sports betting parlay picks
Sports Betting Parlay Picks
Here at Pickswise, our expert handicappers are always working to find you the best free parlays picks․ With a plethora of sport played on any given day, any time of the year, we post our daily picks and parlays, well, daily․ You can find all of our parlay picks, right here on the designated Pickswise parlays page every morning․
What is a Parlay Bet?
In the world of sports betting, a parlay bet stands out as an exciting and potentially lucrative option․ It involves combining multiple individual bets, known as “legs,” into a single wager․ The catch? To win a parlay bet, all of your selected outcomes within the combined bet must be correct․ This means if even one leg in your parlay loses, the entire bet is lost․
Parlay bets are popular among bettors for a simple reason⁚ they offer the potential for significantly higher payouts compared to placing individual bets․ The more legs you add to your parlay, the greater the potential payout․ This alluring combination of risk and reward is what makes parlays so enticing․
Think of it like this⁚ instead of placing three separate bets on three different games, you can combine them into a single parlay bet․ If all three teams you selected win their respective games, you’ll reap a much larger reward than if you had bet on each game individually․ However, if just one of those teams loses, your entire parlay bet is lost, even if the other two teams won․
Parlay bets are a thrilling way to potentially multiply your winnings, but they also come with increased risk․ It’s crucial to understand the dynamics of parlays before diving in headfirst․
Parlay Betting Strategies
While parlay betting can be enticing due to the potential for high payouts, it’s essential to approach it strategically to maximize your chances of winning․ Here are some key parlay betting strategies to consider⁚
- Focus on Smaller Parlays⁚ While the allure of massive payouts from large parlays is tempting, it’s generally wiser to focus on smaller parlays, such as two or three-team parlays․ The odds of winning increase significantly with fewer selections․
- Research and Value Bets⁚ Thoroughly research each leg of your parlay, looking for value bets where the odds offered by the sportsbook might be slightly higher than your perceived probability of the outcome occurring․ Finding even small edges can make a difference in the long run․
- Consider Correlated Parlays⁚ Explore correlated parlays, where the outcomes of two or more legs are related in some way․ For example, in a football game, you might parlay a team to win with the over on total points scored․ If the team performs well offensively, both legs are more likely to win․
- Shop for the Best Odds⁚ Different sportsbooks offer varying odds on the same events․ Take the time to shop around and compare odds to ensure you’re getting the best possible value for your parlay bets․
- Manage Your Bankroll Wisely⁚ As with any form of gambling, responsible bankroll management is crucial․ Set a budget for your parlay betting and avoid chasing losses․ Don’t bet more than you can comfortably afford to lose․
Remember, parlay betting is inherently risky, but by employing sound strategies and making informed decisions, you can increase your chances of landing a winning wager and enjoying the thrill of a big payout․
Calculating Parlay Odds and Payouts
Understanding how parlay odds and payouts are calculated is crucial for making informed betting decisions․ Here’s a breakdown of the process⁚
1․ Converting American Odds to Decimal Odds⁚
Most sportsbooks in the United States display odds in American format (e․g․, -110, +200)․ To calculate parlay odds, it’s easier to convert them to decimal odds⁚
- Negative Odds⁚ Divide 100 by the negative odd (ignoring the minus sign) and add 1․ For example, -110 becomes (100/110) + 1 = 1․91 (rounded to two decimal places)․
- Positive Odds⁚ Divide the positive odd by 100 and add 1․ For example, +200 becomes (200/100) + 1 = 3․00․
2․ Multiplying Decimal Odds⁚
Once you have the decimal odds for each leg of your parlay, multiply them together to get the overall parlay odds; For example, a three-team parlay with odds of 1․91, 2․20, and 1․75 would have overall odds of 1․91 x 2․20 x 1․75 = 7․38 (rounded to two decimal places)․
3․ Calculating the Payout⁚
Multiply your stake (the amount you bet) by the overall parlay odds to determine your potential payout․ For instance, if you bet $100 on the parlay in the previous example with odds of 7․38, your potential payout would be $100 x 7․38 = $738․
Remember that the payout includes your initial stake, so your profit would be $638 in this case ($738 ― $100)․
Types of Parlay Bets
Sportsbooks offer a variety of parlay bet options to cater to different betting preferences and risk appetites․ Here are some common types of parlay bets⁚
1․ Moneyline Parlays⁚
These involve combining moneyline bets from multiple games, where you simply predict the winner of each game․ For example, you could create a moneyline parlay with the Lakers, Celtics, and Bucks all winning their respective games․
2․ Point Spread Parlays⁚
These combine point spread bets, where you factor in the point spread for each game․ For instance, you might bet on the Warriors to cover a -4․5 point spread and the Suns to cover a +2․5 point spread in a two-team point spread parlay․
3․ Over/Under Parlays⁚
These parlays involve combining over/under bets, focusing on the total combined score of two or more games․ For example, you could bet on the over in a Lakers vs․ Clippers game and the under in a Celtics vs․ Nets game․
4․ Same-Game Parlays (SGPs)⁚
SGPs allow you to combine multiple bets from the same game into a single parlay wager․ This could include combining point spreads, moneylines, and over/under bets for a single game․
5․ Teaser Parlays⁚
Teasers let you adjust the point spreads or over/under totals in your favor, but they typically come with lower payouts․ For example, you could “tease” a 6-point favorite down to a 3-point favorite in a teaser parlay․
Maximizing Profits with Parlay Betting
While parlay betting is inherently risky, strategic approaches can help maximize potential profits⁚
1․ Focus on Quality over Quantity⁚
Avoid creating excessively long parlays with numerous legs․ The more legs you add, the lower the probability of winning, even if each individual leg seems favorable․ Stick to parlays with a manageable number of legs where you have higher confidence in the outcomes․
2․ Seek Out Correlated Parlays⁚
Look for opportunities to combine bets where the outcomes are somewhat related․ For example, betting on a team to win and the over in the same game can be a correlated parlay․ If the team performs well offensively to secure the win, it’s more likely the game will go over the total score․
3․ Shop for the Best Odds⁚
Odds can vary slightly between different sportsbooks․ Take advantage of this by comparing odds across multiple platforms and placing your parlay bets where you find the most favorable odds․ Even small differences in odds can significantly impact your potential payouts over time․
4․ Utilize Hedging Strategies⁚
As your parlay progresses and multiple legs win, consider hedging your bets to secure some profit or minimize potential losses․ Hedging involves placing additional bets on the opposite outcomes of your remaining parlay legs․
5․ Manage Your Bankroll Responsibly⁚
Only wager a small percentage of your overall bankroll on parlays․ Due to their higher risk, it’s crucial to avoid chasing big payouts and risking substantial portions of your betting funds on single parlay wagers․
Remember, maximizing profits with parlay betting requires a combination of careful selection, strategic thinking, and disciplined bankroll management․