The Memphis Grizzlies are experiencing a breakthrough of sorts during the early part of the NBA year and seem to have made the leap from a good team to an elite one. The transformation in large part has come from the MVP-caliber performance that franchise center Marc Gasol has put up through the first 17 games of the season. Memphis raced out of the gate to a 15-2 record and has been nothing sort of dominant under Gasol's 20 points, eight rebounds and nearly two blocks per game averages.

The question on every bettor's mind, however, is 'how well does Memphis perform against the spread?' Overall, it has been one of the better squads against the spread, but let's take a closer look at Memphis' ATS record and figure out which is the best way to wager on the team.

Overall record: 10-7, 58 percent

The Grizzlies are currently tied for the eighth-best ATS record in the league with a 10-7 mark. The squad has not been spectacular ATS-wise and went through a streak where it failed to cover five straight spreads earlier in the season. At the moment, Memphis has covered six of their last seven lines, five of which by also happened to be by double-digits. Overall, the Grizzlies are covering spreads by an average of 4.2 points per game.

As a favorite: 6-7, 46.2 percent

Memphis has been a favorite in 13 of its first 17 games and seems to be on everyone's radar at the moment. The team is currently 12-1 straight up when placed as the favorite, but it struggles as a seven-point-or-larger favorite and currently has not covered a single spread during five of those instances. Memphis is an elite team, mostly because of their prowess on the defensive end, but bettors must remember that it still struggles on the offensive end and might not be a great betting option for large lines.

As an underdog: 4-0, 100 percent

The one area where Memphis has excelled at is being an underdog. The squad plays an elite style of defense that grinds out wins, and anytime that a bettor can receive points on Memphis, it will probably be a profitable play. On average the team has been given four points a game as an underdog and has won three of those matchups straight up. The one game the squad did lose as an underdog was a close road matchup against Toronto, but it still covered as a six-point dog.

Conference versus nonconference: 6-5, 54.5 percent; 4-2, 66 percent

The season is still very young, and trends can change over the course of an 82-game schedule, but where Memphis has been piling up ATS win has been during nonconference games. The East has steadily improved over the last few seasons. However, there is still a large divide between the two conferences, and Memphis has learned to take advantage of that. Two seasons ago the Grizzlies ended the year with a 20-10 ATS mark against the Eastern Conference and could finish in that same range again this season.

Memphis is an elite team and on course to grab a top spot in the Western Conference. The group is also one of those teams that bettors ignore from time to time and could fall under-the-radar at a moments notice. Keep an eye on the Grizzlies and jump on any chance you can find were the team is receiving points or as a small favorite.

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Read more articles by George Monroy