Its an age old question that is not easily answered. Parlays are a high risk, high reward style of betting so they cannot be compared directly to other forms of betting. To make an effective judgement on the worth of parlay betting, you first need to understand how to use them effectively. When employed at the right time and in the right way they are a powerful betting tool. When used indiscriminately, they are ineffective and expensive to a bettors bottom line.
A parlay is a combination of multiple wagers together into a single bet. Parlays are also sometimes known as accumulators, combo bets and multi-bets. Parlays increase the amount of money paid out for a winning bet, but it also worsens the odds. This Matchup report includes Vegas odds and a free hockey pick for tonight. Washington Capitals vs Philadelphia Flyers Prediction, 3/7/2021 NHL Pick, Tips and Odds by Parlays Pundit - 3/6/2021. Certainly if you win a parlay, your bankroll is going to look good for a while. It's probably a better idea to pick straight picks instead of parlays. It's tough enough to win games straight up, let alone pick a whole group of them together accurate. There is a reason many experts in the sports betting consider parlay.
Our Stance
Is a Parlay Bet a Good Bet? Yes, if used correctly they can be an effective way for a bettor to stake smaller than usual but access a potentially large payout through the power of compounding. Often Parlays are misunderstood, used incorrectly and leave the bettor exposed to undervalued odds when compared to the actually probability of winning.
When placing a parlay bet online, the bet slips automatically calculate your combined parlay odds, and the potential payouts once you have entered your stake. Types of parlay bets The most popular types of parlays are Against the Spread Parlays and Teasers but you can parlay many different types of bet and even a mixture of bets in the same parlay. Generally speaking, parlaying 5 teams or more teams is not a good idea; however, for sports gamblers looking for a lotto ticket, 5dimes.eu and Bookmaker.eu each offer up to 15 team parlays and have by far the best odds in the business on these. How much does a 15 team parlay pay?
Free Parlay
Why Do Some People Think Parlays Are Bad?
There are a number of reasons why bettors think they are bad. Here are two of the most common reasons:
The Wrong Bet Types Are Used
The most common belief is that Parlay offer a negative expected value. That is; the final parlay odds offered are usually less than the true probability of all the legs winning.
This is of course the case if you link together parlay legs that are in their own right poor value. The multiplier effect of parlays means that a poor ‘buy' on a bet is carried through and magnified as it is combined with other legs.
There are two particular bet types that regularly offer negative expected value to bettors. These are the point spread and over/under totals betting. Accepting odds of -110 on a 50/50 outcome is a risky past time. Nevertheless bettors are fascinated with these types of bets, so much so that they then link them together into parlays.
I mean think about it for a second. Willingly accepting -110 on a 50/50 outcome means you must win at 52.38% to break even. Blind Freddy can see that is a supremely tough ask. I still bet those markets, but I do so with the knowledge that if I don't see an edge on the number (Handicap or Points Total) then really I am just flipping a coin. If that's what I am doing, then I don't like my chances of winning 52.38% of the time.
Now armed with that knowledge go and throw those bet types into a parlay and you are creating a mountain to overcome just to break even.
The Wrong Staking Strategy is Used
Parlays are a different breed and require a different staking strategy. The Risk/Reward ratio can vary greatly from parlay to parlay depending on the included legs. Bettors who have a poor grasp on bet sizing will typically over bet on parlays, enticed by the carrot of a large bankroll boosting payout. Sadly this critical error can lead bettors on the short path to bust city.
The stories of going bust lead bettors to think Parlays betting is the issue. In actual fact the staking strategy is to blame but self reflection is hard, so that gets overlooked.
The Bottom Line: Parlays are not bad. Bettors are bad at using them. Learn how to use them effectively and they suddenly become a key piece of any bettors repertoire. After all sharp bettors who make a living from betting still use parlays. They just have the know how.
If Parlays are Bad, Then Why Are They Popular?
1 ) Undeniably Fun
There is no doubting Parlays are a lot of fun. Action is spread across a number of events so bettors feel invested in many outcomes. A well timed parlay can turn a Sunday afternoon NFL slate into an 8 hour long betting ride.
