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Parlay betting explained
Sep 04, 2020 Betting on sports starts with choosing a bookmaker and there are several reputed online bookmakers around the world. These betting sites all have the correct permits to offer online sports betting. Moreover, they fall under the control of the Gaming Authority of your country and in some cases, also by other international gaming authorities. Betting on sports starts with choosing a bookmaker and there are several reputed online bookmakers around the world. These betting sites all have the correct permits to offer online sports betting. Moreover, they fall under the control of the Gaming Authority of your country and in some cases, also by other international gaming authorities.
In the easiest terms and most simple definitions, a parlay is a single sports bet that involves the combination of two or more bets. That means a player needs to win all the bets involved in the parlay to win the parlay. Of course, the odds of doing so are much greater, making parlay payouts much bigger than betting on individual events.
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Picking one winner is hard enough. Picking more than one winner together is much tougher, which is why parlay payouts are so sizable.
Putting together multiple underdogs in a parlay can create a ticket with a large payout. It’ll be significantly smaller if you put together a parlay with all favorites. However, both are tough to win. In sports, anything can and will happen. The more games you bet on in a parlay, the more chance something unexpected will happen in at least one of them.
Sportsbooks love parlays because they’re so hard to win, making them quite profitable for operators.
In fact, according to University of Las Vegas Nevadagaming researchers, Nevada sportsbooks win more than 30 percent of the parlay bets they book, compared to a total of seven percent for all other bets.
Bet on the Philadelphia Eagles to beat the New England Patriots and the Philadelphia 76ers to beat the Boston Celtics together and you’ve just made a parlay bet. Add in a few more bets on other NFL or NBA games and you’ll see how tough it can be to win a big parlay.Placing parlay bets
Gamblers have two ways to place parlay bets in person.
The first involves telling the attendant at the ticket window which teams and totals they’d like to bet on as part of the parlay. Plus, you specify exactly how much they’re betting.
The second involves filling out a parlay card and taking that to the window. Ladbrokes football betting odds for today.
Of course, most mobile sports betting apps accept parlays in much the same way.#Winning
There are actually two ways to win a parlay.
The first involves none of the sides, totals, or moneylines losing. That means a parlay is still a winner if a game is canceled or ends in a tie. These games are simply removed from the parlay as if they were never there. The payout is adjusted accordingly.
Of course, the second way to win a parlay is to pick all winners.
In short, all winners, or at least no losers, makes for a winning parlay ticket.The odds
When it comes to parlays, sportsbooks almost always offer different odds on the different games depending on the number of games bet in a parlay. Things can get a little confusing here, considering it means different sportsbooks will often have different odds and payouts for exactly the same parlay.
Plus, all these odds are subject to change at any time. Particularly with parlays, gamblers need to:
*Shop around to make sure they’re getting a good price
*Double-check tickets to make sure all the odds are correct
*Check back with the sportsbook prior to games to see where the odds are atChanging parlay payouts
Of course, once a parlay bet is placed, the payout is locked in. That means even if the line moves for one of the games in the parlay, the parlay payout stays the same. Only parlay bets made after the change are impacted. However, it does mean a gambler might lock in one payout for a parlay on Tuesday, only to find a completely different one for exactly the same parlay is available on Friday.
This can work both for gamblers, and against them.Parlay types
The two most common variations of parlay bets are Round Robin parlays and Teasers.Round Robin parlays
Round Robin parlays involve making multiple parlay wagers at one time. It’s like boxing horses for an exacta or trifecta bet in a horse race. Gamblers make more than one parlay bet revolving around a specific group of teams or totals, putting together various combinations of similar bets.Teaser
Teasers are a variation on a traditional parlay allowing gamblers to move the point spreads or totals. Because the spread and totals can be manipulated, teasers pay less than a traditional parlay.
Point spreads and totals can be changed anywhere from six to 10 points, but each bet that’s part of a teaser must be teased by the same number of points. That means if the New England Patriots are favored over the Philadelphia Eagles by seven points, and you tease it down six points, you’ve got to move the other spreads in a teaser by six points as well.It’s in the cards
Most sportsbooks offer parlay cards for gamblers to fill in and place parlay bets. These long narrow cards allow gamblers to personally fill in the bets they would like to include as part of a parlay, making it easier on both the gambler and sports betting window attendants taking the bets.
Many sportsbooks also offer different types of parlay cards for the different parlay and teaser bets they offer.
Lead: A bettor who wants to be profitable must two things: an advantage over the bookmaker and a well-disciplined betting method.
Although, for a minority, extended knowledge in a given sport is sufficient, most bettors are only giving money to bookmakers, because their only motto is ’betting’.
So what should you consider before placing a bet? Which of the groups do you fall into?
We know that a bookmaker generally has greater knowledge than the bettor about the possibility of a particular event occurring. This is because bookmakers have access to all the information available on the market and therefore know what value to place on a bet.
Sports Betting - Everything you need to know
Source: UGC
However, the bettor can and must determine some aspects that will be essential to successful betting.
Those whose main objective is to profit from sports betting will certainly want to bet on teams they know, as they will not make money consistently with something random without prior knowledge. For this, to check out the list of ’Matches of the Day’ is an asset to facilitate the choice of an event.
Chosen the sport, it is time to have sustained indicators in the past. That is, when placing a bet, you will be trying to predict the outcome of an event that will take place in the future, and it is the past that ends up providing the best indicator of probability. Therefore, a good bettor has great benefits when using statistical data in the forecasts themselves.
How to do it? On the Betting Academy website, under ’Statistics’, you will have access to results of head to head matches in the last 3 years or access to the position of a particular team, as well as the results of the last 10 matches in all competitions.
After the information is absorbed, the bettor must compare his predictions against the odds available in each bookmaker. This comparison can be done at the Online Betting Academy, as it gathers all the odds from the bookmakers for each event.
Another way to try to be profitable in sports betting is to learn from those who have gone through the whole process and who are now profitable. A good option is to watch the YouTube videos of Paulo Rebelo. Paulo Rebelo lives in England and is considered one of the greatest bettors in the world. This bettor provided a free course, on video, on the Academy website, in the area ’Sports Betting Course’.
Thus, research work is critical, because it will sustain a betting model that can be used to test predictions and see if they will result in profit. If it does not work or if it doesn’t work very well, it needs to be constantly tested to ensure long-term success.
Being a good bettor only will depend on you and, as you may have noticed, there are many ways for this to become possible.
This article was written based on the features of Betting Academy UK, one of the most complete sports betting sites in the world and which is also available in its Betting Academy Nigeria version. Everything You Need To Know About Sports Betting Advice
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