What is Parlay Betting?
Parlay betting, also known as combo betting, is a type of wager where players combine multiple selections on the same betting ticket. If all those predictions are correct, you'll be the winner.
Currently, parlay betting is considered the most popular form of betting and gambling.
The advantage of parlay betting is that you don't have to risk much money, but if you win, you'll receive a significantly higher payout. However, because this form of betting involves combining multiple selections, it carries a high risk for players. If you lose the bet, you'll lose the entire amount you wagered.
This type of betting is a "win-win" scenario—if you're willing to take the risk and place large bets, you have the chance to win a substantial amount of money. However, achieving success in parlay betting is not easy. Parlay bettors need to have a deep understanding of the betting field and considerable experience in online betting.
>> See more: Top 10 best football predictions app for 2024
Considerations when placing parlay bets
When placing parlay bets, there are several things to keep in mind to ensure the highest chance of winning. Here they are:
When deciding to place a parlay bet, players cannot wager on other markets within the same match. However, players can also participate in betting on other sports besides football, such as volleyball or basketball, to accumulate experience in betting.
When placing bets, it's advisable not to place bets on excessively long parlays. It's best to stick to 2-4 legs for a suitable parlay.
In addition to the main parlay legs, each player will receive 3 extra legs, allowing players to select additional legs created from the chosen markets.
To increase the winning rate and make the most informed decisions when betting, players should thoroughly research the team they want to bet on and accumulate more experience in online betting.
For newcomers to the game, it's best not to take too many risks by analyzing various matches but rather focus on betting on one match. The more matches involved, the more challenging parlay betting becomes.
Guide to effective parlay betting calculation
Parlay betting is a highly appealing form of wagering due to the potentially large payouts it offers. If you diligently learn and accumulate experience, you have a good chance of winning.
Guide to placing parlay bets when winning all bets
If you win all individual bets, calculating the parlay bet is straightforward. The parlay odds are equal to the product of the individual bet odds. Read more: The top 10 which website is 100% accurate for football predictions?
The formula applied for this case is:
Parlay odds=Odds 1 x Odds 2 x ... X Odds n
Here's a detailed example of how to calculate parlay odds when winning all individual bets:
Example: You choose a 3-leg parlay including Manchester United @ 1.88, Liverpool @ 1.6, and Real Madrid @ 1.33.
So, according to the probability formula for winning the parlay:
Parlay 3=1.88 x 1.6 x 1.33=4.000064
If you wager 300,000 VND, your winnings would be calculated as follows:
4.000064 x 300,000=800,128 VND
How to calculate parlay bets when there are draw/win/lose results
Calculating parlay bets becomes slightly more complex if you win half or lose half of the money due to a draw.
Winning a parlay bet is still calculated by multiplying with the parlay odds, but there are some basic considerations to note.
If there's a draw/cancelled result: the odds will be replaced with 1.
Win ½ Odds: Adjusted by [1+ (Odds – 1) / 2]
Lose ½ Odds: The odds are replaced with ½.
So, we have the general formula as follows:
Parlay odds=Probability of winning x (1+ (Odds ½ - 1) / 2) x 1/2 (If betting loses half) x 1 (If betting draws)
In summary, regardless of the odds, you'll have a high chance of winning because it demands careful calculation and calm judgment based on accumulated best home teams to win today and betting experience. Hopefully, this article will help bolster your confidence in your passion for betting by accumulating more useful information about parlay betting.