How to bet on basketball

Are you curious to learn how to bet on basketball but don’t know where to start? You’re in the right place. This guide is designed for anyone who wants to get into basketball betting without feeling overwhelmed. Whether you’re an NBA fan or just someone looking for the excitement of March Madness, we’ll break it down in simple, easy-to-understand steps.

By the end of this article, you’ll learn:

✔ The different types of basketball bets you can make

✔ How to bet on NBA games with confidence

✔ Tips for making informed betting decisions

Where can I bet on basketball?

If you’re looking to add some extra excitement to the game and start betting on basketball, you may be asking where you should bet. PlayNow Sports is Manitoba’s home for local, legal and secure betting to wager on basketball and all sports.

Plus, when you sign up and place your bets at PlayNow Sports, the revenue generated from online gambling stays right here in the province, supporting many provincial and community organizations, including education and health care.

Every game has a half-time. Take a break from gambling when you need it, too. Learn more about ways to manage your play with GameSense.com.

Basketball betting markets

Betting on basketball isn’t as complicated as it might seem at first. There are several different types of bets you can place, and each one adds a little something different to the game.

Money line

This is the simplest way to bet on basketball games. You’re just picking which team you think will win the game. If your team wins, so do you. The odds will determine how much you win. For example:

If you wager $10 on a Toronto Raptors win against the L.A. Lakers at odds of 2.36, here’s how it works:

A Toronto win would give you a total potential payout of $23.60.
Your original bet of $10 is returned, plus your winnings of $13.60 (10 x 2.36 = 23.60).
This means you would profit $13.60 from your $10 bet.

The money line bet is perfect for beginners because it’s straightforward—you just need to pick the winner.

*Team cities and odds mentioned are for illustration only

Point spread

In a point spread bet, you’re betting on how much a team will win or lose by. If a team is listed at -5.5, that means they need to win by at least 6 points for your bet to pay off. If you bet on the underdog at +5.5, they can either win the game or lose by 5 points or fewer for you to win. For example:

Let’s say the Vancouver Bandits are listed as -5.5 favourites against the Edmonton Stingers, and you place a $10 bet on them.

For your bet to win, the Bandits must win by 6 points or more for your bet to win.
If the Bandits win by exactly 6 points, your payout would be based on the odds.

On the other hand, if you place a $10 bet on the Stingers at +5.5:

The Stingers can win the game outright or lose by 5 points or fewer, and you’ll still win your bet.
If the Stingers lose by 6 points or more, your bet would lose.

Point spread bets make games between unevenly matched teams more exciting.

*Team cities and odds mentioned are for illustration only

Over/Under (Totals)

In this bet, you don’t have to pick a winner. Instead, you’re betting on the total score of both teams combined. Will it be over or under a certain number? The total is set at a certain number, and you’re betting on whether the combined score will be over or under that number. For example:

The Winnipeg Sea Bears are playing the Saskatchewan Rattlers and the total is set at 210.5 points. Let’s say you bet on the Over at 210.5 points with a $10 wager at odds of 1.90:

You win your bet if the combined score is 211 points or more.
In this case, your total potential payout would be $19 (your $10 bet + $9 in winnings).
Alternatively, if you take the Under and the combined score is 210 points or fewer, you win the bet.

Over/Under bets are a great way to keep the game exciting, especially when you don’t want to pick a winner.

Parlay bets

With a parlay, you can combine multiple selections into one bet. All of your selections have to win for the parlay to pay off. It’s harder to win, but the payouts can be higher.

Let’s say you place a $10 parlay bet on three different outcomes:

Raptors to win at 2.00 odds,
Over 210.5 points in another game at 1.90 odds,
and the Bandit to cover the spread at 1.85 odds.
If all three bets win, your total potential payout would be $70.30 (10 x 2.00 x 1.90 x 1.85 = 70.30).

If even one bet loses, the entire parlay loses, but if you win, the payout is much higher than individual bets. A regular parlay combines bets from different games or events, whereas a Same-Game Parlay (SGP) allows you to combine multiple bets within the same game. For instance, you might bet on the Bandits to win, a specific player to score over a certain number of points, and the total points to go over a set number—all within one game.

If you want to place a same-game parlay bet, it isn’t as simple as multiplying the odds for each leg since these are related outcomes. One event happening will directly impact the price of the other.

Proposition bets (Prop bets)

Prop bets are fun! Instead of betting on who wins the game, you’re betting on specific events. In prop bets, you can bet on how many points a certain player will score or how many three-pointers an individual player will make in a game. For example:

You place a $10 prop bet on Scottie Barnes of the Toronto Raptors to score over 20.5 points at odds of 1.80.

If Barnes scores 21 points or more, you win your bet.
Your total payout would be $18 (your $10 bet + $8 in winnings).

Alternatively, you might bet on Shai Gilgeous-Alexander, a standout Canadian player, to make over 2.5 three-pointers in a game. Prop bets are a great way to add excitement to a game, even if you don’t want to bet on the outcome.

Futures bets

Futures are long-term bets. Instead of betting on a single game, you’re betting on something that will happen in the future, like who will win the NBA championship. These bets can be placed at any time during the season. For example:

You place a $10 bet on the Toronto Raptors to win the NBA Championship at 15.00 odds before the season starts.

If the Raptors win the championship, your total potential payout would be $150 (your $10 bet + $140 in winnings).

Live/In-Game bets

Betting while the game is happening? Yes! Live betting allows you to place bets during the game, which can be pretty exciting as the odds change in real time depending on how the game goes. For example:

During a live Raptors game, you place a $10 bet on them to win when they’re down by 5 points, at odds of 2.50.

If the Raptors come back and win, your total payout would be $25 (your $10 bet + $15 in winnings).

Live betting can add an extra layer of excitement as the action unfolds, but be sure to keep an eye on the odds as they can change quickly based on the action on the court.

How to bet on NBA games and more

The NBA is one of the most popular leagues to bet on, and for good reason—it’s fast-paced, with plenty of action. But before you jump in, there are a few key things you should know about betting on NBA games.

Follow the schedule

Did you know NBA teams play an 82-game regular season? That’s a lot of basketball! The schedule can impact how a team performs. Teams often have to travel a lot, which can make them tired. A team playing its third game in four nights might not be as sharp as usual.

Watch for injuries

Basketball is a team sport, but one player can make a huge difference. If a star player is injured, it could dramatically change the outcome and the odds. Before placing your bet, always check the injury report!

Check recent performance and trends

How has the team been playing lately? Are they on a winning streak? Or are they struggling? You can view the latest stats, trends, injury reports, and NBA standings to help inform your bets at PlayNow Sports.

Staying updated can help you understand your bets and make the experience more exciting. However, it’s important to remember that in basketball, anything can happen—past performance is not always an indicator of future results.

Basketball betting tips for beginners

If you’re learning how to bet on basketball, here are a few tips to help you get started!

Know the game

Watch basketball games, follow teams, and learn the rules. The more you know about the sport, the more informed your bets will be. For starters, keep an eye on the Toronto Raptors, Canada’s only NBA team. In Canada, Raptors games are frequently televised and have a passionate fanbase, making it easy to stay up to date.

Study the odds

Odds initially seem confusing, but they’re simple once you understand them. Odds show you how much money you can win based on your bet. PlayNow uses decimal odds as the default, which makes it easy to calculate potential payouts.

Bet with your head, not your heart

It’s tempting to bet on your favourite team, but that’s not always the smartest move. Be objective. Look at the stats, the trends, and the odds before placing your bet. Betting with your head, not your heart, will help you make better decisions.