I'm sure we've all been in a situation before where we stare at the list of games and think to ourselves -- if only I could hit a nice 10-team parlay. Now, depending on the odds of the games you selected, or the amount of money actually wagered on the parlay, this bet won't necessarily make you rich, but it could offer up a very nice four- or five-digit return. The problem with hitting a parlay that size is that it's damn near impossible to do. Most experienced bettors refrain from ever making parlay bets. Thankfully, for sportsbooks, parlays will always be a staple of the betting game since there is always the potential of that one big payout every square bettor chases.
- How To Win Parlay Bets
- How Do I Parlay A Bet On Bet Online
- How Do You Make A Parlay Bet On Fanduel
- Fanduel Parlay Bet
- Parlay Bet Rules
In case you are new to the industry, a parlay is a type of bet that involves two or more teams. In order for a parlay bet to be successful, each team involved must win, or cover the spread - depending on how you bet them. A parlay can also be called an accumulator or a combo bet. Parlays are the most popular bet amongst amateur bettors since it has the potential for the biggest payout.
Different Types of Parlays
A parlay can have a combination of moneyline bets , point spread wagers and even include the 'over/under' option. Some sportsbooks allow bettors to include different kinds of prop bets, half-time wagers, different sports and sometimes even futures bets .
Even if you only get one game correct betting them individually, you're only going to lose $109. If you bet the same $300 on a parlay, though, you lose the entire $300. The risk is higher for parlays, but the associated reward is also higher. Make A Parlay Wager To make this a parlay wager, click the Parlay tab at the top of your Bet Slip. Once you do, Parlay will be underlined in green, and your wager will become a parlay. Simply find the races you want to bet on, click on the desired horse and it will appear on the bet slip which sits on the right hand side of the page, or similar at most bookies. Once you have two or more options on your bet slip, options for a multi bet will be available under 'Multibet'. Parlay betting explained Instead of wagering a set bet amount on a single game, event or prop, parlay betting offers you the option to tie together two or more of these picks and risk a set bet.
Depending on the type or parlay you make, the payout could be minimal or significant. A lot of things go into determining the odds, but the main thing you need to know is that not all sportsbooks offer up the same odds.
Generally speaking, a two-team point spread parlay will pay about 2.5/1, while a three-team parlay pays 6/1, a four-team parlay pays 10/1 and a five-team parlay pays 20-1. Obviously, the more teams you decide to put in your parlay, the higher the odds go.
If you decided to go the parlay route with your money, you must be completely educated on the rules. Do you know what happens if one of the games in your parlay is canceled or pushes on the total or point spread? If you're reading this, I'm assuming you don't, so let me give you a better understanding.
What Happens to My Bet If My Parlay Has a Canceled Game?
Whether you are playing a point spread parlay on football Sunday, or a moneyline parlay on Tuesday's baseball card, the answer to this question remains the same; 'it depends'.
It all depends on which sportsbook you are using and what their rules are for parlays. Most sportsbooks do not punish bettors for having a canceled game on their parlay ticket. The ticket will go on as if that canceled game never existed.
How To Win Parlay Bets
For example, if you put together a five-team parlay and the fourth game on your ticket between the New York Mets and Washington Nationals gets canceled due to rain, your parlay is still live, but it just reduces to a four-team parlay and the payout is adjusted accordingly.
What Happens to My Bet if My Parlay Has a Push On it?
This is where it gets a little bit dicey, but as I said above the answer still depends on which sportsbook you use. Most sportsbooks try to avoid setting full-point point spreads such as -3 or -7 in order to be able to declare a winning and losing side. If by the off chance you can get a whole number and that game happens to fall right on that number, most sportsbooks just void that leg of the parlay and reduce the payout to the next number - which is the same procedure as above. A five-team parlay would then turn into a four-team parlay and the odds would adjust.
However, it should be noted that some sportsbooks treat pushes as losses. That means that just because you got a great number of -3 instead of -3.5, you are still needing to win by four in order to avoid losing your parlay. These parlays increase the difficulty of the wager and should be avoided at all costs.
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One of the most lucrative sports bets you can make is a parlay, but unless you employ some kind of betting strategy it can also be one of the toughest bets to actually cash-in on. In simple terms, a parlay is when you combine two or more picks into one single wager. The plus side is that the top online sportsbooks as featured on SportsBettingStats.com offer some very attractive odds for groupings of two to even 16 teams. Our favorites are Bodog for non Americans and BAS for US players. The down side is that the more teams you add to a parlay play the higher the odds are stacked against you to win.
How Do I Parlay A Bet On Bet Online
Sometimes it can be hard to pick even a single winner so the catch to winning a parlay is that you have to win every one of your picks. The only exception is in the case of a PUSH when two teams tie with the closing point spread. In that case, you total parlay is reduced by one team.
