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Parlay Betting: What is it?

Parlay Betting: What is it?

There are a huge range of ways you can bet on sport in this current day and age, however, one of the most popular remains to be ‘Parlay Betting‘. Here, we’ll take you through the definition of a parlay bet, the pros and cons to parlay betting and when you might consider putting on a parlay bet. Let’s get stuck into it.

What is a Parlay?

A parlay, which can also be referred to as a multi, accumulator or a combo bet, is when two or more single bets are combined to form a single wager. The minimum requirements are 2+ legs and the amount of legs you can add is dependent on the rules of an individual bookmaker. Parlay’s are a popular form of betting for recreational punters because they are low risk and potentially high reward.

Pros of Parlay Bets

As mentioned above, parlays include multiple selections, so the payout is generally a lot higher than a single bet, which draws a lot of recreational punters in. The odds of your parlay multiply by each selection you add in, which means you could be up for some serious money if luck is on your side. Also, considering parlay’s are also a lot harder to win than single bets, the thrill of one winning is also enticing.

Cons of Parlay Bets

The cons of parlay bets are quite obvious. Due to there being multiple selections within your parlay, the odds of it actually winning are quite low. The more selections generally means the less likely it is to come off. Considering most professional punters make a living out of hitting on 55-60% of their spread bets over the long term, you can understand why nailing a parlay is extremely difficult.

What happens if one of your bets ends in a Tie?

For the most part, bookmakers will set their spread lines at half numbers (e.g. Lakers -5.5) to avoid a tie or what’s also known as a ‘Push’. If, however, one of your legs does finish as a tie, then that leg will be a push and will not count in your parlay. For instance, if your 4-leg parlay includes the Lakers -6 against the Bucks and the Lakers win by exactly 6 points, your 4-leg parlay will now be a 3-leg parlay and the odds will replicate that.

 


 

That wraps up today’s article on Parlays, but if you have any questions, then make sure to hit us op on Twitter or Facebook where we’ll be more than happy to have a chat!

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