Are you an online gambler that wants to know how you can boost your annual sportsbetting bankroll more exponentially than ever? With Parlays explained can show you how to maximize your payouts with strategic multi-leg bets!
You’re looking to gather as much pertinent betting information as possible? If you answered ‘yes’ to either of the aforementioned questions, then you’re in luck!
Thanks to this MyBookie.ag original, you’re going to find out all about the fun-filled, payday-producing genre of parlay bets.
With that said and the 2015 NFL season inching ever closer, let’s get started.
MyBookie Teaches You Parlays: How to Boost Your Sportsbetting Bankroll
Sports Betting 101: MyBookie Shows You the Power of Parlays
How to Bet on Sports | MyBookie wants you to be a better gambler with our Sports Betting Guide
Table of Contents: Parlays Explained
A Comprehensive Beginner’s Betting Parlays
What is a Parlay Wager?
Best Strategies for Successful Parlay Betting
Pros and Cons of Betting Parlays
Bankroll Management: How to Bet These Types of Bets Smartly
Parlay Betting Can Be Profitable If Used Wisely
Cross-Sports Parlays?
Conclusion on Betting Parlays
A Comprehensive Beginner’s Betting Parlays
Parlay bets are one of the most popular choices in sports betting.
They allow bettors to combine multiple picks into one ticket for a bigger payout.
But with that bigger payout comes more risk.
Understanding how these types of bets work is key to using them the right way.
Many bettors chase the high payout but don’t realize how hard it is to win.
With smart strategy, though, parlays can be used to grow your bankroll over time.
This article breaks down what a parlay bet is, how payouts work, and what strategies give you the best chance at success.
We’ll also cover the risk, rewards, and how to manage your money when betting parlays.
Knowing how to use them smartly makes a big difference in the long run.
^ TopWhat is a Parlay Wager?
A parlay wager is simply a ‘combination’ bet that links anywhere from two to twelve (2-12) wagers together.
In order to win this type of bet, bettors need to win all of their linked bets.
If any one of the linked wagers loses, the entire parlay loses.
While adding more wagers or teams increases the chances of your potential payday.
he bigger the parlay, the more risk there is, so remember to make your parlay selections wisely.
How Does It Work?
A parlay is when you combine two or more bets into one.
Each bet in the parlay must win for you to win the whole bet.
If one bet loses, the entire parlay loses, no matter how many other legs win.
These types of bets can include point spreads, moneylines, totals, or even props.
Some bettors stick to one type of bet across different games.
Others mix different bet types across multiple sports.
Either way, the idea is the same: stack up picks for a bigger potential return.
Books allow anywhere from two legs to over ten.
The risk goes up with each added leg.
That’s why most winning bettors focus on small, smart parlays rather than long tickets with low chance of success.
Many sportsbooks also offer same-game parlays.
These let you bet multiple props within a single event.
They can work well when outcomes are connected, like a team to win and its quarterback to throw for a lot of yards.
Working Example in Action
Let’s say the Denver Broncos (-3) are playing the Kansas City Chiefs while the New England Patriots are (-8) against the Buffalo Bills.
Throw in the Green Bay Packers (-7) against the Chicago Bears and you have three NFL games you are feeling pretty confident about.
Now, let’s say you like the Broncos, Bills and Packers to all cover their respective point spreads.
Instead of placing three single-game wagers, you can make a parlay bet.
If all three of your games turn out to be winners, you win your parlay bet.
If one of the teams fails to cover their NFL betting line, then you lose.
If one of your linked picks results in a tie, such as the Denver Broncos winning their game by three points, then your wager will not result in a parlay wager loss.
That single portion of your parlay will be graded as a push and then the bet will then be reduced to a two-team parlay.
Whenever this type of bet gets reduced all the way down to one team or one wager because of a push will result in the entire parlay being graded as a push.
Your betting wager will then be returned to your account.
Understanding Parlay Payouts – The More Legs, the Higher the Multiplier
Each time you add a leg to a parlay, the payout multiplier increases.
A simple two-leg parlay of -110 bets pays around +260.
Add a third and the payout jumps to +600.
A four-leg parlay can hit +1000 or higher.
That’s because each leg adds a new level of odds to the equation.
The sportsbook multiplies the payout from each pick, making it grow fast.
But the chance of hitting every leg drops just as quickly.
Even a small miss ruins the bet.
If you hit three out of four legs, you win nothing.
That’s the tradeoff.
The bigger the payout, the more precise you have to be.
This is why casual bettors often lose money chasing big tickets.
It’s also important to remember that sportsbooks love parlays.
Their hold percentage on parlays is much higher than straight bets.
This means they make more money off parlays, so always understand the risk before betting one.
