- MemberOctober 19, 2023 at 2:36 am
When it comes to the question, ‘What is football parlay betting?’ this is a popular type of bet in football betting, more specifically, in football parlay betting. With experience and good strategy, you are sure to make a substantial amount of money from this type of bet. So, what is football parlay betting? Learn how to read the odds and calculate the most accurate win ratio with Wintips below.
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What is Football Parlay Betting?
Football parlay betting, also known as parlay betting, is a common type of bet offered by various bookmakers and is of interest to many players. In European bookmakers, parlay bets may go by different names like Accumulator, Multiple Beat, Mix Parlay, and so on.
In simple terms, this type of bet combines multiple betting selections into a single ticket. When betting on parlay, a player can only win if the majority of the betting selections on the ticket are correct.
Since you need to get multiple betting selections right at the same time, the odds of winning in parlay betting are typically lower than in single bets. The specific win probability depends on the number of selections on the ticket. However, in exchange for this, the potential payout is much higher. Winning a parlay bet can significantly multiply your initial stake.
For example, if the win probability of a single game is 1/3, then the win probability of a parlay bet on two games would be 1/9, and for a parlay bet on three games, it would be 1/27. With each additional game in the parlay, the win probability multiplies by 1/3.
Despite the higher risk, parlay bets come with high winning rewards. Experienced and patient players can take advantage of this opportunity to achieve substantial wins. When participating in parlay betting, all you need is knowledge and a unique strategy to optimize your win ratio.
Common Types of Football Parlay Bets
There are several common types of football parlay bets that you might encounter when engaging in betting. Based on the number of matches and betting selections you want to include in your ticket, there are parlay bet types as follows:
Double Parlay: When you bet on two matches.
Treble Parlay: When you bet on three matches.
4-Fold Parlay: When you bet on four matches.
5-Fold Parlay: When you bet on five matches.
6-Fold Parlay: When you bet on six matches.
7-Fold Parlay: When you bet on seven matches.
8-Fold Parlay, and more: When you bet on eight or more matches.
These parlay bet types are named based on the number of matches in the ticket. Each parlay bet type will require you to predict the outcomes of the corresponding number of matches to win the bet.
How to Participate in Football Parlay Betting at Bookmakers
Step 1: Register or log in to participate in betting.
Step 2: Deposit funds into your account and select ‘parlay betting.’
Step 3: Place your bet at the bookmaker based on your predictions.
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How to Calculate Parlay Bets in Detail
Understanding the rules and calculations of parlay bets is essential for every sports bettor. This helps players make quick and accurate selections and potentially earn high profits.
Calculating a parlay when winning most individual bets
When you win most of the individual bets you’ve chosen, the parlay odds are calculated by multiplying the odds of each individual bet together. The general formula in this case is as follows:
Parlay odds = Odds of Bet 1 x Odds of Bet 2 x Odds of Bet 3 x … X Odds of Bet n
Here’s an example to make it clearer: You place a parlay bet on 3 matches, including Chelsea at odds of 2.16, Liverpool at odds of 1.99, and Manchester United at odds of 2.09. When you win the parlay, you will receive the payout as follows: 2.16 x 1.99 x 2.09 = 8.9837. This means that if you wager 100,000 VND, you will receive 898,370 VND when you win this parlay bet.
Calculating a parlay when there are ties, half wins, or half losses
When your parlay includes ties, half wins, or half losses, calculating the parlay odds in this situation will have some differences. In theory, your parlay odds are still calculated by multiplying the odds of individual bets together. However, there are some changes to consider:
Tie or push bets: The odds in this case are considered as 1.
Half-win bets: The odds in this case are calculated using the formula [1 + (odds of the individual bet – 1) / 2].
Half-loss bets: The odds in this case are 1/2.
The formula to calculate parlay odds in this case will be:
Parlay odds = Odds of a win x [1 + (Odds of a half-win – 1) / 2] x (1/2) (Half-loss) x 1 (Tie or push)…
Important tips for newcomers to parlay betting
In addition to the basic knowledge of parlay betting, here are some important tips to increase your chances of winning when betting on parlays:
Avoid placing bets on the same game when playing parlays to ensure diversity.
You can include bets from other sports you like on your parlay ticket to add variety and excitement.
Limit the length of your parlays, as the higher the payout odds, the greater the difficulty in winning. It’s best to stick to parlays ranging from parlay 2 to parlay 4.
Some bookmakers offer additional bonuses when you participate in parlay betting, so take full advantage of them.
You can also engage in other bets simultaneously to protect your bankroll, such as Yellow Card bets in soccer.
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Wintips has provided you with an understanding of what parlay betting is and related information. Remember and practice these tips to make your parlay bets more effective and bring in more rewards.
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