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I've won some good amount with paylay in sports betting in the past but when I start doing it in a regular basis, it seems my overall return is negative.
So my question, do you bet on parlay and why?, and what's the biggest odds you've won so far?

Many gamblers are attracted by parlays because they offer bigger odds compared to single bets.They are also a lot more difficult to win compard with single games so I only rarely play a parlay,only after I have won some money from my other bettings.

I don't see it as a good strategy for betting because with that you lose money faster and more often compared to single betting.

Well, I highly believe that there is no such Strategy in gambling even if you are consistent in winning Parlays because even though you are dependent on winning on all that wagers together there are times that if you would lose any of the bets in a parlay the entire parlay may lose, Well you must have your luck that time and gain the upper hand but you can not control that, Because you may have your luck today what about the other day? But I guess inconsistent with that in losing the advantage is you will just need a little bit of money to bet it all, That is why Parlay is popular because you can win big if all Parlay win,

So I don't really think that there is a good strategy in gambling it is still all base with luck.

I made parlay too but not so often. It is when I found games that I think will give a win result but the bookies give low odds. Instead of making a single bet on each games, I prefer to combine it into a parlay to get better odds. I don't force myself to make a long list of game inside my parlay unless it is for contest. 3-5 games will be enough for me.

I remember my almost biggest win with parlay back in the past when I participate on a contest held by a sportsbook. I made a parlay with 11 games in it. The odds was around 50.00. Ten games already gave me greens and left only a single game for me to win the parlay. It was an EPL game between MU vs underdog (can't remember the team name). Unfortunately, MU unable to win the game which give me a regret. The end result was a draw with no goal. Something that made me upset is,  Wayne Rooney failed to make a goal from a penalty kick!

I don't bet on a parlay, but sometimes I use the money to join with my friends, and he will place the bets for us. But I think for me, it is better to play individual bets than parlay because if we don't have match friends, sometimes it becomes screw, and there will be a bad moment between us. But parlay could be a good strategy for you to raise bigger win money because your wager will be bigger too.

Well, parlay bet is not recommended to me. I believed that parlay bets are base on games skill, that's the reason why for me this is not recommended because of an increase variance and high risk. The fact is the house has a greater edge with Parlay bets rather than the single-game bets. Indeed, gamblers tempted to bet with parlay because of having better rewards but the truth is far appeared by the increase in risk.
Well, I rather choose single bets wagers because you might defend on luck.

I don't want to bet on parlay because I don't believe on strategy on sports betting, I just study the team and decide whether to bet or not, again I depend more on my luck than to any strategy. The reason why you are still losing is that, no strategies can win over the house, they can't let you go home and bring huge money continuously you have to be wise always and don't be greedy.

For me,winning a parlay is like winning the lottery.The odds are really small. ;D
I'm not a gambler that loves extreme risk and really small chances of winning,so I don't use parlays.
Parlay is NOT an effective strategy.It's not even a strategy.It's just another way for the bookies to squeeze out more money form the gambling addicts.

Parlay is good as you'll risk only a small amount of money with a possible to win big.

In parlay betting you can have an odds of x1000 and that will give you a pretty decent return if you are lucky.
However, for me it's not a good method if you use it regularly since it a big return surely means lesser chance of winning.

Parlay is good because it  can give you big winnings but it is too risky as well because if the odds is not inyour favor there is a chance that you will lose everything, and knowing it is gambling so the longer you lay in parlay the harder you'll win so I don't bet parlay.

This says it all, I also play and bet on a parley betting and yet I lose more compare the amount I win, its really a small odds to win so don't expect you to achieve a winning streak with that strategy its not reliable. I'm convinced after using many strategy on betting, poker, roulette all your strategies is useless if you don't have luck, gambling is luck remember that line always because you can't win without that.

It depends on the game that you are trying to play. I have seen the best parlay win in Sportsbet.io IIRC, it’s a bet of 0.005 BTC in 10 games I think, then it’s football and he managed to get the right bets and won 8 BTC with that. The multiplier is so high and he is definitely a lucky man towards it. It’s like wtf and I verified it and saw it.

I think it would be dependent on the odds of the games itself. I have yet to prove myself that I could win a parlay with a lot of games with the lowest odds (meaning the highest chance to win the actual game) but it would really be hard to predict, maybe an underdog could win a game and you wouldn’t expect it still.

Mostly of it would be dependent on the luck on that certain day.

Parlay was effective to increase the odds for bets on sport betting because you can combine the odds for every matches events but it will not guarantee you will always won during use this strategy and i have been experience bets on parlay and the results is not really good and picked matches for parlay is risky because if one or two matches from your parlay lost then you also will automatically lost all of your bets

Parlay is pure luck, you need to have a great day when all odds are in your favor and you don't lose a single bet. I had some great wins in parlay some time back when everything was predictable but just like yours, my EV turned negative after I tried to catch bigger and better odds 'as parlay adds up very high odds considering the number of games you take in one bet'. After I saw someone win more than 50 BTC on NitrogenSports (with just a 0.01 BTC bet) I thought if he can, why can't I do this? I tried this with 0.05 BTC when BTC was $3800 but I lost because of just 1 loss in a game I used to call myself a master of.

That could really happen, but I only see that kind of bet slip shared in Nitrogensports, not in sportsbet as they don't have a chat room.

We call it acca.
Well the most tempted gambling habit for me. I have lost a lot of money in acca's. Was very close to a lot of them but always find myself losing one or two selection no matter if this is a 5 selection or 15 selection however the best bet was an 8 selection which I won 5 or 6 years ago.

If I recall then the bet amount was £20 and return was £800+ or something.

Bookies nightmare LOL

This is also my thought on parlay. Since it is much risky, but it is much better to bet a small amount since the odds is quite tricky. It's like a leveraged trading where you can bet with high returns but the risk is really big.

Even you have big odds/small odds on Parlay, there's a still possibility of losing because it's like you are just increasing your risk by doing multiple games to bet.

It's good if it's in right time + luck + guts
Some of them may loss because even they are great team , they can experience losses ,right ?
Parlay is another way of people to gamble , not the exact strategy to make profit

This remind me on 2 years ago when i almost did parlay everyday. I was bet on parlay with odds 1000x in a month but never got lucky. The highest odds i've won only with 7x odds, not so big though

I cant really deny that Parlays do have an attractive odds most of the time but I do mostly bet on 3-4 games and not going

more than with that.I do seldom make bets basing on the line not just carelessly putting up bets without significant basis on the
teams are playing.Doing it on daily basis doesn't mean negative because it all depends on how you do analyze on putting up your bet.

