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Pick up your ball and find the point where the grooves in the ball meet at the bottom. You will want to spin the ball on the bottom middle of the ball where all of the grooves meet in a perpendicular point. If you spin the ball with the grooves in a horizontal position, your spin won't look as clean and your finger won't have a point to rest on. Some people prefer to use two hands to throw and guide the ball into the air before catching it with their finger. Others prefer to palm the basketball in one hand and use a quick flick of the wrist to prop the ball up to the fingertip. The two-handed method is easiest for beginners. Bend your elbow out and hold up the ball. You want your elbow to be at a comfortable height, usually a little bit higher than your hip. The ball should be about level with your face when you spin it. This is the same hand you'll use to spin the ball. Do not hold the ball entirely flat on your palm, as this causes the ball to slide around too easily. Instead grip it with your fingertips and allow for a small air pocket between your palm and the ball. You can use the pads of your fingers to keep the ball level on your finger. You should also use them to guide the ball and make sure it doesn't tilt to one side or fall over.
Find the grooves in the ball. Decide whether to use one or two hands. Hold the ball up with your elbow a little above your hip. Hold the ball in your dominant hand with your finger pads. Use your finger pads to guide the ball in the proper direction.