Bookmakers often create a variety of betting options to attract the interest of players. Among them, parlay betting is a type of wager with the potential to bring significant rewards to players. However, not everyone fully understands what parlay betting in football is. Let's explore in detail about parlay betting in football together with Wintips.

What is Parlay Betting in Football?

Parlay betting, also known as combo betting, Multiple Bet, Accumulator, or Mix Parlay, is a unique form of wagering where players can combine multiple selections into a single bet.

In this type of play, all selections must tip for win for the player to receive a reward. Despite the apparent risk, parlay betting has the potential to turn failure into victory with just one successful outcome. With low stakes, you can have the opportunity to win significant amounts.

Of course, if any selection in the parlay combination loses, you will lose the entire bet and won't receive any rewards.

Therefore, parlay betting can be seen as a high-stakes game, requiring a balance between risk and the potential for large rewards. Only experienced players with a deep understanding of football have a chance of success in this type of betting.

Common Types of Parlay Bets

In addition to understanding what parlay betting is, you also need to pay attention to the types of parlay bets when participating in wagering. The types of parlay bets are classified based on the number of matches and the number of wagers you place, as follows:

If you bet on 2 matches, it will be a Double parlay.

If you bet on 3 matches, it will be a Treble parlay.

If you bet on 4 matches, it will be a 4-Fold parlay.

If you bet on 5 matches, it will be a 5-Fold parlay.

If you bet on 6 matches, it will be a 6-Fold parlay.

If you bet on 7 matches, it will be a 7-Fold parlay.

If you bet on 8 matches or more, it will be an 8-Fold parlay, and so on.

Specific example of parlay betting:

To illustrate, let's consider a match involving Chelsea, Manchester United (MU), and Liverpool. In a 3-Fold parlay, you can place various types of bets, such as Chelsea with a handicap of 2.25 and Liverpool with a handicap of 0.25.

If all your bets win, you will receive 8.98 times the amount of your initial wager.

However, if only 2 out of 3 or 1 out of 3 of your bets win, you will lose the entire amount of your initial wager. Parlay betting requires an understanding of betting and is a form of trade-off between risk and the potential for significant rewards.

Before starting to monitor and participate in betting on various odds, you need to choose how the odds are displayed on the sportsbook interface. One of the commonly used and easiest to understand methods is the Decimal display, as it presents information about the odds in a simple and specific way. Discover more: Overview of the Top corner betting strategy in the Current Landscape

Calculation of parlay odds when all individual bets win:

In the case where all the bets you place in a parlay are individual bets, and you win them all, the parlay odds can be calculated using the following formula:

Parlay odds = Odds of Bet 1 x Odds of Bet 2 x Odds of Bet 3 x … x Odds of Bet n

For example: If you place bets on Chelsea, Liverpool, and Manchester United with odds of 2.16, 2.09, and 1.99 respectively, your parlay odds will be 2.16 x 2.09 x 1.99 = 8.9837.

-> If you bet 100,000 VND for each unit, when the bet wins, you will receive a total amount of 898,370 VND.

Calculation of parlay odds in the case of a draw/half loss/half win:

If a draw, half loss, or half win occurs, the calculation of parlay odds becomes more complex. Especially when participating in Asian Handicap or Over/Under betting, you need to consider the following scenarios:

If a draw or void occurs: The odds for that bet will be replaced with 1.

If a half win occurs: The odds for that bet will be calculated as [1 + (odds for that bet - 1) / 2].

If a half loss occurs: The odds for that bet will be replaced with 1/2.

Guide on How to Calculate Parlay Bets

The precise formula for these cases would be:

[Parlay Odds = Odds of Win Bet x (1 + (Odds of Half Win Bet - 1) / 2) x 1/2 (if Half Loss Bet) x 1 (if Draw Bet) …]

>> Explore further: Maximizing Profits with dropping odds strategy Advice and Predictions

Specific example:

Suppose you place a 3-Fold parlay with the following bets:

Match Result: Real Madrid 1 – 0 Fulham, Bet: Fulham -0.75 (Odds: 1.90), Result: Half Win.

Match Result: Barcelona 1 – 1 Liverpool, Bet: Over 2.25 goals (Odds: 1.80), Result: Half Loss.

Match Result: Stoke 0 – 0 Manchester United, Bet: Stoke +0.5 (Odds: 1.95), Result: Win.

With the given results, the parlay odds you will receive are: [1 + (1.90 – 1) / 2] x 1/2 x 1.95 = 1.4137.

If you had placed a previous bet of 1,000,000 VND for each unit, when the bet wins, you will receive a total amount of 1,413,700 VND.

Effective Tips for Playing Parlay Bets

Parlay betting is a complex form of wagering, reserved for individuals with deep knowledge and experience in this sport. Therefore, if you are just starting out and do not have sufficient information about football teams and sports conditions, prioritize selecting teams with clear information and controlled situations. This helps increase the chances of winning and higher odds.

For example, Manchester United, Barcelona, and Liverpool all have high winning rates when playing individually. However, when facing each other, it is unpredictable which team will win more. Therefore, placing a strong bet on a parlay can become challenging.

If you are a newcomer wanting to try your hand at parlay betting, you can start by parlaying a single match. This means trying a 3-fold parlay (Asian handicap, European handicap, and Over/Under in the same match).

This process allows you to focus on analyzing and gathering information about the two teams participating in the match. This helps you understand the specific situation better and improves your odds.

In this way, Wintips has shared what parlay betting is and how to calculate parlay odds in detail for newcomers. Hopefully, with this information, you have gained more confidence in participating in betting. Don't forget to visit the website of reputable football tipsters, such as Wintips football predictions 100 %, to stay updated on useful football knowledge.