Parlay betting is a popular way to bet on sports, especially among casual fans. A parlay bet is a single bet that links together two or more bets, usually involving different events. If all the events in the parlay bet occur as predicted, the bettor wins the entire amount of their original bet plus any winnings from the linked bets. However, the entire bet is lost if even one event does not occur as predicted.
Parlay betting can be a great way to win big payouts, but it is also high risk because all the events in the bet must occur as predicted for the bettor to win. For this reason, you must understand how parlay betting works and be selective when placing parlay bets.
The following is a Parlay Betting Guide that will help you better understand how this type of betting works:
Best Parlay Betting Sites in Canada
There are plenty of excellent parlay betting sites out there for Canadian bettors to choose from. But which ones are the best?
Here at Betting.ca, we’ve compiled a list of the top parlay betting sites in Canada based on several factors, including odds, bonuses, and more.
If you’re looking for the best parlay betting action, check out one of these top sites.
What is a parlay bet?
A parlay bet is a single wager of two or more individual bets. The individual bets that make up a parlay can be on any sporting event, but they are usually on football or basketball games. If all of the bets in the parlay win, then the bettor will win a larger payout than if they had made each bet separately. However, if even one of the parlay bets loses, the entire bet is lost. Because of this, parlay bets are often seen as riskier than making individual bets.
Parlay bets can be found at most online sportsbooks and casinos. Some bookmakers also offer them. To place a parlay bet, the bettor will select the individual bets that they want to include in the parlay and then make a single wager on the entire parlay. The odds for a parlay bet are calculated by taking the odds of each bet and multiplying them together.
For example, let’s say that a bettor wants to make a three-team parlay bet on the following games:
Game 1: Team A is a 2.5-point favourite
Game 2: Team B is a 5-point favourite
Game 3: Team C is a 3-point underdog
The odds for each bet would be as follows:
Game 1: Team A (-2.5)
Game 2: Team B (-5)
Game 3: Team C (+3)
To calculate the odds for the entire parlay, the bettor would take each game’s odds and multiply them. In this case, the odds for the parlay would be 2.5 x 5 x 3, or 37.5. This means that for every $1 bet on the parlay, the bettor would win $37.50 if all three bets won.
Parlay bets can be made on anything from two teams to 10 teams. The more teams that are bet on, the higher the potential payout will be. However, the odds of winning a parlay bet increase as the number of teams included in the bet increases. A two-team parlay has better odds than a 10-team parlay, but the potential payout is much higher for the 10-team parlay.
Parlay bets are a popular way to bet on sports, but they are also one of the most difficult types of bets to win. Because all of the bets in a parlay must win for the bettor to win, it is very difficult to hit all of the correct predictions. For this reason, parlays are often seen as more of a gamble than individual bets.
However, the potential payouts can be much higher than individual bets, which is why many bettors still choose to make them.
Parlay Betting in Canada
If you’re looking for a way to make your sports betting more exciting, you should consider parlay betting. With parlay betting, you can bet on multiple games or events and potentially win a lot of money.
Parlay betting is very popular in Canada, and there are many ways to place a parlay bet. You can bet on multiple games in a single day, or you can even bet on multiple games across different days or weeks.
The sky is the limit when it comes to parlay betting, and there are plenty of opportunities to win big. So, if you’re looking for a new and exciting way to bet on sports, you should definitely consider parlay betting.
Best sports betting markets for parlay betting
Parlay betting is worth considering if you’re looking to make serious profits through sports betting. But of course, not all sports are created equal when it comes to parlays. So which ones should you be focusing on? Here are the three best markets for parlay betting:
Football is easily the most popular sport in the world, and it’s also one of the best for parlay betting. This is because there are so many different bets you can make on football games. You can bet on who will win, the final score, how many touchdowns will be scored, and much more. There are plenty of opportunities to find value and make some serious profits.
Basketball is another great sport for parlay betting, for much the same reason as football. Again, you can make many different bets, including who will win the game, what the final score will be, how many points will be scored in total, and so on. There are plenty of chances to find value and make serious profits.
