I've been in rec games were a form of sudden death was used, but it was always the first 5 points scored. Winning on a free throw is cheesy, as is the first basket. Just my 2 cents.
5 points is 2 possessions at minimum (save an INT on a made trey). If time is a concern, try 4 or 5 points and 2 minutes on the clock - and whichever comes first will declare the winner.
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Pope Francis
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