Basketball is one of the most popular sports in sports betting. Basketball betting is easy to learn and there are usually two ways to use it – through traditional bookmakers and through betting exchanges. Both methods give different options and both can be profitable when used correctly.
Basketball Betting with Bookmakers
One way of trying basketball betting is by using a bookmaker. A bookmaker sets the odds for each game and each market. The bookmaker offers prices, and the bettor chooses which one to place money on. For example, if a bookmaker offers odds of 1.90 on a football team to win, and the bettor thinks that team will win, the bet can be placed at this price.
Bookmakers usually offer many markets for basketball. Some of the most common are:
Match winner
In this market, bettors bet on which team will win the game
Point spread
The weaker team starts with an advantage in points, and the bettor decides if the stronger team will still win after this adjustment. It is very similar to handicap markets.
Total points
In this market bettors bet if the total score in the game will be higher or lower than a set number. It is otherwise known as over/under market.
Bookmakers make the process of betting very simple. They take the bets, accept the stakes and they pay the winnings if the bet is correct. However, bettors cannot set their own odds. The prices are only what the bookmaker offers and in them there is a small percentage included which is called margin.
Basketball Betting with Betting Exchanges
Betting exchanges are different from bookmakers. In an exchange, bettors place bets against each other instead of against the company. The exchange only takes a small commission only from winning bets. Bettors can bet on things to happen and things not to happen. They can also offer their own odds and wait for other bettors to accept them. This gives more control and often better prices.
On a betting exchange, there are two ways to bet: back and lay. Backing a bet is choosing a team or event to happen, just like with a bookmaker. Laying a bet is betting against a team or event. For example, laying a team means betting that this team will not win.
This system makes basketball betting more flexible. Bettors can act like a bookmaker by offering their own odds or they can take the odds already offered by others.
The Most Common Basketball Bet Types
The most common and simple bet types in basketball betting are match winner, point spread, and total points. These bets are available both with bookmakers and on betting exchanges.
Match Winner on Betting Exchanges
In a game between two NBA teams, a bettor wants to back a team at odds of 2.00. Another bettor thinks this team will lose the game, so they lay the team at odds of 2.00. This bet is matched. If the team wins, the back bettor wins. If the team loses, the lay bettor wins.
Point Spread on Betting Exchanges
In the same game, in the exchange a -5.5 points at odds of 1.95 is offered for the same team. This means that the team must win by at least 6 points. If a bettor backs this and the team wins by 6 or more points, the bet wins. If the team wins only by 5 points or less, the bet loses.
Total Points on Betting Exchanges
If the total points line is set at 210.5, bettors can back over this number or under it. They can also lay these options. For example, if the final score is 112-108, the toal points are 220. The back bettors who backed the over 210 points will win the bet. The lay bettors who laid the over 210.5 option, will lose the bet. If the final score is 100-98 the toal points are 198. Whoever backed under 210.5 will win. Whoever laid over 210.5 will also win.
Differences Between Bookmakers and Betting Exchanges
There are a few key differences between betting exchanges and bookmakers in basketball betting. Both options are popular. Many bettors like to use both, depending on the type of bet and the odds available.
Bookmakers set the odds, while betting exchanges allow bettors to set or take odds. Betting exchanges allow laying bets, which means betting against an outcome, while this is very rare in bookmakers. Bookmakers are often easier for beginners, but betting exchanges can offer better value.
In Short
Basketball betting is an easy way to spice up the sport. It can be done with bookmakers where the odds are fixed or on betting exchanges where bettors compete against one another. The most common bets such as match winner, point spread and total points are simple to understand and can be used in both systems. With clear rules and many options basketball betting has become a favorite for sports fans all over the world.