Higher risk but also higher reward. I've had a few parlay wins in the past but most of the time you're going to lose with parlay betting, though the wins you do get are going to be greater. Due to the higher risk I really don't parlay bet anymore though; I do know a few people that almost only parlay bet, but it's not for me. It sure can be effective if you work at it and develop a good way of placing the bets though.

I didn’t say it isn’t doable but it could be done in my opinion. It’s just that you either have knowledge on the sport you are betting with or you are just really a lucky guy.

I don’t really remember the site that bet occurred on but I know that it is a gambling site (obviously). Multiplying your money by that requires luck in my opinion.

I think it's more on luck, let' say you have 10 legged parlay in your bet with a fix odds of 1.90, that would result to 613.106 multiplier, and betting 0.01 btc will turn you money into 6.1310 BTC. That's a huge winning right, but to win all 10 is very hard as even if you are en expert, no way you can be perfect.

I call this accumulator or combo bet, but name is not so important if we know what is it exactly about. In this type of betting chances are going down for player with each new event, but player need to pick something that is easier to guess then only who will win, or to pick lower odds with high stake.

I always try to reduce the risk of loss by betting on max 3 games, and always pick in a way 2+1, means that 2 games are today, and 1 is the following day.  By such playing I always have chance to cover my bank by betting on opposite outcome (in case I win first two games). For example if I play Real Madrid - Getafe 1, I can bet on x2 which always have big odds and I am in win-win situation.

But this is way of betting which requires slightly higher amounts of money, lower odds and big stakes with max 3 events combined can be good strategy on long run.

I'm doing parlay in sports betting but I always bet on high odds just to make a higher profit because it makes me more profit than parlay in low odds that mostly win on the fights or games.

So if you want to make more profit try to bet on high odds it mostly lost but since your strategy is to parlay once you win you can gain more profit if you are doing x2 in every loses.

It is always interesting to make a bet, but in some cases, if you are sure that you are right, then finding an opponent of your opinion is very difficult.  In real life, such situations are often, but not always ends successfully.

Parlay is a good betting strategy if you know about all the games you place on the bet, it is also good strategy to win big amount with just small bet amount. I do like to place parlay bet but not regularly, I prefer to bet on single bet only. My suggestion is that, you should not place too many games on a parlay bet, try to place 2-3 games only but with good odds but obviously you need to be so sure about the game you are taking. What I usually do when I place a parlay bet is that I also bet on every game on the parlay bet with bigger amount of bet. Indeed it is risky but it is my strategy to cover my parlay bet just in case the parlay is lose because of 1 game only.

I'd rather stick with single bets, bets that I know and am confident about. I see parlay as risky and I'd rather get a few small wins every now and then rather than attempting a single big win.

It's also a good idea doing that if you ain't sure about playing this type of gambling it's better to have small profits than trying to make it much higher but the risk also adding up and with one wrong choose your entire bets will ruined.

Play where you think you have a much better chances of winning stop being greedy if you're not comfortable with the games that you are betting in.

NO.
This is not a good strategy.
Here: https://bitcointalk.org/index.php?topic=1234109.0
I tried to explain why. Feel free to ask more questions!

I only play parlay if I know all my bets will win, otherwise, it is better to place single bets. Parlay is attractive because the reward is bigger compared to having single bets but the risk is relatively higher. In some cases though, I am confident on my bets that it will be a waste of opportunity if I do not pack them as parlay. To manage the risk, I only parlay up to 4 bets max.

Nope, I don't. I'd like to stick with my betting style as is betting with every single game.

It's attracting but I know there's an effect that I won't be able to take if ever I lose with that strategy. I've heard of it before and I've heard stories that has good and bad experiences but I chose not to get along if I know that I can't take the risk.

Sad to say i do really have bad experience with parlays specially when you are already 1 game away to win such bet and then loss the last one which is indeed a frustrating thing.
I dont make or consider this as a strategy to bet always on parlays because not all of them would suit out on my knowledge.If you win one time on parlays,dont think that
you would win anytime because you will just mess up your bankroll.

FTFY.  ;D
I have actually witnessed many of those small bettors at nitrogensports making huge returns on their bets as it also needs some great knowledge of the game you are betting on as well as full confidence that whatever you are expecting from your bet will be realized and all games will be met to the goals we want it to. That's how legendary gamblers are made - they can call parlay a savior when they need extra odds for bets they are very sure about their wins.

I am pretty sure sportsbook already anticipated that possibility, so they are not surprised anymore, nitrogen is a big sportsbook, I'm sure they can pay that since they are earning a lot of money from big bettors who even trust them betting with over 1 BTC in a single bet.

We will really have good time being active in the chat as bettors would share winning picks with big amount, and we can also follow bets, I also see before some people sharing their parlay bets.

doing parlays is really bad , everytime you make a parlay bet you are just giving your bookie extra money ( it's a fact that bookies adore people that bet parlays )
I don't know a single professional gambler who is making his profits from betting parlays , unless a couple of doubles or trebles that involve underdogs occasionally

also it parlay rules aren't the same in all the bookies , so bookies add more juice to selections when you decide to combine them in a parlay
it's worth researching it through google and reddit since you won't get a true answer here ( majority here aren't even serious bettors )

but the short answer : no they suck and in the long run even if you are doing good selections you would be doing better betting singles and reducing the variance as well

Same here  . I'm also sticking on my own made up strategy because this has Makes me more confident than trying others strategy .


That simply means that you are not yet ready to try a different strategy  or you can't just accept your defeats  .


Same here .  I've heard parlays before but I mostly heard negative feedbacks from it so I decide to not continue trying it  .

I read this kind explanation from some people and I really believe on that.
I do parlay but not on my regular betting which I could use a decent amount of money, let's say the amount I use per bet is 100 usd in flat betting, I could only spend a little extra which is 10 usd for a parlay bet, so if I lose that, I would not hurt that much like my regular per bet.

I agree, I never tried parlay when I am seriously trying to win and improve my balances. Parlay is for times when I am running on fumes and I must take a high risk to either make it or break it. 7 out of 10 times I lose but those 3 times when I won, I was able to keep playing for few more hours and improve my balances by a lot.

The fact that you do not know anyone who make profit from such way of betting, does not mean that such people do not exist. Some data say that 97% of all sport betting is go in favor of bookies, so whatever strategy you pick for most of players will end with loss.

