NBA Odds: Calculating Probability of Winning
When it comes to calculating the probability of a team to win â there isnât really a rule for American odds because it is one of the newer odds formats, so to calculate your probability of winning your bet, you will need to convert your odds to decimal.
- For positive odds (underdog NBA odds) letâs say +200: 1 + (odds / 100) = 1+(200/100) = 3.0
- For negative odds (favored boxerâs odds) -200: 1 â (100 / 200) = 0.5
Now that you have your decimal odds, we can help you calculate your winnings and implied probability:
Decimal NBA Betting Odds
Decimal NBA odds are way more common in European countries, but in the United States, itâs way more common to use American â for obvious reasons. Itâs easier to calculate your American odds by converting them to decimals, especially when trying to calculate the probability of winning.
To calculate your potential winnings when using decimal odds, you need to take your odds, multiply them by your stake, and then subtract the stake.
- 3.0 odds would be calculated as (3.0 * $10) â $10 = $20 in winnings
- 1.25 would be (1.25 * $10) â $10 = $2.50
To calculate your implied probability of winning, you will need to divide 1/decimal odds which is 1/ 3.0. This gives an implied probability of 3.33%. Implied probability is an important part of your NBA betting strategy and will help you improve your chances of winning in the long term.
Fractional NBA Betting Odds
This is where your grade school math class can come in handy: in fractional NBA betting odds. If you see a fractionated number, like 10/1 on the odds board, this means a team has a ten to one chance of winning the game. This way, you can also calculate their probability of winning â from the fractional NBA odds.
The formula looks like this: B/(A+B) = %
For example, if the NBA betting odds are set for a game and the team has 8/1 odds to win, there is an 11% chance they will win the game.
1/(8+1) = .11 (11%)
Or, if a team has 1/4 odds to win the match, that can be calculated like so â 4/(4+1) = 0.80 (80%) This team is favored and will likely win the game.
So, how much will you win on fractional NBA betting odds? Itâs pretty simple â for every value on the right side of the fraction you wager, you will win the left.
So, 9/1 odds â for each $1 wagered, you will win $9.
1/4 odds â for each $4 wagered you win $1.
Top NBA Betting Options
Now that you understand basic odds calculations and can understand the NBA Las Vegas betting lines, we can look at a few of the top NBA betting options before you get started.
NBA Moneyline Odds
The most simple betting type you can lay down in terms of NBA betting is the moneyline. Itâs simple and easy to understand and great for new bettors. Your job is to determine which team will win the game â thatâs it.
If the Warriors and Lakers are playing, and their odds look like:
- Golden State Warriors -300
- LA Lakers +120
If you want to bet on the Lakers, you can calculate their probability like so:
1 + (odds / 100) = 1+(175/100) = 2.75
Now that you have your decimal odds, you will calculate your implied probability by dividing 1 /2.75 = 0.36 (3.6%)
Low chance of winning, but letâs calculate the winnings on a $50 wager.
(2.75* $50) â $10 = $87.50 in winnings
NBA Point Spread Odds
Point spreads are extremely popular in the NBA, and almost any of the main professional sports. Point spreads are intended to give the underdog an imaginary advantage or level the playing field in games that are one-sided. Your oddsmaker or sportsbook will decide who the favored team is, and determine the spread based on how those two teams match up.
The spread tells you how many points a team must win or lose by, depending on which side youâre betting on. If you choose the favorite, their spread will be a negative number, and they must win the game by that amount. If you choose the underdog, they must lose by less than that number or win the game.
The odds can be calculated like any other wager, most times the odds will be fairly low, as you took most of the risk out by choosing the point spread.
NBA Totals Odds
If youâre looking at the NBA basketball betting lines and you arenât leaning toward a particular team or just arenât familiar enough with one team or the other to make an educated wager, you can always bet the totals or the over/under as itâs commonly referred to as. Totals betting is very simple, and you donât have to choose one team over another â you simply have to decide if the total amount of points scored by both teams collectively will be over or under the oddsmakerâs line.
The totals will have odds like -110 attached to it, based on the bets coming in leading up to the game. The odds wonât stray too far from the -110 or -105 range as the totals bet is fairly safe, and way less risky than other options.
NBA Parlays Odds
Parlay bets combine two or more individual bets into one wager, allowing bettors to increase their potential payout. While the risk is higherâsince all selections must win for the parlay to pay outâsuccessful parlays can yield significant returns due to the compounded odds. This makes parlays an appealing option for bettors looking to maximize their winnings with a relatively small stake.
