How to Bet on Basketball
Betting on basketball is by no means easy. Whether you're betting on college basketball, March Madness, or the NBA, there are challenges you will encounter. But there are strategies you can employ to make it a very profitable endeavor for both casual and experienced bettors alike. Here is a handy guide to betting on basketball, filled with tips and important things to remember before placing your bets.
Choose Your Basketball Games Wisely
The prospect of betting on basketball can be an exciting one, and one of the reasons is the large number of college basketball and NBA options at your disposal seemingly every single day. However, it is better to stick to one area of the sport that you know well rather than overextending yourself and betting on games that you have little to no knowledge of.
This is the key to sports betting in general, but especially applies to basketball. Say, for example, that you went to school at a mid-major college basketball conference and have a vast knowledge of the teams and coaches involved in that league. Focusing your basketball betting on that conference would be more beneficial than chasing action on every conference, including ones you were unfamiliar with. The same can apply to conferences in the NBA, or to specific rounds of March Madness that you have familiarity with.
Manage Your Bankroll
Bankroll management is the most important part of all sports betting, and that importance extends to basketball betting as well. If you are responsible with your finances while betting online, just like in any other aspect of life, you will give yourself a clear path to success.
Many less experienced sports bettors follow up their losing bets with bigger bets, in an attempt to regain what they lost with their previous selection. That practice is known as tilting, and is the easiest way to make a small loss into a big loss and force you into the need to reload your account. Instead of putting yourself at risk by tilting, set a percentage of your bankroll to wager on each game, and stick to it. Having wagers of a consistently sized unit makes the skill of the bettor the star of the show, rather than needing to hope that your large sized bets outperform your smaller ones.
Use Statistics Wisely
Using statistics to your advantage is essential to success when betting on basketball. That is a given, but the key isn’t just to use statistics to win. The key is to know which statistics are valuable and which statistics you can ignore to efficiently use your time and properly analyze as many games as possible to maximize profits.
For example, in basketball, many inexperienced players cite points per game statistics when making their selections, even though that statistic relies on so many other factors, such as the quality of opponent, the number of times a team is sent to the free throw line, and how many offensive rebounds a team grabs in each game.
Instead, it would be smarter to look at stats such as rebounding, free throw shooting, and strength of schedule individually, to get a better idea of what is contributing to a team's success on the floor. What sets the best basketball bettors apart from the rest of the pack is their ability to judge which stats are more important than the others.
Don’t Be Emotional
You might be a huge fan of the New York Knicks. You watch all of their games, and listen to podcasts about them, and you just can’t get enough of the New York Knicks. There’s certainly nothing wrong with that, but there is when you bring that love of your team into your NBA betting.
While there’s nothing wrong with wagering on your favorite team, it’s unrealistic to expect to have a neutral and unbiased view of that team or the one they are playing against. It’s just human nature to expect more of the team you identify closely with, and that’s why staying away from your favorite team’s games is usually the smart thing to do. That’s why professional bettors either stay away from their favorite teams or don’t have favorite teams to begin with.
If you follow the above pieces of advice, you will be well on your way to building a nice bankroll by betting on basketball online.
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