I can only say that I play combo bets in past, but I have strategy and I invest lot of time in that. I always end with profit, and sometimes my % of wins go up to 80%. I am talking here about long-term profits during few years, but as I say before to get some results from sport betting you need money, strategy, serious approach and some luck.

What is true answer for you? Some magic formula how to bet and win in most cases? Most people consider sport betting as fun, and they fail on first step. When I bet on some team, I know what they are eat for breakfast, and what they dream last night (figuratively speaking).

I'm of the same mindset and would always go for a single bet instead of parlays. The only time I might consider chaining multiple bets together is when there is little left in my bankroll and it's not worth taking on one game only. So, I'd throw a hail mary here and there but the thing is I ain't no Aaron Rodgers, this shit never connects. ;D

Parley is not even any betting "strategy" - the title of this thread is a wrong statement. Parley is just another method to market their bets to overconfident players.

Casinos want their players to becomes overzealous and greedy because these emotions make our logical thinking to get blunted and thus the player makes a wrong bet to lose their money - losing a single in a parley means a drastic loss. Anyway it is something that people like and so the casinos allow it and also because the casino profits from it. People should figure this out themselves that the casino will be the winner in the long run.

I would say it is best to continue with the regular betting and avoid being part in something you can't really do. I know that most people would prefer that because I'd the huge reward, but you should also be aware that it is all gambling and your winning is not assured… You can still bet and lose huge amount. So when you're doing something that you're not hundred percent sure about, it's best to take it a step at a time instead of doing something that you are not sure and ending up losing too much to the extent it will affect you. So be very careful… Continue with the easy one.

It's actually Parlay, thread title could be wrong but if OP believes it's his betting strategy, there's nothing we can do.  :P


I would disagree, if I'm confident, I would not do a parlay, I'll just put a decent amount on that bet, parlay bets is more on relying on your luck than on your skills.

Higher risk, higher reward. Yes, I don't think that statement is intended only for the Parlay method, but also with other betting methods and strategies. I am also like you, rarely now to bet because the risk is very high, for now I am looking for good methods and strategies, which produce consistent profits.

Nope. I do parlay when I am confident that my bets are going to win. Single bets do not have any multiplier. But if you do parlay, then your potential winnings will exponentially grow. That is why some gamblers like to make combo bets, they can win big on small bets. You still use your stats and analytics on making the bets and not just relying on luck.

Well, i believe they chose to pick the parlay strategy because they have won bigger compared to other strategies. Some may like to use this strategy some don't simply because this strategy is not for everyone. The same will applies to the other strategies too and all of the strategies have their own advantages and disadvantages. So it's up for the person to choose wherever they are confident about of using any strategy they like.

This is typical of gambling. You win, you get carried away by the excitement, you are tempted to try again, you try again and lose all.

 I guess once you get lucky, you withdraw your win and take a long break unless it's skill-based gambling and you are good at it

it's not just that I don't know anyone who does that , but just doing some research online will make it clear that it's either not good or it's just better to go with singles
also another point , Pinnacle for example adds extra juice when you do parlays which reduces your chances to get a good bet
doubles might be good to avoid limits so sometimes they are useful , but most of the times they aren't really worth it

Only with parlays you can earn big amount with small bet, which i think worth to try. I remember my friend was won 1 btc with 1000x odds in parlay with only 0.001 btc as bet.

I've only considering parlays around a set of odds playing @1.6-@1.8 and when the set of matches is quite worth to put a shot.

In general,  I'm not doing it on a regular basis but instead when I think I can hit those multiple bets on that day. And the fact that not all the times that set of bets are favored based on my own criteria.

Just avoid being caught up on decent overall odds on random matches. It's really attractive but risky.

Parlay isn't a pure betting strategy for me but a form of betting option to take advantage of the low odds.

That high odds produced by multiple low odds is really attempting. Low odds usually came with a high percentage to win that's why parlay is attractive. However, since it's gambling after all, it's difficult to win multiple bets at the same time.

As always, high risk = high rewards.

the answer as to whether parley betting is good or bad

sometimes yes, sometimes no, like all betting. I will try and explain

 team a v team b, both have the same chance
if team  a odds are 2.1  after 8 bets you will have won (1.1) 4 times, and lost (1) 4 times-overall you have won 0.4, that is pretty simple.

now same scenario, but 8 bets where we parlay(double in uk speak), because we parlay and teams have equal chance, only 2 bets will win this time
so the result is  2.1 odds twice=4.41, 2 winning bets out of the 8, but we lose 6 stakes this time, overall a profit 0.82

So we can see a parlay is better than a single.
BUT ONLY BECAUSE WE ARE GETTING BETTING ODDS THAN THE ACTUAL CHANCE OF WINNING.

When the chance of team A winning are even, and bookies offer 1.91, and again on the 2nd parley offer 1.91,  it is opposite, and by parlay, you will just incur bigger losses

So the moral of this, whether parlay or single, you will lose by accepting odds less than actual chance of winning

And the more selections in  a parley the worse it  becomes, for example, 6 team all equal chance 2*2*2*2*2*2*2= odds should be 64
if books are 1.91, instead of 2, they pay only                                                                                                                           48.5

So you can see the more in parley, the less punter recieve than he should.





A funny story from the uk, years ago the biggest national bookmaker came up with brainwave, offer  odds of 2 about a team who were 1.5, but ask punters to bet a 5 team or more parlay
General public all kept betting £2 or £ 5 parlays, but as above because of the above scenario, if they won they were only being paid fair odds

But one day many matches were postponed because of snow, and in the uk it is different, they have many retail shops where  coupons are produced, 3 or 4 days in advance ,containing the weekend matches for people to bet.

Before the bookie could react, people were filling in the coupon with team at odds 2( which should be 1.5), and 4 postponed matches to make the 5 team parlay as per the rules, but the stakes instead of £2 or £5, were £200, or £500

Needlees to say the bet is no longer available.!!!!!!!

I'm used to my betting style and I don't want to change it. I may lose some and win some as long as I'm comfortable with that, it's fine for me.

Exactly, I'm not ready and confident to try other strategy. I can accept defeats but that's just it.

And that's why I don't want to pursue because of that reason too.

I know the risk but higher odds would give more entertainment to me, and by the way, don't worry about the risk as I don't put a decent amount in a parlay bet.

You are correct that the statement is more of a general statement not specific to Parlay, even in simple dice games we are just going in for a risk vs reward game. If you confident about some game you may want to do a parlay with another game, mostly talking about sports betting because that is where I first saw this "method" being offered.

