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Parlays allow recreational bettors to turn small wagers into real money. As more and more bets are included in the parlay, the juice continues to rise — especially at Las Vegas sportsbooks. There are many restrictions about correlated parlays bets that are tied into each other and how many wagers can be combined for example, Pinnacle allows up to ten legs in a parlay , but most sportsbooks use a similar payout formula for parlays. We should point out that offshore sportsbooks typically have better odds than Las Vegas sportsbooks, and that every offshore book is different.
To calculate your winnings with true odds, simply multiply the odds by your bet amount. If we multiply 0. That means your expected payout would be. As it turns out, sportsbooks have made a fortune off parlays for years. Flat betting will help you ride the ups and downs of sports investing and overcome the inevitable losing streak. Instead of earning nearly three units for those wins, bettors would walk home down one unit. Consistently betting parlays will cause wild fluctuations of your bankroll, which is why most professional bettors tend to avoid them.
Have any questions for the staff at Sports Insights? Utilize our live chat to speak with a customer service representative or e-mail us at help sportsinsights. David was the Content Manager at Sports Insights.
He has since moved on to greener pastures. In Tips and Strategies. By David Solar. A key ingredient in to successful parlay strategy. One of the wonderful opportunities afforded by a well placed parlay is the chance to hedge against the last leg should the earlier legs have already landed. A hedge will give you guaranteed winnings or at the very least safeguard your stake. Hedging is not negative play and it does not demonstrate a lack of confidence in your original bet. It is simply playing the numbers and buying some insurance.
All experienced bettors know that fate can, and often will intervene at inopportune times. An injury to a key player here, a horrible call from a referee there and your parlay can come crashing down. Lock some profit in, kick back, and watch the game, or better still start researching your next parlay! Many online sports books reward clients for loyalty, making deposits, regular betting or for wagering on promotional markets in the form of bonus or free bets.
The issue with these is that as the bettor, you only receive the profit from your free bet and not the original stake. The solution; use your free bets on parlays. This way you can take a shot at a combination of wagers that deliver you final odds much more enticing than an uninspiring favourite.
School of Bets has a must read guide to making the most of your bonus bet. Get it here! Home field advantage is an amazing thing in the world of sports. Teams seem to grow an extra leg when they run out in front of their families and legion of faithful fans. Unique weather conditions, stadium layouts, home cooking and the chance to sleep in their own bed without question motivates athletes.
That overconfident star studded visiting team may just find themselves in an ambush. It is for these reasons that home underdogs pick and choose carefully are always worth consideration in a parlay. The underdog status carries with it a powerful odds multiplying effect. Just the thing every well played parlay needs.
You could expect a home underdog to be paying well above 2 — 1 odds, essentially at the very least doubling the parlay total odds. Loading up on a big favorite is always a temptation for the online sports bettor. A quick in and out to bank some profit to boost your account. The issue here is normally the gambler has to wager quite a large stake to see any significant return. Not always the best idea for long term success.
One run of losses and your account balance cops a beat down. This is where the favourites parlay double comes in handy. Find two carefully chosen favorites, bundle them together into a parlay and let your stake and profit from the first win ride into the second leg.
The end result is a much smaller stake at risk but still an excellent return. For example the NBA parlay below sees two strong home favourites combine together to make a solid bet at decimal odds of 1. Nice return. An underrated but powerful parlay is the underdog double. Many a gambler has a story of a 4 or 5 leg parlay of strong favorites offering combined odds of about 3 to 1. You in turn do your dough and are left asking the question, if only I had wagered on that dog.
In many ways the double underdog parlay represents considerably more value that bundle of favourites. Juicy odds can sometimes blind a gambler. Even before the parlay has been placed the blinded bettor is already doing the math and dreaming of a tsunami of cash. Self talk can creep in and soon the bettor has convinced themself that an increase in bet size is the clever move here.
Just like the golfer, who wants to hit the ball further, maintains the same swing but changes the club to not upset their rhythm,so it is with the successful parlay bettor. If it is big payout they are chasing, the stake remains the same, but the parlay becomes more elaborate. That way if the parlay loses which happens regularly the bettor has not be taken to the cleaners but blowing an oversized stake. A parlay system bet builds into the bet some insurance in case one leg fails.
It actually gives you multiple winning combinations and there is plenty to like about that! There are many systems available to choose from and they are based around the amount of legs within your parlay and are typically available on parlays of between 2 and 8 legs.
Depending on the odds of each individual leg you may be able to cover your original stake with just two legs landing. The overnight parlay is a rarely spoken about use of the humble combination wager. It is essentially where a bettor loads up a parlay that will result while they are sleeping. It is often used as an attempt to build a bank for the next days local action.
These markets also have established sports betting communities and as a result thousands of markets are on offer.