Parlay Betting Strategy Guide

Parlay Betting Strategy Guide – How To Win With Parlay Betting? Online sports wagering could be a gigantic industry, and it’s not going absent anytime before long! It includes wagering on all sorts of sports, indeed video amusement competitions. There are bounties of wagering openings nearby the typical single coordinate bets.

50% up to $1,000

50% Up to $250

50% up to $1,000.

50% up to $1,000

Nowadays, we’re aiming to center on something along those lines. As the title recommends, we’re here to examine parlay wagering, a prevalent sort of wagering with more prominent hazards but much more noteworthy rewards, too.  

What Is Parlay Betting? – Parlay Betting Strategy Guide

Let’s begin off with the basics—what is parlay betting? A parlay wager could be a very common sort of sports wagering most bettors are commonplace with. It’s been around for ages, getting a charge out of bounty of ubiquity in both EU and the US in spite of having two completely diverse names. Americans call it “parlay betting,” whereas Europeans call it “accumulator betting.”
Typically, a parlay wager permits you to put wagers on numerous matches all at once instead of having different person wagers. It’s sort of like gathering a few singles into one monster wager. In any case, the chances for parlay wagers are much greater than what you’d anticipate and the chance is more noteworthy, as well. All matches in your parlay bet must go through to win. On the off chance that one wagered loses, the whole parlay loses. It’s as straightforward as that.  

What Does a Parlay Pay?

Here’s what you’ll anticipate from most bookies in terms of commonplace parlay chances and payouts:
PARLAYODDSAMOUNT WONPAYOUT
2 team2.6 to 1$260$360
3 team6 to 1$600$700
4 team11 to 1$1,100$1,200
5 team22 to 1$2,200$2,300
6 team45 to 1$4,500$4,600
7 team90 to 1$9,000$9,100
8 team180 to 1$18,000$18,100
We’re talking around parlay wagering with settled chances here. Depending on  your favored bookie, particularly in the event that you’re not living within the US, you might see a completely diverse approach to parlay wagers.

Where Can You Place Parlay Bets Online? Parlay Betting Strategy Guide

Most online sportsbooks permit clients to put parlay wagers. Each will have somewhat distinctive guidelines for what parlay wagers are substantial, but those terms will be clarified on the sportsbook site.

Best US Sites for Parlay Betting

  • BetUS
  • MyBookie
  • BetNow

Best Non-US Sites for Parlay Betting

  • Betway Sports
  • 10bet
  • Spin Sports
Here are a few of the beat wagering destinations of 2021 for you to check out.

Difference Between Conventional and True Odds Parlays Parlay Betting Strategy Guide

You see, the above-example highlights a fixed-odds framework that as it were works in case both choices are 50/50. Be that as it may, on the off chance that you’re wagering on sports, there are continuously favorites and underdogs, and the chances are never the same. To calculate these sorts of parlay scenarios, you’ll ought to do a few sports wagering math!

How Much Do Parlay Bets Pay?

We’ve as of now talked around settled chances to parlay wagers! Presently, let’s get down and grimy with the calculations for your sports wagering endeavors. As specified prior, sports bring forward energetic chances, meaning no two wagers will have the precise same 50/50 chances. Fortunately, the calculations aren’t all that complicated. On the off chance that you’re utilizing decimal chances, basically increase all wagers with the stake. In the event that you’re wagering on a three-team parlay with the taking after chances: 1.2, 1.5, and 1.4, fair multiply all three numbers together with your stake.
  • 1.2 times, 1.5 times, 1.4 times $100 equals $252 payout.
  • $152 won when we take out the stake
In the event that you’re utilized to wagering with American chances, the leading course is to change over them to decimal utilizing our basic wagering chances calculator. At that point, you fair do the increase and you’re all done!
HERE’S THE FUN PART: If you take those three matches and wager them as three singles with a $100 add up to stake ($33.33 stake on each), your return would be much lower. We’re talking generally $40 in add up to. Be that as it may, in this situation, you’d still get a few cash in case one of those matches doesn’t go through, which wouldn’t be the case with a parlay.
Long story brief, parlay wagering offers much higher payouts than singles, but it moreover brings forward a part more chance as well. That’s beautiful, many sports wagering specialists still haven’t come to an ascension with respect to the long-term reasonability of parlay wagers.