Parlays also offer a roller coaster ride of emotions. Those bettors with a love (maybe even addiction) to the extreme emotions that come with betting on sport, go looking for opportunities to get it all on the line to win big. Parlays provide that in a fun and entertaining way.
What can be more fun than having the last leg of a parlay live and being able to watch every play unfold. The big plays feel so much bigger and small moments become parlay altering events.
2) Lure of a Big Payout
Big payouts truly are the stuff of dreams. I mean why else are lotteries so popular. It has everything to do with the big prize and nothing at all to do with the probability of winning. After all if you looked closely at the true probability of your numbers coming up you might think again about buying a ticket in the lottery.
Bet online in the usa.
The lottery has some similarities with parlay betting (although done right you can certainly push the odds in your favor). The chance at hitting double figure times returns, or higher, can be enough to get a bettor to throw that money down.
To a bettor who is having a tough run, a big payout can be the thing that gets their bankroll back on track. The magic bullet, the panacea, the secret sauce. Parlays appear to provide bettors with an opportunity to chase losses without staking above the norm. Of course more often than not the execution leaves the bettor short handed anyway.
A poorly executed parlay makes it more like a hail mary than a strategy, again much like the lottery. Nevertheless the lure big money is the drawcard.
3) Small Stakes Equals Low Entry Level
The ability to get action on a parlay for a relatively small stake (eg a quarter of a unit) but not sacrifice the chance of a big return provides bettors with a cheap entry point to this form of betting.
The small stake entry point equates to a low risk high reward scenario. Something all bettors are constantly on the looking for.
For a bettor who simply can't afford a lavish bankroll parlays are the way to get action on many events affordably. For instance across 4 college football games at the one time when the bankroll simply doesn't have the capacity to cover those four games individually.
Small stakes makes parlays the bet type of the people!
4) Parlays are Actively Encouraged by Sportsbooks
Sportsbooks are in the business of making money and lets be honest, they are very good at it. They know that parlay betting is misunderstood and misused by the general betting public. Therefore they actively encourage bettors to invest in this bet type.
There are constantly promotions available on parlay betting at virtually every online or mobile sportsbook. In fact they are usually very generous promotions that I recommend you make the most of.
Promoting parlays is a way for sportsbooks to give bettors experience with these kinds of bets so that they continue to bet them when the promotions are not offered. They are a way to lure recreational bettors and bettors who are true ‘every now and then' type clients to bet them.
Active promotion of parlays has the desired effect, if makes them a high traffic bet type.
Increasing numbers of states are moving to online sales of lottery tickets. It was long believed that the Federal Wire Act made it illegal to sell lottery tickets online, but as states come under increasing financial stress despite ever-increasing taxes, lawmakers are under tremendous pressure to. In a nutshell, playing or buying online lottery tickets is completely legal in most countries. But for countries such as the United States that have anti-gambling measures in place, it can be extremely confusing for players. In 2011 the DOJ ruled that the Federal Wire. Legal Online ScratchOff Lottery Tickets. Reviewing the best online lottery scratchoff sites that are legally licensed to accept USA players. Since the dawn of mankind, people have found ways to gamble. History shows us that even in ancient civilizations like Egypt and China and Rome, people gambled on a wide variety of games. Buying lottery tickets online is perfectly legal in the United States. In 2011, the DOJ released a formal opinion stating that the Federal Wire Act only applied to sports betting and did not affect other forms of online gambling, including lottery games. Online lottery tickets legal.
5) They Make a Good Story
This my friends is almost the biggest reason why parlays are so popular. At the end of the day a bettor who lands a big one has bragging rights for days. They have a war story to tell that points to their ‘expertise' as a bettor.
I mean, surely if someone is talking about how they pulled of a 5 leg parlay on last night's games then they must be a master bettor right? Well probably not but it makes a great story!
Come Super Bowl or NBA Championship time the media loves to find a fairytale story of someone needing the big game to fall their way as the last leg of some life changing parlay. It creates some hype and it certainly encourages average Joe to get out there and invest in a parlay or five of his own.
