Butuhwin - Easy Tips to Understand Parlays in Online Football Gambling — Simply put, a parlay bet is a combination of two or more individual bets for the purpose of getting better odds. Each selection will be on the same bet slip or card. Generally, you will need each individual bet to win, but there are some types of parlay bets that allow for one or two losses, depending on the number of selections. Does this make sense? Don't worry if not, I'll explain everything in more detail later.
How Parlays Work
A parlay, as I mentioned above, is a combination bet consisting of more than two selections. There are usually between two and eleven selections, but never less than two (because that would be a single). You place one bet on all the selections. The winnings accumulate and increase with each successful selection. If you do it right, you could be looking at a very happy afternoon.
However, those who tend to err on the side of caution can swallow sky-high odds, but that’s often what makes parlays fun for everyone else. The payouts for solid parlays can be huge, so casual gamblers and sports fans looking to spice things up tend to gravitate toward these bets. There are a number of different types of parlay bets that will suit most gamblers. I’ll explain what these are, below.
Different Types of Parlays
To answer one of the most common questions about parlays, yes, you can mix up your selections. In other words, if you want to include a couple of football games, for example, with a hockey selection and another on boxing, that can be done. Where it’s not possible to mix it up sometimes is with fixed parlays, which I’ll cover below. First, let’s take a look at the most common parlay bets.
Moneyline
There is no doubt that the Moneyline bet is the simplest when it comes to betting on parlays. In basic terms, this bet is usually placed by those who have no interest in spreads or numbers, in general. Putting together a Moneyline bet is easy, as it basically involves picking a team to win. My first parlay was a five-selection bet on football. It didn’t win, but that’s another story!
Over/Under
If points are your thing, then you’ll be happy to know that Over/Under bets also known as “Totals” are allowed on parlays. If you’re not familiar with Over/Under bets, it’s basically this: bettors are effectively trying to predict whether the total points scored in a game will be over or under what the sportsbook or oddsmaker is offering.
Teasers
Teasers are a great way to bet and I believe every gambler should use them when building their parlays. Teasers are just like point spreads, only the gambler can adjust the point spread, with the points usually swinging around 6 to 7.5. In other words, the sportsbook has set the spread but you can move the points to better suit your predictions. Pretty cool, huh?
One thing you always need to remember with Teasers is that the payouts will be smaller than a regular point spread bet. The points have been set by the Sportsbook for a reason, so making changes to these to favor your own goals will put the bookmakers at a higher risk. Don’t let this deter you, because I have found that Teasers can be very profitable if done correctly.
Pleasers
You are probably wondering what this bet entails, right? Simply put, a Pleaser is kind of like a reverse Teaser. In other words, it is a parlay where you can adjust the line to make it harder for them to win. The points that your chosen team needs to come out on top are now greater. However, you will be paid at higher odds due to the smaller risk for the sportsbook/oddsmaker.
Mixing Up Your Bets
For fans of multiple sports, this can really add excitement to the process. With football and basketball probably being the two most popular sports, most bettors will place parlays on each of them. On top of this, you can also add a boxing or MMA fight in there if you so choose. Then, if there is a big football game that you are interested in, you can add that into the mix as well.
Calculating Your Parlay Winnings
I am not going to waste your time here trying to be “Bill Stann the Mathematician,” and using algebra and trigonometry to figure out your bets. The best tip anyone can share with you when calculating your parlay winnings is to use a parlay calculator, or, better yet, place your parlay bets online. Sportsbooks have calculators that will give you this information as you place your bets.
However, if you are interested in how parlays are calculated, I won’t throw you overboard. Below, I will explain how it is done:
Calculating Parlays Manually
When it comes to manually calculating the odds on a parlay, you should know that there are fixed and non-fixed odds that apply.
When it comes to making selections that all have different odds, you multiply the odds of all the selections together. For example, let’s say you have a parlay with three selections:
Game 1: Odds of 1.85
Game 2: Odds of 1.49
Game 3: Odds of 1.72
1.85 x 1.49 x 1.72 = 5,060. These are the odds you are getting for your parlay. Therefore, if you bet $100, you can expect to win $506 (5,060 x 100). Simple, right? Now, when it comes to a larger parlay one with 11 selections, for example, you will need to multiply the odds of each selection against the others. At some point, you may ask yourself, “why don’t I just use a calculator?”
Fixing Parlay Odds
Fixed odds parlays are usually available for spread bets where both teams have the same odds. If you remember when I discussed the need to level the playing field, this makes sense. If not, please go back up and read it again. It’s for your own good.
With fixed odds, 2, 3, 4, 5, 6 or more selections will pay according to the odds next to that bet on the website or sportsbook. This is the easiest way to work, as all the hard work is done for you.