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Are Sports
Betting Parlays Profitable?
Betting football sports betting parlays are very popular among sports
gamblers, especially when it comes to the NFL. Let’s review the
basics for a moment. A parlay offers a way to link together a number
of individual wagers. The sports betting parlay bet wins if every one
of the individual wagers wins. If any single wager loses, the entire
parlay bet is lost. If any single wager is a tie or what is called a
push, the sports betting parlay bet is still good, but it just drops
down to the next level.
The main reason people bet a parlay is to get higher payouts. Since
each part of the parlay must win in order to collect, the payouts are
higher, but they are also more difficult to hit. Here is an example
of a typical NFL four team parlay. You like New England -7, Pittsburgh
-4, Philadelphia -7, and Washington -3. You bet the parlay for $100.
If all four of your teams win and cover the spread you payout will be
approximately 10-1. That means you get your $100 back and win $1000.
If just one of your four selections is a loser the parlay is a loss
and you get nothing. Here are some typical odds for football sports
betting parlays.
# of Teams |
Odds |
# of Teams |
Odds |
2
|
13 to 5 |
9 |
150 to 1 |
3
|
6 to 1 |
10 |
300 to 1 |
4 |
10 to 1
|
11 |
450 to 1 |
5 |
20 to 1
|
12 |
600 to 1 |
6 |
40 to 1
|
13 |
750 to 1 |
7
|
75 to 1 |
14 |
900 to 1 |
8 |
100 to 1 |
15 |
1500 to 1 |
Sports betting parlays are not easy to hit. I know that you hear all
the stories of how gamblers make tons of money getting lucky and hitting
a big parlay. For the most part that is pure fallacy. Sports betting
parlays are winners for the sportsbooks, not the bettors. I am not saying
that it is not enjoyable to play one from time to time; it is, just
not as a moneymaking proposition.
Sportsbooks love sports betting parlays because their hold percentage
is higher than on straight bets. That right there should tell you that
sports betting parlays are a losing proposition. Some gamblers have
had success from time to time betting sports betting parlays, but rarely
does it last. The odds are just too far stacked against you.
From a professional betting point, you are better off making straight
wagers. Making the occasional parlay is fun though, and it is something
that everyone has done from time to time. Just don’t make it one
of your main moneymaking propositions.
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