Below, in our multiple bets guide, we go through the two major multiple bets you can make parlays and teasers. We explore the advantages of each. As a preface, you should know that parlays and teasers have something fundamental in common. They both require you to win each part of your bet to cash. A parlay is simply a bet where you make multiple picks and, if every single one is correct, you win. If even one pick is incorrect, you get nothing. Parlays can contain anywhere from two to 12 selections.
As you can imagine, the payouts get substantially greater the more selections you add. Things like NFL picks and parlays are very popular and bettors can go big on these types of wagers, so be sure you know that limit before you add a 12th team and start losing units!
Your potential parlay payout is easiest to calculate using decimal odds. Just multiply the odds of each selection together, then multiply that by your wager. Say you liked Golden State at 1. A variety of other bets that can be included in a parlay bet: moneylines, game totals, bets against the spread. Parlay odds are great if you make multiple selections, with huge potential payouts! At almost all sportsbooks, if an ATS pick or game total pushes i.
That game will just be removed from the parlay. So, a three-team bet would become a two-team bet. Not only can parlays involve different types of bets, but they can also cross sports, as well. This allows you to combine anything from football to hockey. Most events can be parlayed. In the U. Like a parlay, a teaser bet combines multiple selections in a single bet.
But, teasers can only include picks against the spread and game totals, and you will be able to adjust the spread for each game you pick. As with a parlay, if every team covers the new spread, you win the bet. If even one fails, you get nothing. There are other restrictions on teasers, as well.
They are only available for football and basketball, and the payouts are predetermined based on how many teams are involved and how many points you move the spread by. In football, you can tease the spread by 6, 6. The bet would cash if New England won by at least five and Tennessee lost by three or fewer. As mentioned, you can also tease a game total. In order to calculate the payout of this parlay, one must multiply out the payout for all games.
The following is an example of a traditional Las Vegas Parlay Card at William Hill Sports Book, which shows the typical payouts for an up to 10 team parlay bet based on Many gamblers have mixed feelings as to whether or not parlays are a wise play. The best way to analyze if they are profitable in the long term is by calculating the expected value. Since the probability of all possible events will add up to 1 this can also be looked at as the weighted average of the event.
The table below represents odds. In this case a parlay has a much higher expected value than individual bets with greatly increased variance in outcomes. From Wikipedia, the free encyclopedia. Not to be confused with Parley. This article has multiple issues. Please help improve it or discuss these issues on the talk page. Learn how and when to remove these template messages.
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Find where to bet in your state! See Sportsbooks. Sports Betting. Betting Tools. In case any of your picks are not correct, then your wager ends up being a loser. Keep in mind that these wagers are much harder to win than single bets, but their potential returns are higher. Just like any other types of wagers like when you bet on football , football parlays come in different attractive forms; with some have juicier rewards than others.
The most common and perhaps the most rewarding types of football parlays are the Round Robin parlays and Teasers. These Round Robin wagers are fundamentally the method used by players to stake several parlays. Now, pick anywhere from teams or totals to be in the Round Robin. Then, pick how many teams or totals you want to combine for the Round Robin.
For instance, you could pick 8 teams and totals, then combine the parlays to as many 3-team combos as possible. The team combination is what is going to determine the number of different parlays you are supposed to have.
Are you getting the gist of it all? However, you must also bear in mind that the ticket will cost the amount of cash chosen for each parlay. The earns for each winner parlay wager is similar if you had placed these wagers individually. A teaser is similar to traditional football parlays where you are allowed to pick several teams or totals. Even so, there are no money lines allowed with a teaser. Unlike standard football parlays, you are allowed to move each point spread or total with a couple of extra points or with a deduction of a few points.
As a result, these wagers are easier to win even though they pay less than a traditional parlay. As long as you make the right predictions, you have plenty of room to rake in some substantial goodies with this type of wager. There are two ways to place football parlay bets, and both are quite simple. Bear in mind that you can also fill out a parlay card either online or on a designated Kiosk. Once you or the ticket writer has filled the card, you are supposed to visit the sportsbook desk to place the bet.
In the case of an online platform, the process is as simple as clicking a button. As attractive as they sound, the number one thing you need to know about parlays is that they are not wagers that should be placed consistently basis. Use them sparingly and only under the right circumstances.
