Betting Tips for the NBA

While we wait for LeBron James to announce where he is going (or if he is staying), we can take the small break between seasons to study the strategies needed to earn money in the NBA. First and foremost is figuring out the value bets for the NBA. Your value bet is a bet you make where you think the outcome is greater than the probability in the odds you have available to you. For instance, a game between the Lakers and the Rockets are offering 3.20 for the Lakers to win. This means there is a 31.25% more or less chance that the Lakers will win. If you believe that the chances of the Lakers to win the game against the Rockets are more than 31.25%, then the 3.20 odds are a value bet.

This is not a foolproof way to win every single game in a given NBA Season, of course. There is no secret strategy that will give you 70% and higher on your strike rate for your bets. So you rely on the value bets, your instinct, common sense, and your knowledge about the NBA.

The NBA has a lot of games, with a lot of betting options made available. And you should not bet on every single game if you don't find a value bet. Unless of course, you have figured out how to become a successful bookie, then you can be a great bookie every single game.  The good thing about figuring out value bet is that it can be easier to figure this out over time. So you will eventually learn when it is smart to bet, and when it is not worth it.

Your knowledge of the sport will help you a lot when betting for the NBA, but knowing what team will more likely win isn’t the sole factor in betting for basketball. You will need to understand how betting in the NBA works and then add up what you know about the sport. So yes, you know that the Lakers will win, but do you know if they will win enough points to make you win your bet?

An easy way to ease yourself into betting for the NBA is to bet for the teams you know well. You know their scoring abilities, you know how they perform home versus away, or how they measure against a more defensive team. So factor that in and see if the odds are going to win you money.

There are more than a dozen betting options for the NBA, but you are better off starting with the 3 most popular options: Point Spreads, Moneylines, and Point Totals. Figure out where you are good at, and try to stick to it until you are more comfortable exploring other betting options.

And while you are at it, keep notes. This is not a joke. Make a spreadsheet or go old-school and buy a notebook. Keep track of the date, your bet type and details, bookie, your bet, odds, profit and other information you think is important. Any business that operates keeps track of its expenses and profits and measures what makes them successful. Do the same with sports betting. Use the information you have to figure out where your strengths lie as a bettor and see where you can improve more.

Lastly, manage your money. We cannot stress it out any more than we have: do not bet money you don’t have. This is not a quick-rich scheme or a last-ditch effort for big money. Going into sports betting for that reason, and without sound logic will get you betting without thinking about your strategy. Smart management of money is very important. A great tip from experts is to set an amount you are willing to spend for a particular season or time frame. From there, look at how many games you can bet on or how much you can spare for each game. Stick to the budget, regardless of wins or losses.

And before we end this post, here are a few gems when figuring out where to bet on and how much: look if your team is home or away, and use the home court advantage. Look at the roster and see if there are injured players and players coming off from the bench. Also, look at how their playing strategies work against potential opponents.

Remember, each team has 82 games. The regular season has 1,230 games. You have enough time and games to learn and develop your own betting style. There’s no rush.