You don’t have to be an expert sports bettor to know that you can win big by betting on multiple games at once. It’s called a parlay, and it’s one of the most popular ways to place bets on sports today. But there are plenty of tips and tricks for successful parlays – here are a few of them that every parlay player should know.
What is Sports Betting?
Sports betting, also known as sports gambling or just betting, is exactly what it sounds like - betting on sports. If you enjoy watching sports, there’s probably nothing more exciting than watching your favorite team win with money on the line. Sports gambling can be simple or complicated, depending on where you are in terms of experience level. There are different types of bets and ways to get started in sports betting, but one thing is true regardless: You need to learn how to place wagers if you want to have fun while cashing in on cash. So let’s get into our list of tips that will help anyone who wants to start making money through sports gambling do so more easily and consistently...
What Are Parlays?
For sports bettors, parlays are wagers that combine multiple teams or events into one betting ticket. For example, you might pick four games to parlay; if all four of those picks win, you’ll be paid out at much higher odds than your base bet on each game individually. The idea behind parlays is simple: Instead of trying to beat many individual bets, try to beat one big one. That makes sense in theory—but it doesn’t always work out in practice.
Compare the Types of Bets
The most common type of parlay is a point-spread or straight-up bet. A point spread wager means picking one team to beat another by at least 2 points (some sportsbooks will let you set your own spread). A straight-up bet just requires that you pick one team to win against another (some sportsbooks will let you pick more than one team as well). Because both of these bets are directly connected, parlays involving them aren't technically classified as parlays. Rather, they're accumulators because they involve multiple games whose results feed into each other.
Calculate the Odds
Calculating betting odds is one of those things that can look daunting if you’ve never done it before, but it doesn’t have to be complicated. By keeping these tips in mind, you’ll be sure to build an accurate calculator every time. You may even discover that doing so will provide you with an incredible competitive advantage. Whether you’re backing a favorite or underdog, or parlaying several games at once, there are many different ways to calculate your winnings from each wager—and knowing which method to use can mean all the difference.
Pick the Most Likely Bets
When putting together your parlay, you’ll want to choose teams that are more likely to win than not. The odds that each team wins can be found on online sports betting sites. In addition, they will list how much money you would win if they did win. This number is easy to calculate – simply add up all of their individual winnings and see which one has the highest total.