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 a very popular way to bet on games for those that are new to sports betting, but it isn’t very popular with the experienced professionals, because they know better.
If you are new to sports betting, here are some Do’s and Don’ts on how to bet Parlays:
No matter how tempting it may be, try not to risk a lot of money on a parlay with more than three or four teams. This is easier said than done, because a $5 parlay on seven teams can win you over $1,000, but the truth of the matter is that the chances of you winning all seven games are slim to none, and you don’t get any compensation, even if you are right on six out of the seven games, which makes it even more frustrating, and can tempt you to keep betting on more parlays until you are broke.
Instead of a seven team parlay, you can bet on a parlay with two to four teams, because the chances of you winning this type of parlay are way better than your chances of winning a seven team parlay. The winnings may not be as much as the winnings you would get if there were more teams in the parlay, but it is still going to be more than you would have won by placing single bets on the teams you have in the parlay, which isn’t too bad.
When betting parlays, you can increase your chances of winning by spreading it across several sports. Most sportsbook will allow you to pick teams from different sports when picking a parlay, so instead of forcing bets by picking teams from the same sport, you will increase your chances of winning by picking from any of the different sports, playing at the time, and you can even pick teams that don’t play the same day, as long as the betting lines are open. By doing this, you can pick the favorites from the different sports, and if they all win their games, you will win a nice little payout.
When placing a parlay bet, you should bet the minimum possible every time you are picking more than 10 teams. It is true that you will make significantly more if you place a $100 bet on a 10 team parlay than if you place a $1 bet, but the odds of the bet winning are the same, which is very low. If you know that you enjoy placing parlay bets, there is no point wasting a lot of money on a bet with miniscule odds of coming through, which is why you should place $1 parlay bets, because it doesn’t really affect your bottom line when you lose, and can still give you payouts in the thousands if you win.
Another parlay strategy that has proven to work over the years involves keeping track of the trends. Every week, there is a day where all the home teams win, or all the underdogs win, which means that there is a trend going on that day. For some reason, this is more common in football than any other sport, so if you want to win a decent amount on a parlay, pay attention to the trends that are going on with the early football games on a weekend and follow the trend when betting on the evening games. Sooner or later, you will accurately predict the trend, and get a big payout from your parlay. As previously mentioned, you shouldn’t put a lot of money in these parlays, because it might take a while before you finally pick it correctly, so it isn’t worth wasting too much money on.
These are a few ways that you can bet on parlays, and a few things to avoid when betting on parlays. If you follow the instructions provided, you should be able to bet on parlays successfully.
