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A parlay is a group of straight bets grouped into a single bet. If you were to play a three-team parlay, for example, it would be as if you bet on the first game, took your initial bet plus all the profits and bet them on the second game, and then rolled everything onto the third game. By betting a parlay you are getting a better payoff than you would if you were just to straight bet those games. If you got all three games correct, you would make a profit of $ 273 on $100 bets by straight betting, but you would have netted $600 on the parlay.
You can bet a two-team parlay, or you can combine as many teams as you want on one ticket. In the sports betting on line world, parlays have the potential of providing online sport betting gamblers big paydays. There is one thing that is certain in the cyber sport books world – the sportsbooks certainly want you to play the parlays, and the more teams you play, the happier they are. The sportsbook has a big edge on the parlays and the edge gets larger as you include more teams. That’s because the payout for each wager is lower than the true odds for the bet. Take a two-team parlay, for example.
There are four possible outcomes for two games – you can win both of them, lose both of them, win the first and lose the second, or win the second and lose the first. Of those four, only one of them would be a winning parlay bet. That means you have a one in four chance of winning, or true odds of 3/1. Giving up that much of an edge is too much to handle for many online internet sports bet gamblers, so many sharp gamblers prefer to make straight bets instead of parlays.
There are some cases in which playing a parlay may make sense. One case is if you have strong feelings about three or more games, but you don’t have a big enough bankroll to profit from your strong feeling as much as you would like to. Say you have $150 to bet with. By straight betting $50 on each game, you would end up with a profit of $136 if you were right on all of the games. By betting that same $ 150 on a three team parlay you would make a profit of $900 if you win. In both cases your worst case scenario is the same – a loss of $150. For some online sportbooks gamblers, the potential winnings more than make up for the edge you are sacrificing and the higher risk of ending up with nothing.
So are parlays worth betting ? Yes and no, it depends on why you want to bet them. For a serious sports betting on internet gambler concerned about slow, long term gains then they cost you too much to make them worthwhile. For a virtual sportsbooks gambler who is looking for excitement and potential big paydays, however, they may be just the ticket. You just have to decide what works for you.