NFL Betting Guide: Parlays

Jordan Sharp

Monday, July 14, 2014 3:44 PM GMT

Using parlays in the NFL can be a useful tool week to week, but for most casual bettors parlays are abused more than they are used. That being said, using these very simple tips can help you gain value with parlay betting NFL odds. 

           

Keep it under control
Betting parlays can net you some nice profits every once in a while, however people tend to be more mesmerized by 13-team parlay payouts that cash once every other lifetime, instead of the three-team parlay that actually gives the bettor good NFL odds. This I cannot stress enough, but don’t go crazy when betting parlays. Three parlays that have two or three teams in the NFL are much more valuable than a seven-team parlay in football. Football is such a crazy sport week to week, and when you start betting that heavy on the thought that you are going to go undefeated in a week, that’s when you start to become a sucker.

With the volatility of the NFL odds, any parlay in the NFL that is over three teams is normally a sucker bet. That doesn’t mean there isn’t a time and place for big parlays, but betting big money just for the fantasy of a six-figure payout is normally just that; a fantasy. Keeping your parlays to two or three teams will at least guarantee that you have a chance to come out ahead with your NFL picks.

 

Moneyline > Spreads
One other main issue I see with people betting NFL parlays is they rely way too much on parlaying spreads, instead of using moneylines. In any case where the spread is three points or less, just use the moneyline. Sure, it takes away a tiny amount from the potential payout, however it adds a ton of value to the parlay because the team doesn’t have to cover.

Another big problem I see with some people is they don’t line shop ever if they do use moneylines. With SBR's sports pick tools and betting advice, you can convert moneylines to spreads and vice versa. The jump from +3 ½ to +3 at most sportsbooks will give you an NFL odds price going from -200 to -165. This is a huge value jump for only a half point, so when you are looking around for the best NFL odds, make sure you find the book that has the best spread to moneyline conversions. Even though it may lose you potential profit, it is going to help grow your bankroll in the end. Unless you can find NFL odds for teams at -2 ½ or less, it’s smarter to use the moneylines (especially for futures like Super Bowl 2015).

Another moneyline factor when betting NFL moneyline parlays is betting underdogs. Once again, instead of betting a team at +2 ½ or +3, use their moneyline price instead. A three-point spread normally means the teams are pretty even, and using their moneyline price can seriously increase your potential payout without increasing your risk.

This is what parlay betting is all about. If you are high on two or three teams, increase your payout as much as possible, but weighing the risk is absolutely necessary when deciding on who to include in the parlay.