If you pay any attention to sports betting accounts on social media, you’ll see these big winning tickets, big parlays with crazy odds hitting, and bettors winning thousands of dollars on what are essentially lottery tickets. It’s easy to feel like you’re missing out, or FOMO, on all these tickets cashing. Please don’t fall for the allure.
Generally speaking, social media is all about hype and getting people to “buy-in”, regardless of the topic or discussion. Of course, that pertains to sports betting as well. No one on social media is going to highlight losses or tickets that almost won. It should also be noted that many companies have partnered with betting companies over the years, so these companies are being paid to sponsor big winners. The theory is that it’ll inspire you to make these wild 10-leg parlays in the hopes that you’ll be the next lucky bettor to win a crazy longshot wager. Of course, these companies accept thousands upon thousands of parlay wagers every single day. From a statistical standpoint someone will hit a crazy parlay every so often. However, sports betting is all about statistics and probabilities. It depends on the odds of your wager, of course, but if every leg of your parlay has odds of -110 on each leg, the odds of hitting your bet is 0.2%!
Simply put, Sportsbooks absolutely love it when bettors make parlay wagers, of all sizes. That’s why they will let you bet just about any amount you want on a parlay. The margin and handle for the Sportsbooks skyrocket when they take parlay wagers compared to single straight legs.
So, what’s the answer? What’s the way to put yourself in the best position for longterm success? Single leg straight wagers. One leg only. It’s hard enough winning one bet, but this is the hardest way for Sportsbooks to make money on you as well. At the end of the day, it’s all about minimizing your risk. Single leg straight wagers are the way to do that.