The NBA is exhilarating to wager on, and making NBA parlay bets can lead to large payouts. Still, there’s a bigger potential risk for losing your wager with each bet you tie into a parlay.
In this guide we'll examine different kinds of NBA parlays and will share tips and strategies for making more informed NBA parlay picks this season.
What is an NBA parlay bet?
A parlay bet is a popular wager that includes two more or bets that relies on all of them winning.
Parlays are also known as “accumulators,” “combos,” or “multis,” and each bet in a parlay is known as a “leg.” Each must be correct for the wager to payout. So if just one leg of the parlay loses, the whole bet loses, and you get no pay out, even if other legs win.
The upside to a parlay is that the bet pays out at increased odds if all the legs win.
As an example, if you have a three-team parlay consisting of the New York Knicks, Boston Celtics, and Los Angeles Lakers on the moneyline, you’d need to be correct on all three games. Even getting two out of three right will result in the parlay not cashing. If the NBA canceled one of the games in this parlay, sportsbooks will remove it and only grade the remaining events.
Risks and rewards of NBA parlay betting
NBA parlay bets offer an intriguing combination of potential risks and rewards that distinguish them from regular single-game wagers. On the one hand, parlay bets can magnify winnings significantly when they hit. This feature has made parlay betting wildly popular among those seeking the chance to turn a small investment into a big-time windfall. However, that allure comes with a catch: the more bets you add to a parlay, the higher the risk. Even a single incorrect pick can lead to your entire parlay falling apart like a house of cards.
Bettors need to understand that while parlay bets offer exciting opportunities, they require a higher degree of accuracy to succeed. Therefore it's crucial to strike a balance between the number of selections in your parlay and your risk tolerance. With careful selection, research, and planning, parlay bets can be an extremely rewarding component of your total NBA betting strategy.
NBA moneyline parlays
NBA moneyline parlays are the most popular because of their simplicity. You only need to pick the winners of each game, and most NBA games are not evenly matched.
In the example below, a bettor has paired two moneyline bets together by picking the Milwaukee Bucks at -120 over the Atlanta Hawks and the Golden State Warriors at +140 over the Los Angeles Lakers. This basic two-game parlay involving just one of the teams at plus-money offers an enticing payout of +340.
| Two-team parlay | |
|---|---|
|
Moneyline: |
|
|
Moneyline: |
|
|
Parlay |
+340 |
|
Stake |
$100 |
|
Total Return |
$440 |
Atlanta
At +340 odds, this $100 bet would win $340 plus the original stake for a total return of $440.
On the other hand, you can still parlay several heavy favorites at -200 or more on the moneyline and still see a payout at plus money.
Progressive parlays
Progressive parlays in the NBA are wagers that offer insurance. Usually, progressive parlays in basketball consist of at least four to six games with the advantage that sportsbooks would allow one leg to lose.
Sportsbooks offer progressive parlays at significantly worse odds than a regular parlay due to the security it provides in your bet.
NBA point spread parlays
When it comes to NBA point spread parlays, you’re picking two or more teams to cover the spread of a game. Most games on the spread will have a vig of around -110, so a two-team parlay would usually equate to +264 odds.
In the example below, a bettor has decided to back Atlanta to cover the +1.0 spread against Milwaukee and for Los Angeles to cover their -3.5 spread against Golden State. On top of the +264 parlay odds that these bets combine for, the sportsbook has offered a five percent parlay bonus to the odds, bumping it to +277.
Most point spreads have a “hook,” which is a half-point to prevent games from pushing. In this case, if the Atlanta Hawks lose by exactly one point, the game is considered a push. The parlay will revert to a single bet that consists of the Los Angeles Lakers at -3.5 with -110 odds.
| Two-team parlay | |
|---|---|
|
Spread: |
|
|
Spread: |
|
|
Parlay |
+264 |
|
Plus 5% Parlay Bonus |
+277 |
|
Stake |
$100 |
|
Total Return |
$377 |
NBA Over/Under parlays
Parlays still apply the same rules when it comes to NBA Over/Unders.
In the example below, the bettor needs Hawks-Bucks to go Over 235.5 points and Warriors-Lakers to go Under 227.5 points for the parlay to win.
Both of these Over/Under bets have a vig of -110 with a five percent bonus from the sportsbook.
| Two-game parlay | |
|---|---|
|
Over/Under: |
|
|
Over/Under: |
|
|
Parlay |
+264 |
|
Plus 5% Parlay Bonus |
+277 |
|
Stake |
$100 |
|
Total Return |
$377 |
NBA correlated parlays (same-game parlays)
Also known as “same-game parlays,” correlated parlays allow you to combine bets on outcomes involving the same event.
The following example has three bets on a game between the Atlanta Hawks and the Milwaukee Bucks. The bettor picked the Bucks to win on the moneyline and for the game to hit the Over of 235 points. They’ve also added a third bet to the parlay for Trae Young to score Under 25.5 points in the game.
