Parlay bets are called a "sucker bet" since the wager favors the house. However, there are people still going for it because if a sucker bet is won, the bettor is set to have a huge payday waiting for them.
But can you make parlay bets riskier than it already is for a bigger potential payout by adding futures? Here are the things you should know.
Futures Bets Explained
A futures or prop bet, by definition, is a type of wager in sports that involves an outcome specific to the game or season. Thus, it is a bet that you place before the game or season starts. You can only see the outcome of your bet at a later date.
The most common futures bet is the league or season champion. However, bets for the runner-up are also often opened, as well as bets for the most valuable player of the season. Other "bests" are also often wagered on, as well as totals on scores and other game-specific statistics.
Can You Parlay Future Bets?
There is a market for parlays on future bets, although the availability is very limited. However, even if you find a sportsbook that offers future parlays, the challenge is building the parlay bet itself.
This is because you cannot make a parlay on two related events for the same team. You also usually cannot bet on two teams for the same event, though some bookies may offer this option as same match bet builders. Bet builders are mostly found on sports betting sites for UK players.
For example, a parlay that Manchester United will win the Premier League and the Champions League is impossible. A "futures parlay" is only possible for unrelated markets. Futures are suitable for any type of parlays such as two-legs, five-legs, or eight-legs.
Advantages of Parlay Future Bets
Perhaps the greatest advantage of a futures bet is that it offers a huge payout potential. Parlays in themselves are popular because of this, and futures are also a choice for some punters for the same reason. With these two sub-types combined, the payout is indeed bigger.
Another reason why futures parlay is a popular choice for some people is the suspense and excitement it brings. Usually, bets are placed and settled in one game. A few hours to a whole day at the most, depending on the sport. On the other hand, futures involve the entire season. The excitement and the feeling of uncertainty for a longer period are what thrills bettors who are into this type of wager.
Disadvantages of Parlay Future Bets
As with all type and strategies in betting, betting parlay on futures also come with its own set of disadvantages.
One of the disadvantages of futures parlay is the low odds of winning it. Futures in itself is a hard bet already, as so many things can happen in an entire season that can make or break a bet. Add to that the element of parlay wherein both legs must be satisfied for the bet to be a winning bet, making futures parlay a tough bet to win.
Another is that not many US sportsbooks have opened picks for futures parlay. Even for those who do offer it, wagering requirements are often stricter than in other markets, which means your pick combinations getting rejected multiple times is very likely.
Futures parlay betting also locks your money for a long period, which may negatively impact your bankroll. Unlike usual and simpler bets, which have a faster turnaround, a parlay on futures not only has higher risks but also places your money in a period of uncertainty for a longer time.
No one can deny that money is the core reason people wager on sports, and parlay with future bets can bring in so much cash when you win it. However, at the end of the day, understanding the risks behind each bet you make is still a good practice to keep.
This article was published on June 25, 2022, and last updated on September 14, 2022.