What Happens in Case of a Tie? Parlay Betting Strategy Guide

In the event that there’s a tie (more commonly known as thrust), the parlay neglects that bet and brings down the number of add up to wagers, coming about in a lower payout. For case, on the off chance that you contribute in a five-team parlay, nail down four wins and the ultimate coordinate could be a tie, your bookie will lower your chances from 22 to 1 to 11 to 1 and pay you out accordingly.
Keep in intellect, in spite of the fact that not all bookies have the same rules.  European bookies permit you to wager on ties as well; they have three-way match-winners meaning you’ll wager on group A, B, or a draw. If you need the good thing about a thrust in case of a tie, you’ve got to choose a two-way bet.

Pros of Parlay Bets

  • Higher returns than single wagers
  • Great for free play bonuses
  • High-risk, high-reward
  • Correlated parlay potential
  • Tons of excitement

Cons of Parlay Bets

  • High-risk, high-reward
  • Correlated parlay bets not accepted
  • Fixed odds favor the bookies
  • Increased chance of a dry spell
How reasonable is the parlay wagering system?
Well, in a two-team parlay with both chances set at -110, the genuine likelihood ought to change over the chances to +300, but you’re as it were getting +260. For a three-team parlay, the overall chances ought to stand at +700 but bookies as it were donate you +600. In other words, bookies don’t offer a level playing ground for fixed-odds parlay wagers. With that said, are there any better than average scenarios in which parlay wagering makes total sense?

Free Play Bonuses – Parlay Betting Strategy Guide

Three-team parlays are awesome for freebie wagers and other rewards. Why is that so? Well, they bring forward somewhat more juice than genuine chances and permit you to free-play three distinctive wagers. These days, bookmakers are advertising unimaginable welcome rewards (based on the sum of the starting store), and testing with three-team parlays along with your reward reserves seem to get you that additional bit of oomph you need.

Correlated Parlays

Connected parlays are based on certain combinations that will either both win or lose. For occurrence, wagering on the Lakers to win and Lebron James to go over on add up to focus is the idealized illustration of a related two-bet parlay. The issue with connected parlays is that numerous sportsbooks regard it illicit and won’t acknowledge connected bets.
But in case you’ll be able to discover a lesser-known bookie that’s legit but still offers related parlays and a conventional online sports wagering encounter, it ought to be a no-brainer!  

Reduced Juice – Parlay Betting Strategy Guide

The NFL is the culminating illustration of the so-called “reduced juice” marvel. In NFL, 50/50 wagered recommendations are very common, and a few bookies offer 6.5 to 1 on three-team parlays, which brings forward more esteem than wagering on the standard -105 option.

Top Reasons to Avoid Parlays

1) Bankroll Strategy

Dynamic wagering frameworks are by and large respected as destitute techniques for both bankroll administration and bankroll development. Proficient bettors make bets based on their measured edge per diversion. Whereas the math can work out, doing the math for appropriate wager measuring on a parlay may be a part of included work with small to no upside for most sports bettors.

2) Variance

Parlay wagers have higher fluctuation than straight wagers. Here you’re getting the same chances, but your chance of hitting a dry spell is incredibly expanded. When the chances are the same it is most frequently way better to go with the lower change choice, which in this case is straight wagers.

3) Line Shopping

Sports bettors maximize their benefit by continuously shopping for the most excellent cost. For case, finding -4 when other destinations are -4.5, and finding reduced vig alternatives such as -104 rather than -110. When wagering parlays, you’ll got to discover the foremost favorable chances for each group at a single wagering location. This situation is uncommon, so by and large you’ll conclude up with superior chances by making straight bets at different wagering sites.

Are Parlays and Accumulators the Same Thing?

Yessir, parlays and gatherers are the precise same thing. The word parlay is commonly utilized within the US while accumulator (AKA acca) is more commonly utilized within the UK and EU. They both speak to the same thing: a bunch of two or more wagers, each of which should go through to win.

