How to Make the Most of Parley Betting – An Overview

If you’re new to the world of horse racing, you might wonder what on earth parley betting is. To put it simply, parley betting is taking a punt on the outcome of a horse race. It’s a bit of a crapshoot as to whether you’ll win or lose, but it’s a fun way to gamble. For those that love a good flutter, parley betting is the perfect way to indulge in a bit of gambling with a side of sport. Let’s take a closer look shall we?

All The Basics

To get started, you’ll first need to do some research into the racing form of the horses you’re interested in backing, or in this case, parlying. You’ll need to get lucky (or perhaps not so lucky) enough to lay a bet on a horse that wins, in order to pay off your wager. Just remember, in order to parley bet, you’ll need to lay a minimum of £2 on each ticket, and you’ll need to obey all the betting rules which state that you can’t bet on your own team’s horse, nor can you predict the result of a race involving your own horse. These are quite reasonable restrictions which you can abide by. The winning payout for a parley bet is normally around £10. To put it into perspective, this is similar to winning at a slot machine or poker table. While it’s not impossible to win £10 on a parley bet, this is definitely not something you’ll ever do on a regular basis.

How Do You Place A Bet?

To place a bet, you’ll need to visit any of the licensed bookmakers operating in the UK. Most of them will allow you to make a wager directly from their website. All you need to do is follow the instructions given, and you’ll soon be betting on the races which interest you. Placing a wager on a horse is pretty easy; just click on the race you want to place a wager on, and follow the onscreen instructions. Some bookmakers will even provide you with an extra layer of security, where you have to enter a code or verify your identity with a click of a button.

How Do You Collect On Your Bet?

On the opposite end of the betting process, you’ll need to visit your bookmaker’s website to collect on your wager. The process will be similar to placing a bet with the exception that you’ll need to click on a link to withdraw the money from your account. Many bookmakers will also provide an additional service where they’ll ring up your mobile phone and ask you to confirm the amount you’re withdrawing. This is to prevent cashiers from being scammed by people trying to withdraw fake amounts. It’s also worth noting here that many bookmakers’ withdrawal processes can be automated, which will make the whole process faster and easier for you. As a general rule of thumb, it’s always a good idea to make withdrawals from a different bank account to the one you’re using for the deposit. Never use the same payment method for both transactions, as this could leave you open to fraudsters. Always keep a record of your bets and transactions, as this will be useful later on if you’re ever asked to provide proof of your bets by a bookmaker, or racing official. We’d also recommend that you read up on how bookies operate in case you’re ever curious as to how they make their money. Some of it is definitely down to skill and luck, but much of it is also down to shrewd betting techniques, which sometimes even googling the formulae can help you with. Remember, if you’re just starting out, it’s usually a good idea to take it slow and easy, back only a few horses each week, and only for small bets. This will help ensure you keep within the rules, and give you the best chance of hitting a winning streak.