HOW DOES PARLAY BETTING WORK?

Parlay betting can be quite confusing. But one thing is for sure- he who yells parlay caters for the drinks that night. If you want to win big in this kind of betting, here is what you need to know:

How it Works

Parlay allows you to combine multiple bets and to have them in one card. In this way, you can have two to ten bets at the same time, under one amount. The wagers can be more than this in some cases where there is a jackpot in play. This combination of bets has its downsides and upsides.

On the one hand, you have terrible odds. But on the other hand, combining these odds gives you a massive reward if you win. The more extensive the selection of games, the larger the payout. It thus helps to have as many teams as you can where you wish to enjoy massive profits. However, note that this also reduces your chances of winning. Any loss on any game means that you lose your wager amount. When selecting the games, you have to ensure that the teams are capable of winning as one loss does it for you.

Let us suppose you have five teams on your card- A. B, C. D, and E. They all have different odds as follows- 1.2, 1.4, 1.7, 1.5, and 1.9. If you bet on the teams individually with ten dollars on each game and they all won, you would get 10*(1.2+1.4+1.7+1.5+1.9) which amounts to $77. On the other hand, if you had them in one card, the odds would be 10*(1.2*1.4*1.7*1.5*1.9). If all the teams won, you would walk away with $83.4. Suppose you invested a hundred dollars, you can see how big the difference would be.

However, here is the catch. When investing in individual teams, a loss would not prevent you from cashing in on the wins. With a parlay, a loss means that you cannot cash in on any of the wins. Some exceptions exist in this form of play such as a push which happens when teams tie. When this happens, that game gets removed from the card, leaving the rest in play. It works for anyone who would have lost on the parlay. The rewards with fewer games may be smaller than the original, but it may as well save you from losing the entire investment. The risks are high, but the returns are worth it.

Types of parlay

One is the over/ under where you bet on the points in a game by both teams. The bookmaker will set the line, and you will base your decision based on the number given. You can then decide whether the points will be over or under that score. This form of betting is quite common as it allows you to make many bets in one game. Look at it in this way. You can bet that a team would win and add to the wager by choosing if it will go under or over. In this way, you will have created a parlay.

Do parlay bets include the spread?

The other common type is the point spread. It works by taking points away from the favored team and awarding them to the team that is least likely to win. Take an example of teams A and B. The site may show that A has -3 odds while B has +3, as a show of their likeliness to win. It also shows how much you should invest in a team to get some money from the investment. In such a case, if you bet on team A and B won by 1, you would lose by two points. However, if B won, you would be screaming at the top of your lungs for joy.

Research on teams before placing wagers on them as one wrong move will cost you a lot of money. All the best!