For example, if you put together a four-team parlay at 12.28/1 betting odds and one of your plays ends as a PUSH, it would be reduced to a three-team play at 6/1 odds.
How Do You Make A Parlay Bet On Fanduel
The betting odds for parlays using point spreads is fixed and based on the total number of teams you group into one bet. Betting parlays for MLB games is an attractive option since you will be working off money line odds as opposed to a point spread that is commonly used in sports such as football and basketball. When betting money lines you only have to pick the straight-up winners, but keep in mind that your payout odds will be based on the actual money line odds for each of your picks. The top online sportsbooks should have a parlay calculator on their website where you can enter the actual money line for each of your individual picks to provide a projected payout of that particular parlay if you win.
It all depends on which sportsbook you are using and what their rules are for parlays. Most sportsbooks do not punish bettors for having a canceled game on their parlay ticket. The ticket will go on as if that canceled game never existed.
How To Win Parlay Bets
For example, if you put together a five-team parlay and the fourth game on your ticket between the New York Mets and Washington Nationals gets canceled due to rain, your parlay is still live, but it just reduces to a four-team parlay and the payout is adjusted accordingly.
What Happens to My Bet if My Parlay Has a Push On it?
This is where it gets a little bit dicey, but as I said above the answer still depends on which sportsbook you use. Most sportsbooks try to avoid setting full-point point spreads such as -3 or -7 in order to be able to declare a winning and losing side. If by the off chance you can get a whole number and that game happens to fall right on that number, most sportsbooks just void that leg of the parlay and reduce the payout to the next number - which is the same procedure as above. A five-team parlay would then turn into a four-team parlay and the odds would adjust.
However, it should be noted that some sportsbooks treat pushes as losses. That means that just because you got a great number of -3 instead of -3.5, you are still needing to win by four in order to avoid losing your parlay. These parlays increase the difficulty of the wager and should be avoided at all costs.
Doc's Sports is offering $60 worth of member's picks absolutely free - no obligation, no sales people - you don't even have to enter credit card information. You can use this $60 credit any way you please for any handicapper and any sport on Doc's Sports list of expert sports handicappers. Get $60 worth of premium members' picks free .
One of the most lucrative sports bets you can make is a parlay, but unless you employ some kind of betting strategy it can also be one of the toughest bets to actually cash-in on. In simple terms, a parlay is when you combine two or more picks into one single wager. The plus side is that the top online sportsbooks as featured on SportsBettingStats.com offer some very attractive odds for groupings of two to even 16 teams. Our favorites are Bodog for non Americans and BAS for US players. The down side is that the more teams you add to a parlay play the higher the odds are stacked against you to win.
How Do I Parlay A Bet On Bet Online
Sometimes it can be hard to pick even a single winner so the catch to winning a parlay is that you have to win every one of your picks. The only exception is in the case of a PUSH when two teams tie with the closing point spread. In that case, you total parlay is reduced by one team.
For example, if you put together a four-team parlay at 12.28/1 betting odds and one of your plays ends as a PUSH, it would be reduced to a three-team play at 6/1 odds.
How Do You Make A Parlay Bet On Fanduel
The betting odds for parlays using point spreads is fixed and based on the total number of teams you group into one bet. Betting parlays for MLB games is an attractive option since you will be working off money line odds as opposed to a point spread that is commonly used in sports such as football and basketball. When betting money lines you only have to pick the straight-up winners, but keep in mind that your payout odds will be based on the actual money line odds for each of your picks. The top online sportsbooks should have a parlay calculator on their website where you can enter the actual money line for each of your individual picks to provide a projected payout of that particular parlay if you win.
Whether you are betting money line parlays for baseball and hockey or point spread parlays for football and basketball, there are a few betting tips and strategies that you should always employ to give yourself the best chance to win. First and foremost, you need to properly handicap each game as an individual pick before grouping them together in a parlay bet.
Fanduel Parlay Bet
For example, if you decide to go with a two-team NFL parlay at 13/5 odds, you should probably take the time to breakdown three or four games to come up with your top two plays. Winning parlays is all about your overall confidence level for each one of the picks you decide to group together. If you are not absolutely in love with each one of your picks individually, then do not risk your money by grouping them together in a parlay.
Parlay Bet Rules
A second tip is to avoid the temptation of parlay picks of three or more teams. You may get excited over the 91.42/1 return you would get if you hit a seven-team parlay, but this is nothing more than lottery ticket when you start calculating your true odds of actually winning all seven games.
Finally, make sure you have some kind of set money management system in place if you are going to be betting parlays. There is a reason why sportsbooks are willing to give you such a generous return on multiple team parlays. The odds are already stacked in their favor that you are going to lose one of your picks even in a two-team wager. Parlays should always be reasonable unit plays that will not break the bank if you lose.
