Anderson's NBA career has been plagued by injuries. In the 2004–2005 season he only played in 8 of the final 42 games for the Portland Trail Blazers, and missed similar numbers of games in prior seasons. On August 3, 2005, he was the first player in the league waived using the so-called "luxury tax amnesty clause" of the 2005 NBA collective bargaining agreement. He would sign with the Houston Rockets as a free agent before being traded to the Miami Heat in exchange for Gerald Fitch.
Anderson was waived by Heat on September 12, 2006, prior to the beginning of the 2006–07 season. Several weeks later, on November 28, he signed with the Charlotte Bobcats.