Betting on basketball can turn out to be profitable if you know how to read the odds. While there are various types of odds and seeing as how basketball is an American sport, the most sought-after odds is moneyline.
Alternatively, you get the option of decimal odds that are largely popular outside the United States. Over time, they have gained popularity owing to how simple they are to understand, especially in the case of new gamblers.
On this page, we will explain the details surrounding betting odds in basketball and how to read them. We will also explain the intricacies of moneyline odds decimal odds, and many more.
So, stick with us till the end to get a grasp over the different odds types as well as the factors that play a role in understanding them.
What is Moneyline Betting in Basketball?
Moneyline odds depict the probability of a team winning a basketball game while reflecting the amount that you need to wager to win INR 100 or the possible payout.
This type of odds can appear as negative odds as well as positive odds, with them signifying the favorites and underdogs, respectively.
Let us take the example of a 3-way bet on a basketball match between the New Orleans Pelicans and the Memphis Grizzlies.
The match odds can be as below –
- New Orleans Pelicans: -150
- Memphis Grizzlies: +130
If you wish to bet on the Pelicans, you need to wager INR 150 to win INR 100. Alternatively, if you bet INR 100 on the Grizzlies, their victory can win you INR 130.
Simply put, if the odds are presented in negative, that is the amount you must bet to win INR 100, whereas if they are positively represented, they outline the potential profit on an INR 100 bet, in this case, an INR 30 profit.
Different Factors to Consider While Reading Basketball Odds
When it comes to reading basketball odds, several factors influence the figures. You need to take these elements into account before deciding where you want to place your bet.
Listed below are some of the key factors –
- Strength of the team: As a team goes into its next match, you must assess its strength while considering its current performance, records against its upcoming opponent, injuries, and future fixtures. Evaluating these aspects will help you calculate the odds closest to their value
- Player availability: Teams often change based on different reasons from match to match. In the list of players, you must look for any current injuries or possible changes in the team combination. Any significant injury or changes in player lineups is bound to affect the match odds
- Team Popularity: Teams that have a popular fan base might experience frequent fluctuations in their match odds due to the large number of bets placed on them
- Home advantage: Odds usually will favor the team that is playing on their home court. This is due to their familiarity with the surroundings and huge support from the crowd
To make well-informed decisions, you must remain up-to-date with the latest developments in basketball. Any lapse of information can reverse the fate of your wager in an instant.
An Insight into Decimal Odds
Now that you have understood what moneyline odds are and the different factors that affect them, it is time to understand what decimal odds are.
Despite moneyline odds being popular in America, decimal odds are gaining traction in the region owing to their ease of understanding and universal application. Let us see how they work with an example featuring the same teams as earlier.
In this scenario, letβs assume the odds on the New Orleans Pelicans are 1.80, whereas the odds are 2.25 for the Memphis Grizzlies. So, if you bet INR 100 on the Pelicans and they win, you receive a payout of INR 180.
This includes your bet of INR 100 and an INR 80 profit. If you bet the same amount on the Grizzlies and they win the game, you win INR 225, which includes your initial bet of INR 100 and an INR 125 profit.
With decimals in the picture, calculating the odds becomes easier, as all you have to do is multiply your stake with them and it will display the total return.
The Benefits of Using Decimal Odds for Basketball Betting
There are several advantages to decimal odds which is why the format is preferred worldwide by many bookmakers.
Here we list some of the key benefits of using decimal odds in basketball betting:
- Easy to use: Decimal odds are easy to understand and execute irrespective of whether you are a seasoned gambler or a newbie. They can help you to accurately derive the possible total payout on every bet wagered by you
- Transparency: Decimal odds directly represent potential returns, helping you understand how much money you can win exactly by betting a certain amount
- Universal acceptance: Decimal odds are prevalent in many countries around the world signaling their universal acceptance. Many online platforms, too, utilize them citing convenience as the main reason, while offering a similar experience across numerous markets
- Versatility: You can use decimal odds for various betting styles and strategies. They can take on different stake sizes, giving you the flexibility to adjust your bets according to your comfort
- Easy to compare: Since many Indian betting sites use decimal odds for representation, comparing them becomes easy for gamblers. You can get a clear idea of what the potential earnings could be, allowing sensible decision-making at your end
How to Choose Between Moneyline Odds and Decimal Odds?
At the end of the day, it depends on individual preference whether they choose moneyline odds or decimal odds. The main focal point between both odds is that decimal odds are easier for beginners to understand, whereas moneyline odds are better understood by advanced gamblers.
However, when it comes to basketball, it is best advised to go with the moneyline since the sport is American and the odds are in American format, too. Being in sync with the traditions makes the experience more enjoyable.
