Overview
Parley is a word used to describe a type of betting game. It comes from combining the words ‘parley’ and ‘betting’. In parley betting, two sides make wagers – one on what they think will happen in a certain event and the other on what they think will happen in another event. The first side to reach a specified goal wins.
The rules of parley betting are simple and the game is a lot of fun to play. However, even for those who are familiar with the game, it is essential to understand how parley betting works.
History
Parley betting probably first appeared in the 17th century, with some claiming it was invented during that time. It was originally played with the Church – taking a quick look at history books, you will see that lots of wars were fought over who would get to keep the Wager Belt. In fact, it was said that the British won the Battle of Hastings in part because they were playing parley betting the entire time. In 18th century England, a man named James Figg visited the coffee shops and gaming houses of London, searching for games that were both entertaining and educational. It was originally played with ‘pots’ – with each player placing a stake in the pot. Some versions of the game even allowed participants to wager pieces of gold, silver and jewellery.
The concept of betting on the outcome of a sporting event was around long before parley betting existed. The first recorded instance of a bet being placed on the outcome of a sporting event was in 1788, when two Englishmen placed a wager on the outcome of the first Olympic Games in London. That same year, records show that the town of New York outlawed sports betting, claiming it was illegal and “a distraction from the real business of living”. However, in a state of New York where “wagering on sporting events is legal”, a man named John McGinnis ran a bookmaking business, making a living off betting on sporting events, which were often attended by the rich and famous.
How Does It Work?
To understand parley betting, you need to first understand the concepts of advantage and equity. In many games, such as poker and blackjack, the goal is to have a better hand than your opponent based on the cards dealt to you and the sum of money bet. In parley betting, the goal is to have an advantage based on a bet that neither you nor your opponent necessarily wants to win. What is important is that you have an advantage over your opponent – that is what the game is all about. You do not necessarily need to have an advantage in order to win, but you do need to do something to give yourself the best chance of victory.
For example, if you are playing with a standard deck of cards, you can give yourself an advantage by using a few simple techniques. First, cut the cards before the game begins – it is customary to cut the deck after cutting, but doing so before the game begins gives you a distinct advantage. Next, it is customary to shuffle the cards before dealing them. However, a simple rub of the cards before the game begins will give you an advantage in knowing the order of the cards. Finally, it is advisable to keep a secret of the cards you are holding, as knowing all of them will give you an advantage – even if it is just one or two cards!
Once you begin the game, you will need to make the wagers – in many versions of parley betting, this is done by laying out your stake on the table before the game begins. You will then call out what you think the winning score will be and the corresponding amount you will win. Once the wagers are made, the game progresses in an alternating fashion – you will play your hand, and then your opponent will play their hand. This continues until one player reaches the goal or runs out of chips. At this point, the other player wins or loses based on the amount they were previously awarded. For example, if you won the game, you will be paid the amount you staked plus whatever amount is remaining in the pot. All losers are paid out of the pot, which will be redistributed according to the rules. This is how parley betting works.
One of the nicest things about the game is that because there is no absolute winner, everyone can walk away feeling that they had a good time. There is also lots of room for interpretation of what happened – you could argue either way about who won! It is a game that can be enjoyed by both young and old alike, and it does not require a lot of expensive equipment to play. All you need is a standard deck of cards and a place to play. You can also use online tools to play, which makes it simpler than ever to find an opponent and get the game going.
The Pros And Cons Of Playing Parley
While there are many benefits to playing parley, there are also a few things to watch out for. One of the main benefits is that because the game does not have an absolute winner, disputes are less likely to arise. However, this also means that there is more room for interpretation when it comes to determining the outcome of the game. In most games, once the outcome is known it is known and there is little dispute about it. In parley betting, disputes are likely to arise because there is always that element of doubt as to whether you or your opponent had the advantage in the game. This is not necessarily a bad thing, but it can make the process of playing the game a little more complicated. It is always best to play with a group of friends so that if any disputes do arise, there are more people available to help hash them out – if playing online, make sure you are playing a poker site that is reputable and has an established reputation, as disputes are twice as likely to arise when playing online than when playing physically. Another potential pitfall is that because there is always that doubt about the outcome of the game, it can be difficult to objectively assess your performance in the game. Sometimes it is difficult to remember exactly what happened during the game and so it can be tough to assess how well you played – this could lead to disappointment on behalf of the player, as it is common for them to underrate their performance in the game simply because they cannot remember everything that happened during play. Finally, make sure you are aware of the various laws that pertain to wagering and gaming in the location where you reside – not all countries are created equal and so you might want to check the laws in your area before placing that bet!
To summarize, playing parley is a lot of fun and can be a good way to waste an afternoon – just make sure you are aware of the fact that disputes are more likely to arise due to the nature of the game, so be sure you are prepared for these disputes and are able to resolve them amicably. It is also advisable to play with friends or family members who you trust, as disputes are more likely to arise when playing with strangers, as there is always that element of mistrust that comes with not knowing the “other” person playing – particularly when playing online! Lastly, make sure you are aware of the legalities of wagering in the area where you reside, as different countries have different laws pertaining to gaming and wagering. It is always best to know the rules and laws before you engage in any type of wagering, as not all jurisdictions are accepting of this type of gambling, so you run the risk of getting into trouble if you are not aware of the rules!
To learn more about Parley and the fascinating history behind it, you can visit the website http://parleygame.com/, which provides you with all the information you need to understand the game and how to play it, as well as providing you with links to other sites that have helpful information pertaining to the game.