Betting, also known as gambling, is one of the numerous byproducts of sports, with the World Gambling statistics showing that there are almost 1.6 billion bettors around the world. Parlay betting is just one of the several types of betting that exists. All around the world, various regions and countries use different terms to describe parlay. Some call it accumulators, multis, combo bet, or Acca. Regardless of what it is called, a parlay is undoubtedly a betting not for the faint of heart. It requires bettors to spread their net across to make a big win, potentially leading to a big win or a major loss. This article will discuss three sports that parlay betting works perfectly with.
What is parlay betting?
Simply put, a parlay is a bet which connects two or more single but separate bets and depends on the single bets altogether, making a win. It links together several small, individual wagers and makes it into one big bet, known as a parlay. This is done by pushing over winnings from different bets into another until all wagers in the parlay are won. Bettors prefer to parlay bets since it offers a higher payoff compared to separately placing single bets.
The major disadvantage of parlay betting is that if a bettor loses any of the single bets in the parlay, the other bets are useless, regardless of whether they were successful bets. Various wagers can be placed to build a parlay bet, although correlated bets are not allowed. This means bettors are not allowed to place wagers on a game in which the outcome of one game directly affects the other. Allowing this will obviously lead to an extremely huge payout and significant revenue loss for the sportsbook. A parlay, however, continues to remain appealing among bettors because of its potential to give a whopping win. Most sportsbooks entice bettors by adding more games for higher payouts. Of course, this usually ends in the bettor losing all their previous individual bets won, giving the house a major advantage.
How to parlay bet
There are multiple means of placing a parlay bet, but it’s recommended bettors who are new to parlay betting get assistance. Several sportsbooks, both online and land-based, allow parlay, and usually, the odds are calculated by the house. Some casinos also offer parlay cards for players who wish to link their games together into one big wager. This card is used to pick team bettors who wish to place their wager on the total amount of the wager. The card is submitted to a ticket writer, together with the cash you wish to use in betting. As an illustration, a bettor who places a wager of $100 on a four-team football parlay, and all four teams win, the bettor may get almost 20x the initial wager, depending on the sportsbook.
3 sports parlay betting is popular
Parlay betting in the NFL is very common and popular, especially among football fans who love this type of betting since it offers the chance to get a higher payout. Bettors get to pick 2 or more of their favourite teams and mix it up with several games and totals to get a greater payout. Each parlay win is determined by the odds of each game.
Similar to every other parlay betting, betting in the NBA is simply placing individual wagers all tied up into one single NBA bet. The NBA parlay bet involves a combination of various selections, and every selection must be won for the parlay to be successful. The difference here is that the odds of an individual selection are multiplied to give better-paying odds. It’s best to stick with strong teams and limit stakes to just 3 or 4 teams.
The EPL is one of the biggest soccer events and where several football lovers enjoy placing parlay bets. Football odds are extremely favourable, and matches are sometimes easy to predict. Before placing bets, bettors have access to football statistics, pundits’ review, and match history. All these make parlay betting in football easier.
For first-time bettors or those who simply bet casually, it’s best to avoid parlay betting. This is because parlay bets can be financially risky.Follow paulmbanks