Maximizing Your Winnings: Understanding Parlay Odds and How to Use Them

A parlay bet is when a bettor makes two or more wagers and ties them together on the same bet. If any bet in the parlay loses, the entire parlay loses, but if the parlay wins, the profits multiply and the bettor gets a bigger payout. A parlay links bets together, so they are treated as one big bet. You will get bigger and bigger payouts from sportsbook as you add more games to your parlay. However, you need to employ certain strategies to maximize your wins through parlay odds, as if any bet in the parlay loses, the entire parlay loses. While there is no proven strategy to maximize your parlay odds wins, below tips from Winible’s sports handicappers may help you maximize your winnings.

Be ambitious

Parlays have the potential to turn a small stake into a juicy bank-boosting payout, but you need to be ambitious for this. Link together those gut-feel wagers that you otherwise won’t stake a full or more units. Successful parlay odd bettors turn a 10-1 half-unit parlay into a 5 unit bank booster with double-figure parlay odds.

Parlay moneylines

Parlaying moneylines can be a successful strategy if you believe in the outcome of a game but want fewer risk factors. Lowering risk will lead to a lower payout but you have a higher probability of being graded as a winning wager.

Include a mix of favorites and underdogs

Include a mix of favorites and underdogs in your parlay odds; if the favorite wins, the underdog will help in balancing out the loss. If you have won all the games in the ticket, say, at IPM ET and 4 PM ET, you may want to consider hedging the parlay ticket with a parlay odds bet on the opposite side, if you are looking into the potential payout into the last leg of the parlay. This hedging strategy of parlay odds will guarantee winnings, or at least safeguard your stake.

Avoid the point spread

Avoid the point spread, at first, it may seem to be a juicy parlay odd because three bets against the spread (ATS) multiply to just shy of 7-1. But this is not the whole picture. The true odds of this three-leg parlay are actually 8-1 as each individual leg has a 50/50 chance of landing. The only caveat to the poor value of the point spread parlay is if the bettor believes that they have found the games wherein the sportsbook may have the sports handicapper wrong.

Use free bets on parlay odds

Many online sportsbooks reward clients with free bets for making deposits, regular betting, and loyalty. Use these free bets on your parlay odds, so you can take a shot at a combination of wagers that deliver you final odds that are more enticing than the other uninspiring favorites.

Use correlated parlays

Use correlated parlays, which involve combining two related bets. For example, a customer may parlay the over on a game with a large spread favorite, and the money line for that same favorite. So, if the favorite wins by a large margin, the game will likely go over the total, and this way both bets will be successful.

Use double underdog parlays

An unrelated but powerful parlay is the underdog double. By carefully scanning markets, choosing two value underdogs, and sneaking them into a double, you can start down odds of +400 or better. A double underdog parlay can represent more value than a bundle of favorites. NBA (National Baseball Association), and MLB (Major League Baseball) throw up double underdog winners seemingly on a daily basis.

For more tips to maximize your wins through parlay odds, you can hire any of our highly experienced sports handicappers.