What is parlay betting and how does it work?
In sports gambling, parlay betting is when a gambler makes many bets (at least 2) & combines them into one bet. If some of the wagers within the parlay fail, the whole parlay fails. If all bets win, the gambler receives a larger reward.
What tends to happen to the parlay bet if a game is canceled?
In hardly any of the cases, canceled games simply drop out from the parlay, reducing it from a 3 parlay to a 2 parlay. For complete specifics on how the sportsbook handles various scenarios related to particular bets, one should examine their regulations.
Why one should avoid this?
Parlays, according to most experts, are a bad method to gamble on sport, at least in the context of the long-term predicted value. This is due to the fact that in order for just a parlay to get a positive estimated value (EV), everything or most of the wagers within the parlay has a positive estimated value. In the other words, the parlay bet is more likely to lose than separate bets.
Where Does My Parlay Wager Go If The Match Is Cancelled?
Because parlay bets consist of numerous legs, neophyte bettors frequently have issues regarding grading parlays. Clearly, a one-loss ends any parlay, but some wagers do not win and lose.
The most prevalent is a push. Assume that any team is defeated by three points and that the other teams won. Throughout this situation, the push eventually drops out of the water, making it a 3 team parlay.
The other instance to be cautious of is canceled or postponed games, which are becoming something of a worry as a result of the pandemics. Typically, the stake is removed from the parlay and this is reduced to a lesser parlay.
An unusual tie inside a Moneyline wager is the same story. The tie is removed from the parlay if you’re wagering a 3 market (common in soccer). For complete specifics on how a sportsbook handles various scenarios related to particular bets, consult their rules.
Two or even more bets make comprise parlay betting. They’re a means to combine many bets into just one. Because parlay betting is significantly tougher to succeed than normal bets, they may pay out substantially more. However, if you really want to generate money over the long term, they are not just a viable method.
That isn’t to say that all parlay wagers should be avoided. Parlay bets, like any other kind of sports gambling, can “be appreciated merely for amusement, not even as a money-making opportunity.