Baseball may not be as popular as football or basketball, but it’s still a great sport for parlay betting. Again, this is because you can make many different bets, including who will win the game, what the final score will be, how many runs will be scored in total, and so on.
So if you’re looking to make some serious money through sports betting, these are the three best markets for parlay betting. Football, basketball, and baseball offer plenty of opportunities to find value and make serious profits. So if you want to get started in parlay betting, focus on these three sports.
Parlay Betting Tips
If you’re looking to make some serious money through sports betting, you need to learn how to bet on parlays. A parlay bet is a single wager that combines two or more individual bets into one ticket. If all of your selections win, then you win the parlay and can collect a sizable payout.
However, it’s important to note that parlay betting is not for everyone. The reason is that all of your selections must win for you to cash in on the bet. This can be a tall task, especially if you include multiple games on the same ticket.
But if you’re up for the challenge and feel confident in your selections, then parlay betting can be an extremely lucrative way to make some money.
Here are a few tips that will help you become a successful parlay bettor:
1) Do your research
This is paramount regardless of what type of bet you’re making. But it’s especially important when placing a parlay bet. You need to make sure you’re thoroughly researching each and every one of your selections to give yourself the best chance of success.
2) Stick to two or three selections
While you can technically include more games on your ticket, it’s generally not recommended. The more games you include, the harder it will be to win the bet. So, it’s usually best to stick to two or three selections.
3) Avoid risky bets
When placing a parlay bet, you’re obviously looking to boost your potential payout. However, you don’t want to include too many risky bets on your ticket. Remember, all of your selections must win for you to cash in on the bet. So, it’s best to play it safe and include a mix of surefire bets and slightly more risky bets.
4) Shop around for the best lines
This is another important tip, regardless of what type of bet you’re making. But it’s especially important when placing a parlay bet. Remember, each selection on your ticket must win. So, you want to ensure you’re getting the best possible odds on each game.
5) Know when to walk away
There will be times when you can’t seem to find a winner. Maybe you’ve lost a few close games in a row, or perhaps you’re just not feeling confident in any of the games on the board.
If this is the case, it’s best to walk away and live to fight another day. There’s no shame in admitting defeat, and there’s no reason to throw good money after bad.
Parlay betting can be extremely profitable if you do it right. But it’s also very risky. So, make sure you’re using these tips to give yourself the best chance of success.
Parlay Betting Conclusion
Parlay betting can be a great way to win big money, but it is also risky. If you are not careful, you can quickly lose all of your winnings. Always remember to bet responsibly and never bet more than you can afford to lose.
If you are looking for a safe and secure way to bet on sports, then parlay betting is not for you. However, if you are willing to take a risk and are looking for a way to win big potentially, then parlay betting may be the right choice. Just remember always to bet responsibly.
Parlay Betting FAQs
The largest parlay payout on record was for a bet placed in 2001. The bettor wagered $640 on a 16-team parlay and won $2.5 million.
Most online sportsbooks offer the ability to place parlay bets. Create an account with a sportsbook and deposit funds into your account. Once you have funds in your account, you can begin placing bets.
A parlay card is a physical card that is used to place parlay bets in brick-and-mortar sportsbooks. Parlay cards are filled out by hand and then taken to a teller to place the bet.
The odds of winning a parlay bet vary depending on the number of individual bets made. The more individual bets that are made, the higher the risk and the lower the chances of winning.
A push is when a bet results in neither a win nor a loss. This can happen if the final score of a game lands on the betting line exactly or if there is some other type of tie.
The vig, short for vigorish, is the fee sportsbooks charge for taking bets. The vig is usually expressed as a percentage of the bet amount and is added to the bettor’s loss if they lose their bet.
A bad beat is when a bettor loses a bet they should have won. Bad beats are often the result of a late score or some other type of freak occurrence.
The house edge is the advantage that the sportsbook has over the bettor. The house edge is usually expressed as a percentage and represents the amount of money the sportsbook expects to make on average.
A parlay calculator is a tool that can be used to determine the potential payouts of parlay bets. Parlay calculators consider the odds of each game and the number of games in the parlay.