What is a basketball cup? Is this referring to what we would call the basket in English, the object high up that the ball must go through to score points?
No, it's the cup or trophy that you win in certain tournaments.
As in "football world cup" and the like.
Of course, a basketball trophy. I must admit that the fist thing I thought of was the plastic object that protects an American football player's genitals, but I thought it couldn't possibly be that.
Yes, that's it :) I'll edit my comment to include "trophy" for the benefit of later readers.
While editing this previously I learned a bit about basketball (and perhaps other sports') championship games. In Greek "Το κύπελλο μπάσετ" can refer to the cup/trophy awarded but it also can refer to the game or games to determine who will receive the "cup".. For that reason we also include "the basketball championship" and "...championship game."
So, a kind of metonymy, like using the World Cup or the Stanley Cup to refer to the entire series, rather than just the trophy.
Very well done. It was hard for me to conceive of the idea of the "cup" referring to the games but of course I've known the Stanley Cup for a long time but never connected them. Thank you very much.
So, if I'm not getting it wrong, it would be like the Spanish copa, which can mean both the trophy and the championship (obviously, in a sport context. It also has more meanings, as the one mentioned in a comment below). If you see on the news something about la copa del Rey can mean both the trophy ("el Atleti ha ganado la copa del Rey" = "Atlético de Madrid won the King's Cup") or the championship itself ("este fin de semana hay copa del rey" = "this weekend there is a match of the King's cup").
Does the double spelling of λ in κύπελλο have any impact on the pronunciation, like prolonging the l-sound or someting like that?
In Greece, it stopped having an impact on pronunciation about 2000 years ago. In Cyprus (Cypriotic Greek, which are a lot different), they are still pronounced prolonged, but I suggest you not to meddle in that yet. ;)
Or does this refer to the FIBA World Cup? Which could be referred to as the Basketball Cup?