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What is Parlay Betting - The Hottest Form of Football Betting in 2024

Parlay betting, perhaps, is a question that many people are asking and seeking answers to. Simply because this type of bet is extremely enticing, offering punters many attractive rewards. Despite this, there are still some players who have not tried their luck with this type of bet in football betting. Therefore, in today's article, the betting experts from the Wintips bookmaker will help you understand more about what parlay betting is in football and how to calculate odds to maximize your chances of winning.


Understanding Parlay Betting - What is it exactly?

Parlay betting is no longer a difficult question to answer and explain nowadays. This type of bet is currently widespread, attracting many enthusiasts who participate in it every day. The question of what parlay betting is has long ceased to be too challenging for those who have been involved with football betting for a long time. This betting option is also known by many as accumulator bet, referred to in English as Mix Parlay. It combines various odds in a single bet slip, creating excitement for the players.

When engaging in this type of bet, players do not need a significant initial investment to have a chance at substantial profits. To achieve this, players need to win all the placed football bets 1x2. This method has long been the choice of many experts and professionals in the field.

Some types of parlay bets you should know

When participating in betting, in addition to understanding what parlay betting is, you should also pay attention to the various types of parlay bets in football. There are many types of bets, depending on the number of matches and the amount of money you want to wager, they can be categorized into the following types:

  • If the number of bets is 2, it is called a double bet. (Double)

  • If the number of bets is 3, it is called a treble bet. (Treble)

  • If the amount of money wagered is 4, it is called a 4-Fold bet. (4-Fold)

  • If the number of bets is 5, it is called a 5-Fold bet. (5-Fold)

  • If the amount of money wagered is 6, it is called a 6-Fold bet. (6-Fold)

  • If the number of bets is 7, it is called a 7-Fold bet. (7-Fold)

  • If the amount of money wagered is 8 or more, it is called an 8-Fold bet and so on.

Specific Example of Parlay Betting

To illustrate and help players understand what parlay betting is and gain a general understanding of this form of betting, here is a specific example for your reference.

On the ranking table, there are Chelsea, Manchester United, and Liverpool. Match 3 will include the following types of bets: Chelsea Handicap Left 2.25, Liverpool Handicap Left 0.25.

If all the bets football tips win, you will receive a payout that is 8.98 times the amount of the initial wager.

If you place bets three times and only win 2/3 or 1/3 of the bets, you will lose the entire amount of the previous wagers.

How to play football parlay in European handicap betting?

Parlay betting and how to play it in European handicap sports betting is always a topic that many people are interested in. Parlay betting adds an extra layer of excitement to European handicap bets, making it more engaging than traditional approaches. This aspect also contributes to an increasing number of gamers choosing this form of entertainment.

In essence, calculating parlay bets in this type of wager is quite straightforward and not difficult for new players. The task for everyone is simply to apply the formula below:

Parlay Odds = Bet 1 Odds x Bet 2 Odds x Bet 3 Odds x ... X Bet n Odds.

It can be seen that the profit you earn will be calculated exponentially, only increasing and never decreasing. As long as you place a sufficient amount of wager, you still have the opportunity to receive significant rewards.

Most accurate method for calculating Asian handicap parlay bets

In addition to European handicap bets, many people are also curious about how to calculate parlay bets in Asian handicap betting. The formula for this type of bet is somewhat more complex and harder to memorize. Therefore, it is crucial for individuals to pay close attention to ensure the most accurate calculations and avoid potential risks.

The formula for calculating parlay bets in Asian handicap betting is as follows:

Parlay Odds = Win Odds x [(Draw Odds - 1)/2] x 0.5 x (Half Loss Odds) x 1 (Draw Odds) x ... X Last Odds.

In this formula, there are some key points that individuals need to note carefully:

  • Win Odds represent the direct profit you receive, calculated exponentially.

  • If you win with a 0.5 odds, the amount you receive is calculated using the formula [(Odds - 1)/2] + 1.

  • In the case of a draw, players will receive an amount equal to the direct profit multiplied by 1.

  • Finally, if the bet is lost, individuals will only receive an amount equal to half of the parlay odds.


Professional methods for calculating parlay odds like an expert

To gain a better understanding of what parlay betting is along with odds calculation, you can refer to the following two methods from Wintips. Both of them are high-quality strategies that are widely applied by many experts and professionals today.

Calculating parlay bets when winning most single bets

When consistently winning most of the individual bets, it's also essential for individuals to know how to calculate parlay bets in the most reasonable and intelligent way. Experts assess that individual bets often result in a much higher winning percentage. Therefore, this is the type of bet many people aim for, especially those players with less experience.

Typically, in this scenario, the parlay odds for individuals will be the product of the individual odds. This is clearly expressed in the following formula that anyone can quickly execute:

Parlay Odds = Odds of Bet 1 x Odds of Bet 2 x Odds of Bet 3 x ... X Odds of Bet n.

To make it easier to understand, you can follow a specific example below: Let's say you place a 3-leg parlay bet on Germany at 2.15 odds, Portugal at 1.89 odds, and Spain at 2.19 odds. In this case, your potential payout would be 2.15 x 1.89 x 2.19 = 8.8991. This means that if you bet 1 million VND, the potential winnings would be 8.8991 million VND.

Simplest way to calculate parlay odds with draws/half wins/half losses

When participating in parlay betting, situations may arise such as draws, half-wins, half-losses, or a combination of all three. In such cases, how should players calculate the parlay odds?

Following the guidance of experts, your parlay odds will still be calculated by multiplying all the individual odds together. However, depending on the outcome of each bet, there will be some variations. Specifically:

  • If the bet results in a draw or is canceled, the parlay odds for that bet will be 1.

  • If the bet results in a half-win, the formula for calculating parlay odds is [1 + (individual odds -1)/2].

  • In the case of a half-loss, players can easily determine the parlay odds as 0.5.

If it's challenging to remember each specific case, you can use the general formula below:

Parlay Odds = Win Odds x (1 + (Half Win Odds - 1)/2) x 0.5 (Half Loss Odds) x 1 (Draw or Canceled Odds).

What should players keep in mind when experiencing parlay betting?

It can be affirmed that what parlay betting is and its calculation formula are very simple and easy to understand, easy to memorize. After a few attempts to get familiar with it, you can confidently seek significant victories. However, there are still some points to note for a higher winning rate. Specifically:

  • When participating in parlay betting, you should absolutely avoid placing bets on different outcomes of the same match. Instead, consider adding parlay bets on various sports disciplines alongside your favorite one.

  • Players should not choose long parlay bets as the risk is high, and the odds are not feasible. It's best to stick to parlay bets ranging from 2 to 4 to ensure safety.

  • When you are certain that a particular team will time to win prediction, it's advisable to place a single parlay bet on that match. It increases your chances of winning rewards compared to placing multiple parlay bets.

  • Currently, some betting platforms offer attractive bonuses specifically for players engaging in parlay bets. This is a great opportunity for everyone to collect more rewards. However, it's essential to thoroughly research the platform before deciding to place bets.

Conclusion

So, today's article has introduced and explained in detail for everyone to understand what parlay betting is. In addition, you've also learned how to calculate parlay odds accurately and professionally, similar to the experts. Hopefully, the information provided will help everyone enhance their understanding of calculations, thereby increasing their chances of winning.


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