Parlay Review

What Is Parlay?

In America, ‘parlay bet’ is a term used in place of accumulator bet. In this way, a player can choose to place a stake on two or more instead of putting a bet on one result, and if one of his games is wrong; he loses the remaining bets. But if he can get all the stakes right, which means he has won higher odds, since he has placed a single bet on the same results.

For example, imagine the match odds for the following premiership teams Manchester City and Manchester United, on a single bet, are 1.2 and 1.3 respectively. If a player places a bet on the two of them and the result shows a win, the player’s odds automatically increase to 1.88.

Parlay Explained

A parlay has a different understanding compared to other betting languages as a player does not need to make a parlay on the same bet or sport. For example, a player can choose to stake different sport in one game like staking that Serena Williams could win her first set, then staking Chelsea FC winning by three goals to nothing, then Tiger Woods missing out on the cut at the Open and the New York Mets winning. Each of the bets could favour a player, but the chance that all these games will work out is very slim.

Bookmakers love a player who makes parlay bets, especially new gamblers who make individual bets and not overall bets. For instance, the probability that each of these teams; Barcelona, Glasgow Celtic, Real Madrid, Bayern Munich and Chelsea FC win their league is slim and will be at an odd of 1.25 each. Putting all the odds together the bookmaker will add up all the odds to reach 3.5 while in reality, the odds are more like 5.0.

A reputable betting site like oddshark.com says parlay bets are reasonable only when a player chooses to bet more than one event that has direct relations, for example placing a bet on a team who is to score the first goal in a match and to win a game is a direct bet and increases a player’s chances of winning.