Parlays are a popular form of betting because they provide higher payouts for users. Since there are so many outcomes within each game in basketball, parlays align well with the NBA.
You can parlay the game and total, but you can also bet on several player props since there are so many stats, such as points, rebounds, assists, steals, and blocks.
Like with any form of betting, it’s important to choose sportsbooks that provide several betting markets so that you have more options. You should also shop around to make sure that you have the best lines that put you in the best position to win.
With that said, let’s get into NBA parlay betting.
How NBA Parlay Betting Works
NBA parlay betting is when you bet on multiple games. If you win each of the games, you win a higher payout. The higher the odds on your specific bet, the higher the payout your parlay will be.
For example, let’s say I bet on the Raptors, 76ers, and Celtics all on the moneyline. Each of the teams are heavy favorites in the game, say around (-300) each.
This parlay would pay me (+137) on the moneyline, which means I’d risk $100 to win $137. The payout is lower because each of these teams are heavy favorites.
However, if I bet on the Hornets, Kings, and Grizzlies as (+200) underdogs on the moneyline, this parlay would pay (+2600). This means that I’d risk $100 to win $2,600.
The payout is higher because each of these teams are underdogs, which means that it’s less likely that they win the game.
You can parlay the spread, moneyline, total, and player props in the NBA. There are several upsets in a given season, so be sure to take advantage of some potentially high payouts throughout the season.
The NBA is among the best sports to bet on because any team can lose on any given night. You’ll find some massive underdogs, sometimes over (+1000).
Take advantage of the potential profits available in NBA parlays.
Best NBA Parlay Betting Sites
It’s important to choose the best parlay betting site to put you in a good spot as a bettor.
The following sportsbooks are the best options to choose from when you’re placing a wager on an NBA parlay:
DraftKings features a comprehensive selection of potential bets in the NBA betting market, including several player props.
Betting on player props is great in basketball because there are so many stats to choose from, such as points, rebounds, assists, steals, blocks, and three-pointers.
DraftKings also has a useful rewards program with several promotions.
FanDuel is similar to DraftKings in that it includes several choices for prop bets.
There are also same game parlays on FanDuel, where you can parlay a bunch of outcomes from the same game. This is useful because when you parlay props in the same game, you can correlate your bets.
For example, Chris Paul assists and D’Andre Ayton points would have a positive correlation, as there’s a good chance that if Paul is racking up assists, Ayton is scoring at a high rate.
BetMGM Sportsbook also includes same game parlays, giving you the option of correlating your player props bets. This website offers several useful promotions that can help you succeed as a bettor.
It’s a user-friendly website with an assortment of betting markets. They also offer live-streaming, so you have a chance to watch your NBA bet on the website.
PointsBet is another great choice because it’s one of the most innovative sportsbooks out there. It features a “points betting” system, where bettors are rewarded more if their team wins by more.
This means that if you take the Raptors to win by 7 or more but they win by 20, you can win more payouts. However, it also means that if your team loses by more, you might risk more money.
Points betting is a unique feature that you should try out.
Bet365 provides users with several options in the NBA betting market, which is great for parlays. They also have a promotion where they offer users some bonus winnings if they win their parlay, up to a certain amount.
The more legs (games) on your parlay, the higher your bonus if you’re able to win.
How To Pick the Best NBA Parlay Betting Sites
It’s important to choose the right sportsbook for NBA parlay betting. Here is some criteria to help you make your choice:
Choose a sportsbook that provides you with a first-deposit bonus, where they match your first deposit to a certain amount, or a risk-free bet, where you are reimbursed for your first losing bet (there are maximums for this bonus).
It’s also important to select a sportsbook that provides you with several options for player props, since this type of betting works perfectly with the NBA.
There are so many props to choose from, and they’re often easier to project. For example, if you choose the Over on James Harden points in a game with a high total, there’s a good chance he’s going Over.
Same Game Parlays
Same Game Parlays are huge in the NBA because they allow you to correlate your bets. There are some outcomes that work well with each other, like a player’s points and assists.
If one player on the team is racking up assists, chances are that another player is scoring at a high rate. Same Game Parlays help you because they put you in a better position to win.
It’s also a good idea to check to see if the sportsbook provides parlay-related promotions, such as odds boosts (increasing odds on selected games), parlay insurance (providing you with wins if you don’t hit every game), and parlay bonuses (giving you bonus winnings if you hit your parlay).
NBA Parlay Betting Promotions
There are a few promotions that can really help you with NBA parlays, such as:
Parlay insurance is when a sportsbook provides users with winnings if they win only a certain amount of games on their parlay.
