. This is especially true in college basketball, where home-court advantage can be even more pronounced. Finally, recent trends or developments pertinent to the game can influence the odds. For example, if a team has won several games in a row, oddsmakers may set higher odds for them to win again. Conversely, if a team has lost several games in a row, oddsmakers may set lower odds for them to win.
Oddsmakers will often adjust the basketball betting odds as more information becomes available. For example, if a key player is injured before a game, oddsmakers may adjust the odds to reflect the reduced chances of that team winning. Similarly, if weather conditions are expected to be unfavourable for one team, oddsmakers may again adjust the odds to account for this. The closer it gets to game time, the more accurate the odds are likely to be.
While there is no surefire way to win at basketball betting, understanding how the odds work can give you a better chance of placing successful bets. Pay attention to the various factors influencing the odds, and check in with oddsmakers frequently to get the most up-to-date information. With a little research and luck, you may be able to beat the odds and come out ahead in your basketball betting.
Which teams offer the best betting value based on the current basketball betting odds?
There are a few things to consider when trying to determine which teams offer the best betting value based on the current basketball betting odds:
- Look at the team’s overall record. A team with a winning record is more likely to be favoured by oddsmakers than a team with a losing record.
- You’ll want to look at how the team has fared against the spread. A team that has covered the spread more often than not is likely to offer better value than a team that has not.
- You’ll want to look at the team’s recent performance.
A team that is playing well recently is more likely to be favoured by oddsmakers than a team that is not. By considering all of these factors, you’ll be able to find the teams that offer the best betting value based on the current basketball betting odds.
Basketball Odds FAQ
You can make many different types of bets on basketball games. The most common are point spread bets, Moneyline bets, and totals (over/under) bets. You can also bet on props, futures, and parlays.
A point spread bet is a bet on the margin of victory. The sportsbook will set a line, and you can bet on whether the winning team will win by more or less than that margin. For example, if the point spread is seven and you bet on the favourite, they would need to win by more than 7 points for you to win your bet. If you bet on the underdog, they would need to lose by less than 7 points or win the game outright for you to win your bet.
A Moneyline bet is a bet on which team will win the game outright. The odds will be different for each team, and the favourite will usually have negative odds (meaning you would need to bet more than you would win). For example, if the Moneyline is -200 for Team A and +150 for Team B, you would need to bet $200 on Team A to win $100, and you would only need to bet $100 on Team B to win $150.
An over/under (totals) bet is a bet on the combined score of both teams. The sportsbook will set a line, and you can bet on whether the final score will be over or under that number. For example, if the over/under is set at 180 and you bet the over, you would need both teams to score a combined 181 points or more to win your bet. If you bet the under, you would need both teams to score 179 points or less.
A futures bet is a bet on something that will happen at some point in the future. Futures bets in basketball can be made on things like which team will win the championship or which player will win the MVP award.
A parlay bet is a bet that combines two or more bets into one. All of the bets in a parlay must-win for the parlay to win. Parlays usually have higher payouts than individual bets, but they are also harder to win.
A prop bet is a bet on something that will happen (or not happen) during the game. Prop bets can be about anything, from how many points a specific player will score to whether there will be an overtime period.