NBA Betting in New York
The NBA is the best basketball league in the world and attracts players from around the globe. Basketball is quickly spreading across the world and the best players are finding their way to the NBA, making for some great basketball.
Millions of people everywhere enjoy gambling on the NBA to add a little more action to the games. Before you make that step into gambling on the NBA, it’s important to be informed about all there is to know about how to best gamble on the sport.
This guide is going to cover everything from how to bet on the NBA, to where to bet, to a few betting strategies for gambling on the NBA.
How to bet on NBA games online in NY
Right now in New York, you can bet on NBA games at any licensed retail sportsbook in the state. These in-person gambling locations are the only options for New Yorkers at the moment, though online gambling doesn’t seem far off.
Still, online gambling is not legal at the moment in New York and it requires traveling to other states if gamblers wish to participate in it. So for now it’s only in-person gambling, although there are many different regulated locations.
Potential online sportsbooks for NY
Considering that online sportsbooks are expected to move into the market upon legalization, which doesn’t seem far away, it’s important to get to know the major sportsbook players. Here are the top potential NBA betting apps and betting sites coming to New York:
FanDuel Sportsbook app
FanDuel began as a daily fantasy sports company that was based in New York City. However, after a merger with Irish company Paddy Power Betfair, FanDuel released an online sportsbook in multiple states and it has been a successful venture for the company.
FanDuel Sportsbook is known to offer some good signup rewards, which often include risk-free bets for first-time users.
DraftKings Sportsbook app
Another company that began as a daily fantasy sports company and later expanded into sports gambling is DraftKings. It’s a strong and reputable brand that was started in Boston, Massachusetts, and is now available in many different states.
DraftKings Sportsbook is known for its boosted odds on certain selections where they offer stronger returns than usual that gamblers can take advantage of.
BetMGM Sportsbook app
MGM is a huge conglomerate that owns many different brands across all different types of entertainment so it’s not a surprise that they’ve expanded into sports gambling. They have a strong presence in Las Vegas with hotels and casinos there and now have brought their experience to the world of online gambling.
Because of their presence across all these different aspects of life one advantage with using the online BetMGM Sportsbook is the ability to earn reward points that can be redeemed for different prizes.
Golden Nugget Sportsbook app
Golden Nugget is an online casino that has a large presence in neighboring New Jersey. In fact, besides New Jersey, Golden Nugget is only offered in Michigan at the moment, which means that it has a smaller presence than the other larger brands on this list.
They offer a high first-time deposit match at the moment when compared to other online sportsbooks.
NBA basketball betting types
There are a variety of different bet types that are possible for NBA games. Let’s take a look at what you might be greeted with when you check your bookmaker.
Here we can see some of the basic bets for a game between the Brooklyn Nets and the Los Angeles Lakers. These three betting options pictured are the most basic. First up is the spread, which can be seen as +3 for the Nets and -3 for the Lakers.
The spread is a handicap that has been applied to each team by the oddsmaker. In this example, the Lakers would need to win by at least three points for a bet on them to win. Below that is the total. This represents the predicted combined score of the two teams by the oddsmaker and you can see here you can bet over or under 230 points. Last but not least is the moneyline, which is just a selection of a team to win the game. You can see the odds beside each bet listed in American style.
Besides these basic pre-game bets, there are other options to gamble on. Prop bets are wagers on smaller events within the game and listed below we can see player points as an example.
Each player will have a line for their predicted points for the game and gamblers have the choice of wagering on the player going over or under that line. These prop bets are available for all different types of small events within the game.
Also, futures bets are for gamblers who are looking to wager on events that are far away in the future. This example listed below is for the NBA Championship, which is one of the most popular futures bets in the NBA market. The potential returns are a bit large, which draws the attention of many gamblers.
Last but not least, parlays are an option for gamblers to combine multiple bets into one to chase a higher return. Because the bets are combined, parlay odds get multiplied and increase drastically. Different oddsmakers will have different ways of determining the exact odds to their parlay.