You can have some insider news and use that to your advantage. Thats though luck because for those who dont have such news, its all luck and a number of other environmental factors for that game.

The best method to employ in sports betting is to have discipline with your betting style and your goal should be for long term so you can use your consistency if you have or you can test if you are consistent or not if you are not yet confident with you betting style.

Flat betting is the suggestion of the professional gamblers, setting a minimum and maximum amount per bet should be done properly and with discipline you can do that.

Consistency means you win most of the time, and in order to be profitable in sports, what you have to do is just win over 50%.

It's boring when playing single bet with low odds, I always play parlay when playing sportsbook even though pick low odds but I take a few bets with high odds. It is effective in sportsbook games if you want to get a big win. This strategy is like playing auto bet on Dice game.

That's true especially if you are not putting a big bet.

If you bet at least 100 usd with 1.20 odds, that you can only win 20 usd per bet and for me that is boring, bug if you bet 20 usd with x10 odds, it will turn your money into 200 usd and I guess I will have a little satisfaction with that winning knowing it's a small amount that I turn 200 usd in just one parlay bet.

^ We are on the same way, I also like to gamble with a parlay when playing sports betting mechanics. Gamblers prepared on that way of betting because of even high risk it also high return when you are winning the matches. Nevertheless, don't afraid if parlay if you had a confidant in choosing the right team to win in the matches that give you a huge profit.

Playing only on one sport event is without doubt the safest way to win, especially if we choose event which has only two possible outcomes. This is case with betting on tennis, chances are 50% for you as player, and 50% for bookies, but you can also get same chances if you play double chance or team will score or not, or any simliar bet.

But for such betting player need to have money, it makes no sense for me to bet $10 on odd 2.00 to profit only $10 from such bet. There is also problem with single bet, one time you win, then you lose - you are on positive zero. If you have bad luck you can play for long time and always back to beginning.

My strategy is always make profit for me in past, take for example $1000 and play max 3 events on ticket ( you have 10 chances x $100), but always bet on total odd around 10.00, so your max profit can be $10 000 ( my best score was 8 wins), and with only one winning you can get your bank back.

I don't think there is a strategy for long-term profits, let alone consistent profit. consistent profit will not there on gambling, because luck also plays for all games, including sport betting too. the risk of parlay can be even greater, but the benefits will be much greater, right? I like parlay because of the amount of profit earned, I have ever won at odds @20 and it was very pleasing to me

I think it depends on the games you put in together. When there are games with low odds like 1.06 or whatever (it happens) than putting them together is actually good idea because all alone they won't make you that much money whereas they would be multiplying with each other when you put them together.

However, if you are betting on something crazy like 4.6 or higher and want to put that in a parlay that wouldn't be a smart move, you are already risking your money anyway and putting it with others would make the other games get riskier as well, if you are certain that you will win its your decision but if its high like that I would suggest single betting as much better option.

I sometimes to parlays on NBA games for example but they are super risky because even the best team loses %10+ of their games which means if they are not on their day then you can lose but with parlay I just make sure 3-4 of the best teams get together and win that night which mostly happens and gives me a reward like I won something unlikely whereas its just regular season beasting for them.

Hello, this progression won’t work long term.

The only way to have an advantage in gambling  is increasing your prediction, without that, all progression will fail eventually

If only this was allowed on most sportsbook, a lot of gamblers could be winning more but from what I know you can't parlay teams that have the same name.

I also think parlay is somewhat effective like when you've won most of the legs and usually only have one left to wait before it pays out. Instead of risking everything on the last leg I make a bet on the other team to at least lock in some profits.

It's simple because parlay does gives lots of advantage to the sportsbook, the more leg we parlay the lower the chance of winning so you cannot make this method if you do regular betting with a decent amount.

Parlay is fun but with a small amount of bet only, believe if you'll win, you will have more satisfaction than odds like 1.90 and below.

In my opinion it is an option or an alternative and not an effective strategy, the reason I chose to parlay is because just to get the big odds and the parlay is an alternative for me and the parlay is totally ineffective because you have to win all bets. If you are looking for effective strategies, I would prefer to bet single with intermediate odds.

Both are effective to me because I've won betting on single odds and parlay odds, I just want to get some opinion from people.
Actually parlay has a less chance of winning and I know that possibility, but to win a big money could change our life.

Odds combine of x100 is big and good enough, and I know it's possible to win even with  lesser number of games in your parlay legs.
I have won at odds of x8 in one single game and imagine if we can parlay that with small odds, that would make things exciting.

I see if you are confident, then go for the parlay, if you are willing to take the risk.

For any gambler who are by nature impulsive, the parlay option is a profitable one so it seems. They often become overconfident and want to make a huge profit off some small balance so they go for all those bets which have their favorite player and bet on them. These commonly end up in a drastic busting but they really dont care because they are addicted gamblers.

Being addicted is another story, every gambler can have their own betting style and that includes parlay.
I think constantly betting on parlay will not make a gambler prone to become addicted as we are just risking a small amount of money here to win big.

Based on my experience, it would not affect me much if I just loss a small amount of money compared to betting a decent amount for odds 1.90 average.
I can put 10 usd for a parlay and expect 100 dollar win, if I lose, it's alright as I understand that the chance of winning is low and I can't be overconfident with low chance of winning bet.

No betting strategy is effective because any form of sports betting is a risk.

If you do parlay bets, your chances of winning will not depend on the fact that it's "parlay betting" you're doing but rather on how careful you are when choosing the teams to bet on and on how good those teams are in the real game.

So when doing parlay, I suggest one be sure to know the game and the teams so well. Otherwise, there are always other types of bets to make.

Here's an article you can check out about the different betting types: https://www.bitcoinsportsbetting.co.uk/news/most-common-types-of-sports-bets/

Agreed, every betting strategy is a way to increase the winning chances. No strategy assure of wins, however big is the betting amount. In parlay betting we bet on a series of games, winning the entire games gets a bigger win, if not it will end up losing. Understanding the same it is always good to spend on games that one has got better knowledge about the team players and its previous records.

true . thats why i dont oftenly use a strategy espcially when im bored or when im not in the mood for playing a gambling  . i still mainly play randomly no matter what kind of gambling game is that because i believe that all kinds of gambling are luck dependent .  i dont know if what is parlay but based on its name i think this is some kind of a complicate strategy  that is only being used on some certain type of gambling games ?

Indeed, it is true that every form of gambling is a risk.

