If you’ve been following us for any length of time, you’ll know we have a specific aversion to parlay wagers. This includes any sort of parlay such as a teaser or round robin type of wager as well. Why is that, though? What’s so wrong about betting parlays? In this article, we will explain why Parlays only serve to benefit the Sportsbooks, and just makes it more likely for you to lose your bankroll over time.
We understand the allure. After all, it’s easy to get sucked in. Everyday it seems like there’s something going around on social media or being talked about on tv about someone who turned $5 into $100,000 on a 12 leg parlay. However, what this doesn’t account for are the thousands of other customers across all these Sportsbooks that lost on their longshot parlays. Frankly, Sportsbooks want the exposure of customers “hitting it big” because it creates a fear of missing out and causes other bettors to partake and make their own longshot parlays.
As professionals, it’s our job to best set our followers up for success. Whether you follow our Picks or not, this content is designed, fundamentally, to put yourself in the best position possible to be a profitable sports bettor over the long-term. Parlays are nothing more than great profit margins for the Sportsbook. Have you ever wondered why Sportsbooks will almost always let you bet more on a parlay than on a single bet? This is because PARLAYS ARE MORE LIKELY TO LOSE! It’s hard to win any bet, let alone multiple bets on one ticket, Don’t be tricked into the promise of winning big.
Instead, do what we do and what we preach! Bet every single game as an individual straight bet. Never get too high or too low. That’s the key to success in sports betting! Don’t get suckered in by the allure of winning 5 or 6 figures off a $5 bet. The odds of it happening are extremely, extremely small. Instead of a hope and a prayer, stick to the principles of money management and discipline. After all, sports betting is supposed to be FUN, and it’s usually more fun when you’re winning.