At some point in time, every single sports gambler is intrigued by the opportunity to make a lot of money with a parlay. This is when two or more bets come together on one ticket, and if they all win, the payout is pretty big.
Everyone likes winning big money, but what is the long-term outlook of parlays? The odds are not in favor of an individual, which is why they should stay at a minimum. There is a time and place for a parlay risk, but going with head-to-head matchups instead will help to build up a bankroll.
The parlay intrigue
Parlays are popular in all sports, but they seem to be most popular in the United States with football season. That is because the majority of games for the week take place on one particular day, so a person can set up a parlay and have it end in a few hours. There is really no limit on the amount of teams to make up a parlay bet, as the prize money will go up and up as additional options are added.
To view parlay bets in another way, it is a lot like picking a winner out of a field of contestants. The odds of picking the winner of a golf tournament or a horse race is much tougher than picking a winner between two teams. That usually results in better odds, unless there is one heavy favorite having an impact.
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At Sports Information Traders, we do not suggest a heavy reliance on parlays. We understand the intrigue and we have all been there, but the money is made by looking at head to head matchups instead. Along with ignoring parlay betting, using a flat betting style is good for money management as well. This helps to avoid any pitfalls during a season as much as possible.
When is it a good time to place a parlay bet?
There are certain situations in any sport where a person might feel like they have an absolute lock. The odds might not be that great straight up, but it can help with a parlay that is on the smaller side. There is always a chance that that lock ends up losing, but if a person knows what they are doing, they are going to win quite often. Now, all is needed is a win in the other matchup to make it all come together.
Pay attention to betting insights provided by us at Sports Information Traders to make smart betting parlays as well. This means going with the betting public more often than not, as a person needs at least a safe bet or two so that they minimize the risk of a parlay bet.
Is it worth betting single games on heavy favorites?
From a strictly money-making standpoint, we recommend sticking to plans that consistently work. That might not be the flashiest betting style going after large parlays, but hammering down and heavy favorites can sometimes work well. Maybe a person wins just a small percentage of money each time, but it starts to build up as time goes on.
Falling for too many parlays is a move made by novice sports gamblers. The same goes for continually putting money on long-shot odds in future bets. The truth of the matter is, if a longshot does convert, there is not as much of a pay out as one should receive since oddsmakers can’t give out huge odds. If they do, they leave themselves a bit unprotected. Do not be afraid of the occasional parlay bet for fun, but do not adopt it as a strategy for long term financial success.