Are Parlays Bad Bets?

Are Parlays Bad Bets?

It is a great time to be a sports fan in the US. All four major sports are in season and there are a ton of betting options available. Some bettors have already cashed in with huge wins on parlay bets. But are parlays bad bets?

The appeal of parlays is that they offer the potential for huge wins. However, that comes at a huge cost. Parlays bets are very difficult to win, and many bettors never win one.

So, do the pros outweigh the cons? Or are parlays bad bets that players should stay away from? We will break down parlay bets and tell you which online casinos are the best for placing sports bets.

Are Parlays Bad Bets?

Parley wagers give bettors a chance to win huge paydays even if they are only staking a small amount. The more parts, or legs, that you add to the bet, the more you can potentially win. But, if even one leg misses, then the whole bet is lost.

Are these bets worth the risk? Or are parlays bad bets that people should stay away from?

Every bettor has their own preference about betting types and how much risk they find acceptable. Parlays can be a fun way to turn a few dollars into five, even six figures. In general, though, these are sucker bets that most people should stay away from.

If you are wagering just for fun, then parlays are perfectly fine. Most bettors are trying to win, though. As a result, many experienced bettors choose to stay away because parlays are bad bets.

Why Are Parlays Bad Bets?

What is it that makes parlays bad bets? Simply put, the odds of winning are too low to make it worth the risk. Many players are drawn in by the potentially huge payouts and do not realize how much they lose over time.

Sportsbooks know just how attractive parlay payouts can be. Many sites have even started advertising special same-game parlays to players. Sports betting sites also usually feature a parlay builder that makes it easy for you to make same or multi-game parlay bets.

All of this effort is done for one reason, to make money. Operators know that inexperienced players will be drawn in by the possibility of a huge payday.

Sadly, the fact of the matter is that most parlays will lose. As a result, this creates a huge house edge for sportsbooks. Sports betting sites earn more than enough off of losing parlays to pay out the few that actually win.

Can Parlays Be Good Bets?

Most parlays are bad bets, so why do people keep making them? Well, there are two main reasons why you would make a parlay bet. Either you do not know they are bad, or you do not care.

Simply put, many first-time parlay bettors do not understand how bad their odds of winning actually are. They see how much money they can win and start betting. This is a huge mistake, and many plates quickly learn how hard it is to actually win parlay bets.

Another reason why people make parlay bets is that they do not care about the risk. This can be because of how low their stake is or because they are okay with losing.

No one wants to lose their bets, but some bettors have more than enough money to spare. As a result, they can place sizeable wagers on parlays and still be okay if they lose. Others place small wagers, often just a few dollars, on huge parlays that have massive prices.

In these scenarios, parlays are still not the best betting option, but they are not terrible. Still, if you want to avoid throwing money away, you should stick with other types of sports bets.

Other Types of Sports Bets

So, as you can see, for most people parlays are bad bets. Luckily, there are plenty of other options for betting on sports. Here are some of the other types of bets you can make instead of parlays.

Moneyline

The most basic bet you can make on any sporting event is a moneyline bet. These simple wagers are a great way for new bettors to get in on the action. They are also good for experienced bettors who want a simple way to win some money.

All you need to do to win a moneyline wager is place a bet on the winning side of the wager. For instance, you will win if you correctly bet on which team will win the game. Mastering moneylines is one of the first steps to becoming a great sports bettor.

Point Spread

Another easy bet to learn is point spreads. These wagers require a player or team to win an event by a certain margin. For instance, a team must win a game by a set number of points in order to “cover” the spread.

Point Spreads Add a New Level of Complexity to Sports Betting

A team may win the game, but you could lose the bet if they do not score enough points. Conversely, you could bet on an underdog to cover the spread even though they may lose the game.

One of the best parts of point spreads is that they can make any game exciting. Even huge mismatches can have huge betting value with the right points spread.

Totals Wagers

Totals bets are another great way to get in on the betting action. These bets are easy to learn as well. All you need to do is correctly predict if the market will go over or under its set total. This could be total points, yards, or any number of other topics.

These can be trickier than they initially appear. Totals bets are easy to grasp, but you should still be careful when you are placing them. They require just as much research and planning as other betting options.

Prop Bets

Another popular betting option that you will come across is prop bets. These wagers can cover a wide variety of topics. You can bet on everything from the results of a coin flip to the outcome of midterm elections.

It is easy to get drawn into prop betting because of all the different markets available. These bets are a lot of fun and are available on just about anything you can think of. You can even use prop bets to bet on live games as they are happening.

Teasers

All of the bets above are great single wagers that you can make. However, they cannot compete with the excitement of parlay bets. Yes, parlays are bad bets, but they also offer huge wins by combining multiple wagers.

One way to have the fun of parlays without as much risk is to use teaser bets. These bets combine multiple bets into one ticket, similar to parlay bets. However, they also allow players more flexibility in the odds of each wager.

For Instance:

You could wager on your favorite team to win by 1.5 points instead of 7.5 points. As you can imagine, this makes it much easier for you to win the bet. The odds are not as profitable, but you will win more over time than with strict parlay bets.

How to Bet on Sports Online

Top Betting Sites

Rank

Betting Site

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1.

BetUS
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Bovada
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BetOnline
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XBet
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BetNow
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BetNow is a fairly small gambling site, with only about 100 casino games. But, they make up for it with their great customer service, good bonuses, and robust sports betting library. BetNow is available throughout most of the USA, with the exception of 6 states.

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GTBets
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Bodog is the sister site to Bovada, and they’ve also had a long history of great online gambling services. No matter your gambling preference–poker, casino games, or sports betting–Bodog has options for them all, as well as unique bonuses for each portion of their site!

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Betway
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Betway has been a big name in the European gambling scene, and they are particularly well-known for their esports betting options. But, that doesn’t mean you can’t enjoy some casual slots or table games at their diverse online casino!

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Ivibet
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Sports Interaction
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22Bbet
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888sport
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22Bet
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Betway
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It’s a shame that 22Bet isn’t available for US players, because they promise 48-hour payouts and have a very large selection of banking options. Plus, their games aren’t bad either, with titles from more than 100 software providers.

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Betway
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Betway has been a big name in the European gambling scene, and they are particularly well-known for their esports betting options. But, that doesn’t mean you can’t enjoy some casual slots or table games at their diverse online casino!

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Regardless of the types of bets you choose to make, you will need a great sportsbook to bet on sports. The best real money sports betting sites offer a variety of betting types for you to choose from. This allows you to be more flexible with your sports betting strategy.

Finding a great sports betting site can be easier said than done, especially for new bettors. That is where our sports betting experts can help. We have completed thorough reviews of dozens of sportsbooks over the years.

The sites above all have great banking methods, fantastic bonuses, and intuitive user interfaces. All of these features combine for a great player experience. Our recommended sportsbooks are also safe betting sites to use and will keep your personal information secure.

After picking a site from the list above, you will need to sign up for an account. Our recommended sites make this process super quick and easy. Then, you will need to make a deposit, so you have funds to wager with.

Before you make a deposit, make sure you check to see if the sportsbook offers welcome bonuses. These offers can dramatically increase your budget for betting on sports. Once your deposit hits your account, you can begin betting on all of your favorite sports.

Conclusion

There are plenty of factors that make parlays bad bets. Thankfully, there are a ton of other ways to bet on all of your favorite sports. Check out our page about the essentials of sports betting to learn more about how to make winning sports bets.

You can also get betting advice from our sports experts right here.

The post Are Parlays Bad Bets? appeared first on GamblingSites.ORG.

Author: Henry Anderson