Parlay Betting: The Nature of Three or More Bets Into One

Parlay betting in 188bet is one slick betting option when it comes to updating your sportsbook since it saves you time and gives a high payout when played wisely. If you are an avid sports gambler but haven’t got time and patience to watch one game from start to finish, then parlay betting is for you.

What is Parlay Betting?

Parlay betting is described as a kind of wager that lets you make a bet on any betting options in a game—in the same ticket. You can get to create 2 bets on one game, 3 bets on another game—all in the same sportsbook sites and claim the full payout only if the entire wagers you made has won. If you lose one game, you’d lose any bets you created.

Parlay betting is applicable to any sports your site/casino offers. It usually covers three major betting options in sports gambling such as:

How Does it Work?

Parlay betting lets you wager on 3 or more bets on a game in one ticket. For example, you are watching a Football game between Manchester and Canterbury and want to bet on each team in different betting types—parlay gives you the chance to do so.

As stated, you can bet on each team all in Money line, Handicap and Total Bet. Sportsbook sites don’t’ give players exact odds for parlays, and payout calculation pretty has to do with a little mathematics.

How to calculate your parlay odd payout:

Example: Manchester, Canterbury, and Kensington are about to compete for a Football game against other three teams.  You decided to bet on all three respectively on the Money line. Their odds are:

Manchester:  -150

Canterbury:  +170

Kensington:  -120

Standard risk/wager amount: 100$

First, you need to know the multipliers would be for each game. Multipliers will determine your final payout calculation.

In order to do that, you need to follow the formula:

Wager + odds = total payout ÷ original odds = result (multiply and round off)

For the three teams:

Manchester: 150 to win 100 = $250 (total payout) then divide to original odds (150 ÷ 250 = 1.6666

Canterbury: 100 to win 170 = $270 ÷ 170 = 2.7

Kensington: 120  to win 100 = $220 = 1.8333

Now to get the true odds of parlay, the result of the three-team calculation will then be multiplied altogether.

1.6666 x 2.7 x 1.8333 = 8.2495

Then round that off, and you have 8.25 which includes the wager amount you staked, in a total of approximately 7.25 profit.

Is It A Profitable Betting Option?

Yes, and no.

Yes, because it allows you to bet on multiple games even if your bankroll is limited. You can win money all at once in an instant instead of waiting for one game to end and another to begin to accumulate payouts.

No, because Parlay Betting doesn’t offer true odds—you’re the one who’s going to do the odd calculation yourself, and you need to win all your wagered bets to gain the full payout of this Parlay one.

Compare single straight bets to parlays, parlay allows you to be the Jack of All trade in sports gambling even if it’s just for a few hours, rather than be the sole bettor for just one game. It saves time, gives high possible payouts and covers all betting types you like. If played wisely, this kind of betting can give a win-win situation.

Parlay Betting at 188bet Sports Book

That’s 3 bets into one—Parlay betting gives you smaller yet multiple bets in a single wager, and high possible payouts—as stated, if played wisely. Snap out of your single sports bets today and try to Parlay betting at 188bet Sports now!

 Register here for a 188bet Account to get premium access to 188bet’s live casino and sports betting platforms. 

Parlay Betting: The Nature of Three or More Bets Into One
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