The Pros and Cons of Parlays: A Comprehensive Guide to Multiplying Your Winnings

Parlay is a high-risk, high-reward style of betting wherein you combine multiple bets into a single wager in order to multiply your winnings. The more the number of bets you include in the parlay, the bigger the potential of winning, and the bigger your loss potential. This is because for the parlay to win, all legs in the parlay must win, else the entire bet is graded as a loser.

The payout of parlay bets is usually calculated by sports betting consultant in two ways – either the odds are fixed on a chart which is usually offered at –110 odds, wherein the selection payout will be 13/5 odds, or the odds will not be fixed, and the bettor will have to calculate them first in case the payouts cannot be calculated.

Parlay bets can be played in two ways:

Teaser

The bet allows you to move the lines of each strong favorite selection. The bettor receives low odds as compared to a standard parlay with makes for easier wins.

Pleaser

It is considered just the opposite of the teaser bet, as it allows you to move the lines of each favorite selection in the opposite direction, making the selection quite difficult. Although you get a large payout, a pleaser bet is less favorable compared to a teaser.

Low risk parlays:

Placing multiple bets on a single wager and receiving huge payouts presents a huge risk of betting with odds that are far from the true value. So, if you have selected multiple teams, the sportsbook can manipulate the odds against their favor.

Correlated parlays:

The wager allows you to place two bets that are tied together. If one of the bets is successful, the possibility of the second bet being a success will also increase. The odds of winning huge payouts in correlated parlays increase significantly when one side of the parlay bet is a success. However, the success of the correlated parlay bet is determined by the quality of your selections.

Progressive Parlay:

This is a combined wager on multiple sports events with a joint wager. Unlike a regular parlay, a progressive parlay allows you to win the entire stake at a low payout, even if some of the individual bets fail. In case all the bets are successful, the bettor stands to receive a large payout.

Pros of parlay bets

· Small risks can lead to large rewards

· You get rooting interests in multiple games

· Multiple sports and leagues can be combined in the same wager

· Bettors can use moneyline favorites that have no value as a single bet

Cons of parlay bets

· It is difficult to win a parlay bet because all sides need to win

· Each added selection in the parlay bet makes it harder to win

· Depending on the site, certain markets are not included in parlay bets by sportsbooks

To multiply your winnings, a sports betting consultant may suggest you to stagger the starts of games in the parlay to keep the rooting interest alive for a longer period. This method will keep casual bettors from chasing the bets all day long. The sports betting consultant may also suggest you to keep parlays small, both in terms of the amount wagered, and the total number of legs included in the bet, to improve your chances of winning, even though it will be more modest than a long-shot bet. Whether you are into favorites or underdogs, sports betting consultant may suggest including Moneyline in your parlays. Some of these favorites may have no value as a single-game wager but will boost the odds of your overall parlay.

The Winible Blog

To learn more about pros and cons of the parlay pets and other interesting information related to sport betting, handicappers, and more, you should read The Winible Blog.