For seasoned gamblers, parlays are the best way to make a lot of money while betting on the NFL. However, the process may be too complex for novices to understand.
This blog will give a brief rundown on how parlays work, what you can bet on in a parlay, and list a few suggestions that will help you make wise decisions while betting.
What Is Parlay Betting?
When placing a parlay bet, you make a single wager that covers multiple types of bets. For example, you’re betting on spreads and moneyline both at the same time. If you make every accurate forecast, you win.
However, if you place one incorrect wager, you lose all your money and suffer significant losses. The fact that parlays provide a substantial payout makes them an appealing option for gamblers despite their high level of risk.
Example of Parlay Bets
Consider you have three Sunday games on your list of favorites. You can spend $100 on a single three-team parlay and hope for a bigger reward than placing separate bets for each of them. The following are the three games you’re interested in:
- Chicago Bears (-7) over Tennessee Titans (-110)
- Kansas City Chiefs (+3.5) over New England Patriots (-110)
- Green Bay Packers (-6.5) over Miami Dolphins (-110)
With parlay bets, you can win $596 on betting $100. On the other hand, if you bet on individual matches, you’ll win only $300 despite staking $330. Therefore, parlay bets are well-liked since they offer you more significant profits.
Types of Betting Lines
- NFL moneyline parlays
- NFL points spread parlays
- NFL over/under parlays
In the moneyline parlay betting system, you bet on whether the team will win or lose. The moneyline bet is simple since you choose whether a team will win or lose, regardless of the points they win or lose by.
The point spread system entails estimating the win by points. For example, Tampa Bay has to win by 7 points or more, Green Bay by 3 points or more, and Kansas City by 9 points or more for you to win a parlay bet.
NFL over/under parlay betting is similar to points spread but has a standard over-under line set. For example, you’re betting on two games. One is Tampa Bay Vs. Dallas, where the combined score must be over 50 points, and the other is New Orleans Vs. Green Bay, where the combined score should be above 51.5 points for you to win the parlay bet.
Get Expert Betting Predictions at Charlies Sports for Successful Parlay Betting
To win a parlay, you’ll need very good picks. The experts at Charlies Sports provide expert NFL betting predictions regularly to help bettors get a competitive edge. We also offer expert NCAA, MLB, and NBA picks.
Get in touch with us today to learn more about our services.