A parlay wager is a popular way of wagering in sports, as it has the potential of winning significantly large amounts of money. Unlike other simpler forms of betting, parlay wagers often have twice the potential earnings for a punter, sometimes even more.
How do parlay betting systems work? Should you go for them? Are they effective, or just a big sports betting scam? Here are the things you should know.
Be wary of betting systems in any gambling game you play real money on. Only play with money you can afford to lose. There is no magic system to beat the house.
Parlay Betting Systems Explained
Although more popular in sports betting, the parlay betting system is also used in casino games such as blackjack and roulette. In sports, a parlay bet is when the punter (you) combines two or more different bets in one single bet. To win, you have to satisfy the conditions of both wagers. In casino games, however, a parlay is when a player wagers not only the base bet but also their winnings. Other players often refer to this method of betting as a "go-with-the-flow" way of playing roulette.
In a way, parlay in sports and casino games work similarly in the sense that you combine amounts hoping to win a bigger payout. However, the difference is that sports betting parlay is a combination of many separate bets. In contrast, casino parlay is a progression of wagers that combines your base bet from the previous "round" and your earnings from that win.
How Parlay Betting Systems Work
To better understand how this works, take a game of roulette. The parlay system is often used in roulette bets where the odds are at 50/50 - red or black, or odd or even. The main rule of this betting system is to double your wager after every spin and return to your starting amount once you lose.
Thus, a parlay betting system for roulette may look like this:
- Spin 1: $10 (win)
- Spin 2: $20 (win)
- Spin 3: $40 (win)
- Spin 4: $80 (lose)
In this example, the player laid out $10 as their base wager. They won $10 on the first spin, $20 on the second, and $40 on the third, for a total of $70 in profit. However, the player lost at the fourth spin, which means they lost all winning plus their base bet.
However, if the player stopped after the third spin, they would make a 700% profit as their original $10 would now be $80.
What if there is no content win-lose pattern? Take this for example:
- Spin 1: $10 (win)
- Spin 2: $20 (lose)
- Spin 3: $10 (win)
- Spin 4: $20 (win)
- Spin 5: $40 (win)
In this example, the player has invested a total of $10 base bet, and by the end of the fifth spin, has a total payout of $80, or 600% profit.
Pros & Cons
One of the biggest advantages of using the parlay betting system is that it can help you make huge amounts of profit in a short period only. Played well and with good luck on your side, playing the parlay betting system may prove equal to lessening the risks of wagering in casino games.
Another is the lower tendency to overspend. Since you can multiply your money to more than double its amount in just a short time, you can call it a day at the right time and go home with your winnings, as opposed to playing more games and risk ending up going home broke instead.
The biggest disadvantage of using the parlay betting system is that it is not feasible to run long-term. Some may think that the more your progress and increase your wager, the bigger your potential profit would be. While that is true, the flip side to it is that you are also risking losing a huge amount of money, including your initial base bet or your investment.
The flaw in the parlay betting system is revealed once you consider the logic of the odds and the house edge. As you progress from your initial bet, your bet size changes. However, the craps, baccarat, or blackjack odds do not change, and the house edge does not change, too, no matter how big your wager can eventually get.
Using Parlay Betting Systems in Casino Games
Here are some casino games where you can apply the parlay betting system and how it can work for each game.
Blackjack Parlay Betting System
Blackjack is a card game where the goal is to have a hand where the total value of your card is 21 points. This is called the blackjack, and owning this hand automatically wins you the round. Alternatively, the player needs to have a hand closer to 21 than the dealer's. If the player's hand goes over 21, their hand is considered a bust, and they lose the round.
Applying the parlay betting system to blackjack is simple. You simply double your wager after you win a game. However, the recommended strategy is to keep the parlay going only up to three consecutive wins, after which the player should either call it a day or go back to their base bet and "start over," in a way. By keeping the three-win strategy consistent, the chances of you going home with huge profits with a blackjack parlay are highly likely.
Roulette Parlay Betting System
Applying the parlay betting system in roulette has the same principle - you double your amount wagered as you win every round. However, the catch, in this case, is that you should not use the parlay betting system in placing bets for specific numbers, number blocks, or any options that do not have an odds of 50/50.
Baccarat Parlay Betting System
The parlay betting system for baccarat is the same as with other games. You simply start with a base amount you bet with, and if you win the round, you double the amount you wagered. Naturally, the key is to set a maximum or a limit to your win amount to keep things on the "safe" side, or the point where even if you lose, you only stand to lose everything with your base bet and not go over than who much you started with.
Craps Parlay Betting System
Craps is a popular dice game that is always packed with action and filled with tension. A "shooter" would throw the dice at the table once all bets are set, and the winner would depend on the resulting total of the dice throw.
There are several ways to win in craps. The pass line bet means you bet on the total result to be a 7 or 11 for a "natural win," or any numbers from 4, 5, 6, 8, 9, or 10 for a point. Numbers 2, 3, and 12 are "craps" that mean you lose. The opposite is the don't pass line bets, where the "natural win" becomes "craps," and results of 4, 5, 6, 8, 9, or 10 are added to the point. You lose the game if your "point" is made before a 7 roll.
Parlay in craps is played similarly, with the player doubling their wage after every winning bet. However, with the odds of winning in craps a little different than in blackjack or roulette, or baccarat, caution should be exercised.
Parlay Betting System Controversy
The parlay betting system has been hit with many controversies. Often, this system is dubbed as a scam, a fraud, or intended to fool people out of their money through irresponsible gambling.
The problem is with people posing as industry "experts," often positioning the use of parlay betting systems, along with other betting systems, as a "guaranteed" way of making money through betting. There are courses, articles, and even books sold to people that claim to make these betting systems work 100% of the time for 100% guaranteed returns.
However, the truth is that the parlay betting system can only give a huge amount of profit if it works and is smartly played by the punter. Otherwise, it can also lead to huge losses when misplayed.
What is the parlay betting system?
The parlay betting system is a positive progressive betting strategy wherein a player doubles the amount wagered for a game after every win, and goes back to the starting bet after every loss. This is done by setting the starting bet amount and a maximum winning limit.
Which games is the parlay betting system used on?
Aside from sports, the parlay betting system can be applied in blackjack, roulette, and other games with a near 50/50 chance of winning.
Can parlay betting systems apply to sports betting?
Yes, parlay can be applied in sports betting, although slightly different than when used in casino games. In sports betting, a parlay is a combination of two or more bets, which are both required to be satisfied for the entire bet to win.
How do you use the parlay betting on craps?
Parlay on craps is applied in the same principle as other games: you set a starting bet and a maximum winning amount, and you double that amount wagered from the last round every time you win.
Can the parlay betting system guarantee profit?
Although the parlay betting system can potentially give huge profits, there is no guarantee that it will work 100% of the time.
Is the parlay betting system worth using?
For the most part, the parlay betting system is good only for casual bettors or those looking to make a profit in a shorter time. For those who seek to play the long-term game, this is not recommended.
Gambling is still gambling, no matter the strategy applied. You may win some, you may also lose some, At the end of the day, it is always important to be responsible in using a parlay betting system, all the while having fun playing games.