NBA parlay bets are the equivalent of pulling up for a three-pointer in transition, instead of driving into the paint for an open layup. It’s a lower percentage play (unless you’re Steph Curry of course), but if you’re successful, the rewards are far greater.
Bettors are able to combine multiple wagers into one bet slip using the parlay method, which allows them to increase the potential payout on offer. There’s a catch, however. For a parlay bet to be successful one, each individual leg of the parlay must win, otherwise the bettor does not end up with a cent.
A parlay enables bettors to mix a plethora of NBA bet types including moneyline, spread, totals or prop bets from one or more games each night. Some sportsbooks will have a limit on the number of legs that can be included in a single parlay, while others will allow you to go as hard as you like.
AN EXAMPLE…
While it’s not often that a parlay with the kind of odds shown in the example above pays off, this type of bet is a savvy way for bettors to try and maximise profits if they have a high level of confidence about the outcome of multiple different NBA bets
Instead of betting on each event individually, bettors could combine each of the bets into a parlay to increase the potential return. With each new leg added, the odds are multiplied and the possible payout increases.
Parlays also give bettors the opportunity to prolong the lifespan of their bankroll. For example, it’s much more affordable to have one $100 parlay wager combing five different NBA games than it is to wager $100 each on of the five games individually. In our example above, the bettor wagered just $1 to collect a sum of $41,941.74, as opposed to wagering $5 for a far, far smaller return (likely under $100) if they’d made five separate $1 bets.
As mentioned earlier however, if even one of the five bets made in the parlay above didn’t win, the bettor would’ve ended up completely empty handed. There’s no prize for getting four out of five bets right in a parlay, and there wouldn’t even be a prize if you got 99 out of 100 legs right either (despite how difficult that is!).
With that being said, some sportsbooks will occasionally run a promotion that allows for bettors to have parlay insurance. This often involves the bettor being compensated with a small credit or bonus bet if you miss one leg of your parlay.
SAME GAME PARLAY
An increasingly popular type of NBA parlay bet is the same game parlay, which unsurprisingly involves all the legs of your parlay coming from one particular NBA game.
Same game parlays are an opportunity for bettors to combine events that are closely related to each other into the one bet slip. For example, a bettor may anticipate a game will be high scoring and bet on the over in the totals market. Additionally, they might feel the top offensive threats from each team will help this happen by scoring a large number of points individually. As such, it’d be wise to include an overs bet for each of these player’s individual total points prop in the parlay.
Including different elements of an NBA game in your parlay that are closely correlated is a sound strategy for amplifying the value of your bet and potentially increasing your winnings.
FUTURES PARLAY
Parlays can also be created by combining a number of different NBA futures bets. An example of this might involve including the NBA Champion, Eastern and Western Conference Champions, MVP winner, Rookie of the Year and Sixth Man of the Year winners in the same bet slip.
Most NBA futures bets offer big odds due to the number of factors that can influence their outcome over such a long period of time. Combining these into a parlay is a way to get yourself some very juicy odds indeed and could result in an incredibly lucrative payout.
CASH OUT
Rather than waiting for the final outcome of a parlay, many sportsbooks gives bettors the chance to accept a proportionate sum of money that reflects the current market value of those bests. If a bettor chooses to accept this amount, this is known as cashing out. The sum offered will always be less than the sum you’re in line to win but it guarantees profit. Are you the type to play it safe and take the money, or do you want to let it ride for a shot at the big bucks?
DID YOU KNOW? / FUN FACT
In January 2021, an bettor collected $103,041.28 after successfully wagering $250 on an 11-leg same-game parlay for a NBA clash between the Boston Celtics and Philadelphia 76ers.
The ideal NBA parlay will take advantage of the best odds for any given market. Thankfully our team here at Bet Basics has put together a list of 100% licensed and regulated legal sportsbooks who offer competitive odds and extensive NBA parlay options. Signing up with the likes of Bet365, PointsBet, BetMGM, FanDuel and DraftKings will give you the opportunity to conduct odds comparisons and make the most of exclusive Bet Basics bonuses and promotions.