Parlay betting has been around for quite some time, but in recent years it has become extremely popular among sports bettors. If you are new to betting odds and statistics, parlay may seem like a bit of a mystery. Maybe you’ve even heard of it, but you’re not quite sure what it means. Let’s clear the air and shed some light on this betting term so that when you hear it in the future, you’ll know exactly what it means.
What Is The Appeal Of Multiple Betting?
Although multiple betting has been around for quite some time, it has only recently become popular in online sportsbooks because of the advent of smartphones and tablets. These devices have made it possible for people to place bets from the comfort of their homes, and online sportsbooks have taken full advantage of this fact by offering wagering on multiple games in one place. Some people enjoy the convenience of placing a bet on a game that they are interested in regardless of what happens with the first one, while others prefer to only bet on the games that they will definitely win or lose. Either way, online sportsbooks make it easy to place bets on multiple games, and this has proven to be quite popular with certain groups of people.
The Definition Of Parlay
While many people may know what a parlay is, not all of them necessarily know what it means in the world of sports betting. A parlay is simply placing multiple bets on a single sporting event / competition. For example, one may bet $10 on the LSU – Alabama game and the Michigan – Ohio State game. In this example, one would be placing 2 separate bets, one on each game, but they would all be considered to be a part of a larger wager or parlay.
Since these are all separate bets, there is no requirement that they must each win or lose together. So, for example, if one bets $10 on the LSU – Alabama game and that game ends in a win for LSU, then one would win the $10 bet on the Alabama game, but one would not necessarily win the overall parlay bet since they did not necessarily have the winning combination of teams. In the same way, if one were to bet $10 on the Michigan – Ohio State game and that game ends in a win for Ohio State, then one would win the $10 bet on the Michigan game, but one would not necessarily win the overall parlay bet since they did not necessarily have the winning combination of teams.
Keep in mind, though, that if all of the bets are winners, then one would win the overall parlay bet. Therefore, it is in one’s best interest to pick the winners of all of their individual bets, especially since there is no limit on how many bets one can make in one session. If one were to place 5 bets in one session, they would not be able to see which ones won, and they would not be able to determine the winning odds for any of the teams or games since they would all be winning bets. It is best to spread the bets out so that one can follow the results of the games in their entirety rather than having to monitor the progress of multiple games at once.
More Than Meets The Eye
As we just mentioned, it is not necessarily the case that one will win the overall parlay bet if they do not have the winning combination of teams in all of their individual bets. It is very possible to win an overall parlay bet even if some of the games end in a draw. This is because there is no requirement that all of the games be different outcomes. In fact, if one were to bet on the Super Bowl and the game ends in a tie, then one would win the parlay according to the rules of probability. In the same way, if one were to bet on the World Series and the Series ends in a draw, one would win the parlay bet as well since there is no requirement that all of the games end in a win or loss. If this were the case, then a parlay would actually be worse than placing individual bets since there is more chance of a loss when one bets in parlays than there is when one bets on individual games. Fortunately, this is not the case, and as long as one picks the winners of the games carefully and spreads out the wagers so as not to place too many on a single outcome, then one will usually end up winning some money even if the games do not end in an exciting conclusion. In most cases, one will end up winning some money even if the games do not end in an exciting conclusion because most online sportsbooks give one the option to hedge their bets if a game results in a tie. This way, one will not necessarily lose the money that they spent on wagering, and it is always better to win some money than to lose all of the money that one had put on the line.
Statistically Speaking
Parlays can become extremely lucrative when one knows exactly which teams are going to win and which ones are not. Since these are all separate bets, it is possible to determine the winning teams and the odds of each outcome rather easily using statistical analysis. In order to figure out the probable winners of a game, simple mathematics can be applied. Basically, one will look at the recorded results for past games and use this information to come up with an informed opinion about the outcome of the current game. If this is done correctly, then it is usually possible to predict the winners of most games with great confidence. There are always exceptions to the rule, but using statistics to make informed guesses about sporting events is a common practice among serious bettors, and it usually works. The key, as we mentioned before, is in spreading out the wagers so that one does not place all of their money on the same game or outcome. This is because if this were the case, then it would be very easy for an unscrupulous bookmaker to take advantage of one by loading up on odds that they know one will win so that they can make a quick buck off of one’s wagering. This is why it is usually best to spread the bets out and use statistics to determine the winners rather than putting all of one’s money on the line on just a few games or contests. Statistics can also be used to determine the most profitable number of bets to make on a given outcome. Basically, one will want to choose the number so that the winnings from this wager will cover the loss from the previous one, and then they will start another wager. In many cases, this method of betting yields a higher return than placing individual bets because the chance of multiple games ending in a draw is greatly reduced, and it is also possible to utilize this method when other wagering options are not available. In this case, one may want to choose 4 or 5 games to focus on rather than spread out the wagers among the entire slate of football games, which could end up being 50% of their bankroll if things do not work out well.
Getting Started
The best way to get started with multiple betting is to open up an account with a reputable online sportsbook. Once this is done, one can start by placing simple bets of just a few dollars. It is best to start out with smaller bets as a means of testing the waters to see how the system works and if one enjoys placing wagers or finds that this type of betting appeals to them. As one gets more comfortable with the process, one can move up to placing larger wagers and comparing the results with those of other bettors who are also using the site rather than comparing one’s own results to statistics. In most cases, this will not be necessary as the sportsbook will have tools available that let them compare one’s results to others who are using the site, but it is always a good idea to compare one’s results to those of others rather than to averages or percentages since this will give one a better sense of how their actual results measure up against what is common for people who are using the website.