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The Risks And Rewards Of Parlay Betting
Wed 12 Jul, by Kolade Daniel

Understanding The Pros And Cons Of Parlay Betting

Parlay betting is recommended only for bettors who have experience since it’s high risk and high reward, and your entire bankroll can be gone if you don’t know your next steps. To help you understand the world of betting, here are parlay betting’s pros and cons and explain what exactly parlay betting is.

What Is Parlay Betting?

Parlay betting is when you tie two or more bets into one bet. Those are accumulator bets, as they accumulate winnings. If you have multiple chances and all of them hit, you will have a much bigger payout than if you played every single one separately. But, this all comes at a disadvantage: if one bet loses, they lose everything.

Risks Of Parlay Betting

Here are the top three most significant risks and downsides of parlay betting:

Too Many Teams

If you bet on a parlay with 12 teams with average odds of 2.00, you only need 12 units to win, and you are a millionaire. Well, yes, but no. With more matches you have, there are lower chances to win. We recommend keeping your parlays small with two to three matches max, as you are more likely to win those than a 12-leg parlay.

Too Much Money

The biggest reward of parlay betting is the payout, but still, people make mistakes and bet a lot of money on parlays. That is a lot of risk, as parlays are very hard to hit anyway, and they have a big payout. Don’t force anything, as the odds are already against you.

It Only Takes One

Now, this type of betting is tricky for this reason. Only one losing match, and you are out. To win big, this is something you need to keep in mind. That’s why we advise you to keep the number of teams low and the small amount you place on a bet.

The Reward Of Parlay Betting

These are the top three rewards and benefits of parlay betting:

Easy To Hedge

Hedging a parlay bet is a great way to save a few bucks or win even more. For example, if you have three games in your conversation, you place three individual bets on those games. If all three games win, you win a lot of money. If one of the three falls short and you lose your parlay, those two still pass, losing less money. So hedging is necessary if you plan on betting on parlays instead of single bets.

Easy To Add On

There are games to bet on daily and new favorites in matches. But playing on a choice in a single bet isn’t logical and doesn’t bring any excitement. It’s only 1.30 odds or so. But, in a parlay with three to four favorites, it’s something, and you still can win some decent money.

Big Payouts

Parlay betting is famous for its big payouts, and that’s because of the compounding interest. Every odd is multiplied by each other. So, a few dollars can go a very, very long way without the need for big bets.

Closing Thoughts

As we already stated, parlay betting is for more experienced bettors. If you are a rookie bettor, we recommend playing one to two matches per bet and researching. Then, you could start betting on parlays when you have a feel for games.

 



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