Online Sports Betting: Parlay Betting Explained!

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Parlay Betting Explained

We can say that online sports betting is becoming increasingly popular among sports fans around the world, for various reasons. As a result, sportsbooks are now providing better services throughout different countries, offering local punters a wide range of betting options. I’d like to bet that even if you’re not an avid gambler, you’ve probably heard of parlay betting, as it is undoubtedly one of the most popular choices in 12Bet online sports betting picks.

However, have you ever wondered what parlay betting means? Well, in simple terms, we can say that it allows you to combine multiple bets into a single ticket. It not only makes things a bit more challenging to land a win, but you need to get every selection right to earn significant payouts. There’s more to it, though, and that’s why made this guide with some in-depth explanations on how parlay betting works in sports.

What Does Parlay Betting Mean?

First and foremost, let’s clarify this right away because you’re likely to come across two terms that essentially mean the same thing: Parlay and Accumulator. It primarily depends on where you’re based globally, but they’re not too different from each other.

Simply put, a parlay is a combination of multiple bets into a single big ticket. Punters have a vast range of possible combinations of outcomes and sports to add to their parlay sports betting, but remember that all selections within the parlay must be winning bets for you to win the parlay.

Online betting parlays are quite popular in different countries because the chance to earn such large payouts comes with a substantial level of risk.

parlay betting

Odds and Parlay Sports Betting

The truth is, it’s almost a guarantee that you’re joining a bookmaker anywhere in the world with a featured parlay sports betting option, because a lot of sportsbook are now legal, a lot of people are getting hook and recognizes its popularity. Keep in mind, as we mentioned earlier, you might come across different terms for parlay betting, so if you see words like ACCA, combo bets, accumulator, multiplier, or multi-wagers, don’t worry, because all of these fall under the terminology of parlay betting!

Regarding parlay odds, you’ll notice that they’re closely related to what happens in traditional single bet achievements, but with some key differences that explain the popularity of parlays per se. Remember when we mentioned one of the terms used for parlay is “multiplier”? That’s because it’s exactly what happens to the achievements added to your bet slip. The more folds or combinations you add to your parlay, the higher the payout will be in case each individual bet is a winner. Just pay attention to how the betting odds are presented on your screen, as there are several different formats, with the most popular being:

American (moneyline; -400)

European (decimal, 1.50)

British (fractional, 1/2)

There’s a consensus in the gambling world that the European odd format is the most straightforward and didactic for newcomers to understand, especially when it comes to parlays, as the math operation you’ll use to understand how the payout is calculated is the same. However, it’s not really crucial how you like it because you can always switch to a different format of your preference, as the payout remains the same, independent of the format that suits you best.

For example, if we’re talking about a four-fold ACCA, as mentioned, with odds of 1.50, 3.30, 1.80, and 2.50, all you need to do to find out your potential payout is multiply these four numbers, and then you get it. In this case, if you managed to land a winner on each individual bet, then with your initial stake multiplied by these numbers, you’d have a total payout of 22,275. Let’s say, if you bet $20, your earned payout would be $445.5, which isn’t bad at all, right?

Parlay Betting Rules – How Does It Work?

The rules for parlay betting are quite simple: the punter must have every single bet on the parlay be correct to win it. If, let’s say, one bet goes for an eightfold, and you end up hitting 7 out of 8, it doesn’t matter – the parlay will count as a lost bet, and the punter loses the stake without any winnings. However, if it’s an 8/8, then expect to see very lucrative and rewarding payouts.

Also, you can always combine different teams, outcomes, and even sports in your parlay. For example, you can bet on a win from the Boston Red Sox in MLB, Novak Djokovic winning the second set against Rafael Nadal, and add an NBA betting parlay involving the Boston Celtics scoring over 108.5 points in a game, and Mohamed Salah scoring from a free-kick against Chelsea. If everything goes as planned, congratulations, you’ll have a substantial payout!

ACCA bets are truly easy to use if you’re willing to take some risks, as they are more rewarding than regular single bets. For instance, if you go for a treble with odds of 1.70, 2.50, and 1.80 added to a parlay and considering a 1000 stake, you’d have a total of 7.65, so a payout of $7,650 in case every outcome is a winner. However, if we take this stake of almost $1000 and spread it across 3 separate single bets, then we’d consolidate it instead of multiplying it. In that case, you’d have a payout of $6,000 instead of $7,650 from the first example. In other words, your net profit would be as follows:

3 single bets with odds of 1.70, 2.50, and 1.80 with $1000 stake each = $3000 net

A parlay with odds of 1.70, 2.50, and 1.80 with a $1000 stake = $6,650 net

Parlays can be twice as good as single bets, but keep in mind they’re a bit tougher to land, as you need to get every single result right to win it.

Why Choose Online Parlay Betting?

Now that you’ve learned what parlay betting means, the different terms for parlay bets, and how the rules for parlay betting work, it’s time to look at some advantages of why you should consider parlays from now on:

Payouts: As we showed earlier, you can get higher payouts compared to simple single bets when it comes to ACCAs. If you’re a risk-taker, there’s no reason not to try them out!

Customize it your way: One of the main advantages of parlays is the number of options you can have at your disposal to build it the way you want. Mandatory, a parlay consists of two bets or a double, up to fifteen, which is almost like winning the lottery, depending on the achievements. Add different teams, outcomes, and even sports to build your parlay the way you want, and enjoy the process.

Conclusion

In conclusion, after delving into every aspectsurrounding online casino parlay betting, we can say that one of the main reasons it has become so widely popular and spread is because of its lucrative payouts, which are way higher than simple single bets, for instance. On the other hand, there’s also the element of risk, which is quite significant. You’ll be fine if you don’t have an issue with taking risks, though. We strongly recommend that you browse through our website and find the top parlay betting sites in the Philippines because they’re sure to offer fantastic ACCA deals that will provide you with insane payouts. Good luck and enjoy! 

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About Mathew Reynolds 100 Articles
Mathew Reynolds is a seasoned sports writer with over a decade of experience in the field. His commitment to factual, passionate, and in-depth sports journalism has earned her a loyal following of readers who value his unique perspective, extensive knowledge, and the genuine love he holds for the world of sports.