Top 10 Tips for Betting on Parlays

1. Do not be afraid to dream big. Be ambitious.

Parlays can be a great way to convert a small stake into a sizeable bank-boosting payout. This is not the time to be timid. This is the right time to combine some of your ‘gut feeling’ wagers that you may not otherwise be keen to place an entire unit or multiple units. Check out the best bookmakers for betting on Parlays.

This is where the small stake multiplies into considerable payout odds in your favor. The double-digit odds are standard. This is how parlay bettors can turn a 10- to 1-half unit parlay into an effective 5-unit betting bank booster.

Not only will it boost your account balance, but you’ll also be able to boast about your accomplishments with your friends for weeks. Even the worst beats can be worn as an honor badge.

Fortune favors the brave.

Check out the top sportsbooks for betting on Parlays

4.6/5

DraftKings Review

Bet $5, Get $200 in Bonus Bets Instantly!

T&Cs apply, 21+

Bet now

4.6/5

FanDuel Review

Bet $5 Get $150 in Bonus Bets if you win

T&Cs apply, 21+

Bet now

4.5/5

BetMGM Review

Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win

T&Cs apply, 21+

Bet now

2. Select a Parlay period that suits you.

Parlay, by nature, doesn’t pay until all legs have been settled. This should be enough time to satisfy your gambling needs. You should not tie up your stake for an extended period if you want your parlay legs to end simultaneously or on the same day.

Your stake might have tripled or quadrupled, but you won’t be able to access the money until the final leg. You will still have to pay another part of your capital for a hedge that guarantees a result.

You may also be a gambler who likes to make the most of your parlay. In this case, you might want to spread it across a whole weekend or season. Futures markets can be your friend. You can enjoy the excitement of a big win and dream about how you will spend or reinvest it.

Each person is unique, but you should ensure that your parlay fits your timeframe.

3. Avoid the Point Spread

A parlay that combines points spread (handicap wagers) is a significant offense for recreational punters. Three bets ATS (against the spread) add up to shy 7-1. This is a great bet! Wrong!

These three legs parlay have 8-1 odds of success, as each leg has a 50/50 chance to land. It’s no surprise that sportsbooks promote the points spread parlay.

One caveat to the poor point spread parlay value is if the bettor believes that they have correctly calculated handicaps in games. It is possible, but you should know that you are taking on the pros. In this instance, you are placing a wager on each outcome directly than a parlay.

4. Multisports can expand your parlay options.

The value will be easier to locate if there are more options. Parlay strategy success is dependent on this key ingredient.

In the following ways, can you expand your parlay possibilities:

• • • Expand your search to include multiple sports
    • Make a list of potential value choices
    • Determine the parlay length
    • Reduce the list to what you need
    • Get your energy up

5. Find a hedge opportunity

A well-placed parlay offers the opportunity to hedge against the loss of any legs. You can hedge to ensure you win or protect your stake. Play defense to make sure you don’t blow up your account. Check out the top sports betting sites for betting a parlay!

Hedging is not a negative play. It does not indicate a lack of confidence in your original wager. Hedging is simply a way to play the numbers and buy insurance. Experienced bettors know that fate can and will often intervene at the most inopportune moments. A bad call by a referee or an injury to a key player can bring your parlay down.

You can lock some profit, relax, and then watch the game. Or, you could start planning your next parlay.

6. Get Free Bets

Online sportsbooks often reward customers for being loyal, making deposits, betting regularly, or wagering on promotions with bonuses or free bets. These bonuses and free bets have one problem: you, the bettor, only get the profit. For example, if you wager on a favorite -110 money line and they win, you’ll only receive $9.20. Your original stake, $10, is not returned. This doesn’t sound very exciting.

You can use your parlay-free bets. You can try a combination of bets to get better odds than a favourite.

Check out the top sportsbook providers for betting on a Parlay

1.

4.6/5

DraftKings Review

Bet $5, Get $200 in Bonus Bets Instantly!

Players from Virginia accepted

Bet now

T&Cs apply, 21+

2.

4.6/5

FanDuel Review

Bet $5 Get $150 in Bonus Bets if you win

Players from Virginia accepted

Bet now

T&Cs apply, 21+

3.

4.5/5

BetMGM Review

Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win

Players from Virginia accepted

Bet now

T&Cs apply, 21+

4.

4.5/5

Bet365 Review

Bet $5, Get $150 in Bonus Bets Guaranteed

Players from Virginia accepted

Bet now

Subject to meeting qualifying criteria. Minimum wager $5. Minimum odds -500 or greater. $10 minimum deposit. Paid in Bonus Bets. Bonus Bets wager excluded from returns. New customers only. Available in app only. Max. prize, game restrictions, time limits and T&Cs apply. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply.Gambling Problem? Call 1-800-Gambler 21+

5.

4.5/5

Caesars Review

First bet back as a bonus bet up to $1000

Players from Virginia accepted

Bet now

T&Cs apply, 21+

7. The Home Underdog

The home-field advantage is a remarkable thing in the world of sports. When they are in front of their families and loyal fans, teams seem to gain an extra leg. Athletes are motivated by unique weather conditions, stadium layouts and home cooking. The star-studded visiting team might find themselves in a trap.

Home underdogs are worth considering in a parlay. Underdog status has a powerful odds multiplier effect. A home underdog could pay well over 2 – 1, doubling the total parlay odds. This is precisely what every parlay should have.

8. Combining two of your favorites

Online sports bettors are tempted to gamble on their favorite team. Quick in and out is a great way to increase your bankroll. To see any substantial return, the gambler must wager a significant amount. You can lose your entire account balance in a single loss. This is not always the best strategy for long-term success.

The favorites parlay double is a great option. Take two of your favorites and combine them into a parlay. Your stake and profit will win the second leg. This will result in a smaller stake but a greater return.

The NBA parlay is an example of this. It combines two home favorites to create a solid bet at decimal odds of 1.82. This is an excellent return. Check out the best new bookmakers for betting on a Parlay.

9. The Double Dog Parlay

The underdog double is an underrated but very powerful parlay. You can easily make a double by carefully scanning the markets, choosing two value underdogs, and then sneaking them into a double.

Many gamblers have heard of the 4 to 5-leg parlay with strong favorites that offered odds of 3 to 1. The first four legs win easily, and the final one loses to a heavy underdog. Then you are asked the question: “If only I had wagered” on that dog.”

The double underdog parlay is more valuable than the bundle of favorites. Double underdog winners are a common occurrence in Major League Baseball and NBA.

10. Keep your bet size under control

Sometimes, gambling can be blinded by the odds. The bettor may start to believe that an increase in their bet size is the smart move. It isn’t. The blinded gambler can be already thinking about the numbers and dreaming about a flood of cash.

The successful parlay bettor is like the golfer who wants to hit the ball farther but maintains the same swing and changes the club to keep it in tune. This way, if the parlay is lost (often happens), the stake does not change, but the bettor isn’t taken to court. The stake will remain the same, but the parlay will become more complicated if they are after a large payout.