You have probably been curious about parlay bets, just like every other sports bettor. Some will offer almost absurd odds, which is the draw of the parlay. The NFL parlay is one of the most common bets at sportsbooks.
Understanding an NFL parlay bet before placing it is the first step to success. From there, gamblers can devise a plan to increase their chances of success.
A parlay bet is a single wager created by combining many other wagers, to put it simply. Bettors can combine as few as two bets and most sportsbooks allow up to 15 or even more different bets in a single parlay. How much you can win in a parlay depends on how many bets you include.
If you simply wager on the Steelers to cover against Baltimore at standard odds of -110, you’ll win $100 if you wager $110. However, combine that bet with the Rams to cover against the Cardinals and you’ll get better odds and a higher payout. That is the beauty of the parlay. The odds are higher since they are harder to win.
The big drawback is that when one leg of a parlay loses, the entire bet is a loser. If you have three-point spread bets combined into an NFL parlay, all three teams must cover. When one doesn’t, the entire bet is a loss.
There are many reasons why people enjoy NFL parlays so much. They add excitement to watching games. They are also fairly simple to understand. Find at least two wagers that you like, combine them into one, and win more money than if you had gambled on each wager separately.
It’s also much more enjoyable when your parlay wins. Turning a $15 parlay into $44,000 or a $1 parlay to win $49,000 is not the norm, but they do happen. That is what draws bettors to parlays.
The payout for a successful two-team parlay would be 13-to-5, according to the widely used NFL parlay pay table. Thus, a $100 stake would result in a return of $260.
If you wager $50 on two NFL games at standard odds of -110, you will collect $90 if you win both bets. If you combine the two into a parlay, your $100 wager turns into $260.
If you follow a few simple guidelines, you can take advantage of parlays without always paying the bookmaker. Parlay no more than three bets at once, and in most circumstances, you might want to stick with two. Your chances of winning significantly decrease when a fourth leg is added.
The number of legs is the one thing you must always consider when placing a parlay wager. Is it worthwhile to add a third leg in order to improve the likelihood of a larger payout? Is the elevated risk worth it?
NFL parlays are fun to play, quick to set up, and might pay out. Parlay betting can be profitable for gamblers who have solid bankroll management techniques, a ton of game expertise, and who don’t mind taking a little risk.
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