While outrights and moneylines will always be favorites, the online betting industry offers many opportunities. Besides singles, punters can put their money on doubles, trebles, and parlays. Parlay betting strategies are much riskier than singles betting, but they offer greater rewards too.
How does the parlay betting system work? According to the guide to parlay betting, this type of bet, also known as an accumulator, allows punters to put wagers on several matches on one slip. Parlay payouts depend on all stakes to win. By grouping several singles into one massive bet, punters can earn a stunning payout while paying a small price. Of course, a lot of luck is involved in winning parlays, but for what it’s worth, it has made many punters millionaires.
Just like any bet, the parlay holds significant pros and cons. One of the most obvious advantages is that you stand to win a great sum of money. Plus, it’s much more fun to play and a better option for high rollers looking to score big with their bets.
When using parlay betting systems, all the events on the slip must win for you to win your parlay. They are multiplied by one another and by the stake. If one loses, you lose it whole. The payout depends on the odds on the slip.
Here’s an example of a 3-team parlay:
If all 3 teams win, the payout on this bet is a whopping $874. The sports betting parlay strategy is a fantastic choice for those who aren’t afraid to risk some money. Of course, profit is not guaranteed, but if the bet wins, it pays big.
You don’t need to calculate the parlay profit yourself. All online bookies have automated calculators that will give you a clear idea of what you can expect. Just keep adding odds on the slip and enter the stake, and the system will calculate for you.
Unfortunately, no strategy can be guaranteed a profit from parlays. You’re relying on luck rather than expertise with so many matches on the slip.
Parlay bets pay at odds higher than the typical single moneyline wager. However, they’re still below the “true” odds. Bookies average 20-30% profit on spread parlays compared to around 5% juice on individual sports bets.
Punters most commonly place moneylines on parlays. However, other bet types, including spreads, can be used to build parlays. You can mix them on a slip and try to get a big payout or use a strategy that combines weak numbers with strong ones.
That’s the beauty of a parlay. It allows you to mix things up the way you want to. It means you’ll end up with many different odds that raise or lower the chances of winning.
Big moneylines as a series of parlay wagers is a commonly used strategy. It works great for NFL matches, especially in the playoffs when the going gets tough. Most punters combine sure with riskier odds to get the most out of their parlay.
Another parlay sports betting strategy is to go all-in with risky bets. Just put as many high-odds wagers as you want and a smaller stake. That way, the risk is high, but the payout is incredible too.
Depending on the bet type, we can divide parlays into different categories. Listing them all is pointless, but below you can see the most common parlays punters play today/
3-leg parlays are most common among punters nowadays. As the name suggests, this parlay contains 3 legs, essentially 3 bets. For example:
For this bet to win, you must get all your legs right. The 3-leg parlay is often called the best parlay strategy, minimizing the risk as much as possible compared to parlays with more selections.
No big surprise here – this one is a parlay consisting of 4 separate picks. The risk is higher than in a 3 team parlay, but so is the potential payout.
If you’re not one for all-or-nothing bets, you can make a round-robin bet out of 4 selections, for example. It groups those bets in smaller parlays, creating 2-leg parlays with more possibilities. Choose 4 wagers, and you have 6 picks in a round-robin parlay:
This type of bet is common for events such as the Champions League during the knockout stages. It can pay well, but it’s quite a risky investment.
You don’t need to do anything special to build a parlay. Every online bookie’s system automatically creates a parlay when you add the minimum number of selections (2+) on your slip. From there, you can enter the stake to calculate the returns instantly.
Bookies nowadays have calculators that do the math for you. Build a parlay, enter your stake, and voila! You’ll have the returns spelt out right away.
All the odds in a parlay are multiplied once again with the stake. There’s no minimum requirement – you can place any odds on your parlays.
If one leg of your parlay loses, your whole slip loses. In the case of a tie, the parlay reverts to a lower number of legs and payout.
Using a sports betting strategy parlay, you can buy points or alternate odds (props) once the lines are posted. These points are also available on cards issued by the bookie.
There’s no sport that you can’t put on a parlay.
That said, not all of them are perfectly suitable for parlays. In most cases, the parlay betting system is used in American football, basketball, soccer, baseball, or events involving more teams or players.
American football is a huge market, with hundreds of matches played every year. It’s the perfect choice for point-spread parlays or even moneylines.
As the premier American football competition in the world, the NFL is an excellent pick for parlays. That goes double for the playoffs or the Super Bowl, one of the most-watched global sports events.
Spreads are especially popular in the NBA betting, where they work better than moneylines. Punters are free to build their spread NBA parlays which can deliver incredible profit on small bets.
Spreads also work great in baseball. This unique sport has several markets to bet on, making it a great choice for parlays.
The MLB is the biggest baseball league in the world and one punters love to bet on. Parlays are a common MLB bet for many in a long season that includes playoffs and the World Series.
UFC events often include several fights on the main card or undercard, so you can bet on them all by building a bigger parlay. The main event might not have the best odds, but fighters on the undercard are often priced at great odds.
Parlays are the most lucrative bet if you want high-risk-high-reward situations. Why stick to singles that almost pay nothing when you can bet with a bit of risk and win more? The best parlay strategy can deliver amounts no singles can pay, so if you haven’t tried parlays, we strongly recommend you start now.
