Basketball betting Odds explained with examples & bet guide
Basketball betting odds explained via W88 sportsbook examples by W88malayu experts. Bet on high odds to earn higher payouts with a minimum wager stake of RM05.
Basketball betting is something that is becoming popular day by day and so, if you are into gambling then this is one of the sports you should clearly place bets on to win more. But wait! how would you know whether you are placing the correct bets or not? Well, the betting odds are there for that and so to win more using low betting stakes on top sportsbooks like W88, take a look at this Basketball betting odds explained with examples article!
What are Basketball Odds and how are they calculated?
It is important for beginners to note, that no matter which sports betting you decide to play, the betting odds are of utmost importance that you should consider when placing bets because they are responsible for how much payout you will receive. This means that higher odds would pay more and lower odds would pay less for the same amount of betting stake.
Basketball Betting odds are given in sportsbooks by analyzing years of data of the teams in previous matches.
Thus, odds are predictions of how likely a team is bound to win the match, where lower odds are given to those teams that are more likely to win, while higher odds are given to the team less likely to win.
This means that if Team A is more likely to win, then they would have lower odds or less pay on their end, and if Team B is more unlikely to win, then higher odds or payout would be on their end.
The betting odds and betting stake together gives you an idea of how much payout you can receive if your bet wins using the formula Betting odds x Betting stake = Total Payout.
So, if you want to win big then you can take a big risk and bet on higher odds but if you want to win efficiently in small amounts then the lower odds are a good option to go with.
Note:It is a popular belief that high odds mean the chances of the team winning is high which is not true. What it means is that the payout you will receive would be high. While low odds mean that the chances of the team winning is high but the payout you will receive is low. For instance, higher odds pay more because if the team with high odds wins, then the gambles made on the team were of greater risk than betting on teams with low odds which were the ones most likely to win from the start.
3 main types of Odds in Sports Betting
In basketball betting, there are 3 main types of betting odds available that you should choose carefully. This is because as a beginner, you should not confuse yourself in the sportsbooks because which odds you select has a great impact on your gameplay. We recommend using simple Basketball Betting Strategies and the Decimal betting odds given in sportsbooks to play with.
Moneyline or American Odds
Decimal > Betting Odds x Betting Stake = Total Payout: Decimal odds are most commonly seen and higher recommended for beginners as here you can easily tell how much payout you can receive using the formula betting odds x betting stake = total payout in sportsbooks.
Fractional > Betting Stake x ( – / – ): Fraction odds are literally provided in a fraction making it slightly confusing for beginners to use. Here, you can tell how much payout you will receive with the formula betting stake (- / -) where – represents the first and second numbers of the fraction respectively.
Moneyline > Betting Stake x (Betting odds / 100): Moneyline bets are also known as American odds given to tell you how much you must bet by adding a – marking on favorite teams that are most likely to win or how much you will win by adding a + marking on the underdog team. Here, the payout is calculated using the formula Betting Stake (Betting odds / 100).
3 examples of how Odds affect payout in Basketball Betting
Now let us take a look at 3 examples to understand the above basketball betting odds explained as these examples would help you know how odds work in sportsbook and also about the payout predictions you can get based on the betting odds and stake you decide to wager. For each example below, we decided to wager the minimum betting stake of RM5 on 3 different betting odds under one main betting option.
Example 1: Wagered RM5 on Brooklyn Nets win by 1 to 5 @ 4.94
Betting Stake x Betting Odds = Total Payout 5 x 4.94 = 24.70
Here, the betting odds for the sub-betting option Brooklyn Nets win by 1 to 5 is 4.94, which is the least betting odds from the 3 examples. This means that the possibility of this case scenario occurring is high and so the payout you will receive is less than the others. Regardless, gaining RM24.7 as returns for a bet made of RM5 is a good deal!
Example 2: Wagered RM5 on Brooklyn Nets win by 11 to 15 @ 7.90
Betting Stake x Betting Odds = Total Payout 5 x 7.90 = 39.50
Here, the betting odds for the sub-betting option Brooklyn Nets win by 11 to 15 is 7.90, which is the possibility that could happen but also there is only a slight chance of it happening. This is why the betting odds are slightly higher than in the first example. For an RM5 bet on 7.90 odds, you can get returns of RM39.50 if your bet wins.
Example 3: Wagered RM5 on Brooklyn Nets win by 16 to 20 @ 12.00
Betting Stake x Betting Odds = Total Payout 5 x 12.00 = 60.00
Lastly, the betting odds for the sub-betting option Brooklyn Nets win by 16 to 20 is 12.00, which is the highest odds among the 3 examples. This means that the possibility of this happening is low and so, the risk taken to bet on this betting option is high, hence the payout you will receive is also high. Here for an RM5 bet you can get a payout of RM60.00 if this bet surprisingly wins!