Listed above we can see an example of a parlay. The two selections are Detroit Pistons +5 and Oklahoma City Thunder +11 and they both need to win for this parlay to win.
How do NBA betting lines work?
The most common way that NBA lines are displayed is in American format and it’s easy to pick up with a bit of practice. The favorite or the selection that the oddsmakers think has the better chance of winning, will have a minus (-) sign next to their odds. This number represents how much needs to be gambled on that team to win $100. For example, the Lakers above have odds of -150 and thus $150 would need to be gambled on them to win $100, returning a total of $250.
The underdog will have their odds displayed with a plus (+) sign in front of them. This number represents how much a $100 bet would return. For example, the Nets have odds of +130 in the photo above. Thus a $100 bet on them would win $130, for a total return of $230.
The lines move before the game as the oddsmaker attempts to encourage equal betting on each side. They do this to ensure that they limit their liabilities as they don’t want anyone’s loss to be devastating to their business. Whenever you make your bet, that’s the odds that your wager will have. Thus knowing when to place a bet can be as important as the bet itself.
NBA live/in-game betting
One type of betting that is rapidly gaining popularity across the country is live betting. This means gambling on an event while it takes place, in real-time. Oddsmakers will offer many of the same bets that they do pre-game while it occurs.
The odds will change in real-time to reflect the ever-changing reality of the game. For example, if one NBA team scores, their betting odds will lower to reflect the higher chance of winning they now have.
Currently, in New York, you can only bet in-person and this makes for a clunky live betting experience. The odds move so fast that the in-person act of trying to make a bet can sometimes be too slow. When online sports gambling comes to New York it will make live betting much more convenient.
NBA futures and prop bets
Futures and prop betting are great ways to get in on the NBA action with more uncommon bets. These betting markets are often smaller and thus more of an edge can be found. Here are some popular examples of the two different bet types:
NBA Win totals
During every offseason, each bookmaker will release their win total numbers for each team for the upcoming season. For example, the line for the Los Angeles Lakers could be set at 50.5 and gamblers have the option of betting that the team will win over or under that number.
The NBA is split into six divisions of five teams. A popular futures bet is to gamble on who the champion will be of each division. Some divisions have clear favorites while others have many teams competing for the title.
NBA 3-point shootout
The three-point shootout is one of the most popular events at All-Star Weekend and for good reason. It puts all the league’s best shooters against each other to find out who is the best. Gamblers get the chance to bet on who will be the champion of the contest.
The NBA Draft is the highlight of the offseason for the NBA news cycle and the event offers many different gambling opportunities. Oddsmakers will offer a market for who will be selected first overall, as well as over/under for many of the top projected picks.
NBA Christmas Day games
Christmas day is a major day on the NBA schedule and it always features some marquee matchups. Not only is it an exciting time for the players to play on national TV, but it’s also an exciting time for gamblers as there are plenty of games to gamble on.
Is NBA betting legal?
Currently, in the United States, the laws on gambling on the NBA vary state by state. New Jersey has one of the more progressive sports gambling sets of laws and they have legalized NBA gambling both in-person and online.
New York has yet to legalize online gambling but gamblers can still bet on the NBA at the physical locations. For some, it may be easier to cross over into New Jersey and use their online gambling capabilities compared to traveling to a physical location.
Stay up to date with the news as online sports gambling continues to spread across the country so you’re ready when it arrives in your state.
NBA basketball betting tips
New to basketball betting? Here are some NBA betting tips to make sure that you can be as profitable as possible:
- Keep track of your bets: Keeping track of your bets is one of the best habits that any gambler can partake in. Categorizing your bets by bet type and keeping track will give you more insights so that you are more effective in your future gambling.
- Bet on teams you know: It’s a better idea to be an expert on a few teams than have a general knowledge of all the teams. Thus betting on teams that you know is a good idea so you can have a better idea of how that team performs and its ups and downs.
- Start with the basics: spread, moneyline, totals: A large number of gambling options available can be overwhelming for new gamblers. Focusing on the three-bet types that are mentioned above will help you not get overwhelmed and instead excel at the basics. These bets will allow you to hone your craft and get the basics mastered before moving onto more complicated bets.
