There are countless 'handicapping services' in the business of providing people who have parlays. They'll tout win rates much like many of the most impressive straight wager cappers. Of course, you will see that they refer to money line parlays as 'safe' bets. On a number of these sites you may even have the privilege of dealing with some sort of royalty in the field of parlay wagering. Regrettably, thousands will undoubtedly be fooled by this fiction again this football season.
The fact is that exotic wagers keep sports books in business. Next time you're in Vegas check out the discarded tickets you see spread all over the place. It's safe to assume that you will find nearly all these losers are made up of such bets positioned on both sports and racing. Of all the sucker bets open to sports bettors, the parlay is king. Bettors are lured in by the promise of a huge payout while disregarding the point that there is no reasonable expectation of any return on the investment.
The home edge on a typical straight wager at -110 is 4.5%. Weighed against many table games this is really a fairly high percentage. Many table games and slots offer a better value for the average bettor placing a random wager. However, we all know that betting on sports isn't anything like throwing a couple of dice at the trunk wall.
Chance plays a role in everything the house provides. There are also steps which might be taken to reduce the edge in just about every game. Nowhere in the casino are elements such as skill and preparation more useful compared to the sports book. The edge on a straight wager could be reversed in the bettors favor through the use of statistics and expertise in an activity. However, a double digit house edge can never be overcome over time.
# of Teams | Actual Odds | Typical Payout | House Edge
2 | 3/1 | 2.6/1 | 10.00%
3 | 7/1 | 6/1 | 12.50%
4 | 15/1 | 10/1 | 31.25%
5 | 31/1 | 20/1 | 34.38%
6 | 63/1 | 40/1 | 35.94%
7 | 127/1 | 75/1 | 40.63%
8 | 255/1 | 150/1 | 41.02%
9 | 511/1 | 300/1 | 41.21%
10 | 1023/1 | 700/1 | 31.54%
As you can plainly see every parlay it is possible to possibly bet has a whopping 10% house edge or better. Such casino advantages tend to be more in line with keno, and they are equally impossible to overcome in the end. There is no mystery surrounding the world of parlays. Bettors are drawn to risking a small amount of money for large payouts. The games which are frequently played in the casino are slots that offer thousands or even millions in progressive jackpots. The mentality of the bettors is 'Go big, or go back home.' The casino is actually pleased to oblige as millions of bettors go back home with nothing in their pockets every year.
It is fair to assume that the biggest number of losing bets that a book accepts are exotic wagers of equal to or double the house minimum. The reason being most bettors don't have a meaningful bankroll set aside for sports betting. Since they don't believe they can make any real money by placing $25-50 on several games weekly they continue taking parlays for $20 or less. By doing this they essentially ensure a significant loss by the end of the season. Meanwhile, if they only placed straight wagers at that same level they would limit their potential losses to some units at most.
Many bettors assume that because they're keeping the size of their bets low they're not taking on a substantial risk. This analysis is flawed because it ignores several factors. Most of all, it really is my experience that most bettors do not place just one single parlay weekly. In football this means at the least 34 parlays are put during the regular season. In baseball that number can simply exceed 100. With a minimal unit bet this is still a dangerous number of wagers to place with this type of high house edge. For example, in case you are placing only 5 team parlays your expectation ought to be to lose about $35 for each $100 you wager. Because the number of bets you place increases it really is inevitable that you'll hit that $100 mark many times over.
Using nhà cái Fe88 as a side bet will usually result in increasing your losses or erasing any profits you managed to make on straight wagers. In 2009 2009, I had litigant who broke even with increasing his bankroll by 45% using my picks. He were able to do that by placing 'small' side bets including parlays, reverses, and teasers. That is an expensive lesson to understand especially when you take into account I issued a similar warning to him.
If you are going to follow his lead and continue using parlays I have a few pointers that may help you in the long term. First of all, the very best value of most parlays is clearly the three team parlay. The difference between your house edge on a 2 & 3 teamer is insignificant, however the payout is a lot more than twice as much. If you take a look at the graph you should understand why I'd never bet a parlay of 4 teams or even more. However, if you're going to make this investment listed below are two useful tips:
If you are likely to bet a 4 or 5 5 team parlay, always ensure it is 6 as well as 10. The difference between your house edge to include 1 or 2 2 more teams is within 5 percentage points and the payout is significantly higher for both options. The house edge on a 10 teamer is virtually the same as a 4 team parlay, but the actual probability of hitting it are over 1,000 to 1 1.
If you are likely to throw your money away chasing huge payouts on 7, 8, and 9 team parlays then just bet the 10 teamer. The House edge is about 10 points lower than all three of these bets and it typically pays about 700/1.
Setting reasonable goals and being patient while working to achieve them may be the sign of a profitable professional bettor. Greed should be kept in check in order to be successful. In this regard, every bettor has two options. It is possible to chase high returns while assuming plenty of unnecessary risk. Or it is possible to minimize your contact with a few units while maintaining an acceptable expectation to improve your bankroll by 50%...The decision is yours.