However, to give OP a concise answer, parlays are not good for long term betting mathematically, and are inferior to the flat betting system.

There is not a single long term successful sports bettor I know who uses parlays.

You don't know on whats parlay?It would be good if you do make some googline.It isn't a complicate strategy

though but its a way of betting which you do place some various team/players bets in a row and in order to win you would need
to win all of the said bets you made.Parlays do have big odds and a very attractive possibly winning.

The fact is that a gambler can constantly use any form of gambling, including sports betting.  It is not necessary to act only in one direction, because it is impossible to get good results only from bets or, for example, from roulette.

I don't think single bets are actually effective, parlays do need all the wins, but it's better to keep the level of parlay on level 2 only. I myself like parlay in betting and trading, with 2x wins then returning to level 1, I think it's safer and easier. And it's not too risky like compensation strategies.

I love sport betting a lot and I would really love to be on the winning side, but in as much as I would love to play a winning bet, I would never take such high risk with paylay, I think I am just cool with single odds which is the only strategy I have been using for my sportbetting games.

Paylay actually has high returns but the chances of winning with it are extremely low and it is highly risky to use. Paylay is only for those who has been betting for probably decades LOL, and not for people like me that is just starting to get adapted to sport betting. So pardon me if I do not go with your own strategy, if you have been using paylay and it favors you more, just stick with it and I do hope it does not burn you one day.

I'm never using a parlay, but my friend using its. It's a good option if you only have small capital for the bet, but you got a really good prediction, the prize from parlay was really amazing. My friend successful predict more than 5 games, and he won't more than 1000% from his bet amount. The sucks thing from parlay went you only need 1 more game to be a successful predict, but shit happens coming to you and make you lose. That's was really fucked, went doing a parlay.

with parlay bets you may get a bigger prize if you can guess well and maybe that can happen to everyone

I have play this gambling before(parlay) but lose my capital in just few losses. It is good op should explain to us how he used this strategy to win in gambling and make a lot of wealth from his winning.

Yes you are adding possible winnings if you bet the right combinations, parlay do help increasing your profits but quite hard if you are not really familiar finding the combinations, knowing that one mistakes will lead everything to lose,, it's gambling anyway no one is really sure with every bets just adding additional potential when combining games to bet on and if all wins then your expected profits will be higher.

I think parlays are nice if you are able to bet across a varity of different sports. IE parlay the best baseball team playing the worst baseball team,

The best parlays I think are when snooker tournaments come up.

I prefer single bets over a parlay because most of the time am always off by one or two games which means am better off with singles.

And as far as I know placing single bets off that bet slip would live anyone in the green unlike going with parlays which could leave you with nothing.

Guess parley is betting with your wins?  Sounds like normal way of gambling. Not that different from someone playing with new funds. Both results should be similar except either one is skillful in sports betting.

Bet on sports matches doesn't have to be watched, so even if you make a single bet and also the parlay can be done or made before it starts and also when live. Indeed, single bets are more effective but that also does not mean being the best because in bets and in any match can occur, because the results of losing and winning depend on the analysis made.

That's pretty similar to my situation, I don't really win most of my bets but I still love to be on parlay.
I don't find it an effective way to make money but I find it attractive because we can multiply the betting odds to increase the amount of winning.

Because I think this is fun, I have my big bets on a particular game and some parlay with small bet just to have some thrill in the game.
Playing on parlay bet is really fun, you should try it, but don't focus on it.

You misunderstood what roosbit said, he didn't mention missing the games he bet on. What he meant with being off by a game or two means he's always losing his parlays by one or two leg.

It's basically the auto bet in sports betting so you don't have to manually place them one by one.

It only means that you are taking a bigger risk. If you are confident with it then go for it since gamblers are obviously risk takers. In the end it all comes down to whether you have some inside info or not. Parlay your bets on those and watch as your money goes up and up. We all have bookies who are giving out information for a price in many shantytowns of big metropolitan cities.

Its all a part of making money for either party. In case you are just relying your luck the parlay can hurt your balance in case you lose one or more of the matches

Parlay betting is quite fun but remember that parlay can also increase our level of greed in betting. When we don't have a level limit on parlay bets, greed will overwhelm us and we will bet on high emotions.

I believe parlay is one technique that is very popular because it is efiicient to play it safe and also to gamble in certain games.
 the parlay technique is very beneficial to players such as examples like gambling sportbook?
there is a lot of possibility and chance to win. there's no way someone will always be wrong in row.

The only advantage you can get from parlay is that you really know the team or the player you are going to bet, otherwise the odds are going to be stack against you.

And if you miss just one leg of the bet then it gonna be over. That's why I don't want to test it or at least try to, I would rather have a single bet, win it and then go bet another day.

None of the strategy gives the assured winning or recovery of the loss happened in the previous games. This way parlay strategy is completely related to the money flow of a gambler. Strategies were just a way to give hope to the gambler and with this it isn't possible to win. Maybe one in ten times of betting the strategy wins.

You have to find working and best strategy that suits you. But remember that there is no effective strategies in a long run. Maybe it is working for you now, but you have to change your strategy and find another for the site not to detect your styles. Anyway, parlay strat is not bad. Sometimes it works fine with me but still, if you wagered and collect them all before you bet it, be careful.

Parlay is not even a strategy. Its a method of playing that the casinos know gives an advantage to the house like always. They pry on the self-confidence of the players in order to make them bet a parlay of several games which they think will win but often times because of the confidence and rush they make a mistake, on which the casino banks.

If you have full confidence about some bets to be spot on then go for it. But bear in mind that the risk is also pretty high if you lose a few of the total bets in a parlay.

I've hit a max of around 30-35x. I do lose most of the times but  if I win I recover back so it just gives a little profit. I prefer betting parlay rather than single with low odds. I always mix up my parlay with bet events with low odds around 1.5-2x each and bet on it and have really gave me good results so far. I do have a spreadsheet where I have my old parlays still. I need to check back to see my actual highest parlay that I had won.

You are some kind of serious with your parlay strategy, that's good man, I though parlay was just for fun bets, at least on my own stance, but you did great for tracking your record and that would tell at least on your side that parlay is not a bad technique.

Thanks. I actually was kinda into sheets stuff then and had lot of time so always try to figure out to do some tracking stuff with sheets which was so cool and I learned a lot then.

Here is some of my best wins last year:

18x off 40 mbtc stake: 743mbtc win : https://www.coinbet24.com/en/coupon/baaaaaSRh

There was another one which was so close to 1 BTC : https://www.coinbet24.com/en/coupon/baaaaaSTn . Lost 2 events out of 5 but I recall it being close too.

