When it comes to sports betting, many bettors are familiar with the idea of a parlay. A parlay is when you combine two or more bets into one wager and, as the name suggests, you are effectively doubling your betting chances of winning.
There is more than one way to make a parlay bet, and many professional sportsbooks offer a variety of methods for combining betting lines. You can make parlays on individual sports like football or basketball, or you can use a “parlay card” at an online betting site to generate combinations of football, baseball, and hockey betting lines.
If you are new to making wagers on sports, you might wonder what all the + and – after a game or matchup means. You are probably also familiar with the idea of an over or under-score for a particular game. An over/under is how a team or player scores relative to the number of points you have at stake. For example, if you bet $100 that the Raiders would score at least 20 points in the game, you would win $100 if the Raiders scored at least 20 points.
The difference with a parlay is that you are effectively making two or more bets. The first is the point prediction or over/under bet. The second is the amount of combined money you are willing to risk on each winnings segment.
What Is The Most Popular Way To Combine Bets?
Parlays are relatively easy to understand and make, but there is more than one way to combine bets. At Bovada, for example, you can make a “cartwheel” parlay bet that incorporates two or more individual bets into one wager. In a cartwheel parlay, you are effectively betting on the outcomes of two or more separate games or matchups and backing two or more teams. To participate, simply pick two teams that you think will win their respective games and set the amount of the combined wager. Then, if the first game ends in a draw, the second game will determine whether you win or lose your bet. It is not necessary for both teams to win for you to win the parlay; only one team’s winnings will be added to your total. If both teams lose, you lose your wager.
How Does It Work?
The odds of winning on any given bet decrease the more you bet. If you were to bet $10 on a single game, the odds of winning are 1 in 10. If you were to bet $100 on a single game, the odds of winning are 1 in 100. When you bet on two or more games at once, the odds of winning decrease even more. In order to compensate for this, most sportsbooks will list the payout percentage for parlay bets. The idea is to attract sportsbetting enthusiasts who enjoy the thrill of hitting a winner but also want to avoid the steep costs associated with taking a large wager. It is important to note here that the payout percentage will vary from sportsbook to sportsbook and is usually indicated next to the sportsbook’s odds.
When Is It A Good Idea To Combine Bets?
There are times when combining bets is a good idea and times when it is not. Typically, if you are combining small wagers on individual games, it is a good idea. With large wagers on major sporting events, the idea can get a little…questionable. On one hand, the larger your wager, the larger the reward if you are correct. On the other hand, the larger your wager, the greater your financial risk. So, in a way, you are combining high risk with high gain. In general, it is a good idea to combine smaller wagers on individual games and larger wagers on major sporting events.
Where Can I Find More Information About Combining Bets?
The mainstay of any sportsbetting website will be its sportsbook and, as mentioned above, the site’s odds and payout percentage for parlay bets. Additionally, they may offer a database of games and the results from past matchups. However, when it comes to maximizing your betting potential, you should not be limited to what a website offers in terms of information. The key is to find a good mix of odds and payout percentages that work well for your betting strategy.