Parlay betting is one of the more interesting betting variations available in casinos. Simply put, parlay betting involves placing multiple bets on several games/events, with the goal of making more money than you would have if you had just placed the same wager on each one individually. The betting odds are usually structured so that, on average, you will profit from parlay betting. There are a few different ways to make parlay betting work for you.
Parlay Bets Within a Budget
One of the primary ways parlay betting works is by having varying limits on how much you can lose or win per parlay bet. For instance, maybe you’re playing at a 10-game parlor and you have a budget of $100. You can bet $10 on each game, which gives you 10 separate parlay bets. If you win any of those 10 bets, great! You’ll feel very lucky, but you’ll also have to make a budget cut of about 10%. If you lose any of them, you’ll have to cut your losses and take a 15% hit. This kind of betting structure gives you the opportunity to make smaller parlay bets, spread out over several hours or days, rather than having to commit to a $100 bet in the middle of a single game. It also means you have to be more judicious about the games you choose. You can’t blow your entire $100 on a single game, because there are other games you could be playing that have higher odds.
Progressive Jackpots
One of the more exciting aspects of going to the casino is getting to play for large sums of money. Even if you’re not a big fan of gambling, you have to admit that playing for big money is pretty cool. With that being said, you might be tempted to try your luck at the slot machines or table games in the hopes of hitting the jackpot and becoming a rich man (or woman). If that’s you, you might be disappointed to learn that the jackpot for slots is rarely that generous. A better option, especially if you’re looking for excitement, is to bet on the progressive jackpot pools for various games. These are usually a combination of several different games’ progressive pools. When someone wins the progressive jackpot, they get to choose from several different prizes based on how much they wagered on the different games. In some cases, the jackpots can reach into the millions!
Multiple Bets Per Person
Parlay betting can be a lot of fun when you’re with friends and family at home. You can coordinate with them to make multiple bets per person, with winners determined by the highest roll or the advent of the exciting Triple-Play feature. In a Triple-Play game, you’re allowed to make three separate bets per person, each of which has its own individual odds. When someone wins, they get to choose from several different prizes based on how much they wagered on each individual game. The idea is to make it more exciting for the player and add a wrinkle of strategy to the process.
Winning Streaks
One of the unique things about parlay betting is that it gives the opportunity to win streaks. The longer you play consecutively, without a break, the better. It’s like getting a free pass to the casino, where you can place bets and win money. This winning streak can continue indefinitely, as long as you keep playing and don’t stop betting. Keep in mind: this is no easy task. You have to practice constant vigilance in order to ensure you continue to win. Also, you have to be extremely disciplined in your spending habits. If you want to keep playing and winning, you have to avoid getting too distracted by shiny objects and spend your money only on playing tickets.
What Are the House Edge Breakdowns?
Many casinos have published their house edge breakdowns for specific games and betting situations. These are numbers which will help you determine how much the house is favored to win or lose, per game. Knowing this information will allow you to decide if playing the game is worth it, at the current odds, or if you should try another game. You can also use this to determine how much you should bet, per game. For example, if you have a 9% house edge for blackjack, you’ll need to bet 1.09 times your bet size in order to have fair odds of winning.
How Do I Place a Bet?
Parlay betting, like most other forms of casino gambling, is done through an online casino or a land-based casino. It’s important to note here that, in most cases, you’ll need to make a deposit, either through a credit card or through a wire transfer, in order to place a bet. After you make your deposit, you’ll find an email, typically, that contains your login credentials. Use these to log in and make your bets. In order to make things easier for you, most casinos will provide an FAQ section, which contains answers to the most common questions. Make sure to check this out before you ask any questions, though. This will help ensure you get a proper response from the casino. If you still have questions, contact the support desk and they will be able to help you.