12 Tips for Success in Basketball Betting
Betting on basketball is the most popular way to gamble on the sport, and for a good reason. The NBA has revolutionized sports betting by switching to a legal model to invest your hard-earned money in games without fear of being arrested. And while these changes haven’t stopped all the illegal betting that still goes on, it has assisted in making it far easier to do so legally than ever before.
Why do people place bets?
A lot of sports bettors want to generate additional income with their actions. If they’re going to take the final leap, they will have to start betting on basketball. This will help them generate much income in a short amount of time.
When you place a bet, you need to consider that it’s not going to be easy to make money overnight. You need to make sure that you are taking steps towards earning this money and ensuring that it isn’t going out just as fast as it comes in.
When it comes to basketball betting, you need to keep in mind that your initial investment can be very cheap. The reason is that basketball betting isn’t too popular in the U.S., so you don’t have to spend much money making a living wage. By using these tips for betting on basketball, you will be able to start off with a relatively small amount of money and work your way up from there.
If you’re looking to make some money betting on basketball, here are 12 tips for success.
1. Be aware of how betting odds work
When you place a bet with a sportsbook, the way they give you your odds is very important. Sportsbooks will often use the money line, essentially saying that the money you bet will beat the team laying points, but losing money means that the team laying points will win. For example, if you bet $100 on a team and win by 2 points, your $100 would give them a point and gain them one point. On the other side, they would lose $100 and lose two points.
2. Consider making live bets
One of the best things you can do with a small stake is to make live bets. If you win those bets, it will add up, but you have to consider that you’ll also get your bet back if the team wins. That’s why live betting is so popular amongst many sports betters. It allows them to cover any potential costs in case of a tie or even a missed shot.
3. Think about ‘unit sizing’ (betting increments)
Many people will only bet on games that are close when it comes to deciding a winner. This is a mistake, as you need to consider that there might be a bigger deficit than you expected, which means that you can win a bit more money. If you can’t stomach the idea of betting on games that have more than a double-digit deficit, consider setting your betting increments to target wins by 5 points or less.
4. Avoid ‘in-play’ bets that involve a toss-up result
This might lead to a lower ROI due to the risk involved with placing these types of bets. For example, if you bet on a team to win by 1 point, then they lose by 2 points, you’ve lost $100 even though you’ve only bet $100.
5. Know your team’s schedule and opponents
If you know that a team will face off against another team that they usually beat, it might be a good idea to make your bet beforehand. This way, you can avoid the possibility that the team loses due to something else they’re dealing with.
6. Check out the stats before placing a bet
Before you decide to make a bet, you should check out the statistics for that team. Are they slightly overperforming, or are they underperforming? You might want to head out and place some more bets when this happens.
7. Do your homework when it comes to handicapping
If you’re trying to make money with basketball betting, then you should know about betting odds as described above. With handicapping, you need to use your judgment and experience. If you look at the current stats for a team and notice that they are looking a little overmatched, consider making a bet on them just so that you can protect the amount of money that you’re planning to risk. For all the fans, you’ll be happy to know that there are numerous betting opportunities, not only in professional teams but collegiate ones as well. By using sports information resources like Doc’s basketball picks, you’ll be able to make the best picks and enjoy your betting while making a profit.
8. Get ready for a few upsets
Just because the sportsbook favors a team, this doesn’t mean that they will win. That’s why you need to make sure you have your wits about you and know how to protect yourself when it comes to a few blowouts. For example, if a team is facing off against a fragile team, they might beat them even though they’re favored.
9. Stick with your team’s wagers
As a basketball bettor, it’s important to stick with your team. Not every team is good at betting, but you should always try and bet with the same team. You might not win every time, but at least you’ll be able to cover your bets.
10. Don’t bet in the last couple of minutes of regulation time!
The thing about money line betting is that you can’t change your bet until the team wins or loses. If you win on a team, the money they would lose is essentially taken out of your pocket. So what does this mean? It means that you should wait until there are about 5 minutes left in the game before placing a bet.
11. Need a little extra cash? Betting pools are easy to get into and win big!
If you’re signed up to bet on a sportsbook, like for example bet365, then you might already have an account setup. If not, then it’s very easy to sign up. If so, get in the habit of putting money in with your favorite team or players and then using that money to make bets on games so that you can win more cash. Always remember that if you win a couple of bets in a row, this will add up and make it worth your while to continue wagering.
12. If you want to earn additional income, try handicapping
If you’re looking for ways to make extra money with basketball betting, then look no further than handicapping. If you know about brackets, you can use that knowledge to help match up teams in your pool.
Why should you follow these tips for betting on basketball?
Well, they will give you an advantage over other sports bettors when it comes to earning more money.
You should always keep in mind that the goal of sports bettors is to win as much money as possible. You should also understand that different sports have different odds. For example, it will be cheaper to bet on the MLB than it is with the NBA. Using these tips for betting on basketball may allow you to take advantage of these scenarios and make some extra cash when you bet on basketball.
Final Thought
If you’re looking to make a living wagering on basketball, then these tips should give you an edge over other bettors. It’s always important to keep in mind that the goal of sports betting is not only to make as much money as possible but also to have fun!
You don’t have to bet the maximum amount every time, remember to gamble responsibly. The ball is in your court now!
