Parlay betting in football is currently a trend bringing considerable profits to participants. The process of selecting parlay bets is straightforward – just choose the teams you want to bet on, and the parlay bet is placed. Due to the potential profits of parlay bets, it has become a significant concern for bettors. If you also want to understand what parlay betting is, follow our article below. In this article, we will guide you on how to play parlay bets, share some useful experiences to apply when betting on parlays, and increase your chances of winning.
What is parlay betting?
Parlay betting, also known as accumulator or mix parlay, is a type of bet that combines different odds into a single bet slip. These odds can include Asian handicap, European handicap, over/under, or 1/2 odds. In other words, parlay betting involves grouping individual bets together into one betting slip (ticket) with at least two separate bets.
Instead of betting on the final score, corner kicks, or individual fouls as in traditional bets, parlay betting combines these selected bets into one betting slip.
The advantage of parlay betting is that players only need to invest a small amount, but they can potentially win a significant amount if successful. Winnings can be doubled or tripled depending on the number of individual bets in the parlay. Another advantage of this type of bet is its simplicity and ease of placement.
The disadvantage of parlay betting is that if any of the individual bets in the parlay loses, the entire parlay is considered a loss. This means that to receive a reward, all bets in the parlay must win. However, this is a minor drawback and does not significantly affect the popularity of this bet type.
Therefore, experienced players often choose this playing style, as it allows them to earn substantial amounts without spending too much time analyzing individual bets as they did before.
Rules of parlay betting
When participating in parlay betting, you should be aware of the following key rules:
If a match is canceled or postponed, the results at that time are considered void, and the bets are canceled. The reputable bookmakers will refund the amount wagered by the players unless specific rules apply in certain sports.
As mentioned earlier, when participating in parlay betting, you can place multiple bets simultaneously. The rules are simple – you need to bet on at least two matches. Then choose the corresponding odds for your selections. The odds will be displayed openly by the bookmaker for players to check whenever needed.
After selecting the bets, you only need to enter the amount you want to get into the system. At this point, the system will calculate the detailed information about the potential winnings if you win. Alternatively, you can enter the amount you want to receive if you win, and the bookmaker will automatically calculate and display the odds for you.
Guide on simple and effective parlay betting
To start participating in parlay betting (mix parlay), you need to access the bookmaker you are using. In this guide on parlay betting, we will use the reputable bookmaker Wintips as a standard for easy understanding.
Step 1: After logging into your Wintips account, go to the homepage, select the Sports category, and choose a sports type you want to bet on at Wintips8. In this example, we choose Sports Wintips.
Step 2: On the Wintips bookmaker's odds board, select the Parlay option on the left menu. Then choose the football match you want to bet on, at least two matches.
After placing the bets, you just need to wait for the results to see if you win or lose. If you want to check your bet slip, click on Open Bet to review it, as shown in the instructions above.
How to calculate parlay bets based on Asian handicap
For these types of bets, parlay bets are calculated using the following formula: Parlay odds = Winning odds x [(Odds of half-win - 1)/2] x ½ (if half-win) x 1 (if draw) x ... Odds of the Nth bet.
In this formula, the winning odds represent the profit you gain multiplicatively. If any bet in the parlay is half-winning, the formula is: [(Odds ratio - 1)/2] + 1. In the case of a half-losing bet, the parlay odds are divided by 2. For a draw, the profit is multiplied by 1.
Example: Suppose you place a parlay bet on three matches (A vs. B, C vs. D, E vs. G) with the following odds provided by the bookmaker:
Match A vs. B: Team A with odds 2 ¾, odds ratio 2.05, and the match ends with a total of 3 goals.
Match C vs. D: Team C with odds = -¼, odds ratio 2.00, and the match ends in a draw.
Match E vs. G: Team E with odds = -½, odds ratio 2.10, and the match ends with a 3-0 victory for Team E.
With these results, we see that in the first case, Team A only wins half of the bet. The other two teams, C and E, win all their bets. For this situation, the specific parlay odds calculation would be [1 + (2.05-1) / 2 x ½ x 2.10] = 0.55125 x M = the amount of money you will receive.
How to calculate parlay bets based on European odds
For European odds, calculating parlay bets is much simpler. You only need to apply the following formula: Parlay odds = Betting odds 1 x Betting odds 2 x Betting odds 3 x ... X Betting odds N.