Big parlay wins are also a huge talking point on social media like Reddit or Twitter. Social media is an ego driven platform at the best of times so pulling of a huge parlay is great ammunition for some ‘look at me' posts. This alone makes them popular.
Heck, even a bad beat parlay makes a good story. A story of heartbreak is a ticket to the sports betting club. A battle scar to show that you have been to the front line and earned your stripes. Much like falling of your horse makes you a bona fide member of the pony club, an unbelievable parlay bad beat is a story worth telling.
The Parlay Mistake To Avoid
There is one huge error that many bettors unknowingly make when betting parlays. Check out this video and avoid making that error yourself!
How Can You Make Parlays Work?
Parlays can be an effective style of betting and you can make money betting them. If you are ready to turn your parlay betting into one of the great strengths of your betting then you MUST read this article:
The Game Starts Now!
Betting parlays is not some sin for which you need to repent. Like all betting styles once you get your head around how to bet them effectively they can be a positive addition to your betting repertoire. Check them out just be smart about the way you do it.
Good Luck and as always Bet Responsibly!
A parlay bet is a popular form of sports wagering most gamblers are familiar with. In case you're not, this bet is rather easy to understand. A parlay is simply a combo bet where, rather than betting several teams individually, you group them into a single wager. Using this option, the payout is greater and the risk is less, but you need all teams selected to win.
To give an example, say you're interested this week in betting Jets -4, Patriots +3, Dolphins +2.5 and Colts -7. If your bankroll is limited to just $100, using straight wagers you'd make four separate bets of $25 to win $22.73. If you we're feeling both lucky and in the mood to gamble, you might instead bet them all together as a four team parlay. Under the parlay option, the stakes would be $100 to win at least $1,000. To win, you'll need to go 4-0; if one or more games push while all others win, the payout is reduced, and with any other outcome, the bet is a loss.
What happens if there's a push in a parlay? That bet will be taken out of the parlay and the payout will be reduced as if there were one fewer team in the parlay. So if you had a 4 team parlay and you got three picks cocrrect and the other was a push, you would be paid out the odds of a 3 team parlay.
Parlay bets can be very tempting as they can offer some big payouts. See a recent parlay Kevin made at 5Dimes.eu and cashed in on!
Are Parlays Sucker Bets?
Free Parlay
Why Do Some People Think Parlays Are Bad?
There are a number of reasons why bettors think they are bad. Here are two of the most common reasons:
The Wrong Bet Types Are Used
The most common belief is that Parlay offer a negative expected value. That is; the final parlay odds offered are usually less than the true probability of all the legs winning.
This is of course the case if you link together parlay legs that are in their own right poor value. The multiplier effect of parlays means that a poor ‘buy' on a bet is carried through and magnified as it is combined with other legs.
There are two particular bet types that regularly offer negative expected value to bettors. These are the point spread and over/under totals betting. Accepting odds of -110 on a 50/50 outcome is a risky past time. Nevertheless bettors are fascinated with these types of bets, so much so that they then link them together into parlays.
I mean think about it for a second. Willingly accepting -110 on a 50/50 outcome means you must win at 52.38% to break even. Blind Freddy can see that is a supremely tough ask. I still bet those markets, but I do so with the knowledge that if I don't see an edge on the number (Handicap or Points Total) then really I am just flipping a coin. If that's what I am doing, then I don't like my chances of winning 52.38% of the time.
Now armed with that knowledge go and throw those bet types into a parlay and you are creating a mountain to overcome just to break even.
The Wrong Staking Strategy is Used
Parlays are a different breed and require a different staking strategy. The Risk/Reward ratio can vary greatly from parlay to parlay depending on the included legs. Bettors who have a poor grasp on bet sizing will typically over bet on parlays, enticed by the carrot of a large bankroll boosting payout. Sadly this critical error can lead bettors on the short path to bust city.
