Betting Sports Parlays

Posted on | March 22, 2006 | No Comments

I got to thinking about Sports Parlay Bets today. It’s a common reaction to say that parlay cards are sucker bets, but are they really? Sure, maybe for the general masses who can’t pick winners at all that is true, but what about those of us who can pick winners somewhat often? Are parlay cards really that bad?

I have a friend who bets NBA parlay cards like there is no tomorrow. He knows that parlay cards are sucker bets, but he loves the action and anticipation of betting NBA parlays. He normally bets three team parlays and hits one about every fourth or fifth day it seems. That’s what got me thinking. If the odds on a three team parlay are 6 to 1, you can get paid proper odds, in theory, if you are hitting them about every fifth or sixth day.

If you are a sports bettor that typically picks about 50% winners, perhaps parlay bets are not such a bad thing for you. For those of you picking winners under 50%, stay away and keep making straight bets. I once read an article that mathematically estimated if you can pick winners 52% of the time, a three team parlay that is paying 6-1 is giving you pretty much proper odds. Knowing this is important, because it brings the parlay bet into the viable betting options arsenal.

So next time you hear someone say that a parlay wager is a sucker bet, take a moment and think if this applies to you. This is why it’s very important to keep records of your wagers—so you know how good or bad you are at picking winners. If you are not keeping a journal, start right now!

Related posts:

1. Three Team Parlay
2. Sports betting for US players
3. Sports Bits
4. NCAA Sports Pick 1 of 2
5. How does the Internet Gambling Prohibition and Enforcement Act affect Sports Betting operators?

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