NBA Betting Odds Explained
| Updated: November 10, 2025
Being one of the fastest-paced sports, basketball continues to capture the interest of people from almost every corner of the globe, with the NBA arguably being the most followed basketball league. As it turns out, the NBA has become a competition that resonates not only with a constantly growing number of fans but also with an increasing number of gambling enthusiasts.
Perhaps one of the main reasons the sport is so appealing is that its rules are straightforward, meaning you do not need extensive expertise to understand them. In addition, it is a high-scoring game that keeps gambling aficionados on the edge of their seats until the final whistle. The betting markets are also diverse, so there is something for both seasoned gamblers and complete beginners.
Chances are you have already realized that understanding how odds work is one of the cornerstones of becoming a successful NBA bettor. Therefore, gambling enthusiasts should make sure they fully understand what the odds indicate, otherwise they are more likely to reach unfavorable conclusions. The aim of this article is to give you a clear picture of NBA betting odds, even if you do not know the first thing about this form of entertainment.
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Basics of NBA Betting Odds
Needless to say, odds are an essential part of gambling, no matter what your sport of choice is for your betting session. This is why understanding their intricacies and how to use them is a must, especially if you will not settle for mediocre results.
Before we delve into how odds work, remember that there are three odds formats. For starters, most online sportsbooks let you choose between moneyline, decimal, and fractional odds. Gambling enthusiasts who have decided in favor of NBA betting need to know that for the most part, bookies present odds in the moneyline format, also known as American odds. This is not surprising because this format is used primarily in the United States. Still, many online sportsbooks also support the other formats, so it is beneficial to learn about them as well.
If you are ready to dive into NBA betting, remember that odds tell you how much money you can win if your wager is successful. In addition, odds indicate whether the wager you plan to place offers good value. Gamblers should keep in mind that odds reflect the perceived likelihood of a certain event. Therefore, the higher the probability of an outcome, the lower the odds. This makes sense because bettors should expect a higher payout when an outcome is less likely and a smaller return when it is more likely. It is vital to remember that the odds do not reflect the true chances of an event occurring. If they did, bookies would not make a profit.
You may also encounter the term “price” while betting on the NBA. It simply refers to the value of the odds. That is why a price can be either odds against or odds on. For odds against, the amount you risk is lower than the amount you can potentially win. Such wagers are riskier, but the potential returns are higher. When it comes to odds on, the amount you may potentially sweep will be smaller than the stake you have made, but your chances of winning are higher.
You can see why odds play an important role in NBA betting, so we will now explain the different formats.
American Odds
When it comes to NBA betting sites, the format you are most likely to encounter is the moneyline. Moneyline odds can be positive or negative, and their absolute value is always at least 100. A positive number shows how much profit you would make on a successful $100 wager. Conversely, a negative number shows how much you must risk to earn $100 in profit.
For example, if you bet $150 at odds of +125 and your prediction is correct, you will win $187.50. We get this result from a simple formula: original stake × (odds / 100). Use it when the moneyline is positive to calculate profit. To find the total payout, simply add the amount you originally wagered.
Calculating payouts with negative moneyline odds is also straightforward. Remember, do not include the negative sign in the calculation. To get your profit, use the equation: stake / (odds / 100). For instance, a $50 bet at odds of -200 yields a profit of $25. To find the total payout, add your initial stake to the profit. In other words, a winning bet would pay out $75.
Remember that +100 represents even money in this format. A negative moneyline indicates odds on, while a positive moneyline indicates odds against.
Decimal Odds
Although decimal odds are mostly used in Canada, Australia, and Europe, many NBA betting sites offer them alongside American odds. One of the main reasons bettors choose this format is that it is the most straightforward of the three. In this format the odds are expressed as decimals, and they are always positive. With decimal odds you can easily see the total return per unit wagered, and your total return includes your initial stake.
With decimal odds, calculate returns by multiplying stake × odds. For example, a $200 wager at odds of 1.50 would return $300. To find your profit, use the following equation: stake × (odds – 1).
In this format, 2.00 represents even money. If the odds are higher than this, the price is odds against; if lower, it is odds on.