Are Parlay Bets Worth It? – Parlay Betting Strategy Guide

Let’s make one thing clear, sports wagering specialists don’t suggest wagering on parlays as a practical long-term technique. With that said, it doesn’t fundamentally cruel parlays aren’t worth it. We’ve as of now given you a few perfect scenarios for parlay wagers, but in the event that that’s not sufficient for you, maybe the sheer excitement of the chase will be. Envision the bragging rights after nailing down a four-team parlay! That’s more important than cash, right?

How Much Should You Invest in Parlays?

Indeed in spite of the fact that parlays might appear like an extraordinary way of getting insanely wealthy, the chances of you really winning 100% of three-team parlays with sufficient consistency are beautiful moo. With that in mind, it’s best to not have unreasonable desires within them to begin with. Indeed on the off chance that you can’t offer assistance but to dream huge, make beyond any doubt you don’t contribute as well much cash. High-risk, high-reward kind of bargains can be precarious, particularly for beginners, so make sure beyond any doubt you merely wagered with the money you’ll be able to bear.

Is Parlay Betting Legal? – Parlay Betting Strategy Guide

There’s nothing unlawful about parlay wagering. In reality, you’ll once in a while see a trustworthy bookmaker without back for parlay wagers. Connected parlays, on the other hand, are regularly prohibited. On the off chance that you’ll discover a bookie that acknowledges such combinations, be beyond any doubt to drain it for what it’s worth!

Are Parlays Sucker Bets? – Parlay Betting Strategy Guide

There’s a common misguided judgment in sports wagering that all parlays are sucker bets. This is often essentially since most sports bettors are not recognizable with how they work, or how to wager them properly.

How Are Parlay Bets Calculated?

When talking around 50/50 recommendation parlays, you don’t have to do any manual calculations. Everything you wish to know about that framework can be found within the table at the best of this page. Be beyond any doubt that this situation as it were works for sports that have a plenty of 50/50 matches, such as the NFL. If, in any case, you’d like to bet on soccer, esports, or other sports disciplines, you’ll be managing with energetic chances. How to calculate the payout?
Well, fair draft the parlay and the bookie got to show you the numbers. On the off chance that you need to do it on your own, fair change over American to decimal chances, duplicate them with each other and with the stake. That’s it. You’re all done!

THE DOWNSIDE OF PARLAY BETTING Parlay Betting Strategy Guide

Most sources will tell you parlays are a poor way to bet on sports, at least in terms of long-term expected value. That’s because for a parlay to have a positive expected value (+EV), all or almost all of the bets in the parlay must have a positive expected value.
This is a very difficult bar to clear, so most parlays simply make it easier for the sportsbook to win the bettors’ money. For evidence, simply check the revenue breakdown from any legal betting market. Sportsbooks consistently keep a larger portion of the money they take on parlays, by quite a margin too.
If that doesn’t convince you, an easy way to see it is to look at the expected value of the $100 parlay versus the expected value of two $50 spread bets, all at -110 prices. We’ll save you the math, but assuming exactly 50% probability of the individual bets winning here’s how it works out:
  • Parlay: -$9
  • Straight bets: -$4.55
If you want to hand the sportsbooks money at double the normal rate or faster, using parlays should do the trick.

THE UPSIDE OF PARLAYS Parlay Betting Strategy Guide

Now, despite what the content in the sports betting industry overwhelmingly tells you, parlays are not the root of all evil. There are good reasons to bet parlays as well.
First and foremost, people enjoy sweating small bets that can win big. It’s the same logic that drives the popularity of the lottery.
Many people simply don’t care that they are placing a -EV bet. For them, betting isn’t necessarily about trying to make money long term, and that’s OK. Putting disposable income on a six-teamer that has next to no chance of coming home brings them entertainment. If they are betting responsibly and they enjoy parlays, then parlay away.
Second, +EV parlays definitely exist. We’ve already talked about parlaying winnings bets together to increase potential payout. But, even breakeven or -EV bettors can sometimes find winning parlay bets through a concept called correlation.

WHAT HAPPENS TO MY PARLAY BET IF THE GAME GETS CANCELED?

Since parlay bets are made up of multiple legs, newer bettors often have questions about grading parlays. Obviously, a single loss dooms the parlay, but sometimes bets neither win nor lose.