The stories of going bust lead bettors to think Parlays betting is the issue. In actual fact the staking strategy is to blame but self reflection is hard, so that gets overlooked.
The Bottom Line: Parlays are not bad. Bettors are bad at using them. Learn how to use them effectively and they suddenly become a key piece of any bettors repertoire. After all sharp bettors who make a living from betting still use parlays. They just have the know how.
If Parlays are Bad, Then Why Are They Popular?
1 ) Undeniably Fun
There is no doubting Parlays are a lot of fun. Action is spread across a number of events so bettors feel invested in many outcomes. A well timed parlay can turn a Sunday afternoon NFL slate into an 8 hour long betting ride.
Parlays also offer a roller coaster ride of emotions. Those bettors with a love (maybe even addiction) to the extreme emotions that come with betting on sport, go looking for opportunities to get it all on the line to win big. Parlays provide that in a fun and entertaining way.
What can be more fun than having the last leg of a parlay live and being able to watch every play unfold. The big plays feel so much bigger and small moments become parlay altering events.
2) Lure of a Big Payout
Big payouts truly are the stuff of dreams. I mean why else are lotteries so popular. It has everything to do with the big prize and nothing at all to do with the probability of winning. After all if you looked closely at the true probability of your numbers coming up you might think again about buying a ticket in the lottery.
Bet online in the usa.
The lottery has some similarities with parlay betting (although done right you can certainly push the odds in your favor). The chance at hitting double figure times returns, or higher, can be enough to get a bettor to throw that money down.
To a bettor who is having a tough run, a big payout can be the thing that gets their bankroll back on track. The magic bullet, the panacea, the secret sauce. Parlays appear to provide bettors with an opportunity to chase losses without staking above the norm. Of course more often than not the execution leaves the bettor short handed anyway.
A poorly executed parlay makes it more like a hail mary than a strategy, again much like the lottery. Nevertheless the lure big money is the drawcard.
3) Small Stakes Equals Low Entry Level
The ability to get action on a parlay for a relatively small stake (eg a quarter of a unit) but not sacrifice the chance of a big return provides bettors with a cheap entry point to this form of betting.
The small stake entry point equates to a low risk high reward scenario. Something all bettors are constantly on the looking for.
For a bettor who simply can't afford a lavish bankroll parlays are the way to get action on many events affordably. For instance across 4 college football games at the one time when the bankroll simply doesn't have the capacity to cover those four games individually.
Small stakes makes parlays the bet type of the people!
4) Parlays are Actively Encouraged by Sportsbooks
Sportsbooks are in the business of making money and lets be honest, they are very good at it. They know that parlay betting is misunderstood and misused by the general betting public. Therefore they actively encourage bettors to invest in this bet type.
There are constantly promotions available on parlay betting at virtually every online or mobile sportsbook. In fact they are usually very generous promotions that I recommend you make the most of.
Promoting parlays is a way for sportsbooks to give bettors experience with these kinds of bets so that they continue to bet them when the promotions are not offered. They are a way to lure recreational bettors and bettors who are true ‘every now and then' type clients to bet them.
Active promotion of parlays has the desired effect, if makes them a high traffic bet type.
Increasing numbers of states are moving to online sales of lottery tickets. It was long believed that the Federal Wire Act made it illegal to sell lottery tickets online, but as states come under increasing financial stress despite ever-increasing taxes, lawmakers are under tremendous pressure to. In a nutshell, playing or buying online lottery tickets is completely legal in most countries. But for countries such as the United States that have anti-gambling measures in place, it can be extremely confusing for players. In 2011 the DOJ ruled that the Federal Wire. Legal Online ScratchOff Lottery Tickets. Reviewing the best online lottery scratchoff sites that are legally licensed to accept USA players. Since the dawn of mankind, people have found ways to gamble. History shows us that even in ancient civilizations like Egypt and China and Rome, people gambled on a wide variety of games. Buying lottery tickets online is perfectly legal in the United States. In 2011, the DOJ released a formal opinion stating that the Federal Wire Act only applied to sports betting and did not affect other forms of online gambling, including lottery games. Online lottery tickets legal.