---

It's cool to bet parlay if you have some extra lying around. However I don't recommend betting all-in. Parlay works good with betting part of your balance IMO.

I think parlay is not for people who play it safe, if you do a parlay but the odds are still small, by playing safe like over 0.5 goals, then it's not a good thing. because the risk won't be equal to the profit you will get, at least I will parlay the odds around @5 and above, it will be better.

Parlay would be ideal for those who are risk takers and not those who play safe. Its the confidence that makes people bet parlays and if lucky win them. If your go for the higher number of bets in a parlay you are making it more prone to losses without any doubt. So a 5bet parlay can have a significant loss if you lose even just 2 of them.

Most gamblers like the risk though so they would without thinking anything more bet on those games that they feel confident about.

Non-parlay, parlay and martingale systems actually have a high risk. Anyone who starts gambling means they are ready to take risks, whatever system they use. And for me parlay are indeed quite ideal for gambling, but keep in mind that parlay will not be ideal with a high level because gambling will be more difficult than trading.

I myself usually use the parlay system up to level 2 only, when reaching level 2 I will return to the initial level and so on. Gambling is not a trade and the risk of gambling is far greater than trading so if you want to find it safe it is better to use a parlay system up to level 2 only.

Its a great idea for anyone who would fail to carry out their strategy of rolling over a win to the next bet.   You are forced to bet small from the very unlikely outcome of all bets winning which makes its a high risk but high pay bet, I find it a kind of ideal for dreamers to think up while in work and then lay down in hope they can retire early.

  I dont have the guts to actually roll over decent winnings into another bet and even if I did I'd forget my original sequence of bets.     Put it this way, every man has at least one good idea in his life and he either writes it down and acts on and makes it a great thing or it passes like a bubble in the breeze and pops from the fragile thought it was.  
    If you happen to achieve great realisation in your betting, in your estimation of odds vs risk especially sports betting and you go so far as to lay down a sequence of wins that come off then you deserve this great pay off and its not even impossible; it just requires inspiration and some luck and that is feasible.

Parlay is best when the odds are high. If the odds are somewhere around 0.5 or even until 2, it is better to place a separate individual bet. It is definitely not worth it however huge your possible win may be with a much smaller bet. In the end you are still like giving away free money to the betting site. Parlay is for risk-takers who are somewhat certain of his bet. If you are highly uncertain of your prediction, you have to avoid parlay.

That's a stupid parlay, it should be higher than 2 with at least 2 bets on it, otherwise, it's not fun and you are too greedy to get that low odds using parlay.
When I bet using parlay, I don't expect much chance of winning, I only want to feel the excitement that wen I win, I win double or more versus the amount I risk.

The biggest disadvantage of Parlay is that you have to win all the bets in the group and if you lose even 1 bet, you lose everything. I do not recommended this type of gambling in which the risk of losing is too much high.

That's not a disadvantage, the main rule to win in parlay is to win all your bets, otherwise, you lose.
Sound insights about parlay betting here https://www.thelines.com/betting/parlay/

That's the mandatory rule from parlay that lost one match then you will lost all of your bets so you cannot avoid it but i have done small experiment made a parlay with low odds for each match that i was pick the match with low odds approximately @1.2 - @1.3 and i was putting 4 matches into my parlay and the results is i won it but indeed it will not 100% safe but deserve to be try with small money

Thats what I am trying to tell people here. This topic is misleading because playing on parlay or not does not change the odds of the game. If you lose, you lose big time even if one bet in a parlay goes bad. But the corresponding reward on win is also high. As for any casino or bookie the house always the bigger winner because the gamblers will become overconfident here and make reckless bets without having done analysis on the team at first.

Which is why I tend to move addicted gamblers into become diligent traders. ;)

That is a good strategy as that was what a tipping service here which I was part of was doing,they every day put a parlay of 3-4 bets from odds of 1.15-1.35 and as I remember I won sometimes there with them.

I tried myself then by parlaying low odds but I was busted and so this is not a safe strategy,it can make you play longer but that's it.

I like to bet on parlays, but small ones, with only 3 games on it, The past parlays I had wone was UFC parlays, and i like those ones because you don't have to wait a long time for those 3 matches. They take less than 1 hour, so, it could be considered as a fast sport.

I have do parlay, and only a little odds. Because at first i don't know what is parlay and end with lose.  ;D I think parlay is good like there are something that can expert that can do to increased their income. Like something 1 level above normal level that we can do.

It is not disadvantage but it is the risk of parlay bet. Parlay bet gives you the opportunity to have high odds from small odds of some bets. By this bet, you can bet smaller amount to get higher profit instead of playing one bet only. Obviously it is risky because you need to have all correct predictions. You need to make sure about all bets you are going to be placed on the parlay to get a higher winning chance but if you are not sure about one bet or few of them then just go with single bet.

That's how you do the parlay betting, we do it with betting a small amount with a big payout, though it's hard to win but if we are lucky we will surely enjoy our winning. Sportsbook likes people to bet parlay as they have the better edge and I believe bettors knows that but the fact that we can bet a small amount and win big money, that is so attractive for us.

Parlay is an interesting strategy and I also prefer to play it with less amount of money. Not only it is profitable, the hope of winning all the bets games in parlay keep its interesting all the way. Never play parlay with the bets which are of high odds. It is best to play parlay with all the bets with low odds.

Good for you, but I still don't understand what parley is and nobody is explaining it!
I came here hoping to read an explanation! 😋

I think someone must have told in this thread but if you couldn't find, here is the brief definition of Parlay and rest you can google it.

Without using the strategies like parlay & martingale, the gambling is still risky, isn't ?
So there is no harm if we sometimes use and try these strategies. Being a gambler we should know these strategies, when and how to use them.

Maybe simple thing to describe is, like you pick more than 1 option in single bet. And if you can win all your pick, you can win big. But once it is lose, you lose all your money because you get nothing. Maybe that is simple way to describe.

If someone likes gambling it is not possible he is not interested in parlay, how can not even with a small capital can produce more (depending on the calculated odds). I bet on a parlay with 7 football matches with x11 total odds and bet $85, this is my first win.

For 7 legged parlay, I would not be $85 usd, that's too much for me, maybe just around 5 to 10 usd as that is just my range.
But you are lucky to win, and maybe you have a bigger budget in gambling that's why even at a parlay, you are confident to bet that high.

