A Fundamental Approach to Laying Bets on Parlays

Are you familiar with the concept of a parlay bet? In the event that this is not the case, did you ever hear someone mention an accumulator? Both of these are basically the same thing: a sort of wager in which many choices may be made on the same ticket. If you want your parlay bet to be successful, each of your wagers has to come out on top. When even a single one of the specified wagers is unsuccessful, the whole bet will be forfeited. In the event that one or more of the options are all tied, the payment will be lowered to the amount that it would have been if those selections had not been included in the game.

If executed properly, parlays have the potential to be incredibly effective. This, however, is far simpler to say than it is to accomplish. Given that each and every one of the choices must be accurate, winning them is often a really challenging endeavor. However, in order to make up for this, they provide very huge rewards. To be more specific, we would go so far as to state that the potential benefits are what makes parlays so appealing, particularly to bettors who are betting for recreational purposes. Sadly, the majority of people who gamble for fun do not have a good understanding of how to efficiently wager on parlays.

A common issue with parlays is that bookmakers often “shave” their odds in order to earn more money. To put it another way, they often demand a commission that is larger than what is typical.

We are aware that this may cause some disorientation to certain people. To make this more understandable, let’s take a break from betting on sports for a little and instead concentrate on the game that is played in casinos: blackjack. Suppose you purchase into a table for $100, place all of your bets, and win; as a result, you now have $200 in chips. You then make the decision to go all in once again, and you end up winning $400.00. This procedure is repeated four more times, starting from $800, then rising up to $1,600, then $3,200, and ultimately reaching $6,400.

If you have been successful in going all in six times in a row, you have transformed your $100 into $6,400, of which $6,300 is pure profit. Imagine coming back to the same casino the next day and seeing that there is a new game with the name Blackjack Parlay available to play. The fundamentals of this game are not too complicated. You place a stake, and if you win six consecutive hands, the wager will pay off at a rate of sixty to one. In the event that you lose any hand prior to winning six in a row, your whole wager will be forfeited.

Will you participate in this game? Given that you just learned yesterday that winning six consecutive bets effectively paid 63-1, it is quite unlikely that this is the case. You have no reason to believe that you would choose to play it at a 60-1 odds right now. In a strange twist of fate, this is precisely what the majority of sports gamblers do when betting on parlays.

Payouts for Parlays

You are aware that the chances of winning six consecutive hands of blackjack are 63-1, as we have shown to you before. In addition, we are aware that point spreads and total bets are both examples of propositions that are equal to fifty percent, meaning that the actual chances of winning are quite similar to the odds of winning a hand of blackjack. It is easy to see why you would think that the payoff for winning a six-team parlay would likewise be 63-1, but the truth is that this is not the case!

To be fair to the online betting sites, the situation is exactly as terrible with the sportsbooks in Las Vegas and other bookies as it is with the online betting sites. The question is, how are these online betting companies, sportsbooks, and bookmakers able to get away with such a reckless act of theft? Naïve gamblers who either do not know any better or do not care to find out whether the bets they are putting give any value are the ones that are targeted by parlays and accumulators throughout the gambling process.

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