Parlay bets are one of the most common and exciting sports wager types. They work similarly to accumulators. Parlay betting involves placing a single bet on two or more selections in which all of them have to win in order for your bet to be successful. The fact that this is a multi-bet means that the payout for the sports parlay betting system is higher. When done correctly, parlay bets can be very profitable to Canadian bettors. This is why many bettors are attracted to the parlay system.
In this guide, we cover everything about the parlay bet, how it works and then give you tips on how to win parlays. Our experts have also included top-rated Canadian sites for parlays. This is the best parlay guide for beginner bettors looking to make a profit gambling online. Veteran bettors will also learn a thing or two, especially in our tips section. Start learning below!
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WHAT IS A PARLAY IN BETTING? PARLAY BETTING EXPLAINED
A parley bet refers to a multi-bet, as already mentioned. Parlay bets involve making a selection of sports picks on a single ticket. You win if all your selections are correct. You lose if one or more of the bets lose.
Apart from the standard bet, parlays have two particular types; teasers and pleasers. A teaser parlay bet is where players can move the totals line or point spread in their favour for each selection. Usually, teasers allow bettors to move their lines by 6 points. More so, this type of parlay has lower odds as winning is easier.
However, a pleaser is the opposite of a teaser in that players move lines in the opposite direction. Although pleasers are not as popular as teasers, they have larger odds – sometimes way more than standard parlay.
HOW PARLAY PAYOUT ODDS ARE CALCULATED
Parlays are calculated differently at each sportsbook. Usually, a standard parlay payout for a two-team is 2.6 to 1. More so, parlays have a “push” condition attached to them when a tie or draw happens. For instance, if you wager five kinds of wagers and one pushes, it will be removed from the parlay bet. So, this will not form part of the parlay payout if you win your bet. Instead, you will get a smaller payout.
PARLAY BETTING TIPS – HOW TO WIN PARLAYS
Parlays are very easy to win, especially if you are wagering on teams that you are familiar with. Most importantly, you need to do as much research as you can, study the recent form of teams and current standings. This will enable you to make informed bets. More so, you will also need to check for injuries – if certain star players are injured or have been transferred. We both know that certain teams don’t perform well when certain players are not there, don’t we?!
More Betting Strategies:
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- Bracket Predictions Explained
- Halftime Betting Strategy
- Strategy for Betting Totals
- Moneyline vs Point Spread Betting