Why Bet on a Parlay?
Let's begin with a testimonial of a bettor whose first experience with parlays that made
him see the light.
It was summer of 2002 and the Korea-Japan World Cup was about to kick-off. Among the matches in the
opening days were
Senegal-France and Ireland-Cameron. Many sports books were paying ten to one on Senegal to win, since France was the
most favored to win even the Cup. A draw in this match was paying good too. I was strongly tempted to place a buck
(a buck is $100 in betting parlance) on Senegal and another one on Cameron,
because, it has already happened before
that African teams are capable of pulling off an upset, at least at the initial stages of the games (remember
in 1982). However, considering my financial status this was certainly an enormous risk to take.
Prior to this date I was already involved in online sports betting at several online
sports books, placing bets
mostly on single events. Sometimes I win, other times I lose - it was a simple cycle. Overall, I was losing money though not
much. Remember that whenever you are betting, whether you win or lose the bet, you are always losing about 10% in form
of bookie commissions. This means that, in single bets, you have to win about 11 times for every
10 losses in order to even out
Returning to the World Cup games, I didn't want to risk $200 on such highly improbable outcomes, but I still wanted
to play my feelings. After sleeping over it, it occurred to me that the best way to deal with such a situation was to minimize
risk and maximize gain - after all this is what parlays are about. So, I made two 3-play parlays. On one I placed
Senegal to beat France and Cameron to draw with Ireland; on the other I placed Senegal to draw and
Cameron to win. On
both these parlays I also put Denmark to beat Uruguay (which I thought was a
sure thing), and wagered $15 on each
parlay. In addition, I placed two more single bets: $10 on Senegal to win and $10 on
Cameron to win, just in case.
Here is a summary of my bets.
|Game|| ||Parlay-1 ($15)|| ||Parlay-2 ($15)|
|Senegal V France|| ||Senegal|| ||Draw|
|Ireland V Cameron|| ||Draw|| ||
|Denmark V Uruguay|| ||Denmark || ||
|Single bet ($10)|
|Senegal to beat France|
|Single bet ($10)|
|Cameron to beat Ireland|
Then what happened? You guessed it right - I won with parlay-1. Well, also with one of my single bets.
Parlay odds are computed by multiplying the individual odds, and it turned out that the odds on
my parlay-1 were 63. So, the payout on that parlay was $15 x 63 = $945, my
returns on the single bet of Senegal to win were
$10 x 10 = $100. A payout of $1045 on a $50 investment is not bad at all! In fact, I would have won the the same amount
if I had gone with my initial $200 wager, but the difference here is the risk and also the net profit. With the $200 wager,
I would have gained only 5 times, but with the $50 system I gained 21 times my initial bet.
We couldn't have answered the question "Why Bet On Parlays?" any better.
Nevertheless, as an additional answer, we have below a copy of a real bet
slip that resulted in a payout of $9,178.41 for a mere $7.00
wagered at bet365. In subsequent sections we shall display more of our
actual bet slips to justify our assertions on relevant topics.
Obviously, parlay betting is riskier than single bets since the chances of correctly predicting all the selections
is slim - approximately 1 in 45 in the above example (not 1 in 32, as some of you might expect). But, the rewards are
immense if it turns out to be a winner. For that matter, in any gambling, betting, or lotto, slim chances are always
the most rewarding. In parlay betting, however, the chances of winning can be greatly elevated with the proper choice
of games and picks.
Time and again, we have stressed the importance of some features that are
essential to increase your winnings as well as your chances of winning in a
parlay. Two of these features are so important that we believe that they
deserve a detailed coverage in this web site. For this reason, they will each be
discussed in the next two sections. These important features are:
- Point buying/selling
These features are offered
few sportsbooks. In fact, it is unlikely that you find both these features offered
together by a single sportsbook. A few sportsbooks offer one but not the other.