One of the most exciting things in sports betting is making a substantial profit with small bets. If you also try this experience, it is recommended that you get to know about Parlays. Parlays are also known as Accumulators and they denote the same common type of bets. In this article, we will refer to it uniformly by Parlays.
what is Parlays？
Parlays are large bets that are formed by stringing together several bets, meaning that it is actually a combination of two or more smaller individual bets. These individual bets can be of different bet types such as spreads, win bets or over/under bets. The best feature is the ability to win more with less.
However, the high reward also means high risk, as its win condition is that all the ndividual bet you choose must be correct in order to get the prize. The difficulty is relatively high, so you need to entice gamblers to place their bets by offering huge rewards.
Next we use an example to help you understand it.Suppose there are two matches that you want to bet on today:
Here are the odds for these four teams：
Let’s say you have $200 in original bankroll and want to place individual bets. You bet $100 on team A and $100 on team C, and both win. In this case you would get：
$100➗120+$100➗110=$174
If you are playing Parlays, there is only one scenario where you will get a bonus, and that is when you bet on both matches correctly. As we said before, the odds offered by the bookies are close to the actual probabilities. Therefore, if we were to calculate the odds of winning both matches it would also be the odds calculated by multiplying the odds of the two separate bets. In the case of multiplication, the odds become even smaller and more difficult to achieve. This is why Parlays have great prizes.
In the above case, if we play Parlays and win, for better understanding, we convert the Moneyline odds into decimal odds.
Team A’s odds, converted to decimal odds, are 1.83
Team B’s odds, converted to decimal odds, are 1.91
The Parlays’ odds are 1.83✖️1.91=3.49
The prize money we can get when we win is：
$200 ✖️3.49 = $698
Subtracting our original principal of $200, our net profit is $498. Much more than the amount we would have received if we had bet separately.
Therefore, Parlays could give us a more generous bonus when we win, however he is more difficult and riskier. Once we have one of the choices wrong, we will lose all our money.
Whereas if we make two separate win bets, even if we lose one game, we can still take away the winnings from the other. This reduces the risk of betting.
With no restrictions at the sportsbook, your Parlays can be wagered as many times as possible. If your Parlays consist of two bets, it is called a two-teamer, if your Parlays contain three bets, it is called a three-teamer. and so on.
If we bet $1 on 10 games with odds of -120 per team, we’ll get $421 when we win! But the problem is that we have to bet on 10 consecutive games to win. This sounds difficult and is even more difficult to operate!
Summary
In general, the more bets Parlays contain, the higher the payout we get and the lower the probability of hitting. To be able to win Parlays, we must pay attention to all our individual bets.
If you are interested in sports betting, please click on the following links for more content shared on the site about sports betting：
1.Sports betting: some basics you need to know
2.Odds: What you need to know about professional betting
3.Explanation of the concepts of value and probability in sports betting
4.Important tips on Sports Betting
5.Mistakes to avoid in sports betting
6.Explanation of common sports betting types
6-1.Explanation of Moneyline/Win Bet
7.Sports Betting Strategies — How Bookies Ensure Their Profits