The three bets of -120, -110, and -110 have parlay odds of +568 and would pay out handsomely if all three bets won during this game.
| Games | Bet type |
|---|---|
|
Spread: |
|
|
Over/Under: |
|
|
Player Prop / Over/Under: Trae Young Under 25.5 points (-120) |
|
|
Parlay |
+568 |
|
Stake |
$100 |
|
Total Return |
$668 |
More and more online sportsbooks are coming out with same-game props, which have become an allure for bettors. For example, you could parlay LeBron James to record a triple-double and for the Lakers to win on the moneyline.
Round-robin parlays for basketball betting
In a round-robin parlay, bettors can pick teams that they like on a particular slate. For example, bettors might like the Bucks, Warriors, and Raptors in their specific matchups:
- Nets @ Bucks -120
- Warriors +140 @ Lakers
- Wizards @ Raptors -140
They would turn these three moneylines into three two-team parlays. The benefit of doing this versus a single three-team parlay is that you don’t need all three parlays to win to collect some winnings.
| Parlay | Games | Odds | Stake | Profit |
|---|---|---|---|---|
|
Parlay 1 |
 Bucks -120 Warriors +140 |
+340 | $100 | $340 |
|
Parlay 2 |
Bucks -120 Raptors -140 |
+214 | $100 | $214 |
|
Parlay 3 |
Raptors -140 Warriors+140 |
+311 | $100 | $311 |
|
Total Stake |
$300 | |||
|
Total Potential Profit |
$865 |
|||
For example, if the Bucks-Warriors parlay hits, but the ones involving the Toronto Raptors don’t, the bettor would still collect their $340 on their $300 stake. If all three parlays hit, the bettor would walk away up $865 on a $300 stake.
Basketball parlay betting calculator
Before placing your NBA parlay betting picks, use our easy parlay calculator to see the potential payout on parlays as big as 15 different picks.
Tricks to making smarter NBA parlay picks
Now that you understand how NBA parlay bets work, here are some things to keep in mind, so you parlay your NBA wagers wisely and at the best times.
Keep games to a minimum
Pouring six games into a parlay is fun and commonplace but is nothing short of a Hail Mary that won’t cash more often than not. Furthermore, stacking heavy favorites together may seem like the right move but isn't a winning play in the long term.
The best strategy is to pick two to three games. Less often equals more.
Avoid the spread
Parlays are often known as the “square” way of betting, as you more often than not come out short. Parlays may offer enormous payouts, but that’s because winning them is rare.
Parlay betting can especially get you in trouble when it comes to the point spread because it’s hard enough to get a single game correct on the spread. When parlaying, focus on the moneyline. You can find the sportsbooks with the most favorable moneyline odds by using our NBA odds comparison tool.
Don't limit the parlay to one day
When looking at the betting card, don’t think you have to bet two games from the same slate. Often, the best value comes from betting games that aren’t even on the same day.
For example, if there’s an NBA game on Tuesday that you like and a line has already come out for one of Wednesday’s matchups, consider parlaying them if you feel confident in matchups. You can use our NBA scores and matchup page to scout the schedule for upcoming matchups.
Two-team NBA teasers
Teasers are very similar to parlays, and sportsbooks often offer them in NBA betting. In a two-team NBA teaser, bettors pick two teams on the point spread and are given points in return.
Let’s set this up by first looking at a standard parlay:
| Three-team parlay | |
|---|---|
|
Spread: |
|
|
Spread: |
|
|
Parlay |
+264 |
|
Stake |
$100 |
|
Total Return |
$364 |
Philadelphia (+1.5 @ -110)
Most sportsbooks offer four to seven points to adjust on a teaser. In this case, both teams would have a better chance of covering now. Because of this, the return would be less on a teaser than the parlay.
In this example, the teaser is four points different from the example above:
| Four-point teaser | |
|---|---|
|
Spread: |
|
|
Spread: |
|
|
Teaser |
+200 |
|
Stake |
$100 |
|
Total Return |
$300 |
NBA betting tips and strategies
Make smarter NBA bets with Covers. These guides dive into other ways you can bet on NBA action:
NBA Over/Under Betting Tips and Strategies
NBA Moneyline Betting Tips and Strategies
NBA Point Spread Betting Tips and Strategies
NBA Prop Betting Tips and Strategies
NBA Handicapping Tips and Strategies
NBA parlay bets FAQs
Yes. Even if you lose one game in your parlay, sportsbooks will grade the bet as a loss.
It all depends on what the final accumulated odds are for the parlay. If a $100 four-team parlay has +400 odds, the payout will be $400.
If the Over/Under is exact, the game is considered a ¡°push,¡± and you get your original stake back.
A round-robin parlay in basketball consists of a series of parlay bets. In this case, not every bet in a round-robin parlay needs to win for bettors to receive a payout.
