The National Basketball Association have agreed a $24million three-year basketball sports betting deal with MGM Resorts International. The sums involved are not particularly large but it is a significant step by the NBA towards embracing the new era of legalised sports betting.
It is anticipated that fourteen American states will have legalised gambling within the next two years and MGM have moved quickly to establish a foothold in the market. The partnership between the NBA and MGM is expected to be only the first of a series of agreements between major sports leagues and leading sports betting firms. With the knock-on effects likely to include a boom in betting on the sport, we have previewed the leading exchanges and selected the top five basketball betting sites for sports trading.
As industry heavyweights, you would expect Betfair to be out there in front with their Basketball coverage and they do not disappoint. A click on the Basketball link brings up an extensive range of matches from the NBA to the Euroleague and top leagues in Spain, France, Germany and Italy.
The NBA does not get under way until October but you can already start betting on the opening fixtures and the NBA Outrights. There are separate markets for all NBA Divisions, the Eastern Conference and Western Conference, Regular season MVP and Rookie of the Year. Betfair provide game markets on moneyline, handicap and total points.
Betfair are currently offering up to £100 in free bets to new customers. Existing customers who are yet to place a bet on the exchanges can claim a free £5 bet. Simply opt in, place your bet and they will refund your stake if you lose.
You can compare Betfair to other betting exchanges here.
Matchbook also have an outright winner market open for the NBA Championship and have already attracted a greater volume of bets than Smarkets. At present that is their only available Basketball market so it remains to be seen how extensive their coverage will be in October. The user friendly layout of the site and recent promises of expansion of their sports coverage certainly bode well.
You can currently enjoy commission free betting when you join Matchbook until the end of 2018. The commission rate in the New Year will be no higher than 1% which is the lowest available anywhere at present.
Smarkets does not have a dedicated basketball betting section but the current markets can be raised by using the search button. They, like Betfair, have anticipated the start of the NBA and do at least have an outright market on the Championship.
Smarkets also cover other events, such as the International Asian Games (both Men and Women’s events). The volume of betting is low but Smarkets are at least dipping their toes in the market. New customers can claim a free £10 bet when they deposit at least £20 into their new account.
Sporting Index do provide betting on Basketball but they have only limited coverage. Their current advertised event is the WNBA with seven markets on each game. You can bet on the half and quarter markets i.e. first half or first and second quarter points per team. Sporting Index do offer new clients a £50 non-withdrawable cash bet which must be used within seven days.
Spreadex is also lagging well behind Betfair in terms of its Basketball coverage. It does have a dedicated section but matches are thin on the ground. A simple click allows you to switch between spread betting and fixed odds. The fixed odds markets are the traditional handicap, match odds and total points. For spread betting purposes, Spreadex provides total points, team points and supremacy/supremacy plus markets.