Parlay Betting in the NBA: Risks and Rewards

One of the great things about the NBA, from a betting standpoint, is that there are always several games to choose from on any given day.

The makes NBA parlay betting a fantastic option, especially on days when there is a jam-packed schedule.

Parlay Betting in the NBA Analysis

Parlay odds tend to be high, depending on how many legs you choose, but it is a definite risk/reward type of wager, so let’s break down the risks and rewards of NBA parlay betting.

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Rewards of Parlay Betting in the NBA

1. Higher Potential Payouts

The main reason why NBA parlay betting is so popular is because of the potentially high payouts. Even if you have a heavy favorite on your ticket, the odds very much swing in your favor when you start adding more teams to the ticket. You can expect very nice payouts when betting NBA teams for parlays, assuming you pick correctly.

2. Engaging and Exciting

Even if you are only wagering on a single game, there is always an increased level of excitement as you await the outcome of said game. Now, imagine you have a 4-team parlay on the go. It stands to reason that you will be more invested in the action and become increasingly excited as each progressive leg hits.

3. Low Initial Investment

You do not have to blow a large chink of your bankroll in NBA parlay betting, as a small investment can go a very long way. Even playing a single dollar on a 4-team parlay can reap major dividends on such a small bet.

4. Variety and Flexibility

Parlay betting can help you play to your strengths as a bettor by allowing you to get creative when putting together your tickets. Moneyline, spreads, point totals, and even player props, can be mixed and matched in a single ticket, making the NBA parlay bet truly flexible.

NBA STANDINGS UPDATE ‼️

▪️ IND wins 4th straight
▪️ HOU (3rd in West) gets win No. 19
▪️ DEN 4-1 in last 5

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Risks of Parlay Betting in the NBA

1. Reduced Probability of Winning

Picking winners on any given game is tough, but when you have 3, 4 or even more games on a single ticket, the chances of getting them all correct is tougher still. There are no prizes in parlay betting for getting 2 out of 3 or 3 out of 4 correct, as all your picks need to be correct in order to cash that ticket.

2. High Risk

While you can get in on an NBA parlay ticket for a small investment, the reduced probability of regularly cashing winning tickets means that your bankroll may still take a hit. Those small wagers at parlay odds can add up very quickly if you go on an extended losing streak, which is a distinct possibility in parlay betting.

3. Difficulty in Predicting Multiple Outcomes

If you play the NBA at all, you already know that there is a high level of unpredictability, which is understandable in a long season. For an NBA parlay ticket to cash, you are counting on a lot of things going in your favor across several different games, which is a scenario that very seldomly plays out as you had hoped.

4. Overconfidence and Emotional Betting

A lot of people who are doing well with single bets might feel encouraged to start putting together NBA parlay bets, feeling they are good enough to make that leap. Parlays are a great leveler, though, and a confident bettor can be quickly made to feel inferior. You may also have some bettors turn to the increased parlay odds in hopes of recouping losses, which is always a bad strategy.

In Conclusion

While NBA parlay betting is definitely fun, we don’t necessarily recommend it as your sole form of wagering. Set aside a small percentage of your bankroll for parlay bets, but don’t place them for all the wrong reasons, some of which we have outlined above. Keep your parlay bets manageable and you will have fun and an increased level of excitement, but don’t play them simply to try and recoup losses, as your bankroll will suffer as a result.

The Cavs have won 8 of their last 9 and show no signs of slowing down 😤

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— NBA (@NBA) December 23, 2024