ML means Multi-Leg in parlay betting. When you are placing bets on multiple sports, you have the option of laying odds on each individual match. This allows you to maximise your winnings while minimising your risks.
In a traditional one-leg bet, you either win or lose whatever you bet on. However, with parlay betting, you can win or lose multiple bets while enjoying more opportunities to maximise your returns.
Why Choose Multi-Leg Over Single-Leg Bets?
When you are placing a one-leg bet, you are effectively putting down a single bet. If you lose that bet, you have no opportunity to regain your losses. However, with multi-leg bets, you can win or lose all of the bets you laid, or a portion of them. In some cases, you can even place a protective bet on a sporting event to minimise your losses in case the game ends in a draw.
For example, you might bet on the first leg of the Manchester United – Liverpool game, with a win to even the odds and place a protective bet on the second leg to make sure you win your bet. If United beat Liverpool 3-2 on the second leg, then you will win your bet, although you might lose a little on the first leg.
Red Versus Blue
In addition to multi-legs, parlay betting offers the opportunity to compare the odds of successful betting outcomes between the two teams involved in a match. For example, if you were betting on the 2019 Superbowl between the New England Patriots and the Kansas City Chiefs, you would have had a choice between placing a bet on each team or putting down a multi-leg bet. In that scenario, you could have laid odds on the Patriots winning the Superbowl, with New England having a 3.7-to-1 shot at winning compared to the 2-to-1 odds offered on the Chiefs.
Since the Patriots have been favoured in all of their games this year, if you wanted to maximise your returns without risking high amounts of money, you would have been better off betting on the New England Patriots in the Superbowl.
More Ways To Win
Apart from the multiple-leg option, parlay betting allows you to lay odds on other sports events that take place around the same time as the event you are betting on. For example, let’s say you are backing Chelsea to beat Liverpool in the Champions League final. In addition to deciding whether or not to place a bet on the English Premier League giants, you can look at the UEFA Champions League odds to decide whether you would like to place a win or loss bet on the Italian Serie A match between Juventus and Inter Milan, which takes place a couple of days later.
In that scenario, you would win a portion of your bet if Juve beat inter Milan 3-0, as well as the British Champions League odds. However, if the match ends in a draw, then you would lose both your bets since there is no third-leg match to compare odds on.
Parlay betting opens up a world of opportunity for anyone looking to place winning bets. As long as you stay within the confines of the law, you can easily make money from home. Just make sure you are aware of the risks you are taking and how much you are betting on each leg of your parlay bet.