You can place parlay bets when you have predicted that two or more teams will win. Many US players love this type of wager because the payout is more substantial than other bets. The misconception is that parley bets are easier because you get to predict more than one team winning. However, that can be further from the truth. Our experts believe that parlay bets are even difficult to place because you have to predict that more than one team will win. The trick is to guess which team will win correctly.
Sportsbooks love parley bets because they are challenging to win. But that does not mean that you cannot win when you have placed the parlay bet. There are different types of parley bets that you can place. You don’t have to be restricted to one thing. If you want to know the different kinds of parley bets and how to place them, then you’d better read on.
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Placing a Parley Wager
There are two distinct ways that you can place a parlay bet. The first way is by indicating to the sportsbook which team you think will win. You will also have to tell the sportsbook the total score of the games as well as how much you are willing to wager. The other option is to fill out a form from the sportsbook and submit that form.
Some sportsbooks will also offer different platforms to place the parlay bet. You will find that you can place the bet using your mobile device or a desktop.
Types of Parlay Bets
There are different ways that you can place the parlay bet. You don’t have to stick to one form of betting. Here are the different wagers that you can place within the parley bet:
- Over/under: These are bets that are made based on the total number of points that will be scored during a game by both the teams. The oddsmakers will set the line. This is the number you will be basing your prediction off. Once the line has been set, you can then make your prediction of whether you think the total score will be over or under the line.
- Points Spread: You will hear other bettors talking about the spread, this is the parley bet that is referring to. The spread equalizes the playing field between the teams. This is done by taking points from the team that is most-loved and giving them to the underdog. The favoured team will be represented with a negative (-) sign on the board while the underdog will be represented by a positive sign (+). The number of points the underdog gets is purely dependant on how mismatched both the teams are.
- Teasers: This bet allows you to move the point spread in a manner that is most beneficial to you. The teaser bet improves your odds of winning. But you have to keep in mind that the bet does not have the best payout when you compare it to other bets.
With the teaser bet you can add or subtract bets to the board depending on what your bet will be.
- Moneyline: The spread is not involved in this bet. With this bet, all that you have to predict is who will be the winner or the loser of a particular game. If you bet on the favoured team, you have to know that the payout is less than betting on the underdog. You can choose to mix a point spread bet with a money line bet if you prefer.
Winning a Parlay Bet
There are only two ways that you can win a parlay bet. The parlay bet can only succeed if none of the sides that you have chosen loses. The other way that a parlay can win is if the game was cancelled or the result was a tie. However, you are going to be paid less if such events occur. For example, let’s say you are betting on baseball and the parlay is for four teams if three of the teams win and one of the games is cancelled due to adverse weather conditions then the bettor will receive a payout.