Parlays are often considered a suckers bet and only amateurs bet parlays. Filling out parlay cards with the hope of Live Cryptocurrency Prices, Charts & Portfolio winning a 5 or 6 team parlay is a suckers bet. However, limiting a parlay with a 2 or 3 team combination can be a good hedge strategy. When you win the first part of your parlay, you have the option or hedge to the second part of your parlay that has not started yet. If the numbers are right, you can bet on the opposite side of your parlay bet and squeeze out a smaller profit or limit your losses. A two piece betting parlay payout is based on the odds on the first half of the parlay winnings shifted or “parlayed” onto the second half parlay bet.

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A victory for the favorite’s likely to include beating the spread, two correlated events which you may be allowed. When these three bets are parlayed, the winnings and the original stake combine into the next wager. As a result, the first bet wins $200 for a $100 wager on +200, while the second wager takes the $300 total and wagers it at +100, increasing the payout to $500. The third part of the parlay involves a -300 bet for the original $100 wager along with the $500 payout, lifting the overall payout to $700 on your initial $100 bet.

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SMU closed as the one-point favorites for college football picks, but a fluke ending to the game denied the Mustangs from what might have been a victory in overtime. For casual punters looking to have some fun, forget everything mentioned above and go have some fun. Keep in mind, if you’re going after a large parlay, don’t risk money you cannot easily afford to lose.

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If you have an early loss, the whole parlay is also lost and the fun stops right there and then. Let’s break down the specifics of a parlay bet and how one would make such a bet at a sportsbook. Every bettor, especially sports bettors have their good days and bad days. The key to betting is always to minimize losses on your worst days while getting maximum returns on your best days. The players can select 6-, 6 1⁄2-, 7-, 10- and 14-point Teasers. The Half-Point, Teaser and Super Teaser parlay cards will carry all totals.

Keep in mind the earlier advice to limit your parlay card to three or four teams, and for the time being, skip the point spread, just choose teams to cover. However, payoffs as high as and even are offered for half-point parlay cards. The true odds of hitting parlays start at 7-1 for a 3-teamer and end at 1,023-1 for a ten-teamer, so don’t get your hopes up for a 10-game winner.

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Selecting teams in multiple sports can allow bettors to stick to the games that they have an edge on and employ strategies more broadly using different betting markets. Point spread parlays are one of the most common types of parlays that are made by parlay bettors. Betting on point spreads usually creates relatively even odds for both sides of a match.

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Just to ram home the point about the odds involved, we chose three moneyline favorites to populate our parlay here. To reiterate, each of these choices is expected to win their game. In a sense, these outsized payouts are not unlike lottery winnings. A bettor who successfully predicts a string of unlikely events has beaten very long odds, indeed. We recommend limiting yourself to $5 wagered on NFL parlays on a given Sunday, and to use them as a way to hedge your bets. As an example, let’s say you’ve bet on the New England Patriots, the San Francisco 49ers, and the Green Bay Packers to win their games, and they are all favored.