Practice by Doing
When training to stay in shape for a sport, especially ones involving prolonged activity like basketball, one of the best ways to stay in shape is to simply participate in the activity itself. It might be possible for a shot putter, or javelin thrower to spend most of their time working out and still be successful: in games that combine refined control with athleticism, there's no substitute for practice. Not only does playing basketball regularly strengthen the muscles and increase endurance necessary for the game, but it also hones the skills and shot necessary to be successful. Staying in shape for basketball is more than a physical battle. Keeping shots accurate, and improving accuracy, dribbling, passing, etc. are all important forms of staying ready to play the game.
Hitting the Weights
Outside of practicing the game itself, basketball players do spend considerable amounts of time working out in other ways to increase their effectiveness on court. Weight training is an important part of being in shape for basketball: heavy lifting with the legs promotes greater leaping ability, which helps with jumping for rebounds, blocks, dunks and making jump shots. Core and arm strength are also important, as they allow a player to better box out other players, set picks and generally become a more physically imposing presence on the court, enabling them to overpower defenders. Lifting can also help increase balance and foot speed, enabling players to run the court faster.
Speed and Cardio Drills
Along with weight training, speed, agility and cardiovascular drills are an important component of staying in shape for basketball. There's no use being incredibly strong, if one cannot run back and forth quickly in order to keep up with the flow of the game, and capitalize on breakaways, or defend against them. Basketball players often run sprints, very commonly in the form of "killers," an exercise involving running back and forth several times up and down a basketball court at high speed while constantly changing direction. Wind sprints, repeated running of a short distance at high speed with 5-30 seconds of rest in between each sprint is also a common way to build speed, as well as endurance that emulates running up and down the court. Jumping rope is a good way to improve jumping endurance and strength. Drills involving hopping on one foot in different set patterns are also used to train agility, balance, and increase leg endurance. Running longer distances to improve overall endurance is also a common way to stay in good shape.
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