Emerging Trends in Parlays Betting

What is Parlays Betting?

Parlays betting, also known as accumulator betting, is a popular form of sports wagering in which bettors combine multiple individual bets into one single wager. Learn more on CasinoTroll about the different kinds of bets available.

How do They Work?

A bettor must select multiple teams or outcomes to bet on to make a parlay bet. Each of these selections is called a “leg” of the parlay. The bettor then places one wager on all their choices, with the potential payout determined by the odds of each leg.

For example, if a bettor wishes to make a three-team parlay bet, they might select Team A to win, Team B to win, and the over on a specific point total in a game. If all three selections are correct, the bettor wins their wager. However, if even one piece is incorrect, the bettor loses their total bet.

Parlay bets are generally considered riskier than traditional straight bets (betting on one outcome) because if one leg of the bet loses, the entire bet is lost. However, the potential payouts for parlays bets are much higher than for straight bets, making them attractive to bettors willing to take on that risk.

It is crucial to note that some sportsbooks may have different rules and a minimum number of legs for parlays and may vary the payout depending on the number of legs, so it’s good to check the sportsbook rules before placing a parlay bet.

Parlays Betting Trends

In recent years, there have been several emerging trends in parlay betting that are worth noting. And many of these rules and outcomes depend on sports types and news associated with the games. For example, Dani Alves’s arrest at a Barcelona nightclub after his alleged sexual assault on a young woman is sure to impact some of the sports betting outcomes and which bet types gamblers choose.

• One trend is the increasing popularity of mobile betting. With the advent of mobile technology, it is now easier than ever for bettors to place parlays bets from their smartphones or tablets. This has resulted in a significant increase in the number of mobile parlays bets being placed and the development of mobile-specific parlay betting apps and websites.
• Another trend is the rise of live betting. Live betting, or in-play betting, allows bettors to place wagers on sporting events while they are in progress. This has become increasingly popular among parlays bettors, as it will enable them to adjust their bets based on the current action on the field or court.
• In addition, there is a trend toward using analytics in parlay betting. Many sports betting companies are now using data analytics and machine learning techniques to gain a competitive edge. This allows them to make more informed decisions about which teams and players to include in their parlays bets and to set more accurate odds.
• Finally, there is a trend toward expanding parlay betting to new sports and leagues. This includes the inclusion of esports and other non-traditional sports such as CrossFit, surfing, and drone racing.

Types of Parlay Bets

There are several types of parlays bets that bettors can choose from, depending on their preferences and the sport they are betting on. Some of the most common types of parlays bets include:

• Point spread parlays: In this type of parlay, bettors select multiple points spread bets on different games. For example, a bettor might select Team A to win by more than 7 points, Team B to win by more than 4 points, and Team C to lose by less than 10 points.
• Moneyline parlays: In this type of parlay, bettors select multiple Moneyline bets on different games. For example, a bettor might select Team A to win outright, Team B to win outright, and Team C to lose outright.
• Over/Under parlays: In this type of parlay, bettors select multiple over/under bets on different games. For example, a bettor might select the over on a particular point total in a match between Team A and Team B, the under on a specific point total in a game between Team C and Team D, and the over on a particular point total in a match between Team E and Team F.
• Teaser parlays: In this type of parlay, bettors can adjust the point spread or total in their favor in lieu of a lower payout. For example, a bettor might select Team A to win by more than 10 points instead of the standard 7 points, Team B to win by more than 5 points instead of the normal 4 points, and Team C to lose by less than 8 points instead of the usual 10 points.
• Futures parlays: In this type of parlay, bettors select the teams or players they believe will win a specific event or tournament, such as the Super Bowl or the World Series.
• Prop parlays: In this type of parlay, bettors select multiple proposition bets on different games. Proposition bets are wagers on specific events or outcomes within a game, such as which team will be the first to score, which player will score the maximum points, and so on.

It’s important to remember that each sportsbook may have different types of parlays available, and the minimum number of legs required for a parlay bet may vary. It’s recommended to check the sportsbook’s rules before placing a parlay bet.

Final Thoughts

While placing parlay bets can be entertaining, there are better long-term betting strategies. In general, parlays have a meager win rate. Sportsbooks adore routine parlay bettors for this reason. There are many statistics out there that do a great job of explaining why parlays are generally bad bets. For instance, in Las Vegas in 2021, a straight NFL wager had a winning probability over ten times that of a multi-team parlay. However, Parlay wagers have higher winning odds because they are more challenging.