Sports Betting 101 – Newbie Guide To Sports Gambling
Have you stopped by Cappers Picks today to use our experts’ tips for betting Parlay’s? Check back on our site often as we deliver the best in sports news, statistics, handicapping information and guaranteed sports picks and predictions to bet on.
Fact: Parlay betting is a high risk high reward way to bet on more then one sporting event (Or even the same game if you like).
Category: Parlay Betting
Who doesn’t love a good parlay bet? Parlay betting is for my money easily one of the best forms of sports gambling. When you place a parlay bet you can use two or more point spreads, over/unders, or moneylines in the bet, and you are betting they will win, earning a higher payout if all of their picks win than they would have betting each one individually.
When you place a Parlay bet you are betting on two ore more items if even one is wrong you don’t win anything.
- Minnesota Timberwolves -2 (-110)
- Portland Trailblazers -4 (-110)
- New York Knicks +3 (-110)
- Utah Jazz -4 (-110)
If you bet those four games above, each of those teams would have to cover the spread to win your parlay bet.
Benefits of Parlay Betting
The benefit of parlay betting is simple, the more teams you put in a parlay, the more it can pay out, and the payout can be huge sometimes.
Let’s take a look at the example above again. If you bet $100 on the Minnesota Timberwolves above the payout would be $90.91. So if you bet $100 dollars on each of the bets above, the payout would be $363.64 dollars.
But if you put them in a parlay and bet $100 dollars that parlay would pay out about $1300 dollars.
Risks of Parlay Betting
Like most things that have high rewards parlay betting is very high risk. If the odds are 50/50 that you are going to win the first bet, that number lowers to 25 percent once you add a second team.
When a third team is added that number goes down to 12.5%. When a fourth team is added it’s a 6.75%. So for the example above the chance of winning is 6.75%
Different Ways to bet Parlays
There are a few different ways people bet Parlays.
There is just the average bettor, that would probably do the parlay above. They might not be super serious about parlay betting but do it once in a while.
There is also the shot taker. The shot taker usually puts a couple bucks down on a 10-15 team parlay, odds are that that parley never hits, but when it does the payouts are extremely high.
A Parlay Push?
If one of your games ends in a PUSH or a tie at the majority of sportsbooks we promote your bet isn’t a loss. That portion of your parlay will be graded as a push and your parlay will reduce to a parlay with one less game in it.
Ex. A 4-team parlay with 1 push gets graded as a 3-team parlay.