Place bets on high Odds at W88 Malaysia in 3 simple steps
Now that you know what and how basketball betting odds work, let us move to the next section of this article where we give you a simple yet detailed betting guide of how you can use W88 sportsbook to gain more payout returns for betting on high odds. We selected W88 because it is one of the most beneficial betting sites for beginners where they can claim a W88 Promotion bonus of up to RM1,088!
Step 1: Log in at W88 to pick a sportsbook
The first that you must do to place bets on high betting odds for basketball games is log into your W88 account on the site by clicking on ‘Login‘ which will give you a pop-up box where you must enter your login credentials.
If you do not have a W88 account, then you can click on ‘Join‘ to create an account in under 3 minutes by entering the requested details accurately.
Once you have completed the signup process in the W88 Register, you can go ahead and click on or hover your mouse cursor over the ‘Sports‘ product on the W88 homepage.
This will give you access to all the sportsbooks on the site, so now pick your preferred sportsbook from these. Here, we decided to choose the e-Sports European sportsbook whose betting stake begins from RM5 only.
Step 2: Filter the Sportsbook for Basketball match Odds
In the next step, you will find yourself on the homepage of the sportsbook which will have matches from all sports with their betting options and respective betting odds. So, you must filter the sportsbook by clicking on ‘Basketball‘ on the left-hand side menu option.
As you can see, you can also filter out the sportsbook to select a basketball match based on country and league. Doing so would give you access to all the basketball matches on one page in the W88 Sportsbook.
Once done, you can click on the match you like and move on to step number 3. However, if you do not have a match you like then locate a match with higher odds and click on it on any of the main betting options.
Here we found a basketball match in the NBA league played between Brooklyn Nets and Atlanta Hawks where all the main betting options have interesting odds.
Step 3: Place bets on your preferred Betting Option
In the last section, you should find yourself on the page with all the betting option and their respective odds for the basketball match you selected. Here, you must find a main betting option and then click on your preferred sub-betting option.
The reason we are playing the main bets is that they have better odds whose outcomes are highly unpredictable so, the entire process becomes thrilling. But if you dislike the uncertainty, then you can use some Betting Tips for Basketball, or strategies to place accurate bets.
When you click on a sub-betting option, a bet slip will open on the right side of your screen. Here, you must enter the betting stake, and based on the betting stake and given odds, the payout returns you could receive if your bet wins will be shown.
To lock your bets for the match click on ‘Place Bets‘ and sit back to watch the match in anticipation of the results!
Here we decided to bet on the Spread or Handicap betting option for the Brooklyn Nets team that has a handicap -1 condition. We wagered RM5, the minimum betting stake, for the odds of 1.96 and if the bet win, we will receive a payout return of RM9.80.
Note:Since the Spread or Basketball Handicap Betting results alter the real match results based on the handicap and head-start given to the strong and underdog teams, for a -1 or +1 handicap condition with no decimal, the betting stake would be refunded if the team you wagered on wins or loses by exactly 1 goal, respectively.
2 Outcomes of the bet based on the Odds
In this last section of the basketball betting odds explained article, we will now look into the 2 possible case scenarios of the bets we placed above. Using this as a guide, you should be able to go ahead and place accurate wagers on the teams with high odds. Moreover, you can apply your own Basketball strategies to win higher payouts!
Wagered on Brooklyn Nets @ 1.96
Wagered on Atlanta Hawks @ 1.92
Betting odds: 1.96
Betting odds: 1.92
Betting stake: RM5
Betting stake: RM5
Payout if the bet wins: RM9.80
Payout if the bet wins: RM9.60
As mentioned above, the higher the betting odds the more payout you will receive even if you use the minimum wagering rate in the sportsbooks. But again, this does not mean that your bets will always win because the betting odds tend to change when the real match is played and so, it is important to use some of the betting strategies or techniques to analyze past match results for your bets to win.
For instance, in the handicap betting option, the stronger team we wagered on has higher odds to win, but since they have a -1 handicap the bets could go either way. Thus, in the end, if a team that is playing well has low odds at the beginner, wagering on them won’t be a bad idea but you must only do so after looking at their previous match results and concluding that they can provide desired results.
Conclusion
This was the Basketball Betting Odds Explained with examples from W88. Use these as your betting guide and go ahead and place bets in the sportsbooks of W88 Malaysia. With this, you can go ahead and place your bets in the sportsbooks of W88 or any online betting site. For more such explanations and updates on sportsbook offers, visit W88malayu, your online-friendly betting guide.
