We’ll start with the basic definition of a parlay: It’s a combination of multiple wagers (called “legs”) into a single bet. So let’s dive into all facets of the activity with the following parlay guide. That said, sports betting is supposed to be fun, and parlays certainly can add to the excitement. Unless you get very lucky, you’ll almost certainly go broke (and quickly). As such, you should resist the temptation to devote a sizable chunk of your betting bankroll to parlays. It’s important for bettors to grasp the various nuances of parlay betting, starting with this undeniable fact: It’s very difficult to win parlay bets, especially on a consistent basis. The rest of the betting public will often dabble in parlays, lured by the opportunity to risk a little bit of money to win a lot. Now, many serious bettors shy away from parlays entirely, believing the reward isn’t worth the risk. Yet others play the occasional parlay mostly for fun, understanding the chances of winning are small. Other bettors chase massive wins with long-shot parlays.
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Some bettors build small parlays when they’re very confident in two or three bets, hoping for a higher payout than is offered with a series of straight (single) bets. These combined bets come in all shapes and sizes. Parlays permeate the sports betting world.
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