WHAT HAPPENS TO MY PARLAY BET IF THE GAME GETS CANCELED? Parlay Betting Strategy Guide

Since parlay bets are made up of multiple legs, newer bettors often have questions about grading parlays. Obviously, a single loss dooms the parlay, but sometimes bets neither win nor lose.
First and most common would be a push. In the four-team parlay above, imagine Houston lost by three but the other legs won. In this case, the push simply drops off the bet and it becomes a three-team parlay.
The other case to be aware of comes from canceled or rescheduled games, more of a concern now than ever thanks to the pandemic. Again, most times, the bet simply comes off the parlay and it reverts to a smaller parlay.
Same deal for a rarely seen tie in a moneyline bet. Unless you’re betting a three-way market (often used in soccer), the tie comes off of the parlay.
Consult your sportsbook’s rules for full details on how they handle various situations pertaining to various bets.

TYPES OF PARLAYS Parlay Betting Strategy Guide

The most common types of parlays are Round Robin parlays and Teasers.

Round Robin

A Round Robin bet is placing multiple parlay wagers at once. It’s just that simple. Round Robin bets are just a way to simplify making multiple parlays. When a bettor “Round Robin’s” teams in sports betting it’s similar to a horse bettor “boxing” horses for an exacta or trifecta bet in a race.
The bettor will select anywhere from 3 to 8 teams or totals to be in the Round Robin. They will then choose how many teams or totals they’d like to tie together for the Round Robin. For example, a bettor may select eight teams and totals for a Round Robin and tie the parlays to as many three-team combinations as possible.
The combination of teams will dictate how many different parlays the bettor has. Continuing the example, if a bettor wants to Round Robin eight teams they will have 28 different parlays if they choose two teams. If the bettor chooses to make three-team parlays they will have 56 different parlay tickets.
The ticket will cost the amount chosen for each parlay. If the bettor only has $300 they might choose to Round Robin the teams by two, so they have 28 different parlays for $10 each. The payout for each winning parlay is the same as it would be if the parlay bets were each made individually.

Teaser

A teaser is similar to a traditional parlay where the bettor can select multiple teams or totals. However, there are no moneylines allowed with a teaser. Unlike a parlay, the bettor may move each point spread or total plus or minus a certain number of points. The additional points on the spread or total make these bets easier to win and thus they pay less than a traditional parlay.
Teaser bets can change the point spreads or totals anywhere from six to 10 points. However, each leg of the teaser must use the same number of points. Those legs of the teaser may go in different directions.
  • For example, the Kansas City Chiefs -7 can be teased down six points to -1. Meanwhile, the Houston Texans can be teased up six points from +4 to +10 points.
Much like a traditional parlay, the more teams involved with a teaser the better the payoff. Again, different sportsbooks have different odds and rules so they might have different payouts and teaser options available to bet

HOW DOES A PARLAY BET PAY OUT? Parlay Betting Strategy Guide

Again, when the sportsbook accepts the parlay bet, they set up a multi-level wager wherein each bet that wins becomes a bigger wager on the next leg.
In the above example with two standard -110 legs, the first bet becomes $100 on the Bucs +3 or the under 54.5. In this case both bets finish at the same time so it doesn’t matter which one represents the “first” leg. Since the Bucs +3 covered the spread, that $100 becomes $190.91.
Now, that $190.91 becomes the stake for the second leg, under 54.5. That came home as well, and a -110 bet for that price pays out $173.55. Add these up and you get $364.46.
Remember, the bettor started with a $100 stake, so $264.46 would represent the profit in this parlay bet.
If you’re trying to do some back of the envelope math to figure out what a parlay bet will pay out, a simple framework exists for -110 wagers. We’ve already seen that a two-teamer pays about 2.6-to-1. A three-teamer pays about 6-to-1, and the odds roughly double from there for every -110 bet added to the parlay.

Let’s look at some examples of how parlays would work with hypothetical bets from Week 1 of the NFL season. All of the lines to follow come from DraftKings Sportsbook. Since we’ve already broken down a two-team parlay, we’ll take a look at a three-team parlay and then a four-team parlay.