Well, well, well, Ohio sports bettors… it’s time for the NBA playoffs! This is the most exciting time of the year for basketball fans and for Buckeye State sports bettors, an opportunity to make some serious money.
However, betting on the NBA playoffs can be tricky, and you need to be strategic to make the most out of your wagers. So, without further ado, here’s how to bet on the NBA playoffs like a pro.
How NBA Betting Odds Work
For NBA bettors, understanding how odds work is essential. Odds determine the potential payout for a wager and represent the probability of an outcome occurring. Understanding how odds are calculated, including factors such as point spreads and money lines, can assist bettors in making more informed decisions when placing bets.
It’s also important for Ohio gamblers to understand how to convert odds to different formats, such as decimal or fractional, as different sportsbooks may use different formats. Overall, understanding betting odds is key to becoming a successful NBA bettor.
Example: Cleveland is playing the Knicks and -210 home favorites, meaning you’d have to bet $210 to win $100. The Knicks have a +205 moneyline, meaning a $100 bet would win $205.
What is Implied Probability?
Implied probability in sports betting refers to how likely a particular outcome is based on the odds provided by the Ohio Sportsbook.
In NBA betting, this means understanding what the odds represent in terms of the probability of a team winning or covering the point spread.
By assessing the implied probability, bettors can determine whether a particular bet is a good value or not and adjust their betting strategies accordingly.
To calculate the implied probability of a particular outcome in NBA sports betting, you need to convert the odds provided by the sportsbook into a percentage. The formula for doing this depends on the type of odds being used.
For American odds, you need to divide the odds by the sum of the odds plus 100. For example, if the odds are -200, you would divide 200 by 300 (200 + 100), which gives you 0.6667 or 66.7%.
By understanding how to calculate the implied probability of NBA sports betting odds, you can make more informed betting decisions and find value in the odds provided by the sportsbook.
Make sure to use sportsbook promos
If you’re looking to get into NBA betting in Ohio, you might want to take advantage of betting credits and sign-up bonuses. These incentives are offered by online sportsbooks to attract new bettors and can be a terrific way to build the Buckeye State gamblers’ bankroll.
Betting credits are essentially free money that can be used to place bets on NBA games, while signup bonuses are usually a percentage of your initial deposit that’s added to your account. Just make sure to read the fine print before accepting any offers, so you know exactly what you’re getting into.
The editors at OH Betting has compiled a comprehensive list of all sportsbook bonuses in Ohio including all bonus information and links to the Ohio sportsbook of your choice.
Betting Tips for the NBA Playoffs
Firstly, do your research. The playoffs are a completely different ball game compared to the regular season. Teams have had months to prepare and will bring their A-game to the court. Analyze the teams’ current form, head-to-head record, major injuries, and overall performance in the playoffs in recent years. The more information you have, the better informed your decisions will be.
Secondly, keep an eye on the odds. The odds for playoff games can shift dramatically based on injuries, team news, and public opinion. Be patient and wait for the best value before placing your bets. Don’t jump on the bandwagon just because a team is popular – you want to find the best value and the most favorable odds.
Thirdly, don’t ignore the underdogs. The NBA playoffs are full of upsets, and underdogs can be a smart bet. It’s not always the top-seeded team that wins – anything can happen in the playoffs, and you could win big by betting on an underdog. That doesn’t mean to literally play every underdog on the card, but if there is value in the underdog and your research warrants this, then don’t be afraid to take a shot.
Fourthly, consider the home-court advantage. In the playoffs, home-court advantage can play a significant role. Teams are often more comfortable playing in front of their own fans, and the crowd can give them an extra boost. Reserves traditionally play better at home than on the road–take this into account when placing your bets with the legal Ohio sportsbooks.
Lastly, don’t forget to manage your money. Bankroll management is the secret to sports betting success. A wise man once told me to think of my bankroll like a carpenter’s toolbox–if the carpenter loses their tools, they won’t work, and a gambler’s bankroll should be treated the same. A wise NBA bettor won’t risk more than 1-2% on any one wager and usually has a money management system based on 100 units.
New York Knicks vs. Cleveland Cavaliers
The Cavaliers are a -200 favorite to win the best of seven series beginning Saturday night at 6:00 pm at Rocket Mortgage Fieldhouse.
In order to win $100, the Ohio bettor would need to risk $200, and if the Cavaliers do indeed win this series, DraftKings will pay $100 + $200, and the sum of $300 should be credited to your betting account.
According to the odds, the Cavaliers have a 66.67% implied probability of winning this series over the Knicks.
The Knicks have some injury concerns heading into this series–Julius Randle missed the final two weeks of the season with an ankle sprain, and Jalen Brunson has been dealing with a nagging injury to his non-shooting hand.
Cleveland enters this series relatively healthy without any injury concerns to their star players.
New York won their season series 3-1 by a +14 differential and ended the regular season with a 24-17 away record. The Knicks are 5-5 over their past 10 and finished their 2022-2023 campaign on a two-game losing streak.
The Cavaliers had the 2nd-highest point differential in the NBA and rolled their way to a 31-10 record in the wine and gold, and finished the regular season on a 7-3 run.
Phil’s Best Bet Cavaliers to win the series -200 (DraftKings)
This should be a tough series, but I do believe the Cavaliers have the healthier team and home-court advantage and should win this series in seven games.
We should expect a low-scoring series–Cleveland has the top defense in the association, and the Knicks are 11th in scoring. Randle is the Knicks’ leading scorer, and they’ve struggled to score the basketball or defend without the big fella in the lineup.
The Cavs’ offense has been inconsistent at times this season, but their defense and rebounding make up for the poor shooting nights, and their defense takes care of the rest. Look for a hard-fought, home-and-home series with the Cavaliers advancing to the Eastern Conference semifinals.