The Parlay style of gambling is for the sucker who doesnt mind getting poor odds.
You are giving yourself worse odds in hopes of earning more money.

This article explains very well why Parlays should be avoided:
A parlay wager has a storied and much-debated place in the history of sports gambling.
https://extra.betamerica.com/examining-parlays-in-sports-wagering/

I'm sure gamblers do know about the chance of hitting a parlay bet, but that's not poor odds for them, otherwise they will not be attracted to do a parlay bet, maybe the right words are, betting odds is high but chances of winning is low, at least that's just my own understanding and I still find parlay not a sucker bet since there's always an excitement when doing a parlay betting. 

Yes very lucky. For me gambling is a place where looking for pleasure, not the full profit, if fully looking for profit we will be encouraged to play unhealthy or out of control and result in losses.

That's right, that's being realistic since we know that we have less chances in gambling compared to other forms of venture in making money.

I also think that gambling is good if you treat it for full entertainment only and just forget if you loss and not take it seriously where it will make you come up with an experiment just for the hope of making money because that's too costly since this involves money, and the more you gamble, the more money you need to be able to do it.

at what games you play to feel that gambling can make you entertain ?  card games maybe  ?  because i dont feel to be entertain when i play repetitive games but im only playing them if want to try my luck and to possibly earn some profits   .   if i want to relax and enjoy i only play card game locally with our neighbors  but this still include real money as bets .  when it comes to strategy  ,  i still include it on my games no matter if its for enjoyment or for a seriuos game .

For me, I feel entertainment much in sports betting, this kind of game where I don't feel bored when doing as different action in every game, in addition I can also choose from variety of games offered by different sportsbook. I'm not saying I'm fully focus on sports only, I also do a lot of many games, even dice, I feel it's also fun but when it comes to aggressiveness, I'm more aggressive in sports gambling as I feel I have a better chance.

I am very sure that those professional gamblers would quote you wrong on this. The general believe is that gambling is for money making and only few gamblers would accept gambling as a place of entertainment. I am even aware there are categories of people that no longer work or do another thing to get money but rather depend solely on gambling to make money and take care of their needs. This is one thing that breaks my heart the most, like seriously? Where did this believe come from? A game that was meant for fun suddenly turns occupation to some certain people? It’s absurd I must say.

I think the aim of strategies, if at all necessary, should be for improvement in playing. I never use strategies, so I am not in a position to tell which is effective or not.

Depends from everybody's approach and bankroll management, maybe it's correct that he have a bigger bankroll and he can take that much risk for 7 legged parlay, but for small time gamblers who can't afford that much, $5-$10 can be considerable especially if you have that much games to select as chances to lose one of those games is very possible, lucky for him to win as he will enjoyed his winnings.

The lower the number of bets parlayed the better the chances, so for me, the amount that I put decreases when the number of bets in a parlay increases.
Let's say I can bet 10 usd in 2 bets parlay, when I will increase it in 3 legged or so on, maybe I would just bet 5, then 2 usd, but then again that really depends on our total bankroll and that would change from time to time as bankroll is not fix, it sometimes increases or decreases depending on how we manages it.

Don't you think that wining is gambling is directly related to the entertainment and pleasure in the gambling ?

I only feel good in gambling and when I lose in gambling i do feel sad. Even if I made up my mind that I will not care for the win or lose in gambling, still a loss make me sad. So I think it is impossible to think that we can be happy regardless of a loss in gambling.

In the beginning, when I started to bet online, I saw this parlay kind of bet

I remember thinking: it's so easy to guess 4 or 5 soccer games that I'll gain a lot of money with this way
And I started to use parlay...

I've never won any bet using parlay  ;D, I stopped and it's much better to focus on single bets that have a good ratio and you have a knowledge about the game

It is very obvious that you are into gambling for money, so regardless the game type I believe you would never be entertained. My realization about gambling is, you must define your intentions before playing, if it’s for money, stay focused and don’t even think of catching fun because you would realize that it never comes. Same as entertainment, those who have a mindset of gambling for fun, always find it very hard to make profit. So, it is important to have a defined purpose. For me, I enjoy games that are familiar and I keep on repeating to be better, this way I do not really need a strategy but experience.

You are so meticulous about parlay when you start betting online, I personally don't know anything about parlay, I have even done a several of single bets on online gambling, especially soccer. In the end my friend told me about the parlay and from that moment on I made a parlay bet that I did every time I bet sports, because I felt this parlay bet would be very profitable for me at the time and proved to be very efficient, but somehow I made parlaying longer I feel like I lost my skills there even though I still bet parlay once in a while but it's no longer as effective as in the past.

LOL, in gambling, you will only prove a thing until you try it, parlay offers great return but it's not as easy as we think.
As for me, I still find it fun, because I have won many times but I don't want to compare my loses betting in parlay as I'm pretty sure i'll end up negative.
This strategy is good for fun only, so let's just keep it that way, if we want to have consistency to fulfill our long term mission, avoid this method.

I dont think you are reading before posting. Changing seed and all is something related to dice games and EV- games of a casino. Parlay is generally applied to the sports betting and specifically to multiple bets as one set of bets to get a big multiplier. Many sportsbooks allow this to be done which often ends in huge wins or huge losses.

What you seem to talk about is martingale and the false concept that changing seeds changes your outcome - this is a misconception. Though I would like to know more about what you say, which is if you ever read these comments again. :D

Parlay’s are great fun if you’re putting on a small stake because you get good odds. You’re not going to win very often if you put more than 3 things in your parlay though.

I suggest if you’re a really serious gambler then stay away from them.

I'm serious in gambling but I also love to take this kind of high risk bet.

Like you said, we only put a small stake, so it doesn't hurt a lot when that bet will not hit, parlay is just like betting on a jackpot game.
If my regular bet is like around 100 usd per bet, putting 10 usd in a parlay bet would already add more entertainment.

I know this is why the casinos are always been and will always be a flourishing business. People just love to take risk whether it be justified or not. I am not discouraging you about your bets though, do what you feel good with.

Betting on multiple bets to make a parlay is always tempting for the gambler because they have come to the casino to make money and take that risk ride to big wins - parlay is the gateway to that. Of course a confident gambler would be wise enough to bet on a few bets like this but be diligent about matches which may be fixed.

Gamblers are always ready are always ready to try out anything and every strategy that promises to bring them money and just like you have said and I agree with you, casino site will continue to grow and the operators will keep on living luxury lives from the loses of desperate gamblers.

