An adjustable carry bag has two end sections for releasable connection together at connecting ends thereof to form an interior space for accommodating therein at least one sport board. Each end section has a first access opening providing access into the interior space and a closed perimeter portion at the connecting end defining a second access opening providing access into the interior space different from the first access opening. In an open state, the first access opening provide access into the interior space for accommodating therein a sport board. In a closed state of the first access opening when the end sections are connected together, the bag completely encloses and securely holds therein the sport board. A coupling structure extends from the closed perimeter portion of each end section for releasably coupling the end sections together so that the closed perimeter portions and the coupling structures of the end sections encircle a preselected region of the interior space of the bag in both the open and closed states of the first access opening.