Learn how to Bet a Parlay :Football Parlay Tips

Learn how to Bet a Parlay :Football Parlay Tips

Parlay Definition

A parlay is a wager type in which two or more bets are linked together to create one bet with a greater payout. But all the selections must win for the best to cash.

Sportsbooks will give you bigger and bigger payouts for adding more games to your parlay, because winning it gets more unlikely with the more teams you add.

You can parlay point spreads, moneylines, over/unders, player props and more. Favorites, underdogs, you name it. Most people betting parlays will try to create a lottery-type payout with many games tied together.


Football Parlay Tips

Whether you include parlays in your football betting or not is, of course, entirely your choice. If you do decide to use them, please try to always bear the following advice in mind.

Avoid Fixed Odds Parlays

Earlier we explained the differences between fixed odds parlays and true odds parlays. You should really avoid fixed odds parlays as a general rule, because the payouts are effectively lower than they technically should be. It’s hard enough to make a profit from these wagers in the long run without the odds being shaved.

Most betting sites will automatically calculate the payout for parlay using true odds rather than fixed odds if any of the selections are at odds other than -110. So a good trick here is to always try to include such a selection. Doing basically forces a betting site into paying out at the better odds.

Keep your stakes small

You should never risk too big a percentage of your bankroll on any wager, and this rule is especially applicable to parlays. You could easily place dozens upon dozens of parlays without winning one, so they’re a surefire way to go broke if betting them with big stakes.

There’s no “correct” for how much to stake on parlays, but we’d recommend staking less than you usually do on other wagers. If you typically stake $50 on a point spread wager, for example, then somewhere between $10 and $20 is about right for a parlay.

Keep the number of selections down

This a pretty simple tip, and perhaps a fairly obvious one. It’s worth mentioning nonetheless. The more selections you include in a parlay, the harder it is to get right. The payouts go up of course, but you’re far more likely to turn a profit on parlays in the long run by trying to win a few smaller ones than you are by chasing that one big payout.

Check the maximum payout

Bookmakers and betting sites almost always a maximum payout. This means that the amount you can win on any one wager is limited. This is unlikely to be much of an issue for you unless you’re a serious high roller, but it can potentially come into play with parlays. Let’s say, for example, that you place a $50 15 team parlay. The correct payout for this wager if it won would be $75,000 (based on odds of +150000), but a betting site might have a maximum payout for a single wager of $50,000.

If this was the case, $50,000 is “all” you would get. So there was no point in risking as much as $50. This is something to bear in mind if you bet parlays at fairly high stakes and/or include a lot of selections.