Responsible sports betting can be fun. Before placing any sports bets it’s important to understand how betting works and what to expect as outcomes. Make sure you have set limits for yourself of both time and money. You will thank yourself later!
A parlay bet is a type of sports bet that combines two or more individual wagers into one bet. The payout for a parlay bet is higher than for a single bet, but the risk is also higher because all the wagers must win for the parlay to pay out. If any of the wagers lose, the whole parlay loses. For example, if you bet on three teams to win their games, and they all win, you will get a higher payout than if you bet on each team separately. But if any of the teams lose, you will lose your entire parlay bet. Parlay bets can also include different types of bets, such as point spreads, totals, moneylines, teasers and round robins.
A round robin bet is a type of sports bet that allows you to create multiple parlays from a larger list of teams or players. You can choose how many teams or players you want to include in each parlay, and the sportsbook will automatically generate all the possible combinations for you. For example, if you pick four teams for your round robin bet, and you want to create two-team parlays, you will get six parlays in total:
Team A and Team B
Team A and Team C
Team A and Team D
Team B and Team C
Team B and Team D
Team C and Team D
You can also create three-team or four-team parlays from the same list of teams or mix and match different parlay sizes. The more teams or players you include in your round robin bet, the more parlays you will get. The advantage of a round robin bet is that it reduces your risk compared to a single parlay, because you can still win some of your parlays even if one or more of them lose. The disadvantage is that it lowers your potential payout, because you have to wager more money on more parlays.
A teaser bet is a type of sports bet that allows you to adjust the point spread or the total for two or more games in your favor. In exchange, you have to parlay your bets together and accept a lower payout. For example, if you want to bet on two football games with the original point spreads of -7 and +3, you can use a 6-point teaser to move the spreads to -1 and +9. This makes it easier for you to win both bets, but you will get a lower payout than if you bet on the original spreads. A teaser bet is similar to a parlay bet, but with more flexibility and less risk. However, you still need to win all your bets in the teaser to get paid. If one of your bets ties or pushes, it is removed from the teaser and the payout is reduced accordingly.
Learn more about parlays: