Is parlay an effective betting strategy?

[leowonderful]

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.

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[crwth]

~snip

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.

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.

[stadus]

~snip

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.

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.

[Lucius]

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.

[crairezx20]

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.

[Spaffin]

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.

[panjul07]

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.

[TheCoinGrabber]

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.

[Caladonian]

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.

[bitbollo]

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?

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!

Don't play too much events in one toto bet!
Yes! don't make "a long long list" in only one bet to pump up the prize.
@100 x 2 btc = 200 btc... with 1000 bet 0f 1.10......

The @100 is not only a Cheesy happy number, "i can become rich" but it's a probability number, that your events will be set winning!

Trust me Cheesy bookmaker want that you try to catch this high prize, because more match together implies more difficult (and I think with some numbers it's really impossible win).
A good friend (in the real life) use to bet from 6-10 bet every time like handicap, over 2,5 etc etc....

Him can get really the 90% of single match, but for only 1 every time him loose!
Why?!? Because if you play 6-10 single with strong quotes more @1.70 so far, you can protect your self for the "lucky bad of the last bet". There is also a psychological correlation, to see the prize get up, the vast majority of better, try to place the "surprise" or decide deliberately to point to more bet.

[jakelyson]

So my question, do you bet on parlay and why?,

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.

[sunsilk]

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.

[milewilda]

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.

[2double0]

After I saw someone win more than 50 BTC on NitrogenSports (with just a 0.01 BTC bet)

Bookie's worst nightmare ever LOL

FTFY. 
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.

[freedomgo]

After I saw someone win more than 50 BTC on NitrogenSports (with just a 0.01 BTC bet)

Bookie's worst nightmare ever LOL

FTFY. 
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.

[SyGambler]

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

[shoreno]

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 .

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  .

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  .

[Maslate]

doing parlays is really bad , everytime you make a parlay bet you are just giving your bookie extra money ...

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.

[Zicadis]

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 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.

[Lucius]

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

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).