Parlays, also known as accumulators or combo bets, involve combining multiple individual bets into a single wager. While they offer the potential for larger payouts, there are several reasons why many experienced bettors advise caution when considering parlays:
Lower Probability of Winning:
Parlays require all included bets to win for the entire wager to be successful. As you add more bets to a parlay, the probability of all of them winning decreases, making it more difficult to achieve a successful outcome.
Higher House Edge:
Bookmakers build in a margin or “vig” (short for vigorish) into their odds, which serves as their profit. This means that the odds for each individual bet are already slightly less favorable than the true odds. Combining bets in a parlay further increases the house edge.
Increased Risk of Losing:
If just one of the bets in your parlay loses, the entire parlay is lost, even if the other bets were successful. This significantly increases the risk of losing your entire stake.
Lack of Value:
To make parlays attractive, bookmakers often offer seemingly enticing odds for combined bets. However, these odds might not accurately reflect the true probability of multiple events occurring.
In a parlay, you’re locked into all your selections once the bet is placed. If circumstances change or new information emerges before the events start, you can’t adjust your bets.
Emphasis on Favorites:
Parlays often require including favorites or heavily favored teams to achieve worthwhile odds. This can lead to situations where you’re betting on teams you wouldn’t have considered otherwise.
Alternatives for Higher Returns:
Instead of parlays, you can achieve potentially higher returns through other betting strategies such as value bets or specialized bets like Asian handicaps.
Frustration and Quick Losses:
Losing a parlay due to one failed selection can be frustrating, especially if the other selections were correct. Parlays can result in quick losses, leaving bettors disappointed.
Focus on Individual Research:
Betting on individual events allows you to focus on in-depth research and analysis, leading to more informed betting decisions.
Parlays can tempt bettors to allocate larger portions of their bankroll to a single bet, which goes against responsible bankroll management principles.
While parlays can be alluring due to their potential for big payouts, they come with higher risks and lower probability of success compared to single bets. Experienced bettors often prioritize individual bets based on thorough research and analysis, and use responsible bankroll management techniques to mitigate losses.