The NBA is heating up and so are the odds away from the hardwood. Unlike the unpredictable regular season, the NBA playoffs offer a significantly higher overall certainty as the best teams in the league leave it all out on the floor in the hopes of winning a championship. Because of this, the ability to maximise the betting opportunity also intensifies.
A good betting strategy in order to minimize your loses and maximise your profits is imperative, and NBA parlay betting is exactly that. A parlay bet in its simplest explanation is a combo wager that consists of two or more individual bets that are linked to one another. Consequently, all wagers need to be winners in order to cash in, and if any are losers, you ultimately lose the bet.
Parlay betting on the NBA
Parlay betting on the NBA is particularly profitable because the odds are significantly better in comparison to the conventional and classic way of sports betting.
Traditionally, placing three separate $110 bets such as the Los Angeles Lakers to beat the Miami Heat by five points, the Atlanta Hawks to beat the Sacramento Kings by eight points and the Utah Jazz to defeat the Denver Nuggets by six points would yield a pure profit of $300. However, by completing the parlay-betting card combining those three bets for $110, the wager would return a mammoth $650 profit. Keep in mind; if the two of those wins come in and one doesn’t, the entire $110 bet loses. Despite this risk, the incredible odds and potential payoff is hard to ignore.
Typically, a two-pick NBA parlay has a 2.6 to 1 payout or any $100 bet wins you an extra $260. A three-pick NBA parlay has a 6.5-to-1 payment, whilst the highest 11-pick parlay returns a monstrous payout 1,500-to-1 or $150,000 for any $100 bet.
Of course these odds may vary depending on bet types and sports book, but as you can see, the prospects and odds are sensational.
NBA parlays are an attractive betting option
Another reason NBA parlays are an attractive betting option is because of the ability also to make bets within the parlay. For example, if the Los Angeles Lakers are facing the New York Knicks and you believe the Lakers are going to win easily, but you also anticipate both teams will fire a ton of three-pointers, you can place two separate bets within the same wager. One of which can be the Lakers to win, and the other both teams to score more than the number of points specified by the particular sportsbook. As a result, this is a correlated parlay – two bets from the same NBA game.
Another variation is NBA Moneyline parlays, which happen to be the most common of them all. The strategy is quite straightforward for moneyline parlays, by simply picking the winners and combining them into a single bet for the best odds.
Lastly, another common variation is NBA Progressive parlays – a unique wager across multiple events that are useful for placing big bets with minimizing risk. You can also check Free NBA predictions with time if you want to read about picks and parlays.
NBA parlay betting doesn’t just stop there though, they also offer Round Robin NBA betting, two-team teasers and pleaser bets, but research is recommended before betting with these formats.
All in all, for individuals looking to minimize their risk and maximize their earnings, parlay betting could be the most intelligent and profitable way to reward your NBA knowledge.