Parlay betting is considered to be an “exotic” type of bet where you are betting on a collection of different teams in numerous games, but within the same betting category. If all of the teams that you bet on win or tie, then you will win the parlay. If even just one of the teams that you bet on loses, the parlay is lost. Even if you bet on 10 teams and 9 of them win but 1 loses, then your bet is still a loss. The bigger the parlay is, the harder and smaller the chance of you winning, but it will come with the biggest probable payoff. In other words, bigger parlays equals bigger risks, which in turn equals bigger rewards, if you win that is.
Calculating Soccer Parlays
* Please see illustration below to help understand parlay bets, text explanation follows.
For example, you are betting on a 2-team parlay in the English Premier League:
You are betting that Liverpool will win and that there will be a draw in the Arsenal/Fulham match. For you to win this parlay, both of your predictions and bets have to come true. If Liverpool loses or if the Arsenal/Fulham game is not a draw, then you lose the bet.
Let us say you bet $100 on the parlay. As you predicted, Liverpool beats Chelsea so you get (2.30 – 1) * 100 = $130 ($230 total) plus the prediction of a draw between Fulham and Arsenal, it would become (2 – 1) * 230 (from the 1st game win) = $230. Both wins will thus bring you a $360 profit! For that to happen in a regular money line, you would have had to bet a big underdog at 4.6, which rarely happens.
Following this logic, you could even get higher payouts if you bet on 3 or 4 or more team parlays. However, even if one of the games does not end the way you predicted, you lose your bet, hence the higher risk to these tempting rewards.
Soccer Parlay Betting Strategies
From a mathematical and practical point of view it is usually not recommended to put size-able bets on more than five parlays. The chances of you winning will simply be too small. You should bet less on bigger parlays since you stand a small chance of winning anyways. If you lose, it will not affect you as much and, if you win, you will still come out with a nice profit from your original bet.
Many people consider parlay bets to be “sucker” bets since not only do you have a small chance of winning, but also the odds are skewed against you. For example, true odds of hitting a ten-team parlay are 1,023 to 1, while the payoffs will be around 600 to 1. This places a bettor at a huge disadvantage and should make him think twice about wagering on big parlays.
Bet Less on Expensive Favorites
Another interesting tip within the soccer parlay betting tips that we can give you is to bet less money on big favorites. For example, you want to bet on several big favorites at -300, -400 and -350 (we are using American Odds here to emphasize this point). You do not really want to bet a lot of money but if you want a decent return then it is going to cost you. In this case it might make sense to use parlays. A lot of the time a three-team parlay will still be cheaper to bet on than just betting on one of the favorites. This is because you are less likely to win, so the odds are adjusted. Thus, a three-team parlay like that might actually cost you -150 in the end. In other words, by betting on parlays you can increase your parlay odds. You should still be careful however and consider all of the associated risks.