Parlay Betting 101
Why is it that 70% of all wagers at sports books on the strip in Las Vegas are Parlay’s?? Because Players Love Action!! And there is no other multiple sports pick wager that offers such opportunity for bettors. It is by far the best way to increase your odds. Picking two winners pays 2.6 or $260 for a $100 risk, and there is no juice.
Most sports books payout on parlays are (assuming all games are at line of -110):
|2 team parlay
|3 team parlay
|4 team parlay
These pay outs are based on amount wagered and on the line. The beauty of Parlay Betting is that it offers you a possible hedge. In other words, you don’t have to hit a 4-team parlay to be paid 5-1. For example, if your first 3 teams win and the 4th game is a late game or the night game, you can bet the other way for 1/2 the amount that the parlay would pay and lock in a profit. Hedging is one of the best tools that a smart parlay player has to maximize his profits. Especially in Football Parlays where there is a night game which you can play the total which usually remains the same if the line on the parlay is not the exact line at the time of the hedge it is not a lock, and there is still risk.
One Sports book manger in Las Vegas recalled a football parlay card that offered $100,000.00 to any player who could run the table. A player asked his wife to go to the Sports book on that Sunday because she was up early and NFL games start at 10 am in the PST so when she came back with his card she had reversed all his picks, thinking the picks he had drew a line under meant he didn’t want that team, in short he would have gone 0-15; but instead, they had to payout $100,000 to the worst layer on the strip, thanks to his better half. To make it worse another player the next weekend decided to take every dog on the card, needless to say, the casino had to payout another 100K two weeks in a row.
Another reason Parlay betting is so popular is because things like this really happen. This one is the stuff dreams are made of. One Wednesday in September just before the start of the NFL season, a player decides to play a 10-team parlay over 5 days with 8 games he loves in baseball mixed with some NFL games in week one at an early line he, being from Tennessee he took the Titans at home – 1 ½ over Philly to top off a 10-team play that paid $86,000 and change on a $50 play that started Wed going 8-0 in Baseball Won Sat an NCAA Game and had to wait till Sunday’s Tennessee vs Philly game to be complete and graded. After Philly took a 3 touchdown lead into halftime it looked dim but that early line proved valuable because Tenn. won by 2, covered and the player Won!!!!! More importantly got his money mainly because he was with a stable reliable offshore company.
Let’s face it, it’s hard to hit one game let alone 2-3 or 4 but that’s why sites like the www.theparlayking.com offer strategies on how to better increase your chance of having a winning day. Of all the mathematical, statistical and sometimes illogical types of parlay betting that exist; players must have a back up plan. There are a million bad beat stories when it comes to parlays. There’s an old saying among parlay players that says "don't get beat by your worst team" and "don’t have your sheet set up so if one game goes down it takes out all of your parlays." Don’t put all your eggs in one basket no matter how much of a lock you think that one game is. If you are playing multiple parlays you have to spread them out and mix and match. It means if you lose a 4-team parlay because the game you were least sure of you need to hone those skills to stay away from those traps. And by including the lowest team in too many plays can wipe you out quicker than a roll of the dice, on the flip side the payout on a 3-team play with a good $ line dog can provide a big lift to your bankroll and that’s why players love the parlay itself. In this Basic Hedge Parlay Strategy, we recommend that a player play a 3-team parlay and back it up with a straight bet. For example,
THE SHEET SHOULD LOOK LIKE THIS:
||3 TEAM SPREAD PARLAY
||100 RISK to pay 600
The Best Game is DALLAS. Bet 3 units on DALLAS and 1 unit on the parlay The key here is the best bet has to win or all wagers are lost.
A Round Robin is the Parlay lovers dream when it hits and a nightmare when it loses. If you can pick winners at a better than 50% rate, you will have the action but not make a lot even if you go 3-2. Depending on the odds you could be up a few bucks, if you go 4-1 it’s a savior on what would have been a missed straight 5 team play. All parlay players have been there. The $6,000 payout on 7 team play that went 6-1 paid 0. The round robin would have made it a nice payout. In short it’s a wager type consisting of all possible parlay combinations of a chosen number within a group of selected teams. They are a convenient way to place multiple parlays within a chosen set of teams by allowing you to select between 3-8 teams and then combine them in parlays of 2-7 teams.
For example: You check the NCAA schedule to prepare for your Sunday worship and see that there are 8 morning games and you really like 5 of those games. You like them so much, in fact, that you want to bet on all of them. You know, however, that you tend to always have one or two games wrong in a 5-team parlay. Besides losing the parlay, the most annoying thing about this trend is that you never know which of your 'locks' are going to be the ones to fail you. This is where a Round Robin comes in very helpful.
Now that you have picked the 5 games you like, you can decide what kind of parlays you would like to place involving these teams. You can choose 2, 3 or 4-Team parlays. Whichever number you chose for your parlays to be, a Round Robin will make every possible combination of that number within the set of 5 games you have picked.
Once you have clicked the Round Robin button and chosen the 5 teams, you will be asked to pick the number of events you would like in each parlay.
NEVER wager when you are not in a proper state of mind. Don’t gamble when you’ve had too many, have had a bad day and can’t keep your anger in check. This is about making a profit, not throwing good money out the window because you couldn’t exercise a small measure of control. For parlays, it’s crucial. One bad play can wipe out a lot of good work.
NEVER play a 3-4-5 team parlay and switch one team your not sure of. It will reduce the return on investment and your better of laying of the game if your not 100% certain anyway. If you're going to play, you have to have a high degree of confidence. If one game is troubling you, cancel it. Don’t play a parlay for odds. Play it because you’re confident in the play. Period.
This season, be smart when playing parlays. Play with House $ or a small portion of a solid straight play. Buy one of our membership packages and get invaluable information you won’t find anywhere else and a level of return on your sports investment that will astonish you this NBA & NCAA season. Make it your best one ever!!