5) They Make a Good Story
This my friends is almost the biggest reason why parlays are so popular. At the end of the day a bettor who lands a big one has bragging rights for days. They have a war story to tell that points to their ‘expertise' as a bettor.
I mean, surely if someone is talking about how they pulled of a 5 leg parlay on last night's games then they must be a master bettor right? Well probably not but it makes a great story!
Come Super Bowl or NBA Championship time the media loves to find a fairytale story of someone needing the big game to fall their way as the last leg of some life changing parlay. It creates some hype and it certainly encourages average Joe to get out there and invest in a parlay or five of his own.
Big parlay wins are also a huge talking point on social media like Reddit or Twitter. Social media is an ego driven platform at the best of times so pulling of a huge parlay is great ammunition for some ‘look at me' posts. This alone makes them popular.
Heck, even a bad beat parlay makes a good story. A story of heartbreak is a ticket to the sports betting club. A battle scar to show that you have been to the front line and earned your stripes. Much like falling of your horse makes you a bona fide member of the pony club, an unbelievable parlay bad beat is a story worth telling.
The Parlay Mistake To Avoid
There is one huge error that many bettors unknowingly make when betting parlays. Check out this video and avoid making that error yourself!
How Can You Make Parlays Work?
Parlays can be an effective style of betting and you can make money betting them. If you are ready to turn your parlay betting into one of the great strengths of your betting then you MUST read this article:
The Game Starts Now!
Betting parlays is not some sin for which you need to repent. Like all betting styles once you get your head around how to bet them effectively they can be a positive addition to your betting repertoire. Check them out just be smart about the way you do it.
Good Luck and as always Bet Responsibly!
A parlay bet is a popular form of sports wagering most gamblers are familiar with. In case you're not, this bet is rather easy to understand. A parlay is simply a combo bet where, rather than betting several teams individually, you group them into a single wager. Using this option, the payout is greater and the risk is less, but you need all teams selected to win.
To give an example, say you're interested this week in betting Jets -4, Patriots +3, Dolphins +2.5 and Colts -7. If your bankroll is limited to just $100, using straight wagers you'd make four separate bets of $25 to win $22.73. If you we're feeling both lucky and in the mood to gamble, you might instead bet them all together as a four team parlay. Under the parlay option, the stakes would be $100 to win at least $1,000. To win, you'll need to go 4-0; if one or more games push while all others win, the payout is reduced, and with any other outcome, the bet is a loss.
What happens if there's a push in a parlay? That bet will be taken out of the parlay and the payout will be reduced as if there were one fewer team in the parlay. So if you had a 4 team parlay and you got three picks cocrrect and the other was a push, you would be paid out the odds of a 3 team parlay.
Parlay bets can be very tempting as they can offer some big payouts. See a recent parlay Kevin made at 5Dimes.eu and cashed in on!
Are Parlays Sucker Bets?
There is a general misconception in sports betting that all parlays are sucker bets. This is simply because most sports bettors are not familiar with how they work, or how to bet them properly. In this article, I'll address parlay betting strategies, but first let's look at parlay odds and how they are calculated.
The parlay odds at most Las Vegas sportsbooks are:
2 teams 2.6 to 1
3 teams 6-1
4 teams 10-1
5 teams 20-1
6 teams 40-1
7 teams 80-1
8 teams 150-1
Online the odds are similar, though some sites such as BetNow and MyBookie offer better odds starting with three teams and up. What's important to note is that these are fixed odds based on a 50/50 wagering proposition. If a spread is listed at Home Team -7 / Road Team +7 this is 50/50 proposition. If, instead, the spread was Home Team -7 -105 / Road Team +7 -115, this is no longer a 50/50 proposition, and the payout will be calculated using a method bookmakers refer to as 'true odds'. I'll cover that later in this article, but first let's take a moment to understand where fixed parlay odds are derived from.
