The BParlay.com US Horse Racing Parlay Guide is now available for our readers.
There aren’t many more exciting or popular ways to bet on horse racing than making parlay bets. Millions of fans of the sport typically opt to place bets using this method. But understanding the type of bet can often be complex for beginners to understand. However, in its simplest form, it is straightforward enough for all sports fans to understand. And it could lead to a betting type that you will choose to wager on for future race meetings.
What Is Parlay Betting?
Parlay betting is straightforward enough for all gamblers to understand, as you will be betting on two or more selections to win. The increased number of selections will mean enhanced returns when compared to betting on the two selections individually. Parlay betting is extremely popular with many sports, but possibly none more so than horse racing.
To understand how to make horse racing parlay bets, we can use an example:
- Frank’s Rockette to win the Winning Colors Stakes @ 2/1
- Delta’s Kingdom to win the Keertana Overnight Stakes @ 3/1
Gamblers can make a parlay selection on both of the above horses, winning their races. The odds for the selection would be 11/1, which means that customers could get $120 back in returns from a $10 wager. If a gambler was to play an individual $10 wager on each selection Then they could get a maximum return of $70 altogether. The parlay bet is high-risk but high-reward.
How Do I Win Parlay Betting?
Parlay betting does come with a very obvious negative. That is that both selections must be winners in order to get the returns. If one of the selections wins. And then the other loses, then the bet is a losing one, and the stake would be lost. However, as a gambler, you must weigh up the chances of both horses winning before making a bet.
Gamblers will get higher odds with the most horses that they add to their parlays. Some of the leading sportsbooks will enable gamblers to add up to ten selections. However, that comes with its own drawback, as the odds would be astronomical considering how unlikely it is that all ten selections will cross the line first.
When Should I Place Parlay Bets?
Newcomers to parlay betting would be ill-advised to make a bet on a number of selections that aren’t considered the favorites for the race that they are in. Parlays are typically used by gamblers as a way to get the best possible value from a number of bankers winning their races.
Horses that are odds on are typically more popular with parlay betting. As you can put two or three from a meeting into one bet to get higher returns. However, like betting on all racing markets, extensive research should be done before you place the wager. To ensure that you have the best possible selections on your parlay. If you have done the research and believe you have found at least two horses that will win, then the parlay could be the way forward.
Types Of US Horse Racing Parlays
There are a number of different horse racing betting markets that can be placed in a parlay. Below, we will go through some of the most common markets that you can use to add selections to your bet.
The most popular way to bet on racing is the win market. This is also the most prominent selection when it comes to parlay betting. You can add as little as two horses that you think will win their race to your parlay. Many of the leading sites will allow you to select up to ten horses in your parlay. With the odds increasing with the number of selections that you opt for.
A safer way to begin to understand parlay betting can be found by adding selections to your bet that will place in their race. Heavy favorites to win races will be small odds to place, but it is a smarter way to place parlay bets on bigger selections. This is a more common market for those looking to add a higher number of selections. A horse placing in a race is slightly more likely than a horse winning their race. Depending on the race, a place position could cover the first two or three places.
A bet that can be added to your parlay if you have done extensive research beforehand could be the forecast. Here, you will need to predict the first two runners past the post in the race. The parlay betting on this market results in high odds, as it is hard enough to pick the first two past the post in one race. Let alone two or three, which will be required to get a winner on the parlay. Once again, all selections have to be correct in order to get returns.
Can I Mix Markets?
All horse racing markets can be exceptionally popular with fans of the sport. Which means it will come as welcome news that fans can mix and match the markets on their parlay selections.
That means that fans can include one horse to win and one horse to place. Once again, as was the case with the other markets. Both selections must win in order to get the returns. Therefore, if you have Malathaat to win the Kentucky Oaks and Mandaloun to place in the Kentucky Derby. Then both selections must be right in order to get returns.
Do Selections Have To Run At The Same Meeting?
One question beginners have is whether the selections they want to include have to run at the same meeting. While many gamblers would like to focus on one meeting throughout the day. Parlays can spread across multiple meetings that are taking place at the same time. Therefore, you could include selections from Churchill Downs and Santa Anita Park despite the races taking place on the same day. Why not read the BParlay.com Beginners Guide to Horse Racing betting resource.
The only thing that gamblers will have to bear in mind is that they can’t have two selections using different markets from the same race. That means that you couldn’t have Rombauer to win the Preakness Stakes, as well as having Midnight Bourbon to place in the same race.
Tips For Making Parlay Bets
Before making a parlay bet, there are a number of tips that you should follow to make sure that you stand the best chance of winning the highest possible returns.
Find The Best Odds
The odds are important when it comes to horse racing, as many of the leading sites differ on what they are offering. Before adding a selection to your parlay, you should make sure that you’re betting on the best odds for your selection.
Find The Best Sportsbook
Many of the leading sportsbooks now cover all the major races from around the world. However, you should ensure that the bookmaker that you’re signing up for covers the broadest range of races. That will mean that you can place bets on the action from around the world and include selections that you wouldn’t find on other sportsbooks on your parlay.
Before even looking at the odds that are being offered, you should examine the runners that will be lining up in the races. Doing the relevant research is imperative to making smarter bets. You should make sure that you look through the form and assess the graded runs and track records of all horses involved. Other important pieces of information that you should look at including the trainer’s history in the race that you’re betting on.
Manage Your Funds
Betting on parlays can be a very entertaining way to bet on racing. However, you should always be wary of the money that you’re putting on the bet. You should put aside money for your parlay bets and make sure that you don’t exceed the amount that you’re looking to play with.
Place Your Bet
After you have done the research and found the best odds for your selections for your parlay, it is time to place the bet. The first step to do this is to add your selections to your bet slip. Once this has been done, you will have the option to form a parlay. Here you will enter the stake that you wish to have on the bet. And once you have entered that, then you can place your bet. Once the bet has been placed, you can sit back and watch the racing action. And hope that your winners come racing home to get you the potential returns from your selections.