Example: Suppose you place a parlay bet on three matches (A, B, C) with the following odds provided by the bookmaker:
Team A odds 1.80
Team B odds 1.50
Team C odds 1.50
In this example, the parlay odds calculation would be 1.80 x 1.50 x 1.66 = 4.482. If all three teams win, the amount you will receive is 4.482 x M = the amount you will receive. However, if any of the three teams lose, you will lose the entire bet.
>> See more: Discover the top 5 new betting site uk for 2024
Most accurate experiences for playing parlay bets
Parlay betting is easy to play, and the profit potential when winning is substantial. However, not every bet is a guaranteed win, and randomly choosing without understanding the strategy can result in losses. To succeed against bookmakers, you need to spend time learning and accumulating experience from previous bets and insights from top bettors. Below are some gathered experiences considered as secret tips for playing the most accurate parlay bets today; feel free to consider them.
Choose parlay bets in certain victories
Parlay bets are not as difficult as you might think. The only challenging aspect is selecting and grouping matches into a reliable winning parlay. Predicting exact scores can be challenging, making it easy to lose bets. Therefore, do not be too greedy and avoid combining too many parlays. The difficulty level will be proportional to the number of selections. Before placing a bet, thoroughly research information about the teams and only choose teams with high winning rates to include in your parlay.
Only bet on short parlays
If you are a newcomer with limited experience, avoid high-profit parlay bets and betting on many matches in one parlay. It's recommended to start with parlay 2 bets, as it is easier to win by predicting the outcome of just two selections.
Parlay 3 bets can also be considered with small wager amounts. However, for parlays 4, 5, 6, and beyond, it is not advisable to try them. The probability of winning is extremely low if you have limited experience.
Parlay bets come with a certain level of risk, so it's best to choose parlay 2 bets or parlay 4 bets for fun without risking too much. Avoid going for too many parlays, as the risk level is high and can lead to excessive gambling.
Experience in choosing the right timing for parlay bets
When participating in parlay bets, it is essential to control yourself and not get carried away by uncontrollable gambling impulses. Not every time is suitable for playing parlays, and it is crucial to observe how the matches unfold to choose the most appropriate parlay bets. Deciding when to bet based on on-field developments is the best way to make easy predictions for all selections.
When playing parlay bets, do not select bets from the same match (except for parlay 3 bets – Asian handicap, European handicap, and over/under bets). Pay attention to the live betting options offered by bookmakers to capture the golden moment. Many successful bettors have applied this strategy with great success, as the winning odds are almost absolute.
Only play parlay bets at reputable bookmakers
When deciding to participate in sports betting, especially with parlay bets, it is crucial to remember to choose parlay bets only at reputable bookmakers strong in football betting. The advantage of choosing reputable bookmakers is that they often offer additional bonuses to players participating in parlay bets. When facing issues or errors while placing bets, reputable bookmakers tend to prioritize resolving the players' interests. Therefore, even in unfortunate situations, players can still rely on the rewards from these reputable bookmakers to recover more quickly. Some reputable bookmaker rating for football betting that you can consider are Wintips, FUN88, W88, among others.
Note when playing parlay bets
When participating in parlay bets, be aware not to include bets from the same match in one parlay, as this is not valid for most bookmakers. With some reputable bookmakers, when you bet on five parlays or more, you will get a refund calculated proportionally to the amount you wagered. Therefore, you need to carefully check the rules before placing bets.
You also need to differentiate between single-parlay bets and combined-parlay bets. When combining multiple bets, a significant amount of money is required. Of course, betting on more selections offers a higher winning probability. Examine the betting ticket frame for details on odds, winnings, amount wagered, etc. While the parlay is ongoing, and the match is in progress, you may choose to refund the bet slip if there is already a winning bet in the parlay. The representation and amount refunded may vary depending on the bookmaker.
With this article, we have analyzed what parlay betting is for you. Through this article, you can derive many useful experiences to apply in football betting. Parlay betting is undoubtedly a preferred and popular form of betting due to its potential for significant profits, allowing players to quickly recover from previous losses. The choice of the bookmaker for football betting is also crucial, so you need to be cautious when selecting a bookmaker. If you are unsure which bookmaker to choose, you can directly opt for Wintips, the new bookmaker australia to open an account and participate in betting. Wishing everyone success and even more luck.
