Parlay Betting

by Tom Wilkinson

Parlay betting is one form of sports gambling that is loved by both bettors and by sportsbooks. Parlays are very popular with bettors, especially in the NFL, but they are absolutely loved by sportsbooks who have a very high hold percentage on them.

Parlay betting is definitely the most popular in the NFL, due in large part to the NFL being such a public sport, but they are gaining popularity in college football and in baseball as well. Sportsbooks love parlays for the most part, but baseball parlays are not one of their favorite things because bettors have been known to hit some big scores over the years on large multiple team parlays. Baseball parlays also don’t give the sportsbooks the huge edge that they enjoy in other sports because there is no point spread involved, and the payouts are based on money line prices. Football parlays are where sportsbooks hold a huge edge over the players and the number one reason for this is that most football bettors, especially NFL bettors, are so-called “squares.”

Whenever we talk about parlay betting most professional gamblers will inevitably turn their head and ask why would anyone bet parlays. It used to be that betting parlays would usually lead you to the poor house, but selectively playing parlays can be profitable, and that will always keep bettors coming back for more. The biggest reason that people play parlays is that you can win a lot of money for a very little investment. That always will appeal to the general betting public that loves to bet, but doesn’t like to risk a lot of money. Parlays will remain popular just for that fact alone. Some people like parlays simply for the fact that they can combine college and pro football onto a single parlay. If they can win a couple of games on Saturday it keeps them in action on Sunday or into Monday.

Betting parlays in NBA and Major League baseball are definitely not as popular as they are in football, but they still hold an interest for the casual fan that does not want to risk much money but still wants action. Parlays will always be popular because they give the sports gambler a lot of action for very little money. This also appeals to the sportsbooks because they know how hard it is to hit parlays and the payoffs never will make up for the actual odds of hitting a parlay.

Betting parlays will always be very important to both sportsbooks and bettors. It is nice to be able to say that both opposing sides actually agree on something for a change.