Is it too much to play games for entertainment without having to look for different strategies? If they are not trying martingale for sports, they will be trying parlay for others huh. Well, I know nothing about gambling because I am not a player but I hate to know that certain groups of people are making great money from the foolishness of some gamblers that believe they will make it in life by gambling.

no not all . i believe some gamblers are scared or nervous . they still have that doubts whenever they are placing their bets  and whenever they try a strategy whether if its new or old  .

this isnt true  . some casinos are now bankrupt because they loose from the gamblers  .  not all casino operators are living a good life but they are also struggling to continue thier business just like a normal business man .

no its not  . its enough actually but it will become too much if you will add strategies

That's rate, I believe casino business is a profitable one as long as you have gamblers playing in your site.
Casinos will only loss when their operating expenses is higher than the amount of income they will get, that means they have a small number of gamblers and small funds are flowing in the site.

They can't loss actually since they have the edge, and more on sportsbook since they are just a facilitator of our bets, every gambler has different bets, hence different odds are created to have some balance action .

I don’t believe any casino site can ever go bankrupt, what expenses do they really run and moreover why will a casino site have few number of players. Maybe that casino isn’t ready for business yet or just came on board to dupe and then closes up. The number of gamblers is really high and gambling business remains the number one most lucrative business worldwide. There will always be huge traffic on all gambling sites and like you said rightly, the edge is always in favor of the sites, this means they are always on top of their game.

I don’t think there will be any strategy that will be allowed to work for any casino site, this would me loses to the sites, so they will try to prevent this from ever happening.

Parlays obviously arent an effective "strategy" - yes, you can place a parlay here and there just for fun with low stakes but if you want to make money with sports betting, you have to go with single bets... Thats no rocket science but simple maths...

Working strategy or shall we say an exploit on cheating out the gambling system is a total BS thing to consider but there were still people who do believe that these things do exist.

Gambling is a multi billion industry which simply means that this is the most profitable business that a business owner would have and speaking about edge,they do always have that thing on the end.

About the topic, parlay is much harder on my part 3-4 games is somewhat manageable.

I do not understand the effectiveness of strategies if there are conditions attached. I always thought it’s even serious gamblers that need strategies? We must come to a point we would realize that strategies never works in any kind of gambling, be it sports, poker or dice games.

If you want to enjoy yourself and not feel frustrated in gambling is to avoid strategies and learn to depend on luck and little skills. Even skills can fail, the game is purely a game of luck and changing that aspect is out rightly impossible. What happens to the site owners? Do we really believe or think they would fold their arms and watch a strategy work for players, if it does, then how would they make their money? The earlier we erase the thoughts of using strategies in gambling out of our minds, the better for us.

Parlays are usually a sure way to lose your money, there are too many things that have to happen to win. I do enjoy doing them though because the odds are good. I’ve won a few really nice one’s in my time but I’ve lost a lot :D

That's expected that we will have more loses than winnings when using the parlay method of betting, but the good thing is, one win can surpass your loses and you will end up profitable. We just need to be lucky to win our parlay bet, having 5 parlay legged or more would bring a good odds if we will only pick odds 2 and over, and I have experience a win in the past, that's why I also love this method but I always limit my bet on parlay.

Parlay bets are not a good strategy in the long run. You are going to need to really have a large bankroll and be willing to go weeks without winning anything. Also adding bets to a parlay does not increase the value of these bets. There are many things that people overlook when making parlay bets. I have an older thread about it here: https://bitcointalk.org/index.php?topic=1845604.new#new (https://bitcointalk.org/index.php?topic=1845604.new#new)

As well as a Parlay FAQ
https://degenbet.com/parlay-and-accumulator-faq/ (https://degenbet.com/parlay-and-accumulator-faq/)

Also a new FREE telegram channel where I try to hit 1$ parlays that pay at least 1000/1
https://t.me/dollarparlay (https://t.me/dollarparlay)

Yes, if we experience win with our parlay, the profits we get will certainly be greater and it has a different taste, proud of course! But it would be nice if we did not force ourselves to always make a parlay. It would be better to make parlays only when many big teams play against small teams which mostly will give a small odds in ML. Combining such small odds into a parlay could be good.

Parlay will work well once you have a good knowledge with games that you are following picking selections that have a high chance of winning will multiply your earnings, and it's correct covering your loses can be quicker if you pick a good combinations, you'll need to be optimistic there's always a higher chance to earn out from this strategy if you continue  to learned selected games to place your parlay.

Gambling sites cannot lose and always have the edge. Gamblers loses more often and even if they win few games, they may lose more games and lose all the winning amount also in the next bets. So the gambling site is always in a lot of profit.
Even strategies like Parlay are also difficult to win.

They have an edge over the player but it is false to say that they cannot lose. Statistically the total amount won by the casino is more than they won by the player.
Parlay is not a strategy. It is a option given openly to all players when placing a bet. Its more commonly seen in sports betting and other types of live betting, not EV- games. It multiplies if you manage to predict majority or all of the games as wins. It is thus not a strategy, rather a way to make the bets more challenging and rewarding.

Expecting to win huge amount is the only part that i love about making parlay ... especially when you do nothing to lose which that's what i always do sofar in parlay.

Use only the money that you don't care , i mean a really extra money like when you want to withdraw 1,000 usd but There's 1,023 usd in balance then use the remaining balance of 23 usd after you make a withdrawal.

Sounds fair enough isn't it? You won't care if it lose 100 times but you'll extremely happy if the result is a win !

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I think that gambling is something entirely based on chance, so I think that the tactic you mentioned will not work long term or always. I would also like to know that it is the safe that always wins in gambling, so every tactic you apply will temporarily gain you. For this reason, I advise you not to tire yourself with developing or finding tactics, but to play gambling for pleasure. Of course, you can develop your own techniques, but the methods that everybody knows will never help you make continuous profit.

A gambling site can always lose, even if we ignore the fact they provide a service by hosting games on servers with bandwidth, operating costs, security, staff and lots of other costs its a big possible loss to run a site.   The cost of capital investment and very obviously they need a cash float to risk every day to winners of each bet.   Any company in the world has a risk to it, so yea they can lose.    Add onto that it doesn't have to go in the favor of profits for the house, almost always the house has an advantage in every game (and still they can lose in streaks of hours or days) but as I describe some of that of costs, some of it might be promotions given out, advertising possibly and admin costs.   They dont have to make a profit but I wont disagree gambling is often very good business for those that can get customers in the door.