- Use analytics and stats: Analytics and stats continue to grow in the NBA and they offer gamblers valuable insight into every team. Using stats can help you make more informed decisions before you gamble and help you be correct more often. There are a wide variety of stats and analytics that measure anything and everything and many can be found easily on the internet.
- What to look at: Injuries, home court, and situational advantages: These are some other factors that must be looked at when determining who is going to win an NBA game. Examining if any star players may be missing the game due to injury, which team is playing at home, and other external factors such as the race for a playoff spot is good investigative work to do before gambling on a game.
NBA betting mistakes to avoid
When people start betting on the NBA there are a few different mistakes that are quite common. Here are some of them outlined so that you can avoid them when you start your journey:
- Chasing your bets: Chasing bets is an extremely common mistake that many different gamblers make and it’s one that almost always ends in losses. This occurs when a gambler continues to up their bet size and makes riskier bets to try to win back lost profit. If you lose a bet, you shouldn’t try to worry about making that profit up right away. Trust in your system and you will make that money back in time.
- Betting with your heart: Many gamblers have a favorite team but sports gambling is not the time to play favorites. It’s important to have a clear head when making your decisions and to make sure that your bets are backed by statistics and reason instead of your heart. Thus you shouldn’t overrate your favorite teams or diminish the skills of a rival team. Make sure to do your best to have a clear decision-making process when making your bets.
- Betting every game: Many new gamblers will bet on every single game as they are overexcited, and they spread themselves too thin. Only betting on games where you have an edge over the sportsbook and where you can identify an advantage is a good strategy to make sure that you are only making strong bets.
Proven NBA betting systems
For those that are looking for proven systems that can help them make some money, here are a few that are popular among NBA gamblers and have a history of success.
- The High Totals System: The high totals system was created by Allen Moody who is a sports betting professional. This is a very simple system to follow and simply requires betting the over on any non-conference games where the listed total is 220 or higher. From 2004-05 to 2008-09 this system worked well, winning 63.5%. As the game moves to a faster pace, sportsbooks are starting to catch up but it’s still a strong system.
- The Blowout System: The blowout system is another easy system to follow and works by betting against home favorites who are favored by ten points or more and won their last game by at least fifteen points. It’s hard to destroy teams in the NBA and even harder to do it two games in a row. This system takes advantage of that fact. These home favorites only win around 42.5% of the time.
- The Bounceback System: The bounceback system works oppositely as teams that have poor offensive performances often find a way to bounce back the next game. To use this method, look for teams that have shot poorly from the floor or failed to score the ball well in the previous game and bet the over for their next game. More often than not, they find a way to get their mojo back.
- The Three-in-four System: The three-in-four system takes advantage of the scheduling quirks of the NBA to profit. It works by finding a team that is playing their third game in four nights and betting the over for that game. This is because when players are tired, their defense is the first thing that leaves them. This is a good concept to remember even when not betting within the system.
Last but not least, here are some of the most common NBA betting questions answered:
NBA Betting FAQ
If the over/under lands right on the total then this is known as a push. A push means that you’ve returned your stake and thus can be thought of like a tie. Pushes can happen in other bet types as well such as when betting the spread.
Yes, the overtime does count for the over/under in basketball. When gambling on basketball overtime stats count just as any other stat would for all bet types. This means that overtime can sometimes be a blessing or a curse for gamblers.
Second half NBA lines count only whatever action happens after halftime. This reduces the game to a smaller version and can allow for different bets to happen. Here’s one tip, teams with large leads at halftime often have much closer second halves.
Over/under lines are created in much the same way that any other gambling line is. They’re designed by oddsmakers at first as a prediction but as gamblers continue to bet the lines will move to encourage equal gambling on each side.
NBA spreads work by applying a handicap to the favored team. That team will then need to win by that many points, represented by a minus (-) sign next to their team name before the contest. The underdog team will then have to come within that many points for a bet on them to win.