Your parlay bet will be paid out only when all your wager legs win. A football parlay betting strategy can help you churn consistent income without much research or effort.
A successful parlay can give a sizable push to your bankroll, on a relatively small outlay. Also known as accumulator bet, combo bet or multi bet, a parlay combines two or more wager legs.
Football Parlay Betting Strategy – Getting Started
Parlay bet has a lucrative multiplier effect as it involves odds of different wagers to multiply into an enticing payout. At face value, a parlay bet may appear simple but it has deeper considerations in between the lines.
To win a parlay bet, you need to win every individual bet on your card. For example, if you have bets on the Patriots, the Ravens and the Texans. If all three of them win their respective matches, you win the parlay bet.
The reason parlay bets are so sought after is because once all the three teams win, you get a much bigger payout compared to what you would have gotten if you had bet on each game individually. On the flip side, if any of the three teams lose their matches, you not only lose that single bet, you will lose the entire card.
The only exception to this rule will come in the case of a “push”, which means a tie in gambling dictionary. If one of the matches from the card draws, that particular bet is removed from the parlay and what remains with you is a two-bet parlay. If Raven draws and Patriots and Texans win their games, your bet will pay out as a 2-team parlay.
If you are thinking of combining 5 to 10 bets together, remember the odds of winning such large parlays is comparatively low however, such bets allow you to put a small amount of money at risk in hopes of a potentially large return. For example, if you bet $25 each on a 10 bet parlay, you would payout over $16000 if you win each of those games.
A successful football parlay betting strategy is often a result of tedious effort, trial and errors, which often cost quite a bit of money, but if you can persevere, there can be no other strategy that consistently provides such winning outcomes.
How To Calculate Parlay Odds?
There are a number of ways you can go about calculating how much you will win on your parlay bets. The first one is to use online sites. As you keep adding games and bets to your parlay card, these online sites will calculate your payout amount in real-time. They will show you how much you can win even before you place your parlay.
The second easiest way is to use an online parlay payout calculator. You can enter the different lines and the calculators will show you the amount you will earn if all the bets in your parlay win. Although, keep in mind that these calculators will only show the profits or the amount sportsbook will pay you.
The third way to calculate parlay payout is to calculate it yourself. Quick warning, the number you get will usually be close to the actual payout. The sportsbook will likely shift the payout slightly in your favour or against your favour.
- Convert the moneyline odd on each bet into decimal odds.
- Then multiply all your decimals together.
- Take the final number and multiply it by the wager.
- The resultant number will be the amount sportsbook will give back to you.
- Now subtract your original bet from the final amount.
Football Parlay Betting Strategy
Smart bettors use a variety of different winning parlay systems to gain the most profit out of their parlay bets.
Use Sportsbook Rewards & Bonuses
Most online sportsbooks have promotional programs that offer rewards for loyalty, making deposits, regular betting or more in terms of free bets.
You can use these bets on parlay. If you place a $10 bet on a parlay offering odds of 9-1, your payout will be $80. This is the result of $90 minus the $10 stake of free bet.
Watch Out For Home Underdogs
Underdogs carry a lethal multiplier effect which is exactly what every successful parlay needs. This parlay strategy rests on the fact that teams who play at home field in front of their families and cheerful home crowd have a much better chance at winning.
Home underdogs commonly pay well above 2-1 odds which essentially multiplies the total parlay odds.
Double Dog Parlay
In this super power parlay strategy, choose two underdogs and wrap them into a 2-team parlay bet with decimal odds of 5.00 or higher.
Many times gamblers place 4 or 5 leg parlays on strong favorites which results in the first 2-3 matches winning and the last one being beaten by an underdog. Hence, a double underdog parlay can prove more valuable than a bundle of favorites.
Merge Two Favorites
Another variant of a 2-team parlay, this strategy involves carefully choosing two favorites, stacking them together into one parlay and letting the profit from their first win lead them into the second leg. The resultant profit is a small stake but yet a profitable return.
Moneyline Parlay Strategy
A go-to strategy for most sport bettors, moneyline parlay is made strictly off moneyline favorites.
Favorites Plus One Parlay
The strategy is simple – create a parlay by adding a few moneyline favorites first and then add an underdog into the mix in order to boost odds. This method turns a low paying parlay into a high paying one.
The success of this recipe lies in two main ingredients – #1 a solid list of favorites and #2 a reliable underdog.
For the list of favorites, you can choose heavy favorites but make sure that their odds add up to 1/1 ratio. As for the underdog, it becomes the most challenging of the tasks but also this is what makes the parlay so profitable.
As the parlay winning system grows more and more popular, how much does a 15 team parlay pay is a question on every high-achieving bettor’s mind. A 15 team parlay pays out over +16,000.
We hope you have a greater understanding of some of the winning parlay betting strategies that you can use to build a stronger bottom line.