Online sports bettors are familiar with different, basic types of bets. But as you become an expert in this field, you think of trying out new betting strategies and tactics. The beauty of online sports betting is that it allows bettors to not only bet on their favorite team or player. It also lets you bet on:
- Margin of victory
- Total points scored during a game or tournament
- The best player of the tournament, and more!
Newbies often choose bets like Money Line and Point Spread bets to get the hang of how online sports betting works. However, seasoned bettors love to experiment, and it can truly be a rewarding experience.
Among many bet types, Parlay bets are considered a highly popular technique among seasoned online bettors; however, it doesn’t mean newbies cannot learn about it. So let’s delve deeper and see how this bet works.
Parlay Bets– Explained
Parlay bet comprises of sports bettors wagering on multiple wins. Making sure that you win this bet depends on how well you predict multiple winners in a particular sports event. There are “legs” in each parlay bet, which is chosen by a bettor for cash bets.
For example, there are three winners in a four-legged parlay. The best thing about parlays is that there’s always a very high success rate for each bettor in the parlay. Each parlay consists of various bettors, so you don’t have to put in a lot of money in one go.
However, the outcome is pretty handsome as inputs from each player are accumulated and given to the winner.
Popular FAQs About Parlay Bets
In this section, we’ve answered the three most frequently asked questions about parlay bets.
1. Does parlay have a good success probability?
Yes, it does. However, compared to a single game, player, or team bets, parlay has a lower success probability for bettors.
2. Are there parlay prop bets?
Yes, there are. However, not all sports bookmakers allow this. Check out Bet365 for extremely lucrative parlay bonuses and promotions.
3. Does a parley bet applies to one game?
No, you cannot place the same parley bet more than once. But there are creative options like using parlay spreads or money lines to increase your winning chances.
Making a Parlay Bet—A Basic Guide
It’s fairly easy to place a parlay bet, especially when you are well-informed about different tactics and strategies around it. A parlay shows up in bettors’ slips and can be paired with teasers, bonuses, and round robins. The best part is, you can also place in-game parlay bets, and multi-sports parlay bets.
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