A parlay bet is certainly one of the most thrilling ways to gamble in the modern day, as it can be a sure fire way to benefit from better odds and such an edge-of-your seat experience that can excite and delight. Understanding parlay betting strategy can be of real benefit to your gambling game, and thankfully this guide covers everything that you need to know about parlay gambling and it’s pros and cons. There’s no time like the present to better understand parlays, so if you’re interested in learning more then simply read on now!
What is a parlay bet?
Various locations around the world call parlays totally different names, including things like ‘accumulators’ or even ‘multis’ in some cases, but no matter what they are referred to as, the concept behind such bets is actually fairly simple. A parlay bet combines a number of wagers into one lone bet by essentially rolling over any winnings that you collect from every individual wager together before entering it into the following wager. It’s important to note that each individual bet within the parlay has to win for the bet to be a success. You can combine different games, sports and betting options within one parlay scheme, so you can bet on a number of leagues and matches from NFL to eSports.
Types of parlay bet
There are several different types of parlay bet that you can choose to participate in to up your gambling game. These include:
- Over/under – This wager is put on the total amount of points scored at any given game by both of your chosen teams. Such bets involve the sportsbook establishing a ‘line’ (a number) which you will base your wager on. Essentially, you bet whether the total points scored will either be over or under this line.
- Point spreads – Point spreads level the betting field for both participating teams by removing points from the favoured team so that they can then be passed over to the underdog to level things out.
- Teasers – A teaser bet allows you to move the spread in a way which favours you, the bettor. In most cases the bet can actually be moved between 6 to 7.5 points. A teaser parlay does offer a smaller payout, but it still improves your odds dramatically.
- Moneyline – Moneyline bets get rid of the point spread, as they are based solely on who wins or loses the event. Since it’s a very straightforward bet, your profits may not be the highest when betting for the most popular team. However, if you predict a surprise win from an underdog you can manage to generate a massive profit.
Advantages and disadvantages of parlay betting
There are a number of worthwhile advantages that can come with placing parlay bets, as well as a limited number of disadvantages that you should be aware of.
Advantages include:
- Increases your chances of winning a large amount money from a smalker stake
- Doesn’t require constsnt consistency for you to actually generate a profit
- You can cover multiple sports or games with one easy betting strategy
- It’s considerably thrilling and can be a very fun way to bet
Disadvantages include:
- Returns on successful yet favourable bets will not be particularly high
- You can potentially go on a long run without winning due to the fact that one failure means total failure
Frequently Asked Questions
What happens to my parlay bet if the game gets cancelled?
If your game gets cancelled, then the bet will not be graded as a loss. Instead, the leg that has been cancelled will simply be removed from the parlay, but this will lower the odds slightly. You cannot lose the parlay until one of your team’s or player actually loses the game, no matter if it’s cancelled or pushed. You don’t need to worry about cancelled games, as bookmakers understand that this is totally out of your control and you should not be effected as a result.
How does a parlay bet payout?
- 2 team parlay payout – such parlays generally payout at +264. If you choose two favourable teams, you’re unlikely to get much profit. The odds will be influenced by the moneyline attached to your wager
- 3 team parlay payout – higher than a 2 team wager due to the increasing difficulty of winning the 3 different bets. Standard odds would payout at around +600
- 4 team parlay payout – odds are much higher for 4 teams, as you can expect a standard number to achieve +1200 odds
- 5 team parlay payout – the odds from a 4 to 5 parlay generally double, with payouts up to +2400. Your chances of achieving 5 wins is slim, but it can provide your bankroll with a real boost
- 6 team parlay payout – with a payout at a an enormous +4700, it’s obvious that 6 team parlays are the most profitable. However, they are also a very tough wager to win, so luck needs to be on your side to reap the rewards
Are parlays a good betting strategy?
If you choose to use parlays, you must accept that you may not win as frequently as a more conservative wager. These bets are more difficult to achieve, but this is something that is recognised in the winnings that you can expect to benefit from. You might only win one parlay bet yet still attract a great payday, meaning you can be in profit for the entire year. If you can take the time to understand the ins and outs of the sports that you are betting on and do not have the false illusion that you will becone a millionaire with your parlay betting efforts, then this type of wager can be a great way to gamble.
Conclusion
Pursuing a parlay betting strategy could provide you with a respectable payout. But, it’s always a good idea to read up on parlay betting tips beforehand to increase your chances of success, as understanding the ethos and background of parlays can help you to come out on top.