Most sports bettors know all about so-called sucker bets. A sucker bet is nearly always some version of figuring that betting more money will necessarily result on winning more money.
Unfortunately, without a definite edge, betting more money will nearly always result in nothing more than losing more money. The key differentiator then, is always edge. And edge and parlays are two concepts that should never be completely divorced from one another in the value-seeking bettor’s mind.
Here’s why.
Context Is Important
Consider the following scenario. You’ve browsed your way across a sports book that lets you bet on Russian hockey league totals. The sports book in question – having no interest at all in bothering to follow Russian hockey league games and developments – offers the market in question purely for the purpose of creating the illusion of “variety”.
The sum-total of the sports book’s efforts is every day insta-grabbing the opening lines from some obscure Russian news page and never even bothering to give those lines a second thought. Because nobody ever bets on them! Until you came along, that is.
Since you’re a special type of sports betting creature, you’ve managed to find out some things about Russia. You know, for example, that cold weather in Russia isn’t considered quite as inconvenient as cold weather in, say, New York – purely because Russian players are more accustomed to far-below-zero conditions than guys from New York City. As a result, you figure yourself in for the win simply by following the weather conditions in Russia and betting accordingly.
One of only few problems with this particular plan is that the sports book offering Russian hockey league bets – or whatever the case may be – will necessarily have put into place a safeguard preventing someone from taking them to the cleaners by striking it lucky. And so, the sports book limits you to bets no larger than $50.
Enter the magic that is the parlay bet.
Parlay Betting Is Smart Betting
While it may be true that not much remains to be done about set limits, there does exist a sneaky and smart workaround. And that workaround is called a parlay bet.
Imagine, for example, a scenario accepting bets on four games in total. Even betting on each and every one of those games will still only get you as far as $200.
Now imagine a scenario of being allowed to bet on those same four games – bet limit still intact – by betting on a three-game round-robin. Since you’re now betting on every combination of three out of the four games, you’ve suddenly got the benefit of additional betting volume at your disposal.
By going in on a parlay bet, as opposed to straight-up betting $50 a pop on all four games, you’ve just increased your betting volume from $200 all the way up to $600. And with absolutely no special secret to any of it, too.
Parlays can be a powerful tool in the right hands. When applied correctly, they’re great bets every time.