The parlay wager is an often overlooked in the sports gambling world. More often than not, it’s seen as a prop bet with too much risk. Now, the risk versus reward debate rages on with every wager you can imagine, but the parlay was built on this ratio. If, “how can we win the most while risking the least?” is the question, the parlay is the answer because when placed correctly, this is no silly prop bet. The parlay can give you a nice payout without risking much at all. Key words: when placed correctly.
Cashing any ticket in when sports gambling takes more than research. Whether you are taking the points or playing the money line, it doesn’t matter if you know every team, every player, and every sport, it takes a strategy to win as much and often as you can. Parlays, of course, work the same way.
It’s a very dynamic wager that can be played in a variety of ways and knowing the strategies to employ a proper parlay will give you a big return on your money. Here are some simple rules to follow before placing your next parlay. They do what every gambler wants them to do and that is getting more bang for your buck, all the while, eliminating risk.
Simplicity
Too often gamblers look to the parlay for huge payday. They take big-time underdogs, add a few favorites, and pick lines they know nothing about. Anything to drive their parlay’s odds way up and hope it comes in. This is a terrible strategy which amounts to nothing more than a lottery ticket.
KISS – the best advice you’ll ever receive. Keep It Simple, Stupid. If you have two teams you like on the money line and want to improve the payout, parlay them. If you’re going to wager the away teams this Saturday, parlay them. You only need a few teams for an effective parlay. Picking nine winners to come in pays well because, on any given day, it just isn’t going to happen. Be realistic. Keep it simple and you’ll keep winning parlays.
Look to the Favorites
The oddsmakers aren’t going to let you make easy money by picking favorites all the time. This is why we have the juice and insane -800 money lines. A parlay is a great equalizer for this scenario. Taking four heavy favorites in a parlay will give you the odds you need to get the payout you want and all without incurring too much of the risk. Another way to utilize the parley is to add a favorites to a wager you’ve already considered.
For example, the Bengals are playing the Patriots and you love Cincinnati so much you’re loading up on it on the money line and can’t wait to cash it in. Why stop there? The Browns are playing the Jaguars, the Cardinals are playing the Chiefs. Look to the favorites to add a team or two for a parlay. You aren’t risking too much more but you are increasing your payout. The favorites are here to help and the parlay is the place for them to do just that.
Size Matters
Another mistake sports gamblers make with a parlay is the size of it all. The whole point of a parlay is to make a lot from a little and not a lot from a lot. A parlay is not the lottery. Players want that one big payoff so they either add to many teams or they put up too much money. For a wager where if one team loses, the whole bet loses, placing a large wager makes little to no sense. Use the parlay as it’s supposed to be used, a few teams coupled with a reasonable wager. It’s going to pay you well. Never force the issue.
Spare Some Change
When we say to keep wagers small, we mean it. If you’re playing in any online sportsbook, it doesn’t take long for the spare change to build up in your account. Considering that some sites allow bets as low as $1. A fun parlay to make is for a dollar and whatever change you have left in your account. Make some money on your change buy using it on a parlay you may not have played.
A Perfect Hedge
When opportunity knocks, be sure you answer and parlays give you a great opportunity for a hedge bet. Let’s say you’re playing a $5 parlay on four teams to win. Putting a few dollars on the games individually will give you a nice hedge for that parlay. If only three of the four come in, you lose your parlay. However, you’ll still have two individual bets to cash or, from a more positive perspective, when that parlay wins, so do the hedge bets.
