Of all the ways you can bet on sports, parlays are considered the “Sucker Bet,” because it is a way to bet on multiple teams at the same time, with the promise of a very big payout, but all the teams you pick must finish as you predicted, or else you lose the bet. For that very reason, it is Read More Many novice bettors are told to stick only to straight bets. That’s because they don’t do the work or research to make wise investments with teasers and parlays. You too may have been told that parlay wagers are considered sucker bets. That’s not accurate at all. But putting together winning parlays is not impossible, and parlay betting remains one of the most popular ways to bet on sports. Parlay odds Calculating parlay odds can be difficult because different sportsbooks employ different formulas, and the types of bets can vary so greatly. Parlays are by far the most popular of the exotic wagers, as they offer the potential for a big payout on a small wager. Simply stated, a parlay is a collection of two or more sides or totals that you bet on and all of them must win in order for you to win your bet. If you place a four-team parlay, going 3-1 is no different than going 0-4. But if you’ve ever bet a parlay, you know how hard it is. As we know, when you’re betting parlays, going 14-1 is a loss. If you play parlays, you have experienced a crushing defeat. Flat betting may not provide the type of one-time payments that bettors desire, but it’s a smart, long-term strategy used by many professional sports bettors. Consistently betting parlays will cause wild fluctuations of your bankroll, which is why most professional bettors tend to avoid them. Promoting parlays is a way for sportsbooks to give bettors experience with these kinds of bets so that they continue to bet them when the promotions are not offered. They are a way to lure recreational bettors and bettors who are true ‘every now and then’ type clients to bet them. I like parlays due to the fact that I can bet 20 and win 500. I know the odds are against me but I do not like to be large amounts any more. I lost 4 parlays and won a 4 team parlay last week. That makes pretty good profit. They are good for low risk, high reward for the cheaper gamblers who want to try and win big. You can bet on some of them, trying to receive a larger payoff. You can also offset your underdog bets by parlaying them against a couple of strong favorites; for example, you can bet on a 4-team parlay, on two underdogs and two favorites. Do not go Overboard With Parlays. The more parlays you bet on, the less likely you are to win. So, we see why you’d assume that the payout for winning a six team parlay would also be 63-1, but it’s not! Take a look at the following table, which is an example of the fixed odd payouts a sport betting site offers on parlays.
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