[Unitage]

Can they be more profitable than straight bets when doing 3bet parlays?
There is less risk of ruin in a single day, however since it takes a long time to hit the parlay im guessing that risk of ruin evens out as a bankroll gets depleted .
What are your thoughts on parlays?

[Peep]

They can be more profitable if you have a higher win percentage.

The math would be pretty simple. Just figure out 100 plays betting $100 and how many you would win. For example, if your plays hit 60% of the time you would win 36% of your two team parlays and 21.6% of your three team parlays.

[reno cool]

1.Nothing wrong with parlays. If you're a losing player the increased volatility will help your chances.
2.Justin had a good video on correlated parlays.
3.Your risk of ruin would depend on how much you're betting on the parlay vs straight. You would have to bet less on the parlay everything else being equal.

[vegasafternoon]

It is just mutiple parlays, and the good thing about them is if you lose one game you can still make money compared to using a parlay and one lose and you are done. You don't make as much but it is kind of a safer way to bet. You can lose a couple games on say a six team round robin and you win still get your money back. I tried just parlays and was getting smoked at the sports book. People told me to just bet on one game alone but I love to hit big parlays. I guess everyone does. Well to control my crazy parlay betting I started to use Round Robins and they at least keep me in the game.

[The General]

Welcome vegas and thanks

[BeatTheJerk]

Parlays have cost me over 20 thousand dollars in my short gambling career , which several times I lost the parlay by one game. I'm talking like 30 times which would have won me over 250,000 dollars "real talk". So what I'm saying is save your money bro and wager str8 bets only. It's hard enough to pick winners individually rather than parlaying a few !

[Justin7]

Parlays have cost me over 20 thousand dollars in my short gambling career , which several times I lost the parlay by one game. I'm talking like 30 times which would have won me over 250,000 dollars "real talk". So what I'm saying is save your money bro and wager str8 bets only. It's hard enough to pick winners individually rather than parlaying a few !

Parlays are fine, as long as you use them properly. A lot of times, you can get off market numbers with parlays.

A key point thought for parlays - Kelly betting suggests that your risk amount is divided by the odds of the payout. I've seen many parlay players blow out, because the don't follow this fanatically (or they are not playing with an advantage).

[jwunderdog]

I can't remember the exact fig. but I know if you hit 54% or better you will make more money with 3 team parlays especially if you can find better then 6-1 odds Verses betting -110 straight.

[Unitage]

I can't remember the exact fig. but I know if you hit 54% or better you will make more money with 3 team parlays especially if you can find better then 6-1 odds Verses betting -110 straight.

this is true, but the key is you must have an advantage/edge (ie 54%) if your a losing player you will lose more with parlays. Which may not make much sense but long term you would.

[jwunderdog]

this is true, but the key is you must have an advantage/edge (ie 54%) if your a losing player you will lose more with parlays. Which may not make much sense but long term you would.

A losing player will lose all his money eventually with either system.

[Dark Horse]

Excellent book on this topic is http://www.gamblersbook.com/product....5&cat=0&page=1

If you play four team parlays, you may find it easier to pick the single strongest bet in each of four different leagues than four plays from the same league.


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[Wrecktangle]

A key point thought for parlays - Kelly betting suggests that your risk amount is divided by the odds of the payout. I've seen many parlay players blow out, because the don't follow this fanatically (or they are not playing with an advantage).

IMO, these points cannot be stressed enough. Matter of fact, unless you are really, really familiar with Kelly Criterion, AND have nerves of steel, you absolutely should NOT use Kelly. Way too many folks over estimate their prior win % and/or do not understand their risk/reward ratios for each situation. This is NOT Blackjack where you can calc your EV easily.

[reno cool]

IMO, these points cannot be stressed enough. Matter of fact, unless you are really, really familiar with Kelly Criterion, AND have nerves of steel, you absolutely should NOT use Kelly. Way too many folks over estimate their prior win % and/or do not understand their risk/reward ratios for each situation. This is NOT Blackjack where you can calc your EV easily.

yes

[payingthejuice]

If you like playing parlays, then go with a ROUND-ROBIN .

You bet 3 teams/games (3 *2 teamers and 1 *3-teamer on 1 ticket)

For example, the bet will cost you $400... you would have to pay $100 per bet, since you have 4 bets going.
You stated you lose a lot of parlays by 1 game, so this is the safest way, you would at least hit 1 of your 2-teamers, and you will get a chunk of your money back

BUT if you win all 3 game, you win ALL 4 Parlays on the round robin. I got turned onto these during the summer at a sportsbook, I used to play parlays myself, now I just do straight bets. I make more money betting that way.

[marcoforte]

Excellent book on this topic is http://www.gamblersbook.com/product....5&cat=0&page=1

If you play four team parlays, you may find it easier to pick the single strongest bet in each of four different leagues than four plays from the same league.


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I concur with the book. Don P does an excellent job.

[Basten4]

I started using 2-3 team parlays for soccer bets and it has been profitable so far. I bet on heavy favorites and use modified martingale formula to chase. Never had to chase for more then 1 parlay though, my win rate for soccer is pretty high.

Thought about using parlays for baseball, but I am going to stay away from this for now. Althogh, if you bet on NYY/BOS parlay this season and chase, it still should be very profitable. The only thing is that I would do though is to make sure that the line is 2.0 or over... or at least very close to 2.0

You could probably do the same thing on BOS/LAL for basketbal this season.