How to bet on parlays

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Our advice would be to focus on sporting events with just two or three potential outcomes, and view a horse racing parlay bet as the sports betting equivalent of a lottery ticket! How to Place a Parlay Bet At this point, you should have a good understanding of how parlay bets work and why they are so popular in the sports betting world.

But how do you place a parlay bet? Simply follow this three-step process: 1 - Make Your Selections The first step is to make your selections, and this is the step that you will want to spend the most time on. As stated earlier, try to focus on events where there are as few potential outcomes as possible. If you bet online then it will obviously be a virtual betting slip, and you will need to enter your selections one by one.

When completing your betting slip, try to enter your selections in the order in which they will take place. This will make it easy to see exactly how the bet is progressing at any given time. Those of you who place your bets online will find that the sportsbook automatically lists bets in time order in your account for reference purposes, which is handy. You can of course bet whatever amount you want, but with parlay bets it is usually a good idea to calculate the return of the bet before deciding how much to stake.

Remember that the bigger the potential return, the harder the bet will be to land, so you should stake accordingly. Many sportsbooks will calculate the projected return automatically, in which case you can simply go ahead and stake accordingly. Otherwise, you will have to calculate the parlay odds for yourself, which is our next topic of discussion.

In decades gone by, serious bettors always went about their business with an electronic calculator in their pocket. These days you can just as easily use the calculator on your mobile phone or desktop computer. To calculate the return of a parlay bet, you need the odds for each leg of the bet in decimal format. If you only have American or fractional odds, use our Betting Odds Converter tool to convert them into decimal odds before proceeding.

When you have all of the odds in decimal format, all you have to do is multiply them together. This will give you the total return of the parlay, including 1 point for your stake. Deduct 1 and you are left with the odds themselves. The Parlay Betting Calculator We have outlined how to calculate parlay betting odds so that you know how it is done. You can also use our free Parlay Betting Calculator to do all the hard work for you. Getting Started in Parlay Betting Parlay betting is best approached in a strategic way.

For that reason, we will now present a selection of tips and strategies for both beginners and more experienced bettors. Beginners are therefore advised to focus on lower-odds outcomes wherever possible, as that will maximize your chances of success. Consider a five-leg parlay with odds of for each leg.

This makes losing bets extremely common. Each wager, in this case, must be placed individually. A four-team round-robin has 11 different possible combinations to bet. Same-Game Parlay A same-game or single-game parlay is a bet that utilizes correlated wagers for the same event to earn higher payouts. The idea of correlated wagers is that the outcome of one bet can increase or decrease the likelihood of another leg cashing.

One example is the correlation between spreads and totals of a football game. Say Michigan is 28 point favorite over Appalachian State with a game total of If the Wolverines cover that high spread, there is a good chance that the game total will exceed 51 points. This strategy can also be used when betting player props. If you are making a bet on the over in a Buccaneers vs. Chiefs game, there is a good chance that the starting QBs will go over their passing totals. You are confident in both games going under the total and want to parlay them together.

A simple example would be to consider a day where the New York Yankees If you plan to bet on both anyway, there is a lot to gain from putting them into a parlay instead. How to Bet a Parlay Betting a parlay is not much different from putting together a bet slip for a single game. After you select a game and wager amount for the game, instead of submitting the card, simply add another event. This will automatically parlay the games together and tell you the updated payout and odds.

Calculating Parlay Odds and Payouts Serious bettors should familiarize themselves with how to calculate odds and payouts manually. There are a few steps that require a bit of basic math to get through. First, if you are using American odds, they must be converted to decimal odds.

Once you have all the odds in decimal form, multiply them together. Take that number and multiply it by your bet amount. Finally, subtract your initial stake to get the odds for your parlay. This is one of the most frequently asked questions regarding parlaying bets in sports. Luckily the answer is simple and does not punish the player for a game that is called off. What happens to your parlay? Rest assured that the bet is not graded as a loss and qualifies as a push.

This means you will not lose your parlay on a canceled game. This also goes for games that end in a tie. In these cases, the leg is removed from the parlay altogether. Payouts are adjusted accordingly. Pros and Cons of Parlays Pros Higher payouts: Because parlay bets are more difficult to win, the odds of doing so are usually very valuable. Every time you add a team to a parlay, the odds shoot up significantly. While hard to do, hitting each leg and winning a parlay is worth it if only for the huge payday that often follows.

There is no denying that parlay bets are more fun than straight bets. There is nothing quite like the feeling of a parlay coming down to the final leg at the end of a long day. Cons Difficult to win: The biggest drawback of parlay betting comes down to how difficult it is.

Wins in parlay betting are few and far between, with most victories coming on two or three-leg parlays.