The schedules and nature of the sport make parlays very attractive to many football bettors. Most seasoned and successful bettors, though, generally avoid parlays because they don’t provide the best means of making money over the long term. You need to decide for yourself if parlays are the right things for you or not.
Here are some points to consider:
- Parlays can be seen as progressive betting systems. These strategies rarely allow you to grow your bankroll.
- Parlay bets have higher variance than straight bets. Here you’re getting the same odds, but your chance of hitting a dry spell is greatly increased.
- Line Shopping – Sports bettors maximize their profit by always shopping for the best price.
Now Let’s consider some of the reasons why you might want to play a parlay.
- Reduced Juice – One site might offer 6.5 to 1 on a three team parlay. That works out to an advantage over betting -105 that other sites might offer.
- Correlated Parlays – If a bookmaker was offering betting lines on both “will it be cloudy today?” and “will it rain today?”, if allowed, you’d be much better off betting either both as no, or both as yes, in a parlay bet as opposed to straight wagers. While this is a simplified example, there are plenty of times when outcomes are correlated in sports betting.
- Free Play Bonuses – Several online betting sites, offer players free bets based on the size of their initial deposit.
Here are some Do’s and Don’ts on how to bet Parlays:
- No matter how tempting it may be, try not to risk a lot of money on a parlay with more than three or four teams.
- Instead of a seven team parlay, you can bet on a parlay with two to four teams, because the chances of you winning this type of parlay are way better than your chances of winning a seven team parlay.
- You can increase your chances of winning by spreading it across several sports
- When placing a parlay bet, you should bet the minimum possible every time you are picking more than 10 teams.
- Another parlay strategy that has proven to work over the years involves keeping track of the trends.