Let's say you decide for the next eight weeks you're going to bet the Monday night football game, starting with a $1.00 bankroll and betting your entire bankroll each week until you go 8-0 or bust. The potential win is as follows:
Week 1: $1.00 to win $0.91: If win total profit = $0.91 (Bankroll =$1.91)
Week 2: $1.91 to win $1.74: If win total profit = $2.65 (Bankroll =$3.65)
Week 3: $3.65 to win $3.32: If win total profit = $5.97 (Bankroll =$6.97)
Week 4: $6.97 to win $6.34: If win total profit = $12.31 (Bankroll =$13.31)
Week 5: $13.31 to win $12.10: If win total profit = $24.41 (Bankroll =$25.41)
Week 6: $25.41 to win $23.10: If win total profit = $46.51 (Bankroll =$47.51)
Week 7: $47.51 to win $43.19: If win total profit = $89.70 (Bankroll =$90.70)
Week 8: $90.70 to win $82.45: If win total profit = $172.15 (Bankroll =$173.15)
The reason parlays are often sucker bets shows up in this middle column. Had you bet these in an 8 team parlay, you'd only get paid 150 to one. Essentially, a parlay is no different than betting all in each time, only parlays generally pay much worse. However, you'll notice the odds are not poor until you get to four teams, where the sportsbook has a whopping 31.25% advantage. Two teams pay a smidgen worse than the manual parlay (all in each time) option, where three team parlays pay a smidgen better. Rarely ever is a 2 or 3 team parlay a true suckers bet.
What Does a Parlay Pay?
As I mentioned earlier, fixed parlay odds vary greatly between online sportsbooks. Here is some info on which sites offer the best fixed parlay odds:
In general two team parlays pay +260, or $260 for every $100 bet. BetNow offers +264.5, and 5Dimes.eu offers +264, which is better than the +260 most betting sites offer.
3 team parlays pay 6/1 or $600 for every $100 bet. BetOnline.ag is the leader in the industry in 3 team parlay payouts.
This is the area where betting sites generally hurt the sports bettor, paying only 10 to 1, which gives them a 31.25% advantage. This can be avoided when betting at BetNow where the payout is +1228.3, or at 5Dimes where it is +1228.
Generally speaking, parlaying 5 teams or more teams is not a good idea; however, for sports gamblers looking for a lotto ticket, 5dimes.eu and Bookmaker.eu each offer up to 15 team parlays and have by far the best odds in the business on these.
How much does a 15 team parlay pay? A 15 team parlay will pay out over +16,000. I just tested this out and a $1 15 team NFL parlay at -110 odds will payout $16,306. Good luck hitting on that!
True Odds Parlays
1 Earlier, I mentioned fixed odds are only given when all selections are 50/50 propositions. If one side of a line requires a greater stake than the other to yield the same payout, this is not a 50/50 proposition, and the bookmaker will now use 'true odds'. What's important to note is that true odds doesn't actually mean the 'true odds' of winning. Rather, true odds pays the same as if you bet each team individually and rolled the profit forward each time, which is what I showed in the example of 8 all in bets starting with a $1.00 stake.
To calculate true odd parlays, each bet first needs to be converted into a multiplier. To do this, take what a winning ticket would return and divide it by the amount risked. For example, at -110 a $110 stake returns $210 ($110 stake + $100 win). Calculating the multiplier as return/risk here, we plug in 210/110, which means the multiplier is 1.91. If we did the same on -115, the multiplier is 215/115=1.87.
Let's say you're in the mood to gamble on an 8 team parlay, but the only out available to you is a bookmaker paying 150-1 fixed odds. A trick of the trade here is to include one bet that is priced differently than -110 in order to force the bookmaker to use true odds. So, let's say you make 7 selections priced at the standard -110 pricing and one at -115. A true parlay calculates by multiplying each modifier together. The math is 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.87, which equals 173.41. This bet returns 173.41 times the stake, which includes the risk amount, so the bet is 1 to win 172.41. Notice this is significantly better than the fixed odds payout of 1 to win 150 on an 8 team parlay. In short, the trick of the trade when dealing with poor fixed odds is to simply add one team to the parlay that is priced differently than the standard -110.
