The NBA passed its proposal to return to play on Thursday. The league will bring 22 teams (13 Western Conference, nine Eastern Conference) to Orlando to play eight regular-season games each, followed by a potential play-in tournament and a 16-team playoffs.
More information about the format is available here.
The alternate playoff format and shortened regular season impact the outcomes of futures bets, like the odds to win divisions and regular-season win totals. It is unclear if the play-in tournament games would count towards season win totals, props or end-of-season awards.
Sportsbook rules vary from one company to the next, but here is an overview of how some bookmakers (and states) are handling the NBA's announcement and its effect on wagers that had already been placed.
NBA title/conference futures
All futures bets made to win the Eastern or Western Conference -- or the NBA Finals -- placed before the March 11 shutdown are still alive. All 22 teams invited to Orlando will have a chance at cashing the future championship tickets. Even with the possible play-in for eight seeds, the NBA will end up with a traditional 16-team NBA playoffs, eight on each side. The Los Angeles Lakers are the favorites at 2-1 at Caesars Sportsbook.
Bets to make the playoffs
This will be much simpler than the current NHL 24-team play-in tournament. Before the season, sportsbooks offer a "yes" or "no" for all 30 NBA teams on if they will make the postseason. Once the eight regular season games are finished and the possible play-in games are done, the field will be set with 16 postseason teams. The 16 that make the official field will be graded as "yes" and the six teams that don't qualify, as well as the eight not invited to Orlando, will be graded as "no."
Season win totals
The decision on whether you get paid for a season win over or under ticket depends on both the state you placed the bet in and the sportsbook you placed the bet at. For example, in Nevada, for win total bets on teams that don't play the required limit of games (at Caesars it is 81 games), the bet is voided and refunded, even if already decided. The Detroit Pistons, Golden State Warriors, Portland Trail Blazers and San Antonio Spurs have already clinched under their win totals, while the Memphis Grizzlies, Oklahoma City Thunder and Toronto Raptors clinched their respective overs.
However, in New Jersey, if you had a ticket on an "already decided" total, you would get paid out for wins and not receive a refund for a loss. Additionally, there are now eight more games to be played toward these season win totals. FanDuel said it requires teams to play a minimum of 75 games for season-win totals to be action.
In short, be sure to check which sportsbook and in which state your bet was placed. The rules will vary.
The same rules for season win totals applies to props as well. Check the specific state and sportsbook rules to see if the ticket qualifies. For example, at the Westgate Las Vegas SuperBook, 82 games must be played for action on player props as well as win totals. It's also unknown if the eight additional regular-season games will count toward awards or not.