Home » Is Parlay Betting A Good Idea Or Not? – Know The Essentials!

Is Parlay Betting A Good Idea Or Not? – Know The Essentials!

When it comes to some of the most famous exotic wagers, then Parleys is the first name that stuck your mind. For those who are new to this name, Parley is a collection of two or more than two sides and in order to win the bet, you need to win all of them. For an instant, if you score 3-1 in a four-team parlay, then it is considered same as 0-4. The basic rule is you need to make all of your bets win or at least tie if you want to win. There is a basic question comes in everyone’s mind i.e. Is Parlay Betting A Good Idea?

Well, here we are discussing in detail some of the facts and figures related to how to bet Parleys and more. This will help you get a basic understanding of the topic. Starting from the basic types of parleys, firstly there are those that wagered against the point spread and the other is those that wagered using the money line. Both the types are different in terms of payoffs. The payoff is fixed in parlays involving point spreads. But on the other side, payoffs are determined by the odds of each team in case of money line parlay.

Now the question is – Are Parlays Good Bets?

Well, taking every single point in consideration; the final answer is no as it includes point spreads and totals. Moreover, the true odds are much more than the odds of the playoff. For an instant, in case of winning a three-team parlay, the true odds when making a point spread wagers are 7-1 and payoff is only 6-1. And the fact is it will get worse as you keep on betting for more and more teams.

Similarly, in case of 10-team point parlay, it goes till 1,023-1 and around 600-1 in case of payoffs. Coming to the Money line parlay, there is no advantage or disadvantage in playing as the payoffs are calculated on the odds of the game.

So the main tip for the bettors is to stay stick with the straight bets while betting against the point spread or totals. The main reason behind this is it becomes really difficult to pick a single winner. In the long run, the beat is nearly impossible to overcome.

Yes, it is true that Parley betting is not meant for recreational bettors who do betting for a purpose. One can only enjoy it and try his or her luck in it. Investing a couple of bucks at a parley is enough and you can hope to win some cash out of it.

If you are thinking of winning a jackpot out of it, then you are just going to a wrong path. You can prefer it as a source of entertainment and putting a few bucks in it is more than enough. You must go for smart money management strategies rather than choosing Parleys as a good option. You can try NFL betting and other options as these are more sustainable and profitable.

About the author

Shane Watson

Shane Watson

Shane is a cryptocurrency journalist and an ICO writing consultant at The Written Craft content service. He's an advocate of decentralized public control of finance, an off-grid enthusiast, and really fun at parties too.