This article will guide you while betting with Multiple Sports bets (or Parlays).
Single vs Parlay betting options; Odds explanation and calculation; Risk vs Profit.
If you are a Sportsbook fan, keep reading!
Multiple vs. Single Sports bets: Definition
While Single bets are bets with only 1 selection, Parlays (or Multiple bets) are bets with 2 or more selections within the same bet.
The settlement of these bets depends on the individual settlement of each selection.
Parlay Sports bet (Multiple bets)
In order to place a Parlay, you only need to add 2 or more selections to the same bet.
If any of the selections in the Parlay is a loss, then the entire parlay loses.
However, if all selections win, then the bettor/player gets a bigger payout.
Parlay Bets are an excellent option for situations where several events are taking place on the same day, for example, and a player wishes to place 1 (or more) bet(s) that covers more than one scenario into the same bet.
How to place a Parlay bet?
For example, if you wish to bet on two results in the same bet, making it a Parlay/Multiple Bet (or, in this case, a Double Bet), you simply need to add the two selections to your Bet Slip, as shown below:
Parlay Odds calculation
In this example, shown above, the bet would be a Parlay with 2 selections (Double Bet), and the Overall/Total Odds calculation would be:
- 1.47 (1st selection) X 3.32 (2nd selection) X 10 (your stake/bet amount).
In case of a favorable settlement, this bet would generate a return/payout of 48.804 USDT.
Once the Bet is confirmed, it would be subsequently shown on "My Bets" - "Active".
Risk vs Profit: Comparing both Betting Systems
- By placing a Single bet:
The player might experience less risk, once there's only 1 scenario/event/selection he(she)'s depending on.
- By placing a Parlay bet:
The player creates a higher risk but also generates a higher potential of winning, once all odds are multiplied between each other.
More selections equal more odds, which equals a higher risk, therefore a higher potential payout.
What do Odds represent?
Despite the aspects mentioned above, a Single Bet is not always/necessarily safer than a Parlay Bet.
The success of a bet will always depend on two elements, mostly: luck and odds.
A Parlay Bet with an overall odd of 5.00 is mathematically more likely to be successful than a Single bet with an odd of 7.00.
Overall, odds are a result of many aspects considered in order to reach a percentual amount that will represent "how likely" it is for a specific scenario (win/lose/number of goals/number of corners/handicap) to happen.