Top Parlays Today
As you can now see, if you know how to bet parlays properly, they are not always sucker bets. There are, however, a few reasons that parlays are generally not a good move. I'll cover these, and then cover the times it does make sense.
Best Parlay Picks
Top Reasons to Avoid Parlays
1) Progressive betting systems are generally regarded as poor strategy for both bankroll management and bankroll growth. Professional bettors make wagers based on their quantified edge per game. While the math can work out, doing the math for proper bet sizing on a parlay is a lot of added work with little to no upside for most sports bettors.
Full tilt poker net. 2) Parlay bets have higher variance than straight bets. Here you're getting the same odds, but your chance of hitting a dry spell is greatly increased. When the odds are the same it is most often better to go with the lower variance option, which in this case is straight wagers.
3) Line Shopping – Sports bettors maximize their profit by always shopping for the best price. For example, finding -4 when other sites are -4.5, and finding reduced vig options such as -104 instead of -110. When betting parlays, you'll need to find the most favorable odds for each team at a single betting site. This scenario is rare, so generally you'll end up with better odds by making straight wagers at multiple betting sites.
Good Parlays For Tonight
Parlays That Make the Most Sense:
Reduced Juice – BetOnline.ag offers 6.5 to one on three team parlays. This comes out better than betting sides at the -105 price standard reduced juice sports books offer. In sports such as NFL football where 50/50 wagering propositions are common, a sports bettor gets far superior odds by betting 3 team parlays at BetOnline.
Correlated Parlays – If a bookmaker was offering betting lines on both 'will it be cloudy today?' and 'will it rain today?', if allowed, you'd be much better off betting either both as no, or both as yes, in a parlay bet as opposed to straight wagers. While this is a simplified example, there are plenty of times when outcomes are correlated in sports betting. For example, a handicapper might determine that if one team covers the spread, the game is more likely to go over or under the posted total. Also, during the final week of the NFL season, a certain team winning or losing the day game might result in a previously important night game now having no meaning in the playoff race.
Free Play Bonuses – Several online betting sites, for example BetNow, offer players free bets based on the size of their initial deposit. Free play bonuses are not the same as cash. The difference is that a bet made with cash returns both stake and win, where a bet made with a free play returns only win. Parlays allow you the chance to use the same free play more than once, because a parlay really is only a wager that continues to place stake+win on the next selection. Remember, fixed odd three team parlays pay a little better than true odds. So when using free plays to bet 3 team parlays, you're getting slightly better odds, and also a chance to apply that free play stake to three different bets. This is common knowledge that 3 team parlays are a great use of free play bonuses.
Circumventing Betting Limits – I'll warn you upfront that betting sites do not take kindly to this, and it might get you banned. The basic idea here is, say you find a parlay with monster value in a small market with low betting limits. Let's say a woman's field hockey line opens at +150 when it should be +100. Here making ten unique two-team parlays, using the +150 bet with a random -110 each time might be advantageous, as on average you'll get down 5 times the max bet. At -110 juice the expected ROI is less, but to get the maximum amount down on line of significant value, it might make sense. While personally I rarely use this strategy online, I do attempt to get away with it in Las Vegas from time to time. This takes a little bit of acting, such as starting to walk away from the cage and then saying wait, also give me… Know this: It is a trick of the trade advantage players use that is not for novice bettors.
This concludes our article on parlay betting. As a final tip: if you enjoy using parlays as a lottery ticket, www.Bovada.lv runs a $10,000 weekly parlay jackpot during football season, which is an added bonus on top of what a $5 stake pays on a 10 team parlay win. To learn more, see the promo section at www.Bovada.lv. If nothing else, this article gives you some great conversation material next time someone in the sports bar says, parlays are for suckers. Hopefully, it ends up being much more than that, adding extra winnings to your bankroll. Either way, we wish you the best of luck.
Other Advanced Sports Betting Strategy Articles:
» Teaser Betting Strategy
» Prop Betting Strategy
» How To Get Max Value When Betting
