Online betting has expanded the types of bets and alternatives available on the most well-known basketball league in the world. Online sportsbooks pay close attention to the National Basketball Association since it is one of the most widely bet upon events globally. While there are always a ton of futures or fixed odds wagers placed far in advance of NBA picks tip-off, they also provide live markets that you may place wagers on during a game.
Moneyline Bets
It is the most straightforward type of bet. With a moneyline bet, you simply decide which team you believe will win the game. Odds will be set based on each team’s perceived chances of winning, with underdogs yielding bigger payouts if they win and favorites offering lesser rewards.
Point Spread Bets
Point spread betting is about predicting not just who will win but by how much. A bookmaker will set a spread, or margin, that one team must win by for the bet to pay out. If the Los Angeles Lakers are -7.5 against the New York Knicks, for instance, they must win by 8 points or more for a bet on them to be successful. Conversely, a bet on the Knicks would be successful if they win the game outright or lose by 7 points or fewer.
Over/Under Bets (Totals)
Instead of predicting the winner, over/under bets focus on the combined total score of both teams. A bookmaker will set a total, and you can bet on whether you believe the total will be over or under that number. For instance, if the over/under for a game is set at 215.5, and the final score is 110-108, the total is 218, which means the “over” wins.
Parlays
Parlays involve combining multiple bets into one. While they can offer significant payouts, they also come with increased risk because every leg of the parlay must win for the bet to pay out. For instance, if you bet on a four-team parlay, all four teams must win their games. Even if just one loses, the entire parlay is lost.
Teasers
Teasers are similar to parlays in that they involve multiple bets but allow you to adjust the point spreads or totals in your favor. In exchange for this advantage, the potential payout is reduced.
Prop Bets (Proposition Bets)
These are bets on specific events or statistics within a game rather than on the game’s outcome. Examples include betting on which player will score the first basket, how many points a specific player will score, or the total number of rebounds a player will have.
Futures Bets
Futures bets are bets made on future occurrences, as their name suggests. It could be betting on which team will win the NBA Championship, which player will be the MVP, or how many games a team will win in the regular season. Futures bets usually have longer odds and are placed before the season starts with the help of NBA computer picks or early in the season.
Live Betting (In-Play Betting)
Live betting allows punters to place bets while a game is in progress. Odds will shift in real-time based on the flow of the game. This type of betting requires quick decision-making and a keen understanding of the game’s dynamics. For instance, if a team trails by a large margin but starts making a comeback, you might bet on them to win or cover the spread during the game.
Quarter and Halftime Bets
These are bets placed on the outcome of a specific quarter or half rather than the entire game. For instance, you might bet on the Lakers to outscore the Knicks in the second quarter or the total points scored in the first half.