Throwing together a 3-team parlay bet in sports can seem very enticing on any given day. The payout is considerably more than betting games individually, and three teams are not that hard to manage. Parlay bets always have the opportunity of getting crazier and crazier, but is a 3-team option worth it?
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What Does a $1,000 3-Team Parlay Pay?
Every parlay bet varies depending on what each team is getting. However, if the parlay bet involves three games with pick’em odds (-110), a successful $1000 3-team parlay bet will win a person $5957.93. The Las Vegas payout is 6/1, and the real odds of picking the three winners is 8/1.
The Risks of 3-Team Parlay Betting
Sports betting can be a fun and exciting way to add some extra excitement to your favorite games. However, it is important to remember that betting is a risky business, and it is important to approach it with care when looking at parlay bets in particular. If even one of the teams loses, you lose the entire bet. While it is possible to win big with a parlay bet, it is also very easy to lose a lot of money quickly.
A lot of professional gamblers are vehemently against parlay bets. If they dabble into them at all, a 3-team parlay is virtually the max. It usually involves at least one “sure-thing” team that increases the overall success rate. However, it also greatly reduces the payout.
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Should People Consider More Than Three Teams in a Parlay Bet?
Parlay betting in sports can go up to double-digit teams in some cases. Keep in mind that with each team added, the odds of actually hitting on a parlay bet become extremely challenging. Even involving all favorites, getting them all right is usually by complete luck.
There is still some value out there for 3-team parlays, but it gets worse and worse with each other team added. Sportsbooks need to cover themselves for those rare instances when people hit on huge parlay bets. The odds of hitting when compared to the actual payout are not good, putting way too much risk on the gambler.
Using 3-Team Parlays For Heavy Favorites
If there is a smart strategy with parlays, it’s using them to bet on very heavy favorites. For example, if a team is -500, a $1000 bet and only going to win someone $200. However, if three teams are combined and have -500 for the money line, a parlay payout would be $728. When betting individually for each game, it would only equate to $600 total.
Being a -500 favorite is huge. There are always upsets, but people feeling very confident about certain favorites can excel with parlay bets.
Staying Smart With 3-Team Parlay Bets
There’s always a time and a place for 3-team parlay bets. Those only looking for entertainment will find that they have a chance to win some pretty good money.
Smart gamblers will use them on occasion, but they’ll stay away from being too enticed to make them regularly. Parlay bets generally don’t make sense, but 3-team parlays won’t sink people if they do it responsibly.