Parlay Betting Explained
Parlay betting is also known as accumulator betting. This is a combination of bets between two to twelve. For you to win the bet, all wagers need to win. When one wager loses, the entire parlay will be lost.
The more the bets in your parlay, the higher the potential payout might be. If you use this kind of betting in the right way, you will achieve positive results. Most betting sites, especially UK betting sites have favourable parlay bets available due to their popularity.
How Parlay Bets Work?
A parlay bet is risky but this will be compensated when you win since it promises a higher payout. Online sportsbook compete in a global market, so it is advantageous for them to include betting bonuses, hence the parlay bet, which often is include with UK sports books online as a bonus bet.
A parlay’s outcome is determined by multiplying the lines to each game together. This is best achieved in decimal odds. Let’s say that we had three soccer games each with an odd of 2.1, if you made straight bets of £10 for each; you would earn 2.1 x 10=£21 £21 x 3= £63. If you made the bet on a parlay and won, you would earn 2.1 x 2.1 x 2.1=9.261 9.261 x 10=£92.61, which is more than you would make on straight bets. The only problem is that you would lose your entire stake if one of the teams lost which would not be the case with the straight bets.
You will be able to parlay events for different sports. This is a common strategy that advanced bettors use. In a single parlay, you can have as many as 12 events. This can be on sports like, NFL, hockey, golf, soccer or tennis matches. You can have different sports in one parlay. It is possible to have a hockey event, NFL, soccer and tennis event in one parlay.
Nowadays, you will not be required to count your odds in a parlay. The system has been automated and you will see the odds being calculated automatically as you add your bets to the parlay. The potential payout will also be calculated after you enter the amount of your bet on the parlay. When you choose to go the parlay betting way, the bet will be worth three times more compared to straight bets.
Sportsbooks do not allow correlated parlays. A correlated parlay is when you try to parlay two events that correlate like predicting a team to win in the first half and at the end of the game.
Tips When Playing Through Parlays
In order to be successful with parlay betting, there are tips you should follow:
- Do not make over three parlay bets
- When you make more than two or three bets in a parlay, the bookie has its house edge increasing. Three events would be the best option is you are going for parlay betting; as you increase the events, the bet becomes riskier.
- House money: When you make a deposit and get a bonus, you will be using house money when making the parlay bet. When you use house money, your odds of winning increase since you are not betting with your money. Your edge may increase when you are using the bonus amount.
Choosing The Best Online Sports Books
Have a look at our recommended top sports betting sites below, each of which offer the best odds and games to bet on. They also offer different sports betting bonuses, so choose the one which suits you the best!
Top Online Sports Betting Sites & Bonuses September 2020
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