Football is one of the most recognized sports around the world. It is even more famous among people when it comes to sports betting. There are various methods of betting available for people of all types be it a beginner or an advanced. Today, in this article we will learn about Parley betting, its advantages and disadvantages over other betting types, parlay bet tips, and also the most commonly used Parlay bets type.
Understanding Parlay Bets
A Parlay, also known as accumulator/combo bet/multi is a single wager, that involves a combination of two or more bets into one. The combining bets can include point spread, money-lines, futures, totals, and even prop bets. The only condition is the bets should be on different games.
You can place parlay bets on different sports or different leagues in the same sport. For example, you can bet Barcelona in Football, Dallas Cowboys from NFL, and Los Angeles Lakers from NBA and bring them into one Parlay bet. The advantage of such parlay bets is that the odds of winning are high and hence the payout is high. But the downside is that you have to win all the wager to win the parlay bet. In the above example, you lose the whole bet, even if you lose just one wager.
Parlay Bets Types:
As with any type of sports betting, there are many variants. Similarly, Parley also has many variants, and some of the most commonly used and easy winnings parlay bet types are as follows.
1. Round Robin:
Round Robin simply means placing multiple parley bets at once. The punter starts by choosing 3 to 8 teams in total. Then, the punter chooses the number of teams that they want to tie up for the Round Robin. The different combination chosen by the punter determines the number of parlay bets they have. If the better chooses 8 teams and puts them in a two-team combo, then they will end up with 28 different parlay bets. Similarly, if the bettor wants to put them in a three-team combo, then they will end with 56 different parlays.
This method can be useful if the punter is on a budget. As an example, if a punter wants to spend no more than $300, then they can have a two-team combo with 28 different parlays and bet $10 for each parlay instead of raising the budget for three-team, 56 parlays. Hence, the punter gets profits for all the parlays they win.
Teasers and traditional parlays are very similar. They both allow punters to select multiple teams to bet on. However, with teasers, there is no moneyline. Also, unlike the traditional parlay, the punter can move each point spread to a total number of points. The moving of the point spread makes the bet easier to win and hence, the payout is also less than the traditional parlay.
Teaser bets allow the punter to change to points anywhere from six to ten points. But it is mandatory that each match should have the same number of points. Hence, only the points of the teams playing in your particular wager are swappable.
If Barcelona and Real Madrid, play each other. With Barcelona -7 and Madrid +4, you can alter it to Barcelona -1 and Madrid +10.
Just like the traditional parlay, the payout increases as more teams get involved, but again, different bookies have their own rules and odds and the payouts may be different depending on the rules.
3. Progressive Parlays:
If you are frustrated with having to win all the selections to win the parlay, you might be particularly interested in Progressive Parlay. In this method, unlike any other parlay, the punter is given some room for error in exchange for lower odds. In such parlay, the minimum number of selections much at least be four and of those four, a punter is allowed to get one selection wrong. Hence with three selections won and one wrong, you still get the profits.
In case the punter chooses seven or more selections, then they receive the payout even if two of the selections are wrong.
4. Parlay Bet Odds:
There are two major types of parlay betting odds, Fixed Odds, and True Odds.
5. Fixed Parlay Odds:
Fixed odds are simply the odds chosen by the bookmaker before the start of a match. It can be as low or as high as the bookmaker desires.
6. True Parlay Odds:
True odds are the actual odds or probability of the match as opposed to the bookmaker’s initial fixed odds.
How to Place a Parlay Bets?
There are two simple ways to place a parlay bet. One way is to go to the ticket writer and tell them directly which teams and total combinations you want to bet on, also telling them how much stake are you willing to risk.
The other way is to fill a parlay card and giving it directly to the bookmaker.
What Happens If One of Your Bets PUSHES?
You might be wondering what “PUSH” means in the betting world, especially if you are a beginner. When one of the matches in a parlay bet ends in a draw, it is called a PUSH. In the case of a PUSH, the particular parlay wager is removed from the parlay and the payout is given for the remaining wager and hence, reducing the final payout odds.
Football Parlay Tips & Strategies:
Be it any sport or betting type, tips and strategies always come in handy. Here are some of the parlay bet tips and strategies that we will help you out with:
1. Avoid Fixed Odds Parleys:
Try avoiding fixed odds parlays. The profits obtained can be very low. In the long run, it might become a problem for the punter.
2. Start Small:
As with any type of betting, if you are just starting, always start small. Don’t bet all your money and at the end of the day, end up in a loss.
3. Keep a budget and stick to it:
Budget maintaining is very important when it comes to betting. Money keeps slipping even before you know it. Betting can be addictive once you start winning. Hence, stick to a daily budget and spend no further.
4. Check what the maximum payout is?
In parlay betting, odds can be pretty high, and profits can also be humongous. Sometimes you might win a total payout of $50,000, and the maximum payout might just be $25,000. You wouldn’t want that do you.
5. Have a lower number of selections:
As with the traditional parlay, you need to win all the selections in order to win the parlay bet. More selections just decrease your chance of winning the parlay. Hence, if you want to win, stick with a lower number of selections.