A parlay is a type of bet in which several individual bets are combined into one bet. This means that in order to win the multi bet, all the individual bets included in the multi bet must be successful.
For example, if you place a multi-bet in which you include three single betsA bet that team A will win the match, a bet that team B will win the match and a third bet that there will be more than 2.5 goals in the match, to win the combined bet. all three of these bets must be successful. If any of them fail, you lose the entire accumulator bet.
Some parlay bets are also known as “multiple bets“, “accumulator bets” or “combinated bets“.
Parlay bets tend to have higher odds than single bets, as they are more difficult to match due to the fact that they require multiple bets to be successful. However, they also offer the opportunity for higher winnings if you manage to match all the bets included in the combination.
You can include any number of single bets in a parlaybet. However, as you add more bets, the difficulty of hitting all of them increases and therefore the odds of the multi-bet also increases.
Types of parlay bets
- Parlay bets can be of different types, depending on the individual bets included in them. For example, you can place a combination bet with bets on the outcome of football matches, bets on the outcome of tennis matches, bets on the outcome of a boxing event, etc.
- Some betting sites offer the option of tailor-made combination bets, allowing you to select the individual bets you want to include in the combination yourself. Other sites offer pre-defined parlay bets, in which a number of individual bets selected by the site are already included.
Why shouldn't I place such bets?
Bookmakers often have an advantage over punters on parlay bets due to the fact that these bets are more difficult to match. However, this does not necessarily mean that bookmakers always make money on parlays.
As with any type of betting, there is a probability that punters will win or lose on parlay bets. The bookmaker sets the odds on parlay bets in such a way that, on average, he expects to make a profit in the long run. This means that on some occasions bettors can win large amounts of money on combination bets, while on other occasions bookmakers can make considerable profits.
But the real reason is the following:
The odds on the parlay bets are lower than the odds on the outcome of combining the bets individually.
Bookmakers usually set the odds for parlay bets in such a way that they expect to make a profit in the long run. This means that, in general, the odds on parlay bets are usually lower than the odds on the individual bets included in them 😱.
For example, if you place a parlay bet in which you include three individual bets with odds of 2.00, 3.00 and 4.00, the odds of the parlay bet are likely to be slightly less than the multiplication of the individual odds. This is because the bookmaker is taking into account the probability that all these bets will be successful and is setting the odds of the combined bet in such a way that it expects to make a profit in the long run.
It is important to note that the odds on parlay bets can vary significantly depending on the individual bets included in them and the bookmaker at which they are placed.
Combination bets are not valuebets
That’s why we don’t recommend you to place parlay bets. If you are looking for value in sports betting you should place Valuebets manually or automatically. Placing parlay bets allows bookmakers to make more money, and they make money because you lose money, remember that.
If you don’t know what value betting is, take a look at this page where we explain it in detail: Valuebets.
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