In sports betting parlays are commonly known as sucker bets. That’s because in most cases the bettor gets much worse odds than what the true odds should be.
While parlays are certainly sucker bets in basketball and football, In Baseball there are certain parlay gambling strategies that prove this theory wrong.
A better parlay bet in basketball and football with the best odds would be to use the money lines. That’s why baseball parlays have much more favorable odds than the other two sports because money lines are involved. If you follow baseball and do your research of the teams, then parlays could be something to consider.
When it comes to calculating the amount that you can win from your parlay, you don’t always have to do the math if you don’t want to. An online betting sportsbook will usually show the total amount that you can win once you type in your desired bet amount. There are also many free online baseball parlay-betting calculators that can help you do the math.
Sometimes it makes sense to bet on baseball parlays when you want to make a small bet and simply do not have enough money for multiple bets. If you do get lucky, that small bet could increase significantly. However, if you are not on a budget then it might be a good idea to bet on multiple money lines rather than baseball parlays. You might actually have better odds to win, as you will be taking on less risks. That is, if you lose a few of your bets but win the majority of them then you can make a profit.
Another baseball parlay betting strategy we can give you is to not bet on too many parlays. Statistically it gets increasingly less likely that you will win the more parlays you bet on. Some bettors prefer to stick to 3 to 4 team parlays and to not go over 5 team parlays as the chances of winning those are usually slim.
Every day is different. There will be certain days where you only like favorites, and others where you only like underdogs. However, there will be a time that arises a few different days throughout a baseball season where you find a heavy favorite that you know is going to win and a couple of underdogs that are undervalued. This makes for an excellent parlay opportunity. Let’s say you have a -200 favorite and two +150 underdogs that you like to keep it simple. What you want to do is place a two-team parlay on the -200 favorite with each +150 underdog. Each parlay would profit you $275 with a successful wager. If just one parlay hits, you would lose $100 on the other parlay. That means you’d win $275 and lose $100, netting you a $175 profit on the day.