Fractional Odds
Fractional odds are used predominantly in the UK, which is why they are also known as British odds. However, their popularity is waning as decimal odds gradually replace them.
One reason many basketball fans avoid this format is that calculating profit and returns can seem intimidating at first. As the name suggests, this format uses fractions such as 3/2, pronounced three to two.
This means you can win three units for every two you stake. The equation NBA bettors should use to calculate profit is: initial wager × (first number in the fraction / second number in the fraction). Therefore, staking $20 at odds of 1/2 would yield a $10 profit and a $30 return.
Problems arise with fractions like 2/3 or 4/7 because the calculations are slightly more complex. If the odds are 4/7, for example, you would win 4 units for every 7 you bet.
If the numerator is larger than the denominator, the price is odds against; if the denominator is larger, it is odds on.
What is Implied Probability
To improve your chances of becoming a successful NBA bettor, you need to understand the difference between probability and odds. Although they are related, odds do not necessarily reflect the true probability of an event.
You have probably heard many times that the house always wins. This is because bookmakers build a profit margin into their odds. As a result, if your wager wins, the payout is smaller than it would be with true odds. Bookies adjust odds on NBA events to guarantee a profit no matter how the game ends.
Probability is subjective, so your view of an event’s likelihood often differs from the bookmaker’s. Experienced NBA bettors estimate the true probability of an outcome to determine whether a wager is worthwhile.
In NBA betting, implied probability is the chance of a specific outcome expressed by the odds. Calculating implied probability helps you see the bookmaker’s edge in a given market. It shows whether the wager you plan to place offers positive value.
You can find implied probability with the simple formula 1 / decimal odds. It is worth noting that you need to use decimal odds when making these calculations. The values you obtain will range between zero and one. To make things clearer, multiply the result by 100 to convert it to a percentage. If your assessed probability is higher than the implied probability, you have found value.
Spotting the Best Value
You have probably realized that spotting value is a key skill for any basketball bettor. Although this may seem intimidating, several tips can help you find value bets.
When hunting for value, avoid simply following the crowd. In NBA betting, underdogs often provide value. This happens because bookmakers often underrate these teams. Remember, bookies always adjust odds in their favor.
If a team attracts overwhelming action, the bookie may shorten its odds. That shift can make the underdog’s odds more attractive, which is when you should act. Trust your informed hunches about underdogs from time to time. Of course, do not ignore heavy favorites either. Contrary to popular belief, heavy favorites can also offer positive value. The key is how the actual probability compares to the implied probability.
One of the best ways to improve your NBA betting results is to study up. If you want to find value bets, research every event you plan to bet on. Fortunately, plenty of information is readily available online. Pay special attention to team form, injuries, and so on, as this is the only way to ensure that your assessments are sound.
Bet on what you know. Understand the nuances of the sport and the competition, and you will be better positioned to spot value. When looking for value, try calculating the probability yourself before checking the bookmaker’s odds. This way, your decisions are not influenced by the posted odds, helping you remain objective about an outcome’s probability.
NBA bettors can often get better value, provided that they shop around. Always compare which bookie offers the best odds on the game you plan to bet. Even small differences add up over time.
What is Vigorish
Bookies do not offer truly fair odds, because otherwise they would not make a profit. They attain this profit by taking a certain cut from every wager. Therefore, when bookmakers set odds on an NBA game, they build in an overround. They also try to keep their books balanced. With balanced books, the bookmaker pays roughly the same total amount, no matter how the match plays out. Thus, if the odds on each team are 2.00 and each attracts $5,000 in bets, the bookie would have to pay out $10,000. In other words, the bookmaker would not profit at all. To take its cut, the bookie ensures it pays out less than it collects.
This is precisely where the vigorish comes into play. This term describes the commission the bookie takes from every wager. This is not an additional fee, though. Instead, bookmakers slightly reduce the odds. Returning to the example above, you would be more likely to encounter odds of around 1.90. If each team again attracted $5,000 in bets, the bookmaker would pay out $9,100. The $900 difference represents the vigorish, regardless of which team wins.