So you’ve redeemed a few single tickets in a row, you are read the betting lines well and you want to test yourself. It’s time to set up some parlays. The wager itself is simple: select multiple games and / or player results, and if you guess them all right, you can turn a single-digit stake into a massive payday. It’s also one of the hardest ways to cash out a bet.
It is important here that you do not limit yourself to betting on just one sport when competing. While single sport bets are more common, you can spread your bets across as many games, leagues and sports as you want. Here’s a look at how to place your bets, win big and avoid disaster.
This is how a parlay works
Parlays allows you to combine multiple bets for larger payouts. Assuming you’re certain that the Chicago Bears, Tampa Bay Buccaneers, and Dallas Cowboys will cover their respective spreads this week. Instead of betting each game individually, a parlay combines these three outcomes at significantly higher odds.
If the Bears, Bucs and Cowboys are all -115 favorites (bet $ 115 to win $ 100) the parlay odds go up to +553 (bet $ 100 to win $ 553). Payouts are calculated by multiplying selected odds together, so you need at least two bets to create the bet.
However, to earn that payday, every leg of the parlay must hit. If any of the outcomes you selected does not occur, the bet is dead. It is an all-or-nothing scenario.
It’s fun here: bettors can mix and match the results. Let’s say you’re sure the Cowboys will cover, but you don’t know if the Bucs will do the same. You can add the Cowboys Spread and the Bucs Moneyline or Over / Under to complete your parlay. Bettors can also combine player props to create a parlay, which means you can choose the cowboys to cover their spread and Tom Brady to throw for a touchdown to create your ticket. The possibilities are endless.
“Lorenzo’s Locks” are in, and now as a parlay at +670 in the @Tipico📲 App⚡️
– Tipico Sports Betting (@tipico) October 1, 2021
More risk, more reward
The more bets you add to your game, the higher the odds and the higher the payout. Would you like to put a 16-team game in the NFL every week? Depending on the odds, you can convert a $ 5 bet into a few thousand dollars.
You can also place a two-legged parlay for more money with a little less risk.
The key is to choose your points and results wisely. This +2000 moneyline for the Jacksonville Jaguars can help increase your overall chances of winning, but it could also fill up the entire bet.
It is up to you to decide and create the best overall bet. If you can actually see the lines well, it will prove a parlay. Even if you don’t, you don’t have to risk a lot to make a profit.
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