Parlay Betting in Basketball
There are a number of basketball bets that betting fans can place for the game. One of them is the parlay bet. Basketball parlay bet could be described as a specialty or exotic bet. Here, rather than betting on a single game, the player bets on a series of basketball matches. The participating teams in a basketball parlay can range from 2 teams to as many as 12.
How Parlay Bets Work
Parlay bets present a higher risk due to their very structure. For the bettor to win a parlay bet, all the participating basketball teams must either cover the spread or win straight. This depends on the terms for the parlay bet. Even if one team loses its game, the parlay bet is lost and the player will lose all his money. However, parlay bets can be quite profitable for someone who knows what he is doing.
Regulars at basketball betting prefer parlay bets since they allow the player to bet on multiple games for reduced entry fees. Rather than betting $100 on ten different games, they prefer to bet $1000 on ten teams with a parlay bet that offers better odds than those offered by the ten games put together. However, all said and done, parlay bets are a risky business. Here are some variations of the basketball parlay you will find online:
Combo Bets and Multiples
Parlay bets are also called combo bets or multiples according to how the bets are structured. While it is fairly common to have a parlay bet with anything between two and 12 basketball games, parlay bets can be made on 12 games from different sports. In other words, this kind of a parlay bet combines a number of different sports to make up the 12 games on which you can bet. The only condition for the combo parlay bets is that there should not be any connection between the bets. For example, if you bet that team A will beat team B in a NBA basketball match, you cannot bet that Team A might also win the NBA title at the finals.
Progressive Basketball Parlay
The progressive basketball parlay is a relatively new concept that is being offered by a few online sports betting sites. Under this kind of bet, the player does not go empty handed; he is allowed to take home the amount of his bet even if some of his wagers in the parlay bets do not win. However, the payouts for the progressive basketball parlay are adjusted to accommodate 2 or even three betting selections not coming through. The player must choose at least four teams in order to construct a progressive basketball parlay. The only condition for progressive parlay bets is the individual bets must carry a point spread; they cannot be a money line wager.
Basketball Parlay Playoffs
In this type of parlay betting, the payouts are adjusted in case the outcome for one of the bets is a push or tie. The payouts will be proportionally reduced depending on the number of games that have been a draw. Suppose the parlay is structured for 10 games, it could be reduced to a 9 or 8 game parlay. The NCAA basketball games are particularly suited to playoff parlays, since there are usually around 55-60 games are played over the three weeks that the games are on. With the new college basketball teams making their debut during this time, there is potential for changing the course of the betting odds. Generally, it is recommended that people bet both the point spread as well as the over/under bets to maximize their earnings from parlay bets.
