Parlay bets are one of the methods that can augment the chance of a sports bettor to win a huge amount of return, especially if they wager on jackpots in online casinos.
One of the most important wins ever recorded using a parlay bet is a £2 wager by Steve Whitely on six selections that made him win a total of £1,450,671.71. Another significant win, this time in a regular accumulator is a 50 pence wager by Fred Craggs that made him win £1 million on an accumulator with 2,000,000 over 1 odds.
Parlay bets simply put, provided the punters to place bets on multiple matches and bundle their odds, so punters don’t have to bet on individual matches one by one. Parlay betting is simply grouping several single bets into a bundle of one huge bet. By grouping several short odds bets into one allows the punter to win a huge amount, however, it has one catch, one lost bet means the entire parlay loses too.
How much is the payout in parlay bets?
The odds in sports are typically changing, what that means is that the 50/50 odds will be the same with other bets. However, the odds in online games are easy to calculate. If you are using Decimal odds or European odds, all you need to do is to multiply the odds then multiply the product with the number of the stake.
In a three-legged parlay, 1.01, 1.6, 1.5 odds and a $100 stake can produce a $242.4 payout. The typical payout of multiple single wagers is essentially lower that in a single parlay wager.
What if a tie happens?
If a tie occurs in one or more selections in a parlay bet, the sportsbook will disregard that wager and will reduce the amount of the bets placed and will also reduce the amount of payout.
When is the right time to bet on parlays?
If you are considering betting using a parlay but fear that your payout will be reduced if one bet loses, then refrain from betting on parlays. However, remember that many players have already won big using this method. Also, remember that the bookmakers typically don’t offer a fair method for the players because they tweak the odds to make it advantageous for them.
Free Play Bonuses
Online sports betting platforms usually offer bonuses and promotions to the players so that they can start betting on their favourite sport. You can actually experiment using parlay bets via free play bonuses and you can wager without risking anything and worrying about losing your money.
Correlated Parlays
Correlated parlays are parlays that are dependent on a particular combination of results that can produce an either win or lose. Many sportsbooks consider correlated parlay bets illegal and typically won’t permit them. However, some do but there might be a chance that the sportsbook is a scam so a player should steer clear first of a betting site before placing a bet.
Decreased Commission
Some major sporting events like the NFL or National Football League’s Super Bowl have reduced commission on sportsbooks. The 50/50 bet recommendations in the NFL are very typical, and some sportsbooks even offer 6.5 to 1 odds on three-legged parlays, one can take advantage of these proposals.
The Pros and Cons of Parlay Betting
Like any method of betting in online casino Singapore, parlay betting has its advantages and disadvantages..
Parlay bets are generally much more exciting to play and it can give higher payouts than on single bets. This method is also good in utilizing free play bonuses that sportsbooks offer. It also has a high risk, high reward play.
On the other hand, parlays can have a higher chance of dry spells. It also has fixed odds that are usually in favor of the bookies. Lastly, parlays have a high reward, high risk play.
