There are many ways to bet on sports and that is one of the beauties of gambling. Sports betting is more than just predicting the winner of a game or competition, there are plenty of other exciting ways to bet. One of the most popular ways to bet on sport is parlay betting and this is available at most of the top online bookmakers. On this page, you can find out more about parlay betting and where you can place parlay bets during the season.
What is Parlay Betting?
A parlay bet is a special bet that includes two or more selections. So, rather than betting on a single outcome, you can get on two or more outcomes and combine them together to make one bet. It is possible to use a variety of bets and combine them to make a parlay and the sportsbook will automatically create the wager. All you must do is click on the odds of your choice and when they are added to the betting slip, you will be offered a parlay, with the new odds calculated by the sportsbook. Nearly all online sportsbooks offer parlay betting, and most have the option to make parlays on the mobile app. According to sports betting site Gamble USA, not all parlay apps are created equal. Some excel when it comes to parlays, some should be given a wide birth.
Types of Parlays
There are distinct types of parlays and teasers are a good example. Commonly used on football and basketball games, teasers are bets based on the points spread. Choosing two or more teams, a teaser is one of the most popular types of parlays because you can move each point number and the point spread can be changed, usually between 6 and 10 points. Each leg of the parlay must use the same number and the more teams you add to the parlay, the bigger the potential payout.
If you want to place a parlay wager but cannot decide which team is going to win, an over/under parlay is a good option. You can usually bet over or under on a total number of points set by the sportsbook and if you select two more games on which to bet over/under, you have the beginning of a parlay. As highlighted above, most sportsbooks will automatically create an over/under parlay for you when you add the odds to your betting slip.
The easiest way to build a parlay for newcomers to online sports betting is by betting on the moneyline. This simply involves predicting the team you think is going to win a game, without the option of a draw. All you must do is click on the odds for the teams you think will win from a group of games and the sportsbook will create the parlay bet, with total odds. The more teams you add to the parlay, the bigger the potential winnings from the bet. The moneyline parlay bet is a good way to bet on a series of favorites but doing so with improved odds. Round-robin and points spread are two other popular types of parlay bet.
Positives and Negatives of Parlay Betting
The major positive of placing a parlay bet is the potential winnings. You stand to win a lot more money if you bet using a parlay than by having a wager on a single outcome. The more odds you click and add to your parlay, the greater the overall odds of the parlay. As with any type of sports bet, the greater the odds, the more money you will win if the bet is successful. Combing a group of favorites is a clever way to bet on realistic winning bets but to do so at greater odds. Another positive aspect of parlay betting is the enjoyment. Rather than waiting for the outcome of one game, you are waiting for the outcome in several games. That means you bet could last the entire day or weekend, which is great fun.
However, for balance it is important to note the more odds you add to your parlay, the greater the risk of the parlay losing and the sportsbook winning. You only need one outcome to go against you and the bet is lost. It is also worth noting that some closely related outcomes from the same game will not be accepted in a parlay but that is a minor criticism and perfectly understandable.
Overall, a parlay bet is an extremely exciting way to bet during the season. Not only does it increase potential winnings, but a parlay bet also means you have greater interest in games you might otherwise ignore.