Parlays Are Not Worthy For Sports Gambling

Possibly you like to bet parlays. Or possibly you’ve by now learned that it doesn’t make a whole lot of good judgment to play parlays. Either way, this little anecdote should help as some re-enforcement.

I have an 18 yr. old nephew and yesterday we went to watch the Sunday games together. He knows what I do for a livelihood and as I’m talking on which games I’m chiefly rooting for, he says in an offhand way, “Yeah, this is who I need,” and pulls out … a parlay card.

If you’re not familiar with a parlay card, I think I was exposed to them my sophomore year of high school. They’re supplied by the local bookie and they pay dreadful odds. It’s a good way to hook young people on betting because you can wage as low as $10 and the assurance is: little risk, ton of reward. Or so they think …

But I’m here to tell you: as a regular rule of when to bet parlays the answer is … Not at all.

Parlays usually hold a higher house edge than straight bets, which means you furnish the book a bigger advantage over you when you play them. That, by itself, is grounds enough to restrain the misplaced feelings of greed united with concern that commonly lead to betting parlays. People believe they are risking less with parlays, but they are not. They believe they can be successful more with parlays, but they cannot. The higher win with parlays is far outweighed by the higher likelihood of failure. Parlay gamblers are really risking more, with less likelihood of collecting.

A parlay is not a solo bet. It is two bets -- a one-unit bet on one team and a two-unit bet on the other. Which team gets the two-unit bet? In point-spread betting at constant money odds, if both teams win or both teams lose, it doesn't matter which team gets the double bet. When one team wins and one team loses, however, the double bet is supposed to have been on the loser. How smart is that for the bettor? Go ahead, make a parlay. We'll wait until both games are over, and in case of a split we'll put the double bet on the loser. If your bookmaker sold you a parlay with that line, how many of you would still make the bet?

A parlay is also bad money managing. In a parlay you either bet double on the second team, or zero on that same team, depending upon whether the first game won or lost. That adds an factor of luck to your gambling that doesn't need to be there. The practiced handicapper is at all times seeking to make smart investments. He tries to eliminate the effect of luck to the utmost degree possible in order to make his outcome as predictable as possible.

To close the story … My nephew had bet a 4-teamer for $10 at odds of 10 to 1. And $100 to a high school kid is a pretty big deal hence he was pretty wound up particularly after he pulled in the first bet during the 1 o’clock games. Now he had 3 games going at 4 o’clock and it was time to sweat it out.

Chicago scores a late TD to cover, 2 for 2! New Orleans rolls over the Bills, 3 for 3! Now it’s down to one last game and he collects his $100. He just needs Pittsburgh minus 5 over Cincinnati and they’re coving the number until … Cincy scores to make it 21-16 and goes for the 2 point conversion and … they don’t get it. At a regular sportsbook he’d still be OK: 3 wins and a push makes you a 3-team parlay winner. Yet with a local bookie a push is a loss, so he’s in rough shape. Then to put the nail in the coffin Cincinnati scores one more TD and wins outright.

Final tally: 3 wins and 1 loss. If he had bet the games straight he’s picked up almost 2 units on the day and he’s delighted. On a parlay, a three and one record gets you bupkiss, nothing.

Take my counsel and stay away from parlays, they are a suckers’ bet.

Rich Allen

Article Source: http://www.gamblingarticlessite.net

Rich Allen is owner of the Sports Betting Professor website www.sportsbettingprofessor.com. 2 years ago he hired an actual PhD Statistician to develop a quantitative system to win consistently betting on American Football, NBA Basketball, College Football and Major League Baseball. His results have been stellar. The Average Guy, Can Learn The Secrets Of His Sports Betting System And Propel To Unthinkable Winnings For Life!"

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