^ TopBest Strategies for Successful Parlay Betting
The best strategy is to keep your parlays short.
Stick to two or three legs.
This gives you a higher chance of winning while still getting a good payout.
Longer parlays rarely hit and can drain your bankroll fast.
Avoid putting big favorites in your parlay just to boost odds.
A -400 favorite doesn’t add much payout value, and if they lose, you lose everything.
Stick with bets that offer better value or even underdogs if the edge is strong.
Mixing bet types is another smart move.
You can pair a point spread with a player prop or a game total.
This gives you flexibility and allows you to target specific matchups with better odds.
Research is key.
Look at stats, injury reports, betting trends, and team news before placing any leg.
Never include a pick just to fill space.
Every selection must be based on strong logic and data.
^ TopPros and Cons of Betting Parlays
These types of bets offer the appeal of turning a small bet into a large payout.
Bettors like that they can risk $5 or $10 and win $100 or more if every leg hits.
This potential is what draws many to try them.
They also add excitement.
With multiple legs, you can follow different games and cheer for several outcomes at once.
It makes watching games more fun and gives you more rooting interest.
The downside is that they are much harder to win.
Even if you’re good at picking winners, getting two or three in a row is tough.
A missed leg ends the entire bet, no matter how good the rest of it was.
Another drawback is variance.
These types of bets increase volatility.
That means you may win big sometimes, but you’ll lose often.
That swing can hurt your bankroll if you’re not careful with your bet size and frequency.
^ TopBankroll Management: How to Bet These Types of Bets Smartly
Managing your bankroll is the most important part of betting.
This means setting aside a fixed amount of money just for betting and never going over that limit.
Only use money you can afford to lose.
Use a unit system.
Pick a small percentage of your bankroll as your bet size, usually between 1% and 3%.
For a $1,000 bankroll, that’s $10 to $30 per bet.
Stick to this no matter how confident you feel about a parlay.
Don’t chase losses by betting more to try and win it back.
If you lose a parlay, move on.
Stick to your plan.
Chasing often leads to bigger losses and poor decisions.
Track your results.
Write down every parlay you place, the legs, the sportsbook odds, and the result.
Over time, you’ll see patterns in what works and what doesn’t.
Use this to adjust and improve your betting strategy.
^ TopParlay Betting Can Be Profitable If Used Wisely
Parlays aren’t always bad.
They can work if used the right way.
Small, smart parlays based on solid research have value.
Many sharp bettors mix in two-leg parlays when they spot a good opportunity.
The key is to treat these types of bets like a tool, not a full-time strategy.
Use them to add upside to your betting plan, not as your main focus.
That helps you avoid long losing streaks that can wipe out your bankroll.
Set limits for how many of these types of bets you place per week.
One or two well-built tickets are better than five rushed ones.
Focus on quality over quantity to give yourself the best chance of long-term success.
When used alongside smart money management and value betting, parlays can boost your bankroll over time.
They should be part of a bigger plan, not the whole plan.
^ TopCross-Sports Parlays?
Did you ever think about cross-sports betting?
Well, some oddsmaker somewhere already beat you to the punch.
Cross-sports parlay betting is now a staple of the online betting industry.
Many experienced bettors consistently employ in their betting strategies on these types of bets.
You can parlay anywhere from two to 12 (2-12) events in a single parlay, covering anything from NFL action to college football, baseball, soccer or tennis.
How Much Cheddar Can You win?
Calculating how much ‘cheddar’ you could potentially win all depends on the size of your parlay wager.
However, in today’s technologically-advanced times, as you add teams to your bet, bettors can see their potential payouts in their respective account sections.
Now that you know all about making an NFL parlay wager or cross-sport parlay bet it’s time to head to the MyBookie.ag sportsbook and ‘put your thing’ down!
^ TopConclusion on Betting Parlays
These types of bets are a fun and exciting way to bet on sports, and with parlays explained, you will see how they can boost your payouts while adding extra thrill to your wagers!
The payouts can be big, but the risk is high.
Every added leg lowers your chance of winning, even if the odds look good.
To make these types of bets to work, keep them short, use research, and manage your bankroll.
Avoid betting long parlays without solid reason.
Stick to small, smart plays and only wager what you can afford to lose.
If used wisely, parlays can help grow your bankroll slowly over time.
Stay disciplined, track your results, and treat each bet like a business move.
That’s how you stay in the game and make the most of your betting strategy.
MyBookie’s Sportsbook Betting Guide | Betting Parlays
Since you now understand the basics of parlays explained, dive deeper into strategies and tips with MyBookie’s Betting Guide.
It’s time to enhance your betting knowledge and make smarter decisions when combining multiple wagers for bigger payouts!
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