Why do so many people do parlays?

[Gaze73]

I don't know if people genuinely think that putting multiple -EV picks into a parlay them +EV.

E.g. there's a fav at -250 and someone might say "no value at these odds but good for a parlay"

It's not good for a parlay, it's a -EV leg of a parlay, therefore it shouldn't be there at all.

I believe that if you asked the average bettor if he'd bet on a coin toss at -110, he'd probably say no. But offer him a 5 coin toss multiple at +2400 and suddenly he thinks it's not a terrible bet.

[baazigar]

it’s the rushhhhh

[jjgold]

In United States at one of the most popular bets


Those parlay boosters and in game parlay

Books know gamblers are suckers

[Optional]

Just don't bet -EV odds. Straight or parlayed. Problem solved.

If you think they are +EV though, you are multiplying the +EVs by each other using a parlay.

[Mike Huntertz]

Basically a bad idea. Some teasers(fancy parlays) can work if you hunt them down across key numbers.

[trobin31]

Parlay wins boost testosterone

[jjgold]

USA Model all parlays and they do a great job with it

Point and click auto generated ones, etc

Software unreal how it gets people to bet them

IT WORKS

[onetrikpony]

same reason they buy lottery tickets.Wishful thinking

[jjgold]

Pony yes good point

[Enkhbat]

I enjoy the thrill of a 10 team parlay.

[KVB]

Parlays can be a great way to reduce risk and increase rewards, expecially if you're getting fair payouts.

If they were so bad then we would see big neon signs advertising parlays, but you don't. Instead you get a parlay card as an ad, which has terrible odds as protection.

I know professionals that regularly make 10's of two picks on a typical Saturday.

[onetrikpony]

Books make a TON off parlays An absolute cash cow for the books and casinos

[jjgold]

Books make a TON off parlays An absolute cash cow for the books and casinos

yep

[KVB]

Books make a TON off parlays An absolute cash cow for the books and casinos

yep

Books make money off spreads too.

It doesn't make them bad bets.

Books don't advertise two pick parlays.

There's a reason for that.

[stevenash]

Just don't bet -EV odds. Straight or parlayed. Problem solved.

If you think they are +EV though, you are multiplying the +EVs by each other using a parlay.

This.
Exactly

[KVB]

It's a game of numbers and numbers is the game.

Never forget that.

[Mr KLC]

Nothing wrong with a parlay. I bet $1-$3 a piece. I'm up $325 in October. All I had to do was win 1.

[Shutup]

Lots of times people have a bad run and are towwards the end of their bankroll so they do a parlay to get it back
Either that or big favorites on Ml which seem easy but often screw you

[Runeblade]

Small risk big reward. I like to do big parlays on the weekends just for shits and giggles

[BeatTheJerk]

Small risk big reward. I like to do big parlays on the weekends just for shits and giggles

Runeblade do you know any live casino online that allows you to bet 1 dollar on black/red. A lot of them I have used it’s always 5 dollars.

[KVB]

Parlays can be a great way to reduce risk and increase rewards, expecially if you're getting fair payouts...

Like I said in another thread, if I still believe my edge is there and am in a loosing streak or am down quite a bit, I would rather start making two pick parlays than reducing my bet size.

It's the mathematics of teh situation.

Now, if you aren't applying math to it, it can be a different story. It really can.

[pavyracer]

Is this guy serious? Parlays are a great tool to manage risk. You hit the first 2-3 legs then you can hedge easily later legs and win big.

[JacketFan81]

I hit one for almost $10k back in December. Biggest one I've ever hit. $50 bet!

[Roger T. Bannon]

Parlays are big with small time bettors. Bet $10 and get a potential big payoff. It adds excitement.

[BeatTheJerk]

I hit one for almost $10k back in December. Biggest one I've ever hit. $50 bet!

The biggest one I ever hit was for 45k 9 teamer.

https://ibb.co/t4XwvhP

[KVB]

The biggest one I ever hit was for 45k 9 teamer.

https://ibb.co/t4XwvhP

[KVB]

Is this guy serious? Parlays are a great tool to manage risk. You hit the first 2-3 legs then you can hedge easily later legs and win big.

I get the concept of equity but overall you should consider individual plays over a parlay if you intend to hedge.

I suppose it all depends on your style of betting and edge at play but if you track it both ways you might find the math of individual bets catches up to you.

You might.

[TommieGunshot]

I don't know if people genuinely think that putting multiple -EV picks into a parlay them +EV.

I would be surprised if people think that.

There are definitely cases when parlays can increase EV. Most common is when limited by sportsbooks. Try to bet $500 and watch the thing spin around, only to be offered $100 and then the line moves. But I can put that same bet in a bunch of parlays and see them go right through without having to wait for approval.

There are also definitely opportunities for correlated parlays.

[pavyracer]

I get the concept of equity but overall you should consider individual plays over a parlay if you intend to hedge.

I suppose it all depends on your style of betting and edge at play but if you track it both ways you might find the math of individual bets catches up to you.

You might.

You can't bet individual bets in soccer that you will include in a parlay. If you parlayed Liverpool, Man City and Chelsea today your bet would have lost 1 unit. If you bet them individually you would lose a lot of units as 2 out of 3 lost as big chalk. This is just one example.

The goal is to stay in the game and always have a bankroll so you can fight back. You can't win parlays by focusing on math..especially in soccer.

[KVB]

You can't bet individual bets in soccer that you will include in a parlay. If you parlayed Liverpool, Man City and Chelsea today your bet would have lost 1 unit. If you bet them individually you would lose a lot of units as 2 out of 3 lost as big chalk. This is just one example.

The goal is to stay in the game and always have a bankroll so you can fight back. You can't win parlays by focusing on math..especially in soccer.

We know what happens when you bet a parlay or individual bets, of course there will be losses. But if the games aren't going off at the same time, then you are likely to do better betting them individually than in a parlay.

You still must use the same bet amounts as you would in each play of the parlay.

You can only win with parlays if you understand the math. That's my point. You need to track both ways to see what I mean. Making open parlays or a parlay with the intention of hedging the last play, if you get there, is likely going to make you less money than just betting up to it. Don't throw any back and just make another good bet.

If the games go off at the same time, then you can't do it individually with the parlay bet amounts, obviously.

But if it's open, or one game now, and then later, then you can bet it like a parlay and not be stuck with the last play. No need to build equity to give back on purpose. If things change, and you need to sell back, that's different. But entering the parlay with the intention of undoing a play can be unnecessary risk.

You stay in the game by controlling your risk, not settling out of your bets because you can walk away with some money. I see what you're saying, like I said, I get the concept, but it's a different mindset, for sure.

...You can't win parlays by focusing on math...

People end up losing money to parlays for one reason, they don't understand the math.

That's why books aren't advertising two picks with big bright signs on the board, it can be deadly to a pro bettor.

[lakerboy]

Majority of people who bet parlays are action junkies. They want to be involved in the whole board somehow.

[Runeblade]

The biggest one I ever hit was for 45k 9 teamer.

https://ibb.co/t4XwvhP

That's fukin awesome man...Grats!!

[5mike5]

Just don't bet -EV odds. Straight or parlayed. Problem solved.

If you think they are +EV though, you are multiplying the +EVs by each other using a parlay.

[JIBBBY]

Cause it's better then playing the State lotto and scratcher tickets if you have a pipe dream of hitting it big one day.

Huge multi team Poorlays can hit more often then the lotto anyways..

[jjgold]

People always bet parlays always remember the average Gamblers a massive sucker