The time required to hold [Space] varies as you get further into the game. Watch your player and do not go completely by the timing. It is more difficult to make shots on level 5 than it is on level 1.
When taking a shot outside the hot spot, do not panic or rush. Make the shot or you will compound the error by decreasing your time by five seconds.
If you have plenty of time to close out the last few shots in a round, wait for the hot spot to get past the 3-point line to increase your score. However, do not risk the round's bonus points, just for a 3-point shot.
Once you get your feet planted in the hot spot, pay the attention to your player's jump. It is easy to get distracted, especially on level 4 or 5, and focus too much on the feet.
If the basket is not down by the time the clock reaches zero, the basket will not count.