When it comes to parlay betting for MLB, as well as any other sport, it can be a lucrative proposition but can be a little frustrating as well. This is because in a parlay bet you are betting on multiple games and you have to win every game in the bet for it to be a winning one. For example, if you make a 5-game parlay bet and four of the games are winners, but one does not win, it is still a losing bet. Yeah, that is frustrating. However, a parlay bet can also be very lucrative allowing you to make a lot of money from betting just a little. The more games you bet in a parlay the higher the payout is. However, the more games that you include in a parlay bet makes it harder to win since all the games in the bet have to be winners.
MLB Parlay Betting Options
When it comes to MLB parlay bets you can bet on teams to win straight up, but you can also wager on the O/U and the run-line. There are many betting options that can go into a parlay. Scoring in baseball is volatile and a team can put up 10 runs in one game and get shut out in the next. There are so many statistics to look at in baseball. This sport is based on stats whether it be batting average or a pitcher’s ERA, check out our article reading basic pitcher info to help your betting. Again, parlay bets are attractive ones since you can have a significant payout from a small bet.
Many times, you can win over 2.5x your original wager in an MLB parlay bet. However, as stated before the more teams in a parlay bet the harder the bet is to win, as every game you pick has to be a winner.
MLB Parlay Bet Example
You want to make a 3-pick parlay and in this example, we will pick three teams to win straight up or Moneyline as you would see on the Sportsbooks.
- Red Sox -160
- Yankees -130
- Mets +120
In this bet, a $5 wager would net you $26.63 and by making a $100 bet on this wager you would win $532.50 with odds of +532.5. Even betting on big favorites, say -200 or more, you can still win a substantial amount. For example, if you decide to bet on three big favorites in a parlay bet taking the Braves -210, Blue Jays -200, and Phillies -200 you would win $232.14 from a $100 bet. Not bad at all. As you can see a parlay wager is harder to win, but the payout is a good one. The more you bet on an underdog in a parlay the higher the payout will be.
For example, if you take three underdogs in a parlay bet taking the Brewers +140, Cardinals +150, and Dodgers +120 the payout for a $100 wager would be $1,220. As you can see a very nice payout and if you have done your research and feel confident then it might be worth a bet.
MLB Main Betting Lines
Parlay betting in MLB consists of three major lines that you can wager on.
- Moneyline (Straight Up)
- Total (Over/Under)
When you place a Major League Baseball parlay bet you can use any of these lines, so you can bet on three teams to win straight up or pick one team to win straight up, one to win a run-line, and then pick a total. It is all up to you how you want to mix and match the lines in a parlay bet taking as many games as you want in the wager as well.
MLB Betting Strategy
We have briefly touched on the types of bets that can be made in parlay betting in the MLB now let’s look at some strategy on how to make smart bets in a parlay. You may just want to pick 2-4 games in a parlay at random and hope for the best. You may have Lady Luck on your side sometimes, but the odds are not in your favor. The easiest way to increase your odds of winning an MLB parlay bet is to have a parlay with fewer games in it. The payout will not be as much, but the odds of winning the bet will increase. It is a good idea to make 2-3 game parlay bets for baseball, as, like in any sport, you never know what is going to happen in a game until the final out is recorded.
As stated before for MLB in the past five years the underdog has a success rate of 42%. While this means you have more of a chance to win with more favorable odds, betting on the favorite, if you do bet on the favorite all of the time your chances of hitting on a three-game parlay are still not great. This is different than in other sports such as the NFL and NBA where the underdog success rate is much lower. It does not make sense in MLB parlay betting to just bet on the favorite and because of this, you have to know what games are good ones to pick.
One of the main reasons there are so many chances to win when making MLB parlay bets is that there are so many games. Typically, on a given day there will be 12-15 games on the schedule, as teams do not have many days off. If there is a full schedule of games it is a good idea to pinpoint 2-3 that you like. You have the chance to make many game parlays with so many games on the schedule each and every day, but, again, the more games in a parlay the less chance that the parlay bet will be a winning one. You can narrow down your parlay and you can use the moneyline, run line, O/U or all three at once.
Don’t Over Strategize Your MLB Bets
Many times, bettors over strategize and this is especially the case for MLB parlay betting since there are so many statistics in baseball. The old adage in that when in doubt bet with your gut rings true to baseball betting, as you can go against the oddsmakers, who are often wrong when it comes to the lines they set and the outcome of the game. A strategy is good when making an MLB parlay bet, but don’t go overboard.
It was mentioned before that no other sport puts importance on streaks as baseball. Momentum is key in the MLB and you have to look at those factors. Often a team better on paper will be facing a hot team that is in the middle of a four-game win streak or have won five of their last six games on the road. Looking at a team’s momentum can give you the chance to bet on an underdog that has good value if they have momentum on their side.
MLB Statistics to Look At
The MLB season is a very long one that lasts six months and with so many games daily there are tons of betting opportunities. As stated before it is advantageous that you handicap games in an MLB parlay bet. Let’s take a look at some important statistics to check out when handicapping an MLB game.
The starting pitching stats are the most important baseball stat to analyze. The starting pitching matchups in games are the biggest factor when the sportsbook set MLB lines. Team offenses and momentum are other key factors, but the lines are primarily a reflection of the starting pitcher matchup. Pitching also trumps offense. For example, if L.A.’s Ace Clayton Kershaw is facing the highest-scoring team on the road you can still be sure that the Dodgers will be the betting favorite in the game. There are three things to look for when checking out starting pitching, which are ERA, WHIP, and K/9. You also have to see the pitcher’s recent form, how they have done in the last few starts, and how they have fared in home and away games.
Starting pitching is the most important thing to look at when looking at stats to handicap an MLB game, but the bullpen has become increasingly more important. The reason for this is that starters have not gone as deep into games as they did in the past, mainly because of investments in starters, and the bullpens tend to go 3-4 innings per game. Does the team have a good set-up man or is their closer solid? In bullpen statistics, you can look at the same things as starters, especially looking at a team’s overall bullpen ERA.
In looking at the offense of a team you have to look at their lineup and how they have fared when it comes to runs scored and team batting average. The better an offense is, overall, the more likely it will be they will get to opposing pitching and put up runs. For key players, you have to check out their OPS (on-base + slugging percentage) as well as how they have fared on the road and at home and how they have also fared facing right-hand or left-hand pitching.
No matter if a team is at home or on the road it is always a good idea to back a streaking team. If a team is hot they have confidence and can be a good bet in their next game. However, take their play into account if they are facing a staff Ace or if they have a struggling starting pitcher getting the start.
Sample MLB Parlay
Now that we have covered all the bases, no pun intended, let’s look at an MLB parlay bet with three different lines. If you check out the schedule and see that on one day you want to bet the Yankees at -150, the Over 9.5 (+110) in the Braves vs. Mets game, and the run line in the Orioles (+1.5) -140 vs. Blue Jays game. To win this bet the Yankees have to win, the total for the Braves vs. Mets game has to go over 10 runs, and the Orioles have to win or lose by just one run for you to win the bet. In this MLB parlay betting $100 you would win $500. Not bad, taking two slight favorites and a slight underdog in a parlay.
MLB parlays can be fun, interesting, lucrative, and frustrating all at the same time. It is important that you do some homework on games to give yourself the best chance to win. You have to know parlays are not easy to win, but when they do win the payout is significant.