Parlay is a high-risk yet rewarding betting system. It allows punters to combine multiple small bets into a single wager to achieve one big payout. In general, the more bets in a parlay ticket, the bigger the potential winnings in Singapore Pools live betting.
When you parlay in online betting Singapore, you need to win each wager to get your maximum profit from the sportsbook. However, if one of your parlays loses, the entire bet will be considered forfeited.
Parlay betting is popular among the most professional and seasoned gamblers. While it presents some advantages, it is advisable to avoid this because of its numerous drawbacks. Thus, before engaging in parlay bets, you should know its risks to make better gambling decisions.
Risks of Parlay Betting
Biased Return
When you experience winning on your first bet, placing another wage on your next game can be tempting. While this is acceptable, it becomes risky once you decide to bet all your winnings. You might lose your bankroll and experience gambling problems in the future.
If you are making this mistake, it is time to assess your betting system. In a parlay, remember that the money you bet on the same game does not guarantee an increase in your funds. It is deceiving to think that betting on a similar match can improve your bankroll.
Bookmakers set payouts at a lower percentage than the actual return rate. Typically, you will not realize this when you are solely focused on the bets. You might also fail to notice that you are not getting the same return from your wager.
Wise decisions and effective strategies are essential in parlay betting. Experienced bettors advise betting in various games rather than in consecutive similar games. As such, you can ensure that the expected profit will be your deserved earnings.
High Losing Rate
Once you use parlay betting, your losing rate will get higher than your winnings. Only one single loss can result in an entire parlay loss. You must adjust your mindset to this situation, as losing streaks might discourage you from betting.
Parlays are not easy to play and can get you broke. For instance, if you win two out of every three games, you can acquire significant prizes. On the other hand, if you win two out of three-game parlay, you might lose your bet.
While losing is part of betting, staying calm and looking for ways to redeem your losses is imperative. One way to survive in the betting industry is to adjust your expectations based on different betting situations. If you expect to win all the time, this betting system is clearly not for you.
Sportsbooks benefit more from Parlay Bets
Sportsbooks provide different betting payouts, requirements, and processes to win. It works similarly with parlay bets as they are diversely created. One thing you need to understand is that parlays are biased with a sportsbook.
Sportsbooks are in the business of generating money. They know that parlays are typically misunderstood and misused by most bettors. So, they highly encourage gamblers, especially rookies, to invest in this betting system.
Additionally, those punters using parlays aim to bet for thrill and are less likely to profit. They know that betting on this system might not provide them the payout they deserve. It is because sportsbooks offer a lower payout rate than the actual one.
Despite this idea, punters still focus on the large winnings they can possibly get from multiple individual bets. They believe that consecutive small wages can ultimately give them one big payout. As such, parlay betting is still becoming famous among gamblers.
Betting Situation
In betting, it is essential to learn the value of patience. Being an aggressive bettor will not always give you the chance to win big. Successful betting requires skills, strategies, and continuous game knowledge to earn a large profit. Relying entirely on parlay betting is not advisable, especially if you want to protect your hard-earned money in your bankroll.
Many punters use parlays because of their high payouts and the thrill of watching players win. Once they win, they become more confident with using parlay bets. They continue to bet on every game without considering the risk of losing. Therefore, when they experience loss, they feel exhausted and think that betting is not for them.
If you want to try parlay betting, it is essential to evaluate yourself with this kind of betting situation. You need to set aside your emotions, focus on your goal, and accept the possibility of losing money. If not, you might be frustrated and stressed, leading to gambling concerns.
When Are Parlays a Good Idea?
As mentioned above, one of the reasons why parlay is risky is because of its low win rate. However, it does not always work the same way. There are times when parlay bets can increase profitability.
For novices, you can correlate your parlays with bets that supplement each other. Correlated parlays refer to two or more legs from the same game that relies on a related outcome. If one leg wins, there is a high chance that the second leg will also win. Those complementary bets with parlays are moneyline, hedge bet, over/under bet, and prop bets.
For example, you correlate hedge bets to your parlays in the National Football League (NFL). You place your bet on the first game at 1 P.M. ET, and another on the second game at 4:25 P.M. ET. If you win these two games, you have a better chance to hedge again and secure your winnings before the third game.
Another approach to maximise the advantages of parlay bets is by pairing a favourite with two underdogs. In this case, you need to make two different parlays. Your same bet for the favoured team goes on both parlay cards, but the underdogs will be on the other parlay cards.
Supposedly that the Golden State Warriors is the favourite of the 2023 NBA season, and the two underdog teams are the Timberwolves and the Chicago Bulls, respectively. In this scenario, you will place one bet for the Warriors and Timberwolves parlay card and another for the Warriors and Bulls parlay card. The ideal winning case is when both cards will win. However, even if only one parlay wins, you can still make money.
Parlays are worth it if you are aware of the risks associated with them. It can be a good betting option but in moderation. Like any other betting system, you must strategise, know the basics, and understand its nature. Even successful parlay bettors lose massive money by risking this bet.
Conclusion
Most gamblers consider parlays as bad bets because of their many risks. Others might say that parlay bets are less helpful in making money.
However, they still play a vital role in the betting industry. Exploring and trying various bets, like the parlays, help you enhance your betting skills, utilise sophisticated strategies, and succeed in your betting activities.
88ProAsia is a reputable online betting platform based in Singapore and Malaysia. We offer the best betting experience in sports betting and casino gaming. Register for an account here to start your betting activities.
