Any bookie pay per head owner knows how popular parlay betting is. There is more risk in parlay bets, but the payout potential is good. Which is why a lot of people who are into sports betting love making parlay bets. So, when you are running your own sportsbook, you need to know what it is, and how it works. Here is our guide to parlay betting to help you.
Normally in any online bookie software, a player will make a single bet on a particular outcome. Say, for instance, I could place a bet on the moneyline on the Lakers. If I wanted to make another bet, then I would look at the other lines, and place my bets accordingly. Each win will depend on the outcome for each game. With parlay betting, you are actually grouping together multiple bets. So, when you make a parlay bet, you pick 2 or 3 or more possible outcomes. If all of those wagers win, then you win a great reward for your parlay bet. Basically, it is more rewarding to bundle your bets into a parlay than to bet separately.
Parlay Betting- The Basics
As we mentioned earlier, a parlay bet is a sports bet made of multiple selections, made up of straight bet wagers. Now, if even one bet in your parlay bet loses, then you lose the whole ticket. You can opt to mix different sports, or stick to one sport only. You can also mix and match a bet- moneyline and spreads and so on. The best bookie pay per head of 2021 has a lot of parlay options available that are very attractive to players.
Depending on your software, parlay bets can be named differently. But they all mean the same- parlays, accumulators, combo bets, or multibets/multiwagers. When it comes to payouts, this is how it usually goes. If you bet $100 on a parlay bet, your bet could win you a payout of $700- $100 for your original wager, plus $600 winnings. You can also compute them with online calculators if you want to know more about payouts. There are more aspects of parlay bets, which we will be touching up on in our next bookie tutorial on parlay bets.