Need help understanding Parlays.

[borednaz]

As you can tell I'm really really new at handicapping just by the title. I've been reading alot and learning so thank you to everyone here for the information. However the one thing I can't figure out is Parlays, hedging, and insurance?

Now I understand the basics. Bet 2-15 teams with 1 single amount. Let the whole amount ride on every team in the series of picks. Hope to get the big pay off. What I do not get is everything there after. Would anyone please be kind enough to help a new guy out?

Thanks in advance,
Borednaz

[VTranX]

what after? if you hit all of the picks then you win the parlay. but if you lose 1 or more picks then your parlay is dead.

[borednaz]

Thank you for replying. I guess to better explain I was reading the $20 to reach $3.9k thread. At the end they kept talking about hedging/insurance? That's what I meant by after.

[Truth Be Told]

dont bet 20$ expecting to win 4k theres a reason the payout is so large its almost impossible to hit parlays of that many teams

[borednaz]

Thank you truth be told. I don't ever intend on going that big. But a 3-4 pick parlay might be fun on occassion.

[RANDAZZO]

2-3 are the only ones I play. Every now and then a 4.

[Truth Be Told]

Thank you truth be told. I don't ever intend on going that big. But a 3-4 pick parlay might be fun on occassion.

yea i do those also usually 2-3 ones but not too often

[borednaz]

I just know baseball has been hitting me hard. Football I always seem to double up. So I figure I might do a few parlays to try and get back to even.

[JosephPavs]

I just know baseball has been hitting me hard. Football I always seem to double up. So I figure I might do a few parlays to try and get back to even.

Chasing losses usually leads to greater holes.... Play smaller till you get back on the right tails....

Hedging/Insurance as you were asking about means that he had a 20 bet to win 3.8K He won 6 of the first 7 bets so the last bet could either go Win Or Loss. He could have bet 1800 on the losing side so he either cashes out 3.8K and loses the 3.8K bet or Wins the 1800 bet and loses the 3.8K Either way he is up 1800 but thats what hedging is.... Basically you are guarenteing money in your pocket vs risking 20 to win 1800. He lost that last game and didn't hedge so he lost 20... Or if you want to look at it the other way he lost 1800

[eberetta1]

Thank you for replying. I guess to better explain I was reading the $20 to reach $3.9k thread. At the end they kept talking about hedging/insurance? That's what I meant by after.

You would use hedging or insurance, like if on Sunday, you had alot of your parlay games, and the last game is a Monday night game. If it says you won 8 of your games and if winning that Monday night game pays $1600 (if Team A wins). If your original ticket cost you $20, you would want to lock in some profit. So for insurance I would bet $400 in the opposite direction(I'd choose Team B) of whatever the pick you chose on the Monday night game on the parlay. So the $400 (Team B win)would win the Monday night game that is a straight up bet, or if the Parlay (Team A wins)game won the monday night game, you would win $1600-$400 for a profit of $1200. Which sure beats a profit of zero.

Hope this clears up any confusion. I do not like parlays, I have more luck with even up bets.

[icancount2one]

The only time parlays are a really good idea is when they're correlated, like if you take a heavy favorite and parlay it with the over.

When someone is talking about insurance or hedging a parlay, it means their parlay has come down to the last game and they realize they'd rather guarantee that they win 500 than take their chances at 1000 or 0. These are the best when the line has moved and you can take a shot at hitting a middle.