Parlay Betting Online
"Parlay Betting" - Parlay's are one of the most exciting forms of online sports betting. The reason people enjoy playing parlays is the fun and action of risking little to make a bunch or possibly a gambler is trying to chase ther winnings back from straight bets.
Best Betting Sites For Parlay Betting
There is more then a few reasons why people bet on parlays and why others don't.
What Is A Parley Sports Bet?
Statisically speaking Parlay betting at online betting sites are considered a suckers bet, the odds are against the bettor who bets on parlays expecially on any parlay higher then 3 teams. A 2 team parlay usually pays out 2.6 to 1.
To win a Parlay bet online you have to win all selections placed in the parlay, If You go 3 and 1 You still lose your parlay. Please take a look at this simple Algebra aquasion on a Simple 2 team parlay:
- P (2.6) - (1-P) = 0
- 2.6P - 1 + P = 0
- 3.6 P = 1
- P = 1/3.6 = 27.7%
Now after reviewing this formula, to simply break even you have to get both teams right 27.7% of the time simple just to break even. The average parlay bet only hits around the 25% mark on there parlays so sports betting websites are able to juice them out until they have a zero balance.
There is only one possible way statisically to win in the long hall betting parlays online and they are called Correlated parlays.
Parley Betting Tips
Before I go into explaining what a correlated parlay bet is I want to mention your basically looking for parlay situations in which that are higher then the average break even point.
Here is an example of a correlated parlay bet:
- New York Giants -24
- San Diago Chargers +24
- Over/Under 26
You will not find many games that are like this on the boards, reason is the total and spread is usually not so disperse on nfl games, however, you will find parley types of wagers in College football games.
What you would bet in this correlated parlay would be something similar to the New York Giants -24 and the Over 26 for the game total.
Not all online sports betting web sites allow you to wager on Correlated Parlays in fact most will suspend your account or disable you from betting them after a short amount of time if you show a clear pattern of winning
I hope this information helps you regarding parlays and if you decide to wager on them or not. Check out further information on other wagering types.