Playing the Parlay Can Be Risky in NBA
In sports betting, playing the parlay in NBA can result in a big payoff. The chance that you might hit a big payoff by wagering very little makes the parlay an attractive wager. But there are many pitfalls when it comes to the sports betting parlay.
In this article, we’re going to consider the single sport NBA parlay. We’ll look at the basics, consider the challenges and discuss some strategies you might incorporate into your NBA betting scheme.
How the NBA Parlay Works
The single sport parlay occurs when a better puts two or more games associated with the same sport on one betting slip. In order to win the bet, you have to be correct on all of you choices.
So many gamblers are attracted to the excitement of the parlay in sports betting. Below is the payout chart for a NBA parlay.
When you put $10 on a two-team parlay, you stand to win $26. When you put the same cash down on two single bets, the most you can win is $20. The three-game parlay, which plays 6-1, starts to look very attractive. For the same bet on three single games, where you’d win $30, three wins on a parlay ticket pays double that amount. Each time you increase by one team, your payout when compared to the last parlay basically doubles and it multiplies the single bet payouts even more.
As an example, play six single bet tickets and if you’re correct on all six, you make a profit of $60. The 47-1 payout of a six-team parlay would pay $470 on a wager of just $10. Bet the $60 on the parlay that you were going to wager on six single bets and you’d earn $2,820 on a win. These figures reveal why people like to bet the NBA parlay.
The problem with the sports betting parlay is simply in how attractive the payouts can be. That’s because parlays are deceptively difficult to hit. Even the three-team bet on one ticket is statistically hard to get right. That’s partly because you’re simply attempting to be right on three straight games, but it’s also because bettors must deal with the point spread. The spread makes parlay wagering especially difficult.
Here are some basic warnings regarding parlays.
- Don’t play parlays that combine sports.
- Don’t play parlays that combine types of bets, such as the spread and over/under.
- Don’t overextend your bankroll by playing parlays.
- Remember that the more games you play on your ticket, the harder it is to hit.
NBA Strategies for Betting the parlay
Here are some quick NBA strategies that you can utilize for successfully playing and betting the parlay.
- Play parlays only after you’ve doubled your bankroll.
- Wager no more than two units or 5% on a parlay.
- Limit how many parlays you play per week. Start with one.
- After you double your bankroll and have started playing parlays, increase parlay play and limits only after you increase your winnings by 50% or more.
- Don’t rely on the parlay as your major way of generating income.
Managing Sports Betting Parlays
The primary thing that you have to do in your sports betting enterprise is to make sure that you manage your parlay betting carefully. Don’t get into the habit of playing multiple parlays. They will use up your bankroll quickly.