An NBA parlay betting refresher and how bookies profit
So far, so good, for the NBA’s plan to restart their 2020 season. Betting on the NBA is the second most popular sportsbook revenue-generating activity.
Only football rivals NBA wagering. Although many bookies have thrived during the sports shutdown by offering a digital casino, a racebook, and a live dealer casino, all bookmakers welcome a real sport’s return.
The National Basketball Association, from the first game in the bubble to the final match of the 2020 NBA Finals, should produce substantial wagering profits. One of the ways that bookies can profit is on parlay wagers.
Parlays on NBA games can be challenging to manage. The pro basketball league sets lines that astute hoops handicappers are more than capable of exploiting.
Pay per head agents must understand how to manage basketball parlay wagers in their books. By doing so, they can ensure profit once the league heads to the Orlando bubble.
What is a parlay?
How does a bookie make money on parlays? Before understanding that, we must first understand the parlay bet. A parlay bet includes at least two specific outcomes.
Players lose the parlay unless all outcomes happen. For every successful player wager, Bookies must pay above even money.
We determine parlay payouts based on a payout table. Here’s a typical payout table.
- 2-Team Parlay – 2-to-1
- 3-Team Parlay – 3-to-1
- 4-Team Parlay – 10-to-1
- 5-Team parlay – 20-to-1
The chances of anybody playing a parlay larger than a 5-teamer doesn’t often happen. Risk versus reward determines whether players wager on a parlay.
Parlays are like casino bets. Think of a parlay like a roulette table. The more difficult chances to hit do pay more than more straightforward wagers. A 4-teamer pays more than a 2-teamer.
The reward on the 4-teamer, or even the 2-teamer, doesn’t justify parlay wagers, though. That’s why, in most cases, Pay Per Head agents should encourage parlays in our sportsbooks.
NBA Parlay Betting can Hurt Your Sportsbook
National Basketball Association pph sportsbook parlay betting is an exception to that rule. Experienced sportsbook software bookies know this.
That’s why per head agents set up their books to prevent pro hoops bettors from dominating their books. How do professional players exploit parlay betting on NBA games?
In any game of chance, there’s a rule that applies. The more skill involved, the lower the random factor.
On the roulette table, randomness reigns. There’s no actual skill involved.
Casino players must know how to make wagers. They must know the odds involved on each wager. If they bet on a specific number, they must understand that it pays 35-to-1.
They must know that betting four numbers pays 8-to-1. But in roulette, knowing what wagers to make is where skill ends.
Sports bets require a lot more skill. Professional sports bettors factor all sorts of things into their wager.
The more factors players use to create parlays, the lower the randomization effect. Expert NBA handicappers are better at creating parlay wagers than any other expert gambler on a specific sport.
How to eEnsure You Profit From Pro Hoops parlay Betting
Bookie agents control parlay pros by using sports betting software. The key is to 1) promote specific NBA parlays, 2) disallow moneyline bets as part of parlay wagers, 3) set max betting limits on parlays, and 4) only offer parlay bets up to 4-teams.
- Promote specific NBA parlays – Bookies can choose four NBA games for a special, promoted, parlay bet. Ensure your players wager on the promoted parlay by offering a 5% rebate if they lose the parlay.
- Don’t let players put moneyline NBA bets into their parlays – Cagey sportsbook bettors boost parlay profits with moneyline wagers.
- Set max betting limits on parlays – This is common sense. Don’t allow your players to wager more than $100, $200 at the most, on any parlay.
- Offer parlay bets up to 4-teams, but that’s it – A $100, 4-team parlay bet pays $1,000.
Rules depend on what sort of sportsbook you run. If you have a lot of players, by all means, increase limits on parlays.
Bookies call parlays “sucker bets” for a reason. But don’t get your book into hot water. Be smart about how you manage your sportsbook.
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The NBA is about to return. Adding 15% on your friends’ deposits on top of what you gain from parlay NBA bets could make this a profitable summer.