One of the most lucrative sports bets you can make is a parlay, but unless you employ some kind of betting strategy it can also be one of the toughest bets to actually cash-in on. In simple terms, a parlay is when you combine two or more picks into one single wager. The plus side is that the top online sportsbooks as featured on SportsBettingStats.com offer some very attractive odds for groupings of two to even 16 teams. Our favorites are Bet365 for non Americans and 5Dimes for US players. The down side is that the more teams you add to a parlay play the higher the odds are stacked against you to win.
There is a general misconception in sports betting that all parlays are sucker bets. This is simply because most sports bettors are not familiar with how they work, or how to bet them properly. In this article, Ill address parlay betting strategies, but first lets look at parlay odds and how they are calculated.
Most common sense parlays by Wolf of sports picks and parlays
Correlated Parlays If a bookmaker was offering betting lines on both will it be cloudy today? and will it rain today?, if allowed, youd be much better off betting either both as no, or both as yes, in a parlay bet as opposed to straight wagers. While this is a simplified example, there are plenty of times when outcomes are correlated in sports betting. For example, a handicapper might determine that if one team covers the spread, the game is more likely to go over or under the posted total. Also, during the final week of the NFL season, a certain team winning or losing the day game might result in a previously important night game now having no meaning in the playoff race.
Free Play Bonuses Several online betting sites, for example Bookmaker.eu, offer players free bets based on the size of their initial deposit. Free play bonuses are not the same as cash. The difference is that a bet made with cash returns both stake and win, where a bet made with a free play returns only win. Parlays allow you the chance to use the same free play more than once, because a parlay really is only a wager that continues to place stake+win on the next selection. Remember, fixed odd three team parlays pay a little better than true odds. So when using free plays to bet 3 team parlays, youre getting slightly better odds, and also a chance to apply that free play stake to three different bets. This is common knowledge that 3 team parlays are a great use of free play bonuses.
Online the odds are similar, though some sites such as 5Dimes and BetOnline offer better odds starting with three teams and up. Whats important to note is that these are fixed odds based on a 50/50 wagering proposition. If a spread is listed at Home Team -7 / Road Team +7 this is 50/50 proposition. If, instead, the spread was Home Team -7 -105 / Road Team +7 -115, this is no longer a 50/50 proposition, and the payout will be calculated using a method bookmakers refer to as true odds. Lets take a moment to understand where fixed parlay odds are derived from.
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This enables us to drill down to and provide the best nba predictions, picks and parlays. It works for mlb, nfl, college basketball and college football and soccer. We analyse 50+ games a week and narrow it down to a 2 team parlay.
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