NBA Basketball Betting With Bitcoins
NBA or the National Basketball Association is the most popular professional men basketball leagues in North America and probably in the world. The event attracts a lot of public so no wonder why online betting sites offer various NBA betting odds.
The betting odds of NBA vary from one Bitcoin sportsbook to another so in order to find the best ones do some line shopping and compare different NBA betting odds at different sportsbooks.
The most common lines of Bitcoin betting include totals, point spread and money lines and the same betting lines can be bet on NBA events. They will be explained in detail below. Continue reading to familiarize more with basketball betting using Bitcoins.
NBA and Bitcoin Betting
The National Basketball Association has 30 member clubs and it is a member of the USA Basketball that is recognized by International Basketball Federation, the national governing body for USA basketball. The NBA is one of the four big pro sports leagues in North America and its players are one of the best paid sportsmen in the world.
NBA was founded back in 1946 under the name of Basketball Association of America but it changed names in 1949 after it had merged with the National Basketball League. Thanks to its popularity, the NBA events are followed by many people from all parts of the globe and sport betting fans can bet on it with Bitcoins and other currencies at online sportsbooks.
To place a Bitcoin bet on NBA you should know how to bet on sports with Bitcoins in general because the process is exactly the same. You need to sign up with a Bitcoin sportsbook, make a Bitcoin deposit and pick the NBA line you wish to bet on. Then type in the amount of Bitcoins you want to use.
Types of NBA Basketball Bitcoin Bets
Now that you know how to place a Bitcoin bet on NBA, you should also familiarize yourself with the types of NBA Bitcoin bets:
– Point spread
– Money line
– Over/Under
– Futures
Point Spread
Also called NBA spread, it is the number chosen by odds makers that believe will encourage people to bet equally on the underdog as well as on the favorite. The favorite team has negative value, for example -7.5 and it is favored by 7.5 points so it must win by at least 8 points to cover the spread. The underdog has positive value (+7.5) and indicates an underdog in NBA of 7.5 points. In order to cover the spread it can lose by 7 points.
Money Line
Frequently used in baseball betting and hockey betting, NBA money lines have become quite popular specially in betting on the underdog. With this type of bet you bet on which team will win the game. Just like in point spread, the underdog has a positive value (for example, +180), while the favorite team has negative value (for example, -200). To make things easier, take number 100 in the middle of these values. For instance, if you bet on the favorite you must bet $200 to win $100. If you bet on the underdog, on the other hand, you would bet $100 to win $180.
Over/Under
Also known as NBA Bitcoin total bet, it is the number set by odds makers that predicts the number of points scored in an NBA match by both teams combined. Regardless of the number set by odds makers, you should understand the following: if you bet under 204.5, you hope the combined score will be less than 204. On the other hand, if you bet over the total, you need 205 points or more.
Futures
Another fun form of NBA basketball Bitcoin bet is betting on future outcomes or which team will win the upcoming NBA championship. These odds are updated during the entire year by online Bitcoin sportsbooks. If a team is a favorite, its odds will improve, while if a team has injured players, it will see its odds drop. For instance, the top favorite to win the championship may have 3/1 odds to win, while the last-place team might have 500/1 odds.