If you're into football betting and find placing regular bets a bit monotonous, plus they don't yield substantial rewards upon winning, why not try parlay betting? Parlay betting is a method that offers you a significant payout ratio upon winning. So, what is parlay betting and how does it work? All your questions will be answered in this article by Wintips.
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What is Parlay Betting?
Parlay betting in football is also known as "Mix parlay." It's a type of wager where you can place bets on various outcomes of different matches on a single betting slip. This is essentially combining multiple bets into one. Typically, in a parlay bet, you're allowed to combine a minimum of 2 selections and a maximum of 10 selections. The potential winnings increase as you add more selections, but so does the associated risk.
According to betting tactics, the more selections you add to your parlay, the higher the chance that if even one of those selections fails, you'll lose the entire bet. This means that for a parlay to win, all the selections within it must be successful, ranging from ties to wins.
Calculating Parlay Betting in Football
Unlike regular bets, the potential winnings in a parlay bet are quite appealing, as they are calculated exponentially.
Parlay winnings=(bet amount * (A) * (B) * (C) ... (N)) - bet amount
Here, A, B, C, N are the odds corresponding to each selection in the respective matches. When you win a full bet, the odds are calculated as 1 + the odds. Conversely, if you only win half of a bet, the odds are calculated as 1 + (odds/2).
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Calculating Asian Handicap Parlays
This is a method where you combine multiple Asian handicap bets from different matches. The odds here are calculated based on Asian handicap odds. The formula for calculating Asian Handicap Parlay Odds is as follows:
Parlay Odds=Win odds x (1 + (half-win odds - 1) / 2) x ½ (half-lose odds) x 1 (tie odds) x (N) lose odds
For example, if you place a parlay bet on 3 matches, the possible scenarios are:
All 3 teams win.
2 teams win, 1 team half-wins.
2 teams win, 1 team half-loses.
Calculating European Handicap Parlays
Unlike Asian handicap parlay bets, calculating rewards for European handicap parlay bets is straightforward. You either win or lose the bet; there's no half-win or half-lose situation. The formula for calculating European Handicap Parlay Odds is:
Parlay Odds=Odds 1 x Odds 2 x Odds 3 x ... X Odds n.
This straightforward calculation can be applied to all your bets, and it's easy to choose your bets. This method rarely encounters the special scenarios that result in half-win or half-lose, providing better odds for winning the entire parlay compared to the Asian handicap.
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Conclusion
Parlay betting is a type of wager that can yield high rewards upon winning, but its associated risk is equally high. Hopefully, this article has clarified what parlay betting is, and if you decide to try this type of wager, we wish you good luck!