For keen sports bettors looking to test their prediction skills, a parlay betting strategy is something that can always provide a boost. Figuring out how to combine bets for better outcomes can be challenging, but it is rewarding if it comes off.
Finding the best parlay strategy can be a case of trial and error, but there are things you can do to give yourself a better chance. Additionally, it is beneficial to know what
not
to do as well as understanding exactly how parlay bets work and – being realistic – why they don’t come off as often as you might think.
Parlay Betting Strategy: Understanding How Parlay Bets Work
The first aspect of a parlay betting strategy is pretty simple: understanding what a parlay bet is. Often also known as an acca or an accumulator, this is a bet with multiple parts to it. To ensure that we have
accumulator bets explained
more clearly, here’s all the detail you need:
A parlay is formed when you pick multiple outcomes and bet that they will all come off
This can be done on a single game – for example, Team A will win, Player B will score, and there will be
x
number of goals.
It can also be placed across multiple games – for example, on one weekend, Teams A, B, and C will all win
To reflect the comparative unlikeliness of multiple bets all coming off, the odds are generally higher for a parlay bet
With that said, even if all the elements of a parlay seem likely in and of themselves, there is a greater chance of failure
Here is an example of a common parlay. For the sake of this example, we will be giving the odds in Decimal form
Leg 1:
Barcelona to beat Valencia at 1.70
Leg 2:
Over 2.5 goals in the game between Inter and Juventus at 2.00
Leg 3:
Newcastle to beat Tottenham by two goals or more at 4.75
In general, to get the odds for a parlay bet, the odds for each leg are multiplied by one another. In this case, the total would be 16.15 – so a bet of 10 would pay out £161.50 if this accumulator were to come off. But any one part of the parlay could easily fail to happen – most likely, the margin in leg 3 – and if this were to be the case, the bet would win nothing. That’s the high-risk, high-reward nature of most parlay betting.
Parlay Betting Pros and Cons
Pros and Cons
High payout potential
Intriguing multi-game action
Good for small stakes
All or nothing
Building a Smart Parlay Betting Strategy
While parlay betting may offer attractive odds due to the cumulative advantage of having multiple legs, it takes a solid, pragmatic approach to make them work in the long run. A parlay betting strategy should balance ambition with realism. Keeping the following tips in mind will help you achieve the results you want more often.
Limit the Number of Legs
The chance of hitting a 3-leg parlay is much greater than the hopes of pulling off a 6-leg one. Even if you pick six seemingly “gimme” bets, there is always a risk of surprise outcomes, and the more cautious you are in compiling your parlay, the better the chance that it will come off.
Pick Correlated Outcomes
If you are betting on a single sport, it is possible to pick outcomes that are logically linked. For example, a good NFL parlay betting strategy would be to pick multiple bets within one game. For example, if you pick Baltimore to beat Dallas, then it makes sense to pick another bet that dovetails with this, for example, Lamar Jackson to score a rushing touchdown. While it is to all intents and purposes, a separate outcome, one leg coming off makes another more likely.
Base Your Picks on Data
A lot of betting may seem to be about backing your hunches, but with parlay betting, it’s never a good idea to rely on vibes. Consider form, injury reports, and recent trends, and your bets will have a better chance.
Don’t Include Low-confidence Picks
It’s tempting to look at the odds on a parlay bet and think they’re not all that attractive, and throw in a more outre pick to boost the odds. But remember that all legs must win, so if you’re betting on World Cup matches and have already picked Argentina and Belgium, it simply doesn’t make sense to then throw in a speculative leg backing Albania just to make the odds better.
Keep Parlays Small
Tying up your entire bankroll in a parlay is never going to be a good idea. Even though it could be very rewarding if it comes off, there are few feelings more irritating than seeing legs 1 and 2 come off, and then watching as the third bet falls flat, flushing away your stake.
Using our
online betting guide
to inform your bet selection is never a bad idea, and that counts all the more when picking legs of an accumulator for your parlay betting strategy.
Parlay Betting Strategy by Sport
🏀 Best NBA Parlay Strategy
NBA games have a tendency to be high-scoring, offering plenty of prop markets including total points, first-half spreads and player performance markets including points and assists. When assembling a parlay, look for consistent scorers and combine bets on them with
moneyline bet
favorites when they are playing at home – home-court advantage is huge in the NBA.
🏈 Best NFL Parlay Strategy
NFL betting favours parlays due to its once-weekly format – less fatigue, less inconsistency of lineups, and plenty of games each weekend. Consider combining a
spread betting strategy
(picking a team to win by a certain margin) with total points and player props. Avoid heavy favourites in spread parlays, as teams with a big lead often ease off late in games.
⚾ Best MLB Parlay Strategy
MLB games happen almost daily throughout the season, which offers lots of opportunities but can lead to more upsets. If you’re making parlays, focus closely on starting pitchers; if a team is at the end of its rotation, then there’s more risk of a surprise defeat. Also, look to back teams with strong bullpens, as good relief pitchers hold leads better.
⚽ Best Football Parlay Betting Strategy
Football offers endless combination opportunities, as there is usually a match being played somewhere in the world at almost any given time. It’s a wise move to combine match results with BTTS (both teams to score) bets and total goals. Parlays are better placed on weekend games, as teams are more likely to field their strongest XI for these games.
Risks Involved in Sports Betting Parlays
While parlays can offer impressive payouts, they are, in truth, stacked against you as a bettor. The drawbacks to using them, even with the best parlay betting strategy, are numerous:
All or nothing:
You can pick five bets and watch four of them sail home confidently, only for the fifth to fall flat.
False confidence:
When a few parlays have come off, you can suffer confirmation bias, adding more legs the next time and seeing it all go wrong.
Lower probability:
Look over any week of sporting action in recent memory and check the results within a certain league on a certain weekend. Even if most of the results went as you would expect, there is almost invariably one that ends in a surprise result. If that was part of your parlay – which it easily could have been – you’d have won nothing.
Parlays can be an enjoyable side bet but should not be your default choice: look at them as a way to potentially win a decent return off a small stake, but never use them as your main bets.
Number of Legs
Individual Odds (Decimal)
Combined Odds
Implied Probability
2
1.90
3.61
27.7%
3
1.90
6.86
14.6%
4
1.90
13.03
7.7%
5
1.90
24.75
4.0%
Conclusion
Parlay bets are a fun part of betting, offering the chance to really test your predictive abilities in a way which can pay off if you’re fortunate. But bear in mind that even parlays that look bulletproof can end up with disappointment due to an unforeseen surprise result. If you’re going to make parlay betting part of your overall betting approach, bear in mind the risks and adjust your stakes accordingly. And always keep in mind the idiosyncrasies of the sports you are betting on, as informed betting is the best way to avoid nasty surprises. If you still want to give this betting strategy a go, we recommend doing it in one of our top-rated sites, which you can find on the banners of this page.
Parlay Betting Strategy FAQ
The best strategy in parlay betting is one that focuses on 2-3 legs with logical connections between their outcomes. Supported by data and responsible staking, these parlays have the best chance of success.
Yes, there is no restriction on how you assemble your parlay (unless it’s specified as part of a promotional offer). Just be careful – betting across multiple sports at once makes it harder to focus.
Because bettors usually lose them, which means the sportsbook wins. It takes a lot more for a parlay to come off than a standard bet, and while they offer decent returns (which tempts bettors), they usually don’t pay out.
