..

Online Bookies Should Always Offer Parlay Betting - Here's Why

Written by:
Guest
Published on:
Oct/12/2017

Pay per head agents should always offer parlay betting. Parlay betting promises a big payout for a small investment.

That’s why it’s attractive to most sports bettors. A sports bettor only must hit one or two 3-team or 4-team parlays to make up for any losses accrued on money line and against the spread wagers.

If that’s the case, why are parlay bets attractive to online bookies?

Keep reading for the reasons.

Parlay Odds Always Favor the Per Head Bookie

Parlays odds always favor the agent. The reason is simple. Parlay bets never account for true odds. Based on facts, parlay odds appear fair.

If a 3-team parlay pays 6 to 1, it sure sounds fair. 6 to 1 translates to 2 to 1 for each team in a 3-team parlay bet, right?

Not really. Each betting event in a parlay is a separate betting event. What is means is that what happens when Dallas plays Philadelphia, as an example, won’t affect what happens when Louisville battles Florida State.

Horseplayers understand this, which is why most horseplayers play exactas instead of daily doubles.

Exactas require finding the first and second place finisher in the same event. Daily doubles require finding the winner in two separate events.

True Odds Can’t Be Calculated

The question then becomes, what are the true odds in something like a 3-team parlay? The answer is that true odds in any 3-team parlay cannot be calculated.

Anybody who says they can calculate true odds hasn’t thought enough about it.

True odds for 2, 3, 4, 5, or 10 separate events that have nothing to do with each other is impossible to calculate. The nature of a parlay is to attach separate events together.

Odds cannot be calculated for events that aren’t related in some way. Only probability odds can be calculated for parlay wagers.

Even Fair Odds Can’t Be Calculated

Point-spreads and money line odds prevent fair odds from ever being calculated in a parlay. That’s the problem.

Once a money line or spread wager is added to a parlay, the odds automatically become probability odds.

But, Players Do Hit Parlay Bets

They do. Online bookie agents should always fear some parlay bets. In these cases, using certain teams in a parlay should be forbidden just because the odds maker has screwed up the betting line.

In the long run, parlays bets aren’t hit with regularity. If any agent out there doesn’t believe it, all they must do is check to see how many parlay bets pro players make compared to casual players.

The pro player will almost never bet parlays. Why? The odds are never in the pro player’s favor.  

Online bookies need a premium sportsbook software solution in order to mitigate risk, and grow their sportsbook exponentially. That’s why over 13,000 pay per head agents trust PayPerHead with their sportsbooks.

Join PayPerHead.com today and you can get their Prime Package for just $3 per head. Learn more about it, and take your sportsbook business to the next level.

Gambling News

How Difficult is Sports Betting Math

 

Learn the numbers behind sports betting and how it works. What are the chances of winning? How do you break even?

Pete Rose Becomes New Spokesperson for VegasWinners.com

Pete Rose Becomes New Spokesperson for VegasWinners.com

Reno, NV, VegasWINNERS, Inc. announced today that Baseball’s all-time hits leader Pete Rose is back in the spotlight as spokesperson for VegasWINNERS national marketing campaign. VegasWINNERS.com provides sports betting enthusiasts with high quality analysis, research, data, guidance and professional advice.

3 Gambling Myths Explained

Gambling has been a part of mass culture since the 6th century BC.  In all that time, there have been a large number of gambling myths that have sprung up.

Gambling for Real Money in Australia - Is It Legal and Profitable?

Gambling for Real Money in Australia - Is It Legal and Profitable?

It seems impossible to play and earn money when every penny comes from hard work and diligence. But thanks to online gambling Australia, you can succeed after a few bets. If you do not want to risk your investments, then this method is not for you.

Experts Believe Covid-19 and Fan Eagerness May Expand Sports Betting in US

Experts Believe Covid-19 and Fan Eagerness May Expand Sports Betting in US

Experts believe that huge holes in state budgets due to the coronavirus pandemic and the demonstrated eagerness of fans to bet on sports are likely to spur a further expansion of sports betting and online casino gambling.

Syndicate