How to Bet Parlays
What is actually a Parlay betting? Well, it is one of the most favorable options in sports wagering. Parlay betting option allows the bettors to bet two or more over/under, point spreads, and moneylines which will win. This gives the betters more opportunities to earn higher payout if their picks win. The income will be higher than they would have if they bet on each one individually.
Parlay betting has been favorite because bettors can get bigger returns. In common cases, the bettors can play the most parlays of +260 for 2 team parlays and +600 for 3 team parlays. For instance, if you straight bet $55 to win $50 on Miami -2.0 -110, and $55 to win $50 on Seattle +4.0, and both won, you will profit $100. But if you put $100 on a 2-team parlay of Miami -2.0 and Seattle +4.0 and both won, you’d profit $260 at the standard +260 price.
Besides bettors, parlay is the sportsbooks’ best friend because it pushes the bettors to be a perfect bettor. When looking at the example above, the bettors will lose $5 if they go for 1-1 instead of 2-0 with two straight bets. But if they participate in parlays, they will lose the whole $100. Regardless of the nuisance, they can risk their money for greater good. The 3 team parlay pushes the bettors to go for 3-0, so that a normally profitable 2-1 is a losing.
Parlay betting is not a small deal. When you lose, you lose big. So it is not worth the risk for long-term. However, you could really use this when you notice semi-correlation.
Sportsbooks won’t allow the true correlated parlays. A correlated parlay is when the bettors want to parlay two events which directly correlate. If you wanted to parlay a first half over bet to the game going over the total, the sportsbooks won’t allow you.
So for example, the game involves Indianapolis (-7.0) and Houston (+7.0). You are the big fans of the Houston. However, you realize that your favorite team can't keep up with Indianapolis players. In your ETA, it will be a low-scoring game. In such scenario, it is suggested to parlay Houston +7.0 and the UNDER. You expect Houston to cover with a strong game defensively. That concludes the events are semi-correlated. A scenario like this is what is going to work for you. So try to find the semi-correlations when using parlays option.