Sports Betting 101 – 3 Tips for Making Parlay Wagers

If you are new to betting, a parlay is when you bet on multiple actions on one bet slip that will multiply the odds of the events together to provide the bettor with bigger payouts. The downfall to parlaying games is that if only one of the events does not provide the required result, then the entire ticket is lost. If you are a consistent bettor who is on a cold streak, you can also consider these tips when parlaying games to get you back on track.

Don’t Chase Value

Usually, if you’re placing a bet, looking for value is a focal point, especially if it’s a single-game bet. In this instance, if you are parlaying things together, value doesn’t always lead to success. Picking multiple underdogs with high odds to produce all on one ticket means the odds are highly stacked against you.

Try not to focus on the lines as much and look at the game itself. Sometimes bettors can get mesmerized by the odds for teams and be more willing to take a risk rather than making the more logical bet. The idea of parlaying things together is to create your own value by having multiple events on one slip especially when lines are heavily swayed towards the favorite.

Keep Things Simple

Another thing you want to make sure to do when putting together a parlay is to keep things as straightforward as possible. It’s easy to get sidetracked by all the different types of actions you can find when placing a bet. Between alternate over/under, alternate point spreads, or even specific scores, it’s easy to lose focus and become overwhelmed.

Ensuring you are keeping the parlay ticket as simple as possible is key in creating one that will cash. Avoid getting into specifics for game bets and stick to simple options, like moneyline bets or the over/under that is set. It’s also a good idea to try not to add too many events on one ticket. Oftentimes, sticking to one or two favorites that provide good value on moneylines is more than enough. Usually, if the odds of the favorites on your parlay are very slim in terms of providing a return it’s a good idea to add one other event that includes an upset you may like in order to boost your odds.

Don’t Be Greedy

The last thing you want to avoid doing when setting up a parlay is making the parlay too long that it becomes a pipe dream to hit on. While you would require a much cheaper bet to be placed if you have more events on the parlay, it’s usually better to lay down more money in order to have better odds of cashing in.

To the same effect, avoid adding multiple underdogs on one bet slip because that will also decrease your chances of having a successful parlay. Chasing the money is often what stems people to make outrageous or unlikely bets. Maintaining a realistic approach to the number of events and stacking the odds appropriately is key to creating a routine and increasing your net gains each time you put money on the line. Happy Wagering!

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