Are you interested in sports betting and looking to up your game? Parlays could be just what you need to add some excitement and potential big wins to your betting strategy. In this Parlays Betting 101 guide, we’ll cover everything you need to know about parlay betting, from how to bet them and calculating your potential winnings to the pros and cons and the best sports to bet on. Plus, we’ll give you tips on choosing a legit sportsbook and even recommend a top site to get started on your parlay betting journey.
Parlays Betting 101: What You Need to Know
A parlay bet is a type of bet that combines two or more individual bets into one single bet. In order for the parlay to win, all individual bets in the parlay must win. Parlays can include a mix of different types of bets, such as moneyline, point spread, and totals bets. Parlays are popular among sports bettors because they offer the potential for a higher payout than individual bets alone.
Are Parlays Only for Squares or Can Anyone Bet Them?
While some may associate parlays with novice bettors, anyone can bet on parlays. In fact, experienced sports bettors often use parlays as part of their overall betting strategy. However, it’s important to remember that parlays come with higher risk due to the requirement that all individual bets must win for the parlay to pay out.
How to Bet Parlays: Tips and Strategies for Beginners
When it comes to betting on parlays, it’s important to understand how they work and to have a solid betting strategy. Some tips and strategies for beginners include starting with small parlays, sticking to a budget, and considering odds boost promotions. It’s also important to research the individual games and bets included in the parlay to make informed decisions.
Parlay Payoff Odds: Calculating Your Potential Winnings
When betting on parlays, it’s important to understand the potential payout. Parlay payoff odds are based on the individual odds of each bet included in the parlay. Calculating potential winnings can be done using an online parlay calculator. Keep in mind that the higher the number of bets included in the parlay, the higher the potential payout but also the higher the risk.
Payoff odds example based on each bet in the parlay having typical -110 odds.
| Parlay Size | Payouts |
| 2-Team | 2.645/1 |
| 3-Team | 5.958/1 |
| 4-Team | 12.28/1 |
| 5-Team | 24.36/1 |
| 6-Team | 47.41/1 |
| 7-Team | 91.42/1 |
| 8-Team | 175.4/1 |
| 9-Team | 335.9/1 |
| 10-Team | 642.1/1 |
| 11-Team | 1227/1 |
| 12-Team | 2343/1 |
| 13-Team | 4447/1 |
| 14-Team | 8451/1 |
| 15-Team | 16307/1 |
| 16-Team | 31132/1 |
To figure out and calculate your winnings, you need to multiply the odds by your bet size amount. For example:
Let’s assume you bet $10 on a two-team parlay with the odds of both your picks being -110. You would win $26.45 ($10 x 2.645/1). Your total payout would come out to $36.45 (the $26.45 you won in addition to the $10 you bet).
Pros and Cons of Betting on Parlays: Is It Worth It?
As with any type of betting, there are pros and cons to parlay betting. On the one hand, parlays offer the potential for higher payouts and can add excitement to a betting strategy. On the other hand, they come with higher risk and the requirement that all individual bets must win. It’s important to weigh the pros and cons and decide if parlay betting is worth it for your individual betting strategy.
The Ideal Scenario for a Parlay Bet: What to Look For
When considering a parlay bet, it’s important to look for games and bets that offer good value and have a higher likelihood of winning. This includes considering underdogs with favorable odds, avoiding games with high point spreads in ultra competitive professional sports(ie NBA and NFL), and looking for matchups with favorable statistics and trends. It’s also important to avoid including too many bets in the parlay, as this increases the risk. Remember, you can win 5 out of 6 plays on a 6 team parlay but still lose the bet.
Best Sports to Bet on Parlays: Maximizing Your Returns
Certain sports lend themselves well to parlay betting, including college football, college basketball, and baseball. These sports offer a variety of individual bets that can be combined into a parlay, such as moneyline, point spread, and totals bets. Additionally, these sports have a larger number of games and odds to choose from, offering more opportunities for parlay betting.
Buying Expert Sports Picks from Top Handicappers: Is It Worth It?
For those who want to take their parlay betting to the next level, buying expert sports picks from top handicappers can be a smart move. These professionals offer expert insight and analysis to help bettors make informed decisions. However, it’s important to choose a reputable handicapper and consider the cost of the service. At NSAwins.com, we sell BEST BETS daily from World Champion Handicapper, Sonny LaFouchi(aka The LEGEND). Another top website for expert sports predictions are the Vegas Sports Insiders at VegasSI.com.
Choosing a Legit Sportsbook: Top Sites to Place Your Bets
When betting on parlays, it’s important to choose a legit sportsbook. Top sites to consider include Bovada, DraftKings, and Fan Duel. These sites offer a range of sports betting options, including parlays, and have a reputation for being trustworthy and reliable.
Start Betting on Parlays Today with Bovada Sportsbook!
Ready to dive into parlay betting? Bovada Sportsbook is a great place to start. This top sportsbook offers a range of betting options, including parlays, and has a reputation for being reliable and trustworthy. Plus, they offer a generous welcome bonus for new users, making it easy to get started on your parlay betting journey. So what are you waiting for? Start betting on parlays today with Bovada Sportsbook!
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Parlay betting can be a fun and exciting way to add some potential big wins to your sports betting strategy. By following these tips and strategies for beginners, considering pros and cons, and choosing the best sports and bets to include in your parlay, you can increase your chances of success. Plus, with top sportsbooks like Bovada and expert sports picks from reputable handicappers, you can take your parlay betting to the next level. So why not give it a try and see if parlay betting is right for you?