How to Make Money Betting on Heavy Favorites on Sportsbooks – Parlay Betting

Written by: Kevin Hao This entry was posted on Tuesday, July 8th, 2014

Have you ever wanted to bet on a certain team or athlete because you were so sure they would win a game, only to hold back after finding out they’re too big of favorites? Betting a hundred dollars for a return of just $10 doesn’t seem worth the risk. Fear not! Here we give you an option to earn from your beloved favorites through parlay betting.

A parlay will require you to bet on the results of two or more games. You need to correctly predict the result of both or all games in order for the bet to payout. Since the chances of both or all the results of the games are slimmer than just a single bet, the returns for a parlay are much higher.

For example your favorite sportsbook has Team A’s odds to win at -1500, then you see a different game has Team B winning at +160. You’re so sure that both teams will win their respective games you’d even bet your house on it, but can’t get a decent payout from Team A’s odds. Here comes parlay betting to save the day. A parlay will get the multipliers for each game then multiply them together to come up with much bigger odds.

In the case we put above, a $100 bet on Team A will win $6.67 for a total of $106.67. Dividing the total for Team A and the initial bet will give you the multiplier which is 1.07. Doing the same for Team B will result in a multiplier of 2.6. By multiplying the two numbers 2.6 and 1.07, we get the odds for the parlay bet which is roughly 2.78.

A parlay bet of a hundred dollars for Teams A and B will win you $178 for a whopping total of $278. Hooray for parlays! Head over to our sportsbook reviews section for some of the best sportsbooks to bet on parlays or simply create an account here to start betting on heavy favorites while chasing a heavier payday.

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