1. Parlay Bet Basketball Tournament
2. Parlay Bet Calculator
3. Basketball Parlay Bet

A parlay is a type of sports bet in which you combine multiple individual bets (typically 2-10 bets) into one bet or “card.” Combining the bets gives you worse odds to win, but a larger reward for winning. Typically, a two-pick NBA parlay has a 2.6-to-1 payout or any $100 wager gets you an extra $260. A three-pick parlay has a 6.5-to-1 payout while an 11-pick parlay has a staggering payout of 1,500-to-1 or $150,000 for any $100 wager. You can see all the odds in the table below. A parlay bet is a popular form of sports wagering most gamblers are familiar with. In case you’re not, this bet is rather easy to understand. A parlay is simply a combo bet where, rather than betting several teams individually, you group them into a single wager. Using this option, the payout is greater and the risk is less, but you need all.

Parlay betting is considered to be exotic or “specialty wagers” wherein you bet on a series of games. A parlay is a minimum of 2 games and it can go up to 12 games – depending on the online basketball sportbook and the actual sport and category being bet on. Usually all of the games have to end the way you predicted for you to win the whole parlay. Thus, if you are betting on a 4-team parlay, all 4 bets have to win. If even one of the bets is unsuccessful/lost, then the whole parlay is a loss. Why bet on them then? Well, the bigger the parlays the bigger the payout, although is also comes with a lot more risk associated with it.

Calculating Basketball Parlay Bets

* Please see illustration below to help understand parlay bets, text explanation follows.

You can parlay money lines, over/under bets, as well as spreads. We will use a money line example to demonstrate how parlays are calculated. Let us say you want to bet on two NBA games: San Antonio Spurs versus Memphis Grizzlies, and Dallas Mavericks versus Los Angeles Lakers. The odds are listed as:

Game 1

• San Antonio Spurs (+130)
• Memphis Grizzlies (-150)

Game 2

• Dallas Mavericks (+230)
• Los Angeles Lakers (-280)

Let us say you want to bet on the underdogs, San Antonio and Dallas. You are parlaying the bet, betting $100 total. If the Spurs win, then that $100 will get you a total of $230 ($130 won plus $100 bet). Then, that $230 goes into the Mavericks bet at (+230) line, getting you a total of $759 ($529 won plus $230 bet) if they win. Thus, a single bet of $100 gets you total winnings equal to $759. For that to happen in regular money lines there would have to be a huge underdog with (+659) money line, and that will actually win, which is rare to find.

You can boost your returns even more by betting on even more team-parlays, where the winnings will be accrued in the same manner as above.

Multiple Parlays

Sometimes sportsbooks can allow bettors to construct multiple parlay combos with different money lines, over/under bets, proposition bets and even with different sports. For example, you can bet on which team is going to win the NBA championship, which team is going to win in a baseball match and what will be the spread in a hockey match. However, there is a condition that the bets must not be connected with each other. For instance, if one bet is for LA Lakers beating Chicago Bulls, then you cannot also bet in a parlay if Lakers are going to become champions. To say the least, these multiple parlay bets can get very complicated. The more complicated they are, the more risky they are, and the less of a chance for you to win.

Basketball Parlay Betting Tips and Strategies

Every March, National Collegiate Athletic Association (NCAA) holds its playoffs to determine national college basketball champions. 68 games are played out over a course of three weeks. Many seasoned bettors like to parlay their bets on these NCAA playoffs. There are many games to choose from in a single game, where you can look for the best possible odds for yourselves – making it an absolutely exciting time for bettors. There are also a lot of upsets during these games, with various smaller teams beating many favorites; thus, the underdogs actually have a good chance to win. You can bet on some of them, trying to receive a larger payoff. You can also offset your underdog bets by parlaying them against a couple of strong favorites; for example, you can bet on a 4-team parlay, on two underdogs and two favorites.

Do not go Overboard With Parlays

The more parlays you bet on, the less likely you are to win. Sure, you might get high returns, however, after about 5-team parlays it gets statistically very improbable of winning a parlay. For this reason more seasoned bettors stick to 3-team parlays. In a 3-team parlay you are getting good returns and you can still get big profits. The difference is that your risks are much more manageable and you can actually win some money.

Mar 20, 2019; Salt Lake City, UT, USA; General overall view of a basketball approaching the rim and net before the first round of the 2019 NCAA Tournament at Vivint Smart Home Arena.

There are 25 college basketball games on Tuesday that the SportsLine Projection Model has simulated. It looked through expected defensive battles like Wagner vs. Merrimack (O/U: 127.5 at William Hill Sportsbook) and expected barnburners like Central Michigan vs. Toledo (O/U: 159.5). After going through those games and more, we've found three games that make for a great parlay.

The SportsLine Projection Model simulates every Division I college basketball game 10,000 times. Over the past four-plus years, the proprietary computer model has generated an impressive profit of over $2,600 for $100 players on its top-rated college basketball picks against the spread. It has also returned over $500 on all top-rated college basketball picks this season. Anyone who has followed it has seen huge returns.

Here are the Projection Model's top three picks for today's games:

Video: Betting: Baylor hoops, NDSU football upsets rock college sports this week (Yahoo! Sports)

Parlay Bet Basketball Tournament

Parlay Bet Calculator

Despite paying out $681 on a $100 bet, the SportsLine model sees this parlay winning an amazing 25 percent of the time. That works out to an expected return of $170 for a $100 bet.

Basketball Parlay Bet

West Virginia is 7-2 against the spread in its last nine games vs. teams that win more than 65 percent of games. Ball State is 2-5 against the spread in its last seven games vs. teams allowing more than 72 points per game.

Before making any individual game bets, you should visit SportsLine to see what the model is saying about West Virginia vs. Baylor, Ball St. vs. Eastern Michigan, and Wagner vs. Merrimack. Combine all three of these picks for a shot at a huge payday.