You may be confused about what it means. For years it was a fighting cry between my colleagues and me, particularly during the football season, and when you shout, you probably bought drinks that night. But what does that mean, what’s a parlay, what does that mean?
What is the Parlay?
A parlay is a form of sports bet that combines several bets (typically 10 bets) into one bet or a ‘card.’ The combination of bets gives you worse odds to win but a greater winning reward. The greater the sum of salaries, the greater the payout.
To win a parlay, you must win every single bet on the deck. Let’s say for example, I bet the patriots, the ravens and the Texans to win their games every Sunday. If all three win, I would earn a much bigger payout than if I bet every game on their own. However if one team loses its bet, the whole card is lost.
The only exception is for a “push,” the gambling word for a tie. If one of the card games pushes, the bet is excluded from the parlay. So if the Ravens linked to their game, it becomes a two-bet parlay in the case of our three team bets above. If the Patriots and Texans win their matches, the bet pays out as a parlay between the 2 teams. The reward is less than if they were all three winners, but hey, you still win some money!
Although the likelihood of winning large parlays (5-10 wagers combined) is relatively small, it makes it possible to gamble a small amount of money for a potentially big price. For example, if you won every game a 10 parlay team bet for $25 will pay out over $16,000.
Now that you understand the fundamentals, let’s see how many bets you can match to make your fortune!
Over/under bets (or bets on the “total”) are wagered by both teams on the total number of points scored in any given game. The sports book sets the “line,” the number on which your decision will be based. You bet if you believe that the total score of points is above or below this figure.
Over/Under or Totals, bets are very popular in parlay betting because they allow you to make many bets on the same game. A common strategy is to bet which team you think will win, and then talk about whether you think that the game goes “under or over.”
So let’s say your Uncle Tony has a tip that Aaron Rogers gets a hidden shoulder damage, and Green Bay will have trouble throwing the ball. The line has been set to 53.5. Moreover, they play the Browns, but you still think they’re going to win. Maybe you want to bet Green Bay and the bottom. You then bet that Green Bay will win the game, but the injury will lead to a lower score, so the combined score from the two teams will be lower than 53.5.
You may have noticed the half point I described above in the illustration. For sports betting, those half-points are called the hook. Sportsbooks use half-points for most bets, especially over/overs, restricting push possibilities. Bettors “hook” in one side or the other of the bet.
Point spreads, generally known as spreads, are what makes sports betting interesting. Without them, every week we could all bet the favorite team, make a lot of money and break up Vegas in a month.
An region spreads the game by taking points from the favoured team and giving them to the underdog. So for example, the leaders play the Colts in what is supposed to be a very challenged game. The Colts are favoured by a field target.
This will look like “Colts -3” or “Chiefs +3,” depending on which side you choose to bet on the sportsbook board or the website. So if you wager the Colts -3, but the Colts win by 1, you actually lost the 2-point wager. Congratulations, if you bet the +3 chiefs, you won!
The amount of points the underdog gets or the size of the spread depends on how poor the teams are. In the NFL, the spread rarely occurs between 13.5 or higher, but you have teams regularly cover 60 points in sports like college football.
Although the item spreads themselves bring a certain amount of complication to the bets, additional possibilities will add to the fun. It is called Teasers and Pleasers—my heart rate only types these words for you!
For me, teaser parlays are the best thing that sports betting occurs since the advent of the online casino. A teaser bet helps you to shift the point spread we discussed above to the better (typically between 6 and 7.5 points), which would be favorable for you. If you gain a teaser parlay, you get less reward, but it increases your chance of winning.
Therefore, we had the Colts favored by 3 points in the case of the Colts and the Chiefs above. If you “did line” 6 points, then you can switch the Colts from -3 to +3.
You add 6 points to the already given spread. You have a bet on the preferred team now, and now you win your bet whether you win it as planned or lose it by less than 3. I like your chances! I like your chances!
What is even better is you don’t just have to tease the spread of the stage, you can tease it all out or over/under! So if the spread of points was 53.5, as in our example, you might skip this line to 46.5 (7 teaser points) and then wager it over. Or, you can bet the bottom by pushing the bottom up to 60.5. Like sweets from a boy.
Make a pleaser bet pushing the Colts from -3 to -10.5 all the way. You bet then that the Colts are going to defeat the leaders by at least 11 points.
Since Pleasers are done only on parlay cards, at least 1 more wager would be required. Let’s use our favourite bet in this example to travel over / below 61 to wager over. There’s a Pleaser Parlament with the Colts -10,5 and the Over now 61. I wish you luck as a sports better; I hope you fail as a Texan fan.
Moneyline bets are the last little wrinkle to talk about here. These bets exclude the distribution of the point from the equation. It’s a bet based specifically on the winner and loser. You say “I don’t care about any of those statistics. I think my team will win, and that’s what you’re thinking! ”
Moneyline bets can be very lucrative if a surprise can be expected. If you wager the preferred moneyline squad, however the payoff would be less. How much less depends on how much the team you bet on preferred.
You can match moneyline bets on a single parlay with point spread bets, but you cannot mix them with teaser bets. If one wager is teased/pleased on these cards, you must tease/please them all.