Over the years I have often been asked “How do you create winning parlay bets” and 9 times out of 10 the person asking is expecting me to reveal some crazy secret or something. I wish this was the case but it’s all about following the basic principles and making informed decisions week in week out.
With the amount of options we have these days it can be a minefield trying to decide which bets you put in to a parlay. It doesn’t have to be though and I will explain why and put you on track to winning more parlays!
How to win Parlays
- Trust teams playing at Home – Around 56% of all teams playing with a home advantage win. This can immediately increase our chances of adding winning teams to our parlay.
- Form is valuable – Recent form is gold dust and should be considered seriously. I always advise to take note of the last 3 games (both home and away) to get a feel of the current form. It’s also worth checking the past 3 home and away matches to see if any patterns are emerging.
- Good value odds – If you notice a stand out price for a team, consider adding that to your parlay. Over time this will ensure your profits are maximised. The odds are not correct all the time so if you feel you have found a +110 bet priced up at +175, it would make sense to include it in your parlay.
- Play across different betting markets – Make the most of the betting options we have available. I will often have a parlay that includes bets from the moneyline, the spread and the totals. Don’t be afraid to mix and match.
- Avoid big underdogs – Whilst backing the cavs at +750 to beat GSW might sound appealing, I would never add odds like this to my parlay. It’s just too high risk when we need all bets to win! Save these bets for single wagers.
- Don’t bet your own team! – It would be extremely rare for me to put my own team in a parlay. Main reason being, I am biased in my decision making. We normally have too much emotion invested so my advice is to leave them out.
Parlay Betting Strategy
The above steps form the basic parlay strategy I follow and have had successful parlay profits for the past 10+ years.
It is important to remember that parlay betting is a long term strategy. You will not win a parlay every week unless you are extremely lucky! You only need a handful of winning parlays each season to walk away with a profit though.
Here are some further parlay tips that I follow;
- I wager the same stake for every single parlay through the whole season. For me that is $50. It doesn’t matter what your stake is though, just keep it the same for each parlay.
- I always include a minimum of 5 bets in my parlay. This is pretty key to my strategy and helps to keep the winnings high when I hit a winning parlay.
- Track your wagers! Make a note of all bets placed and all the winning returns. This is healthy and useful so I cant recommend this enough.
- Stick to sports you know well. This will make your research easier and eliminates guess work. You have to be confident in your knowledge and or research when building a parlay bet so make sure to do just that.
- Take your time and make a short list of bets. Add all the bets you fancy, take a break and grab drink. Then go back and justify which bets will make it in to the parlay. I guarantee that after a moment away you will not include every pick in the parlay 🙂
I really hope this information was useful to you and gives you a thought process in to picking winning parlays. Like I say, there is no golden tip when it comes to parlay betting but there is a simple strategy to go by that can lead to profits.
Stay strong, wager sensibly and let the parlay bets come rolling in!