Parlay Betting 101
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 |
100 |
pays 260 |
| 3 team parlay |
100 |
pay 600 |
| 4 team parlay |
100 |
pays 1000 |
HEDGING
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.
PARLAY STORIES
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.
PARLAY STRATEGIES
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:
| DALLAS |
- 13 |
300 RISK |
| NY JETS |
|
|
| NY GIANTS |
|
|
| DALLAS |
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.
ROUND ROBINS
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 NFL
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.
PARLAY RULES
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 you’re
not sure of. It will reduce the return on investment and you'rr
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 NFL season. Make it your best one ever!! |
