Is parlay an effective betting strategy?

[morvillz7z]

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.

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.

[1714624897]

1714624897

[TheUltraElite]

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.

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.

[zergenyt09]

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.

[stadus]

Parley is not even any betting "strategy" - the title of this thread is a wrong statement.

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

Parley is just another method to market their bets to overconfident players.

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.

[MonsterV]

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.

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.

[jakelyson]

Parley is just another method to market their bets to overconfident players.

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.

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.

[Oceat]

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 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.

[Ucy]

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

[SyGambler]

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).

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

[janggernaut]

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

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.

[harizen]

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?

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.

[goinmerry]

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?

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.

[custard_pudding]

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.!!!!!!!

[sunsilk]

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

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

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.

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.

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

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

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.

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

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

[Maslate]

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

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.

[TheUltraElite]

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.

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.

[Vaculin]

for now I am looking for good methods and strategies, which produce consistent profits.

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%.

[mitchr4]

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.

[Sanitough]

It's boring when playing single bet with low odds,....

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.

[DoublerHunter]

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.

^ 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.