Football Betting and the Power of Parlays: Risk vs Reward
Football is more than just a game for viewing purposes alone; it is a pastime that provides punters with limitless betting options. And one of the most popular options it offers is parlays as can be found on both old and new sports betting sites that offer other options including wagering on outcomes, goalscorers, corner kicks, first goals, etc. Now, parlay betting is a strategy that has so much potential to maximize the excitement of football betting.
Its attraction lies in the way modest stakes get converted to substantial profits. But it comes with certain risks attached. Here in this article, we shall delve into the power of parlays relating to the risks and rewards attached. Read on to explore more.
What Is Parlay Betting In Football?Parlay betting is a method of wagering that involves combining more than one game in a single bet ticket and staking on them. To win a parlay wager, all the games in the ticket must win as predicted before you get your payout. This kind of bet is also known as "Accumulator" or "Multis".
How Does It Work?Parlays work by tying multiple bets together and ensuring these bets win. This increases the risk attached as is reflected in the increased amount of accumulated odds.
Now, calculating the odds in a parlay ticket is quite straightforward if using the decimal odd system. So if you stake on three games, multiply all the odds together then multiply the result by your wager amount. You can then remove your original stake amount from the result to determine your actual payout.
For instance, if you stake $10 on three games of 1.5 odds each, you can calculate your payout as follows:
- 1.5 x 1.5 x 1.5 = 3.375
- 3.375 x $10 = $33.75
- $33.75 - $10 = $22.75
Thus, your total payout from the accumulator is $22.75.
Rewards Of Parlay Betting
Increased PayoutsThe major attraction of multi bets is the possibility of getting higher returns from your stakes compared to when wagering on conventional single bets. Since accumulator bets combine more than one selection into a single bet, the odds multiply. This results in a greater overall yield if all selections are correct.
Small Stakes, High YieldIn accumulators, you don't have to worry about staking a huge sum of money before getting substantial returns unlike with singles. Single wagers often offer lesser odds and this means that your return can only be substantial if you stake quite high on them. But this is not so with accumulators. Multis makes the betting scene more lucrative by multiplying your odds and increasing your potential returns even with staking a small amount of money.
FlexibilityOne advantage that accumulators also have is that they allow for flexibility. With this kind of betting option, you are not limited to selecting the same league or even the same sport. You are at liberty to explore a wide range of options.
HedgingMultis wagers also come in handy when players need to hedge their other bets. These multis act as insurance against potential losses in other wagers. In addition to this, they also help minimize risks while still aiming for a sizable payout.
What Are Some Of The Risks?
All Or NothingThe nature of parlay wagers makes them an all-or-nothing high-stakes kind of venture. This is because if a single game loses, then the whole bet tanks. This nature which accounts for the potential huge wins or complete loss thus means bettors are more exposed to substantial losses than they would normally be if playing single bets.
House EdgeWith single-game wagers, the house edge is often in favor of the punter but this is not so in the case of parlays. When it comes to parlays, bookies make more money because combining bets in a parlay means you are substantially increasing the house edge. Thus, the more bets you add to your parlay, the more the bookies' house edge.
Quicker Bankroll DepletionA good punter would stick to a bankroll before placing bets but with parlays, this bankroll may end up depleted at a faster rate. The main reason for this is that accumulators come with the promise of big wins so if you're not careful, you may get tempted to spend extravagantly. As such, expert punters know that it is best to focus on more conservative wagers instead.
Final TextParlay bets come with very enticing rewards but it is important to remember it is not risk-free. As such, it's best to take a careful approach to this betting option in order to minimize the risks associated. Good luck!
Author: Juan Solamanecer
Created: 3 October 2023
Last updated: 4 October 2023
Juan Solamanecer is a freelance writer who writes football articles with great empathy. He writes about topics, clubs and players that interest him and that he finds may interest others. With his base in San Sebastian, he follows the city's pride Real Sociedad extra closely.