Know how to identify good parlays and uncover how to read football odds. While the large payout potentials may be appealing, avoid chasing those payouts just for the sake of it. Not only is this approach bad, but it will also almost certainly cost you money in the long haul.
Only place wagers that set you up for the highest chances of winning. However, there is one general rule that you should try to stick to. Essentially, this is the key to betting football parlays effectively. Instead, the objective is often to find the bets that bring you the most positive expected value. Therefore, the only way to make consistent and regular profits is to identify value in the betting markets.
And of course, you would want to maximize that value as best as you can. In that sense, parlays can be a great way to do this only under the right circumstances. Still, on the question of betting football parlays and the right timing, you have to do your quick math before making your move quickly. For instance, if you want to multiply the value of parlays exponentially, you have to identify value in more than one selection. You would also want to combine those selections into a single wager.
However, when you do win, your overall returns are boosted remarkably. Also, picks that offer value as standalone wagers do not automatically offer better value when you combine them into multiple wagers. The thing with parlay betting is that it is just not as straightforward as many players assume. You have to choose your spots very carefully. If you are not sure whether the best option is to place a parlay or single wagers, then try and stick to the single wagers.
When you decide to moneyline odds for parlay betting, the bets will be relative to the odds of each of your selections within that parlay. In this case, your odds will go up if you pick several underdogs, but your odds will be lower if you decide to select the big favorites. This makes moneyline parlays a great option for an annual trip to Vegas, where the idea is to go big or go home. However, parlay betting for people who take their sports seriously may not be a reasonable betting strategy since they are too high risk.
There are two instances when football parlays can be winning bets. The first case is obvious; when neither of the sides, moneylines or totals picked is a loser. The other case where a parlay wager can still be considered a winner is in case of a tie or a game is canceled. Like any other types of wagers, not all parlay payouts are the same.
Sports betting sites could have varying odds for the selection of events that are picked in a parlay. This ends up being quite confusing when looking at games that have varying odds and payouts for the same parlay. Moreover, the said odds could be changing at any time, and so, you must confirm before placing your parlay wager. Payouts for a parlay are fixed by the time the bet is placed. While the odds and lines for a given game could change, the parlay odds and lines will not be altered by the house after you place the wager.
In case the lines change in your favor as you bet, you can place another parlay wager with the fresh line.
As with a parlay, if every team covers the new spread, you win the bet. If even one fails, you get nothing. There are other restrictions on teasers, as well. They are only available for football and basketball, and the payouts are predetermined based on how many teams are involved and how many points you move the spread by.
In football, you can tease the spread by 6, 6. The bet would cash if New England won by at least five and Tennessee lost by three or fewer. As mentioned, you can also tease a game total. Any final score that amounts to less than For NBA teasers, the options are 4, 4. At most books, the maximum teams you can include in a teaser is As mentioned, with both sports, the payouts are predetermined based on the number of teams and the size of the spread adjustment.
Similar to a parlay, if you push in a teaser, that result will be removed and a three-team tease would become a two-team tease. However, if a push occurs on a two-team tease, the overall bet just becomes a push.
Unlike regular teasers, these generously large teasers will result in a loss if any game pushes. This betting market provides a fast way to play multiple, smaller parlays. But, specifically, what is a round robin bet? In this instance, you can bet either a two or three-way round robin. A two-way round robin would package your four teams into a series of six, two-team parlays, i.
And a three-way round robin would package your four teams into a series of four, three-team parlays, i. There are benefits to both approaches. Further, the potential payout if all of these three-team parlays win is much higher than if all of the two-way parlays hit. A two-way requires you to put money on more options but helps mitigate risk, regardless of whether lines are moving or not.
Round robins can include as many as eight teams, and a maximum of six-way parlays. But be careful when you are placing your round robin wager. When you fill out the risk amount, that number will be multiplied by however many bets there are in the round robin.
If any aspect of online sports betting remains a point of confusion for you, do take a look at our guide for betting sites basics , which will provide readers with foundations of the industry, betting vocabulary and guides you to making your first wager online!
We cover parlays, teasers, and round-robin bets. What happens if there's a "push," or tie? Read on to find out. Read Review. This article has multiple issues. Please help improve it or discuss these issues on the talk page. Learn how and when to remove these template messages.
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