The world of sports betting can be complex, especially to newcomers in gambling. There are a lot of different jargon that can sound as if they are gobbledegook if you do not understand them. One such piece of jargon used across the industry is a parlay. Those who are not experienced in sports betting can be forgiven for not understanding what this type of bet is. Never fear, though, as this guide will tell you all you need to know about parlays in sports betting.
What Is A Parlay Bet?
Put simply, a parlay refers to a bet that includes more than one wager, combined for a bigger bet. For example, it could be on two matches in the Premier League if the player is a football fan. Alternatively, various tennis players could be included in a parlay bet to win their matches. In other parts of the world, the parlay bet is known as an accumulator. However, it means exactly the same thing. It just refers to a bet that has multiple legs included. All of them need to be winning wagers if the parlay is to be successful.
Parlay bets are popular as they give players a chance to boost their odds. As an outcome from a larger price for the wager, resulting in a better potential for bettors to win a lot more money from a parlay than a single bet. However, the flip side of this is that parlay bets are harder to win. After all, there is more opportunity for the bet to go wrong as there are more teams or players included in the bet. With sport being unpredictable – one of the many reasons why we love it so much – parlay bets can be risky. There is no doubt that parlay bets are a lot of fun, though, ramping up the excitement throughout the day as the results from the action start to come in.
How Do The Odds Work For a Parlay Bet?
Across various types of sport, odds on an event can move by a substantial amount. For example, if a team in a football match is without their star player due to an injury sustained close to the game, their odds might be lengthened by sports betting sites. However, once a parlay bet has been placed, the odds do not move. The price given out for the parlay bet will remain the same, no matter what happens between the wager being placed and the matches included in the bet getting under way. Betting sites work out their parlay bet odds in many ways, but they usually provide value that is appealing to sport fans, no matter which matches are on the schedule.
Types Of Parlay Bet
There are a couple of types of parlay bet that can be placed by sports betting fans. The first is a round robin parlay, while the second is known in the industry as a teaser. In a round robin parlay, multiple parlay bets are placed at the same time. These are essentially just a simple way to place multiple parlay bets. In a teaser type of parlay bet, the bettor has the chance to select multiple teams or totals in the wager. The key difference is that moneyline bets are not allowed to be included in a teaser. Sports betting fans can decide for themselves if a teaser or a round robin parlay is best to pick.