Choosing the right approach to parlay bet
We have already pointed out before the main drawback of placing a parlay bet; it is much harder winning a bet that involves multiple outcomes than winning a bet that depends only on one outcome. That said though, placing a parlay bet may get you a much higher return, in case you select the right bet, and this bet is a win. Then again, it is very difficult to predict for sure what combination of bets in a parlay bet has the most probability to win. Nevertheless, there are some clues that are worth considering for choosing the right bet.
One type of parlay, which is quite popular among bettors, is a semi-correlated parlay. Placing correlated bets with a sportsbook is prohibited, which means you cannot place two bets in the parlay that are directly connected. For example, it is not allowed to bet on the same team to win half of the game and win the whole game. Quite a few bookmakers allow placing a semi correlated parlay bet though. For instance, it is possible to bet on the same team to win and reach a certain score at the end of the game.
Using parlays occasionally and placing small bets is a great way to diversify your betting strategy and have fun. However, enticing odds offered by parlay betting tempt bettors to place more bets. Meanwhile, it is essential to remember that winning a parlay is not easy, and there is a high risk of losing the whole bet.
Some professional sports gamblers recommend sticking to simple bets, even though they are not as exciting. According to them, consistent, small and regular simple bets yield higher returns over the long run then highly unlikely massive wins.