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Why You Should Be Betting on NBA Awards

January 18, 2023
betting nba awards to make money

Today’s modern sportsbook has a wide range of betting opportunities for the smart bettor. It seems that each year, more choices are available.

This is true in the year-end awards markets in all the major sports. In the past, you could only wager on the most prestigious winners, such as the NFL MVP, the AL and NL Cy Young, and college football’s Heisman Trophy. 

Now that the books are much more imaginative and daring, there is a very good chance that you can place a wager on an annual award that previously wasn’t possible. NFL Comeback Player of the Year? NHL’s Lady Byng Trophy? There are plenty of awards futures in all the major sports. That includes the NBA.

Betting on these season-ending awards has benefits and drawbacks for bettors, just like many other prop bets and futures bets. If you have been following the NBA this season, you might want to take advantage of betting on NBA season awards.

 

Bet on NBA Awards, Get Large Payouts

The biggest benefit of betting season awards in the NBA futures market is the potential for some big payouts. It is difficult to pick award winners so far ahead of the end of the NBA season. It starts in October and the NBA Finals are usually finished in June. That’s a long season. Plus, there is a huge pool of competitors. 

A favorite in October might not be among the favorites at all in February. An underdog early might be a favorite later on. The bottom line is that it’s hard to pick winners for the NBA MVP as well as the other individual awards.

Because of that difficulty, there is the potential to profit handsomely. Even at the start of a season, it’s not uncommon to find the NBA MVP favorite listed between +500 and +1000. Solid longshot candidates might be available at +2500, for example. That makes for a nice payday when you hit it right.

 

Finding Value Is Easy

What does the betting public do in situations like this? They jump all over the favorite. The public doesn’t do any analysis and typically just picks what looks like the obvious choice. 

The smart bettor does some analysis and might determine that the favorite doesn’t make sense. Smart bettors have a better chance of finding value on some less popular options. It’s one reason why bettors should wager on NBA season awards.

 

Pricing Varies

The price on your bet for the NBA Coach of the Year, for example, might be +500 at one sportsbook. At a competitor, the same bet is listed at +1000. Prices on these awards can vary greatly. That’s why it pays to shop around when betting NBA season awards.

The odds in the most popular sports, like the NBA, typically are around the same for bets on a point spread, moneyline, or a game total. However, the prices for season-ending award bets can differ significantly between books, especially for less well-known players. It’s always a good idea to compare prices, but it can be especially effective when you bet on NBA season awards.

Follow the Media

It’s a good idea to follow the media when looking at betting NBA season awards. Their opinions matter as many of them are the ones that vote on these awards. You can get an idea of what they are thinking by following them on social media. Since they may ultimately cast the final votes, knowing their opinions can be valuable before placing your bets.

 

Disadvantages When You Bet on NBA Awards

It’s not all candy canes and roses when you bet on NBA seasons awards. There are some disadvantages. The biggest and most significant drawback of these wagers is that your money is locked up until the season ends. These markets won’t pay out until June. 

Another drawback is that sometimes the winner isn’t even on the board when you are ready to bet. When you bet on a single game, there is always an outcome. When you bet on NBA season awards, sometimes the winner isn’t even a possibility.

In 2017, Malcolm Brogdon won the NBA Rookie of the Year award though he was not expected to at the beginning of the season. If you can put up with having money tied up in a season-long bet and if you can consistently spot value, there’s a good chance you can have success when you bet on NBA season awards.

Also check out:

You Should Be Betting the NBA Race to 20 Points

How to Win More NBA First Half Bets

NBA Rookie of the Year Betting Strategy