Example: If you place a parlay bet on three NBA gamesâbetting on the Lakers to beat the Celtics, the Mavericks to defeat the Heat, and the Bucks to win against the Bullsâyour payout increases significantly compared to placing each bet individually. If all three teams win, you collect a larger amount than you would from separate bets.
NBA Combos Odds
Combination bets, or combo bets, allow bettors to link multiple wagers into one. Unlike parlays, which require all bets to win, combo bets often allow for some flexibility, giving bettors the chance to win even if not all selections are correct. This type of betting can be particularly beneficial for those who want to hedge their bets while still pursuing larger payouts.
Combo bets can include a mix of different outcomes, such as betting on the spread for one game while betting on the total points for another. This flexibility allows bettors to capitalize on their knowledge of different aspects of the game, creating opportunities for profit across multiple betting types.
NBA Props Odds
Prop bets (short for proposition bets) focus on specific events or outcomes within a game, rather than the final score. These can range from individual player performances, such as how many points a specific player will score, to team-related milestones. Props add excitement to the betting experience, allowing fans to engage more deeply with the game.
For instance, you might bet on Luka DonÄiÄ to score over 30.5 points in a game against the Warriors. If he scores 31 points or more, you win the bet. Prop bets are particularly popular during playoffs and major events, as they offer a wide range of options beyond just the game outcome.
NBA First Scorer Odds
First scorer bets focus on predicting which player will score the first points in a game. This type of bet adds an extra layer of excitement to the opening moments of a match, as fans eagerly watch to see if their chosen player can make an early impact. Although it may seem straightforward, the odds can vary significantly depending on the player's scoring ability and role on the team.
Example: If you bet on Stephen Curry to be the first scorer in a game against the Nuggets, you win if he sinks the first basket, whether it's a layup, three-pointer, or free throw. This bet encourages fans to pay attention to the starting lineups and game dynamics as they try to gauge who might get that early scoring opportunity.
NBA Totals Odds
Totals (also known as Over/Under bets) allow bettors to wager on the combined score of both teams in a game. The sportsbook sets a line, and bettors choose whether the actual score will be over or under that line. This type of bet is popular because it focuses on the overall scoring environment of the game rather than a single team's performance.
Example: If the total for a game between the Miami Heat and the Atlanta Hawks is set at 210 points, you can bet on whether the final combined score will be more than or less than that number. If the teams score a total of 215 points, the "Over" wins.
NBA Spread Odds
Point spread betting involves wagering on the margin by which a team will win or lose a game. The sportsbook establishes a line that indicates how many points a favored team must win by to cover the spread. This type of bet equalizes the playing field between teams of differing abilities, allowing for more balanced betting.
Example: If the spread for a game between the Boston Celtics and the New York Knicks is set at -4 for the Celtics, they must win by at least five points for you to win your bet. If they win by four points or lose the game, the bet is lost. Point spread betting is particularly popular among NBA fans as it creates a more engaging experience for closely matched games.
Where to Find the Best NBA Odds
Finding the best NBA odds is essential for maximizing your potential payouts when betting on games. Several online sportsbooks consistently offer competitive lines and a variety of betting options. Reputable sites like BetOnline, Bovada, and BetUSÂ are popular among bettors for their extensive market coverage, often featuring better odds compared to smaller sites. These platforms not only provide odds for individual games but also include future bets on MVP races, playoff outcomes, and team win totals.
To ensure you're getting the best odds, consider using odds comparison websites that aggregate lines from multiple sportsbooks. These tools allow you to see where your chosen bets have the most favorable odds, helping you make informed decisions. Additionally, keep an eye on promotions and bonuses offered by various sportsbooks, as they can provide extra value when placing bets. By shopping around and comparing odds, you can enhance your betting strategy and increase your chances of success.
Top Online Sportsbooks for NBA Betting Odds
If youâre looking for the best NBA betting odds, look no further. We have a great selection of the top online sportsbooks that operate offshore, so they arenât illegal to use in the United States. Many people are fearful of scam betting sites or feel that offshore sportsbooks arenât legitimate, but we ensure that any sportsbook listed on OnlineSportsBetting is safe and secure.
Offshore sportsbooks provide the best NBA betting odds, superior NBA bonuses, and the best selection of props and futures for NBA betting.
To ensure you get the most out of your NBA betting experience, be sure to read plenty of sportsbook reviews, and only sign up at trusted sportsbook sites recommended by our experts at OnlineSportsBetting.
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