WHAT IS A PARLAY IN SPORTS BETTING? DEFINITION, EXAMPLES

A parlay is a bet which is placed together to win a wager. It offers the potential of maximum payouts as compared to any other bets. But parlay bets are different from other bets, as they involve placing a bet on more than two events. To successfully win the bet, all the bets placed by the gambler should be successful. If only one bet is also lost, then the whole bet placed shall be considered to be lost. Parlay bets are a unique type of bet which requires aggressive planning and higher payouts. Winning chances in a parlay bet are very low compared to others. Thus, Parlay bets promise a high payout ratio with a very low winning probability. Sportsbook shall increase the payout ratio with an increase in the number of bets placed in an event.

HOW TO MAKE A PARLAY BET?

The process of making a parlay bet is quite simple at a sportsbook. Draft Kings is perceived as the best betting app for parlay bets.

1] The process includes navigating your desired event.

2] Selection of two or more games.

3] Move your bet slip towards the right and click parlay.

4] The bet amount should be entered and submitted.

SHOULD YOU BET PARLAYS?

In the sense of mathematics, it is not advisable to make parlay bets. Due to the low winning ratios, it creates uncertainty. As a result, the odds are always against the bettor, especially when placing bets on a platform like Sbobet88.

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CALCULATING PAYOUTS

Calculation of parlay bets is tricky, as it involves the understanding of the odds expressed in the sportsbook. But nowadays, any sportsbook will calculate the payouts. Most of the gamblers only rely on the calculation done by the sportsbook. If a gambler wants to calculate his payout, then he can follow the steps given below:

1] Conversion of American odds to decimal odds.

2] Multiplication of the decimal odds together.

3] Multiplication of the result by the bet amount placed by you.

4] Subtraction of the amount placed on the original stake by the parlay odds.

WHAT HAPPENS TO MY PARLAY BET IN A CANCELLED GAME?

The sportsbook will certainly have policies regarding refund for a cancelled game. In most of cases, cancelled games might go from three-game parlay to two-game parlay.

CONCLUSION

Parlay bets are a different type of bet as it requires a gambler to place a bet on above two events. It offers various opportunities to a gambler to win high payouts from a bet. But, the negative aspect of parlay bets are that it has very low chances of winning a bet.