Parlay Betting Strategy Odds Review in the US: Types & Odds
There is no doubt that parlay bets are the most common sports wagering form, and you will come across them in the top sites. It can be spread, total, or money line and includes more than a single selection. It is a way to boost the potential return and can be a great source to earn high-reward. It is a sports fans wager available in almost all sports. This parlay betting US guide has included details on the bet, how it works, examples, handicap winning bet, and a few FAQs.
What Are Parlay Sports Betting?
It is a combination of multiple wagers for popularity because this form of wagering gives you high payouts. But if you win, the losses are also high, so you must be sure before sports betting.
How Does Parlay Work?
The parlay sites allow you to place bets on more than one game. The rules of retail sportsbooks will vary from one another. But the operator caps the number of games that players can place on a single wager. Before you go ahead, you must check the upper limit on the online sports betting sites. It would be best if you were right on all the legs. Suppose you have taken a four-game point spread parlay, where you won three and lost one. It means you won’t get the winnings as you have to get them all correct.
Parlay Bet Examples
Before you start to place the best parlay bets this week, you must understand the examples. It will help you know how you can win while playing sports betting apps.
Suppose on the NHL games, and two contents are quite attractive. By handicapping two, you come across two clear choices.
- Toronto Maple Leafs: +115
- Boston Bruins: -135
As you are confident about both, you plan to add them to a single ticket. So, after buying the ticket, you will find the parlay odds on your ticket. But this is what you can expect if it works out and you are correct.
- Odds of +115 and -136 give sports odds of +274
On a bet of $100 at odds of +274, your potential return is $374.25. Here the profit of $274.25 with the original amount is added. It is a good parlay payout that you get when you win an excellent return. But if you win against anyone and lose to the other one, you won’t get anything.
Line Moves And Parlay Betting Odds
For every set of the game, the legal sports betting sites release oddsmakers, and it is opening lines. It is out on the same day of the morning, but you can get it the night before that in some places. After spreads and sportsbook odds open, the wagering market gets a chance to weigh in. If the oddsmaker finds that several actions are occurring on one side, they adjust the lines. Every shift will have an impact on the American odds. So, gamblers wishing to place a wager must keep an eye on odds after being released.
How To Handicap Parlay Bets?
For handicapping bets on events, normal rules are applicable, and every leg should be treated as its event, following which the bread down occurs. The five steps you must remember to bread down games are:
- Study the odds along with the line moves
- Considering the strength of both teams
- Factor in away and home performance of both
- Examining stats moving the needle
- Reviewing the plays for both teams
While handicapping, you must focus on matches you are confident about. It is tough, so it makes sense if you include those rated highly as legs.
Odds Of Winning
By adding the legs, you can figure out the potential outcome of the winning parlay system. But did you find out the actual odds of hitting the bet? It depends on the number of games you have added to your ticket. The real money site operators are fast adjusting odds, so you need to be ready and place a bet quickly. Here is a brief benchmark of odds:
For a three-team parlay, it is six and two-team parlay, and it is 13-1. For ten-team parlay, it is 600-1, and for eight-team parlay, it is 150-1. By this, you can understand that the odds rise with every selection being added. The likelihood of winning a two-team parlay is not tough, but you need to be lucky for a ten-team parlay.
Besides that, the sports betting websites run parlay insurance, and you should keep an eye on that. Generally, they provide insurance on five-team or four-team parlay. If you lose one leg, you will get some amount as a refund.
How Much Does It Cost To Place A Parlay Bet?
The price of this form of betting on sports online depends on how many you choose in a single one. Suppose the cost of a two-team parlay is inexpensive than a five-team parlay. Similarly, the more you include, the price will go up, and winning becomes difficult. To win it all, you have to get lucky, but you also get a high amount as a reward.
Types Of Parlay Bets
- Over Or Under: It is a wager made on the sum of the total points earned by both teams. The app for iOS and Android set a standard line, and you have to say if the score will be higher or lower than this. If it is high, choose over, and low means under.
- Moneyline: Here, you have to predict who will win the tournament, like the winner of the Super Bowl, etc. If you can predict the correct option, you get the rewards associated with it.
- Point Spreads: They are popularly known as the spread and make sports wagering more interesting. It evens the playing field by taking points from favorites and getting to an underdog.
The Bottom Line
Wondering how to bet on sports? Well, you must look for a licensed and regulated site and sign up there. With that, you can start placing your wager and win money. Make sure you choose appropriately, so the chances to be correct on every leg are high. Do not forget to use the handicapping rules while playing.
Want to know more about other types of bets to use in the US? Find everything you need in our guides:
Yes, it is legal, so you will come across different options to place your wager.
On top live betting sites, you can place a bet on sports and win prizes.
The platforms where you place wagers, you can check the odds there themselves.
Two-team parlays have higher chances of winning compared to ten-team parlays.
Yes, you can bet on sports events taking place outside the country, provided the site permits you to do so.