Parlays are a contentious subject amongst serious gamblers. Some people feel that parlays are sucker bets with weak odds that only appeal to people looking to make a big payout. However, many other top gamblers rely on parlays as a major part of their betting system. If you have a sound parlay betting strategy, you can use it to your advantage to set yourself up for major success in the long run.
The major negative about betting parlays is that you need to be perfect – or at least almost perfect – in order to win any money. Many people see the huge odds that can be won by playing a large parlay and wind up being disappointed when, for example, a 5-2 card nets nothing. If you want to play parlays, it make more sense to spread your bet around multiple smaller parlays of two to four teams. You can also choose to make the last game of your NFL parlay be a Sunday night or Monday night game, giving you the option to hedge or press your bet if you are close to a winning card.
When betting parlays, it’s important to do the research on the different payouts that are available. Certain online sportsbooks will offer payouts that are more generous than the standard Las Vegas sportsbooks. The parlay payout tables should be available on the each sportsbook’s website, making it easy for you to do the research. The different between a 5-to-1 payout versus a 6-to-1 payout could make a big difference in your overall profits and some sportsbooks will have better odds for smaller or larger parlays than their competitors.