For example, let’s say you play a six-game parlay and win five of the games, losing the last one. Parlay insurance will provide you with a certain percentage of these winnings.
This is great, because there’s nothing worse than winning nothing even though you won every game except one.
Parlay bonuses are a percentage of winnings provided to users if they win their parlays. For example, if you win a three-game parlay, you might get 5% extra winnings from the parlay bonus.
The more games featured in your parlay, the higher the potential bonus winnings.
Early payouts are provided as a promotion, which can really help you win your parlay.
For example, if your team is winning by 15-20 points at any point in the game, the sportsbook will award you with an early payout.
This is huge because leads can change very quickly in the NBA, so this helps prevent any potential bad beats with a close loss.
Cash-out options are another feature offered by sportsbooks. This means that if you win two out of your three-game parlay, you’re able to cash out and take less winnings so that you avoid risking it all on the third game.
This is especially useful if you’ve hit five of your first six games of your parlay, as you’re able to take an early win, albeit for a lesser prize.
Best NBA Parlay Bets
When betting on NBA parlays, make sure to take advantage of home favorite parlays, home underdog parlays, and same game parlays.
Home favorite parlays are safe with less payouts, but they help protect you against the risk you take with home underdog parlays, which have a lot more variance.
Same game parlays are great because you can correlate your picks. Plus, if you only want to bet on your favorite team and rack up a high payout, there’s no better way to do so.
NBA Same Game Parlays
NBA Same Game Parlays are when a sportsbook provides users with a chance to bet on different outcomes within the same game, such as the moneyline, spread, total, and player props.
Not every sportsbook offers this option, so be sure to check in before signing up because Same Game Parlays are useful.
Some sportsbooks also put restrictions on which bet types you can parlay. For example, bet365 only allows for player prop parlays on certain marquee games.
NBA Parlay Betting Strategy
There are several effective strategies for betting on parlays in the NBA.
The first one can be where you bet on the moneyline on several home favorites. Home court advantage is huge in the NBA, so if you parlay four heavy home favorites on the moneyline, there’s a good chance that you’ll win, albeit at a low payout.
This is a safe strategy designed to insulate you against the risk you’ll take with longer shot parlays.
Another strategy is to focus on same game parlays, where you can parlay props, as well as the game spread, moneyline, and total in the same game.
For example, if you bet the Over on Stephen Curry three-pointers, you might also choose the Over on the game total, since if Curry is making several threes, there’s a good chance it’s a high-scoring game.
There are always several props to choose from, so be sure to take advantage of these options and correlate them with others to maximize your chances of winning.
It’s also a good idea to go with an underdog parlay from time to time, especially with home underdogs, since home-court advantage is big in the NBA.
You can often find some really high moneylines that can hit, providing you with a chance at a high payout. Any team can lose at any time in the NBA, so underdog parlays are a good strategy.
How to Place an NBA Parlay Bet Online
Here are the steps that you need to take in order to place an NBA Parlay Bet online:
- Sign into your account at your preferred sportsbook
- Click “NBA”
- Go to “Parlays” (if this isn’t an option, select a few games to add to your bet slip)
- Place your bet!
Benefits of NBA Parlay Betting Online
The benefit of NBA parlay betting online is that it’s much easier and more convenient to place a wager on an online sportsbook. You can do it from the comfort of your own laptop or mobile device rather than walking into the sportsbook at the casino, waiting in line, and choosing your bets for your parlay.
Making NBA betting picks online is also advantageous because sportsbooks will sometimes offer useful promotions on parlays, such as bonus winnings if you hit on a parlay of four games or more. You’re not able to take advantage of this at an in-person sportsbook.
Be sure to take advantage of the benefits of betting on NBA parlays online.
Where Can I Legally NBA Parlay Bet Online?
The following states allow you to place an NBA Parlay Bet Online:
- Illinois (must sign up in-person)
- Nevada (must sign up in-person)
- New Hampshire (limited options)
- New Jersey
- Oregon (limited options)
- Rhode Island (limited options)
- Washington D.C. (limited options)
- West Virginia
Choose More Than One NBA Parlay Betting Site
It’s important to register for more than one NBA Parlay Betting Site because you can take advantage of the different welcome bonuses, shop around for the best odds, and find certain unique props.
Some websites offer useful first-deposit bonuses. Others have better value on certain props, perhaps less points required for LeBron James to hit the Over on his points prop.
Others also have props that are not available on other websites, perhaps with a certain player. The bottom line is that you really need to make sure that you’re NBA Parlay Betting on multiple websites.