The era of blockchain is on the rise, and so are the BTC sportsbook and Litecoin betting platforms. Following the fast pace of the gambling industry revolution, many sports betting services have expanded the range of currencies they cover with a primary focus on Bitcoin betting. These days, sports fans from any country of the world can pick a cryptocurrency sportsbook of choice. Whether you are up to NBA, MLB, MMA, NFL, or NCAA – the Web is choke-full of sportsbetting platforms. But this time, we are going to get to the bottom of basketball bets. So, stay with us if you want to read NBA odds like a boss!
Sports Betting Basics & How They Apply to NBA
If you want to master the art of blockchain sports betting, you should realize that just as Rome was not built in a day, you will not probably make a lot of money at first. To make your endeavors fruitful, you need to study the odds and figure out how the betting lines work. You also can’t do without the knowledge about the typical bets and should differentiate the notions of ‘underdogs’ and ‘favorites.’ Now, to help you get versed in the industry faster, we’ll start with the typical bets you are likely to come across at any given cryptocurrency sportsbook.
NBA Odds & How To Understand Them
It is, perhaps, the type of bet preferred by the most significant part of BTC sportsbook users. Many bettors wager the moneyline because it’s convenient and easy. With this sort of bets, nothing else matters except for the outcome. Now, let’s learn to read the NBA odds.
For example, you see the following (the numbers are random):
Indiana is a favorite here, meaning this team is predicted to win. If you want to try your luck, you’ll have to wager the full amount – $135 – and in case of success, you will win $100. Denver is an underdog, which means your stake wins if this team loses the match. To qualify for winning, you need to place a bet of $100, and if the team loses, you will get $200.
Despite the seeming simplicity of sports betting, keep it cool and do not risk all your money at once. You still need some practice before placing any high stakes.
– Point Spread
Newbies, watch out as this type of bets is not for everyone! The point spread is about making bets on the winning margin of victory, meaning you need to guess who wins the game and by how much. Let’s take a look at the example above one more time and learn to read different types of the NBA betting lines.
Similarly to the previous case, the signs “+” and “-” indicate the potential losers and winners of the matchup. If you bet on Indiana, then the team needs to win by more than 5 points to cover the spread and let you win your bet. In the case of Denver, they would have needed to lose by less than 5 points or win for you to regain the amount of your stake.
Sometimes the favorites win by exactly 5 points. What does it mean for a Bitcoin sportsbook user? The situation is called a tie or a push, and bettors usually get their money back. Sports betting sites tend to set the point spread on a decimal, e.g., -5.5.
Moneylines usually come with the spread, and it is harder to win in this case as you have to comply with the conditions of both moneylines and point spreads.
NBA Odds with Total Betting
Also known as over/under, this type of bet is placed on a cumulative outcome of the match. The points of two teams are combined, and the bettor makes a wager trying to predict whether the final total will be over or under the number stated on the sportsbook. If the final total happens to be the same as the sports betting site’s prediction, then all bettors are given their money back.