Dear bettor,
I was once where you are now. But thankfully I had a good friend help me out and it was because of him that I furthered my sports betting knowledge by understanding parlays, payoffs and how they work.
Parlay wagers are a selection of two or more betting results in which the odds for the payout increase with the number of bets that you happen to choose.
The more teams that you parlay together then the higher the payoff. It’s critical for you to understand that in parlay bets you’re able to combine almost anything, including money lines, sides, and totals.
Over the years I’ve witnessed bettors win $50,000 on a $50 10-team parlay during the MLB season. I’ve also experienced a $5 12-team parlay bet that turned into almost $6,500. My close friend Rob was able to win an amazing $21, 000 on a $10 12-team parlay. In other words, even while parlay bets may be risky, they sure are worthwhile the risk.
The first thing you need to do to be a successful parlay bettors it to understand how parlay odds are calculated.
If you feel like taking a bigger risk in order to get a larger payoff, you want to understand how payouts work. For the most part, parlays on the NFL and college football as well as basketball involve the standard -110 lines, which means that instead of having to calculate the odds on each parlay, there are fixed payoffs for each parlay wager.
Let’s look at a NFL parlay example. The line reads Baltimore Ravens -3.5 against New England Patriots with a total of 36. This means you will have four different combos to choose from:
- Dallas -3.5 and over 36
- New England +3.5 and over 36
- Dallas -3.5 and under 36
- New England +3.5 and under 36
The odds of any of these parlays being a winner are 1-in-4 so the actual odds are 3/1. However, you’ll get paid either 13/5 or 5/2 assuming all bets are the standard -110. So if four players bet on each different result, there will be one winner at $260 and three $100 losers for a $300 total. That means there is a net gain of $40, which is a 10% hold for the book. The same thing basically works out for a 3-teamer, with eight different possible outcomes and a 6-1 payoff. One guy wins $600 and the other seven would lose $100 for a $700 total and a 12.5% hold for your bookie.
Please note that at times you can benefit from parlays when you see a team that is going to try to keep the score low in order to have a chance to win.
There are games that have some correlation between the spread and the total and these are the times that parlays can be a big benefit for you. When I play parlays I like it to be say on baseball games and on the side and total in the same game. This is true of large spreads, when taking a look at the college football odds you may see a game with a spread of -30 and a total of 56. It’s very difficult for the favorite to cover this game and still see the game land under the total.
While it does happen, it’s not easy. So when you eliminate these options (favorite and the over) the real payoff is nearly 2/1, which is a 30% advantage for you.
Remember that a parlay is a bet that effectively combines two or more bets into one. You make multiple choices, and all of those choices have to be correct to win. If a single choice is not correct, you lose your bet. Of course, this makes it difficult to win parlays, especially this that include a lot of choices.
Nevertheless, parlays are not impossible bets. You’re still going to need a whole lot of luck and skill to get these right on a regular basis. But, the potential for a juicy return is what makes these bets so attractive.
Keep in mind that you are going to make a lot more from a winning parlay with four choices than you would from winning four single bets on those same choices.
The high potential returns are the number one reason why parlays are so popular among sports bettors. It is vital to understand exactly how they work and how the potential payouts are calculated.
A common example of a parlay bet would be a 3-team football parlay, where you choose three football teams to win their upcoming games. This basically means you’re combining three moneyline bets into one.
You can place a single stake bet, and if all three teams win you would be receiving a payout based on the relevant odds. However, remember that if just one of those teams loses you would be losing the entire bet.
The most popular parlay bets are football and basketball parlays, however you’re able to place parlay bets on just about any sport.
Furthermore, parlays don't have to combine only moneyline bets. When dealing with parlays you can also use point spread bets and totals (over/under).
The minimum number of choices you need to include in a parlay is two while the maximum number will vary. youwager.lv allows up to 15-team parlay bets. The more choices you make, the higher the potential return.
Granted, the more choices you make the harder it will be to win your parlay.
Another huge appeal of parlay bets is the fact that the potential returns can be high relative to the amount staked.
There are two possible methods used for the calculations of parlay payouts, the first of which involves simply multiplying the odds of all the selections contained within the parlay to calculate the overall odds for the bet. This is used when the odds for each choice are different.
The second method is a structure where the odds are fixed based on the number of choices. This is used for parlays that contain point spread wagers and totals wagers where the odds are the same for each selection (typically -110 in moneyline odds).
Some bettors might argue that betting on each game individually could result in a greater profit. However, this might not always be an option, as games may be going on at the same time and bettors will not have the ability of reinvesting the money.
These are several recommended techniques when betting parlays. Some of the most important aspects to look out for winning a parlay include:
- Wager more and keep the choices low. Start with 2, 3, or 4 teams and if you decide to go over four teams your advantage would be at risk. Instead of playing a 5-team parlay for $10, play a 3-team parlay for $30 as this will increase
your parlay odds at winning.
- Remember to always check the rules of the parlay and do your homework when making your choices. For example, in football parlays you want to avoid choosing a team where the line is 3, since this number decides most football games. In addition, make sure to choose games where the spread has a ½ involved, as this will secure a win or a loss.
- Be sure to protect your wager whenever possible for large parlays.
- If you happen to have a fantastic weekend in football and hit six choices of your seven-team parlay with the only remaining game taking place Monday night. You invested $10, and have a chance to win $800 if the Monday night goes as planned.
- One suggestion for this scenario would take the edge out of the Monday night game and make a side bet of $418 on the other side. This will secure a profit of $392 if you hit your 7-team parlay. If you happen to lose the game, you would collect $380 on your side bet. This is a smart move all around and a profit on your parlay bet.
Take your time to learn all you can about parlay bets and parlay payoffs as these types f wagers represent a large return with limited risk. youwager.lv is your perfect destination for all your online gambling needs and where you’ll find the absolute best parlay odds in the industry.