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Xgtiger Casino will now explain where to bet small, win big, that’s the beauty of NBA Parlay betting. With up to 15 NBA games ending each day, there are plenty of opportunities to take advantage. Don’t be fooled, they are harder to win than a standard single bet, but expect higher returns from a small stake if your NBA parlay betting picks land.
What is an NBA parlay bet?
NBA parlay betting is a popular and rewarding way to place NBA bets. A parlay is an ascending series of bets where the winnings accumulated from the first bet are used as a stake in a further bet. This trend can continue for however many options or ‘legs’ you add to your one ticket bet. Since parlays consist of at least two bets, you will need to have at least two teams/players you are interested in backing, but the opportunity to add more is just beginning. Parlays can contain up to a maximum of 14-15 different legs depending on which sportsbook you use. While some of this may be confusing to the new gambler, I can almost promise that you’ll understand completely by the time you’re done reading. See a more in-depth breakdown of parlays below.
Explaining the NBA parlay
One of the fastest growing ways to bet on NBA action is through parlay betting. Parlay betting picks multiple teams to win (or players to reach their player props) in different matchups while combining them all on the same ticket. Essentially, you wait for your first bet to win, then the winnings are automatically placed on the next team/player of your choice and so on depending on how many “legs” you add to your ticket. If your bet ends in a tie, often referred to as a push, the leg and the odds will be deducted from the bet. For an example, let’s look at a typical day’s schedule during the NBA season.
| Road team | Home team |
|---|---|
| Philadelphia 76ers | New York Knicks |
| Milwaukee Bucks | Boston Celtics |
| Los Angeles Lakers | Dallas Mavericks |
| Memphis Grizzlies | San Francisco |
We have the Philadelphia 76ers against the New York Knicks. The Boston Celtics host the Milwaukee Bucks, the Los Angeles Lakers travel to Dallas to play the Mavericks and the Memphis Grizzlies play the Warriors in San Francisco.
For example’s sake, let’s say all home teams are (-200) favorites on the moneyline. If you placed a $10 bet on all 4 home teams parlayed at -200, this means that the money you win when the Knicks beat the 76ers is added to your bet on the Celtics beating the Bucks and the Mavericks that the Lakers beat if all the teams you bet on win their respective games. There is more information on how the math works described below.
How to bet NBA parlay
If you’ve never placed a parlay bet before and you’re thinking that adding multiple legs to the same ticket seems like a very complicated task, breathe easy because it’s a pretty simple process.
Parlay betting simply requires bets to select multiple teams or players from a particular matchup to be paired with another team or player from a different matchup.
Each team or player added to your ticket is considered a “leg” as mentioned earlier. The more legs you add increase the risk and rewards but decrease your odds of winning. This is one reason why parlays have become so popular. Some bettors love the idea of having a huge return on their first stake if they can combine multiple legs into one bet. It is also important to note that most sportsbooks, especially online sportsbooks, allow users to bet very small amounts on parlays. Sometimes less than $1 can bet. If you’re interested in winning money on a parlay bet and want to calculate your odds before you place your bet, check out the OnlineBetting.com bet calculator. Let the calculator focus on the math while you focus on choosing the right legs for your parlay.
What do NBA minus and plus odds mean?
The odds in our example above of four (4) home teams being favorites at -200 odds have a little math involved when we calculate parlay odds. A -200 odds bet implies that a bettor has to bet $20 to win $10 which is not very appealing when you consider some bets come with (+) money.
Here’s how the math works for our example of four home favorites on a typical NBA day schedule mentioned earlier. Placing a $10 bet on a favorite at -200 will only pay $5 for the first leg of the parlay. However, if the bet wins that $5 is used to bet on the second leg of the parlay and if the second team wins at the same -200 odds your $5 now becomes $12.50. If the third team wins your parlay at -200, you’ve now earned $23. Since there are four legs in our parlay example, we also need our third bet to place the $23 won on the 4th home favorite at -200 to get a whopping $40.63. Not bad when we remember that all our winnings came from a $10 bet.
Why bet on NBA parleys instead of single bets?
If you are wondering why bettors enjoy parlay, there are a few different reasons. First, there is an opportunity for great income. As mentioned in the example above, if bettors feel confident adding multiple teams to win on a bet slip, this greatly improves the odds, increasing the payout. Although 5-10 leg parlays are difficult to win consistently, there is an exciting opportunity to watch many predictions win. There is also an early payout option offered by many major sportsbooks where bettors can decide if they want to take a share of their winnings after a few legs have been won on their ticket.
Conclusion
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