NBA Parlay Betting Guide
Build smarter parlays with better odds
What Is a Parlay?
A parlay combines multiple bets into one wager. All selections must win for the parlay to pay out. The upside? Much higher potential payouts. The downside? One loss kills the entire bet.
Example 3-Team Parlay
- Lakers -4.5 (-110)
- Warriors ML (-150)
- Celtics/Heat Over 218 (-110)
$10 bet pays approximately $50 (all three must hit)
Parlay Payouts
| Legs | Approx. Payout | Win Probability* |
|---|---|---|
| 2-team | 2.6x | ~25% |
| 3-team | 6x | ~12.5% |
| 4-team | 12x | ~6.25% |
| 5-team | 25x | ~3% |
*Assuming 50% win rate per leg
Same-Game Parlays (SGPs)
Same-game parlays combine multiple bets from a single game. Popular with sportsbooks like DraftKings and FanDuel.
SGP Example
- Lakers to win
- LeBron 25+ points
- Game total Over 220
Note: Correlated outcomes can work for or against you. If Lakers win big, LeBron likely scored well.
Parlay Strategies
1. Correlated Parlays
Combine bets that logically connect. Example: Team to win + star player points Over. If one hits, the other is more likely.
2. Keep It Small
2-3 leg parlays offer the best risk/reward. 5+ leg parlays rarely hit despite the allure of big payouts.
3. Avoid Heavy Favorites
Stacking -300 favorites barely improves your payout but adds significant risk. One upset ruins everything.
4. Mix Bet Types
Combine spreads, totals, and moneylines to diversify your parlay exposure.
Smart Parlay Tips
- Max 3 legs for best win probability
- Use correlated bets when possible
- Bet small amounts – parlays are high variance
- Consider “parlay insurance” promos from sportsbooks
When NOT to Parlay
- Unrelated events: Combining random games adds no value
- All favorites: Risk doesn’t match reward
- More than 4 legs: Math is heavily against you
- Chasing losses: Parlays aren’t a recovery tool
Build Your Parlays
Check our daily picks for high-confidence selections to build parlays, or find the best parlay odds at our recommended sportsbooks.
Build Your First Parlay
BetMGM offers parlay insurance and weekly NBA parlay boosts. Start with protection.
Disclaimer: Sports betting involves risk. Parlays are high-variance bets. Only bet what you can afford to lose. If you or someone you know has a gambling problem, call 1-800-GAMBLER.