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Why do bettors enjoy parlay betting that much, how does it work?
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I didn't bet using parlay type. Am I missing something here, is it that great of a deal? Why do bettors enjoy parlay betting that much, how does it work?
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15.12.2014, 12:49
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First of all, parlay betting is one of the most popular forms of sports wagering. With parlays, bettors can bet that two or more point spreads, over/under, or moneylines will win, earning a higher payout if all of their picks win than they would have betting each one individually.

So the main reason why bettors enjoy parlay is because the big potential returns. The average odds at most sportbooks for parlays are +260 for 2-team parlays and +600 for 3-team parlays.

So if you starting bet, lets say, 55 dollars to win 50 on Miami -2.0 -100, and 55 to win 50 on Seattle +4.0, and both won, you'd profit 100 dollars. But if you parlay and put 100 dollars on 2-team of Miami -2.0 and Seattle +4.0 and both won, you'd profit $260 at the standard +260 price.
15.01.2015, 10:41
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veldhusir_tipser
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Yes, parlay betting is one of the most popular forms of sports wagering, but not only bettors love parlay betting, sportsbooks also love parlays because they make way more vig on parlays than on straight wagers.

Anyway, you might ask yourself how can a proposition be both hugely favorable to books and professional gamblers at the same time? Well, the answer is pretty simple actually. While most sportsbooks struggle to achieve the Theoretical Hold Percentage of 4.55 for example, on straight wagers, three-team parlays routinely achieve Practical Hold Percentages over 12 percent.

Basically, you've paying at 6-1 on a proposition with true odds of 7-1. Assuming oddsmakers have made a resonably effective pointspread, or assuming bettors typically pick correctly 50 percent of the time. So you can easily see why sportsbooks managers encourage parlays.
15.01.2015, 13:30
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Ty_bet_bounce
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Parlay betting is very popular among bettors and it's also one of the favorite forms of wager for NFL gamblers and is the most popular form of wagering besides sides and totals narrowly beating out teasers. While some bettors seem to swear by them, others never go near them.

The main reason because the parlays are that popular is the fact that they are profitable. Parlays are basically single wagers linked together, all of which must win for the parlay to be graded as a winner. The odds are greater than individual side or total bets. For instance, a two-team parlay pays +260 and a 3-team parlay +600, and as you add more odds to the parlay the odds continue to increase.

Just think about it, a winning ticket on a 10 team parlay pays out imensely even with the massive edge by the sportsbooks. A $100 wager has potential winnings of 30.000 which is a nice chunk of change for the sporsbooks to payout.
15.01.2015, 13:48
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In my opinion and I am sure I am not alone on this one, parlays are normally a bad bet. It is clear parlays have significant bookmakers edge, especially as bettors begin to increase the number of teams. One of the main reasons for the increase in the edge is the risk and variance taken by the sportsbooks if someone should hit one of these bets for massive money.

Also, parlays are high odds bets with a low rate of success and will increase variance more so than straight wagers on sides and totals. Plus, you won't get the best line if you are betting parlays because you simply aren't line shopping.

In NFL for example, sportsbooks are hard to beat, because line shopping is vital. And when you bet a parlay you basically trow the line shopping out of the window.
15.01.2015, 15:55
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It is simple, bettors like parlay betting because it is profitable. But you should keep in mind some important aspects before go an place your bet using this method.

The first thing that comes to my mind is to not go over three. Feel free to examine the table above again as it is quite clear the bookie's edge gets a lot larger after two and three team parlays The true odds of +300 for two-team parlays are not far from the offered line of most sportsbooks at +260. For three teams parlays, the true odds of +597 are only slightly off from the +600 offered at most sportsbooks.

These are by far the best options for parlay bettors. Keep in mind that even the vig continues to inrease, 4 or 5 team parlays are much worse than one or two teams. And as we get close to 10 teams, the odds on parlays are among the worst bets for sports bettors.
 
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