What is a parlay bet?

Firstly, let's understand the concept of what a parlay bet is. A parlay bet is one of the most popular types of bets in sports betting, widely used in casinos and online bookmakers. To place a parlay bet, a player must bet on at least two different events on the same betting slip.

There are various types of parlays, you might have heard of concepts like double parlays, triple parlays, four-fold parlays, or even nine-fold, ten-fold parlays, etc., all depending on the number of matches that a player bets on the same ticket.

Simply put, a double parlay is when a player bets on two different events, while a triple parlay is when a player bets on three different events, and so on, where a parlay (n) is when a player places bets on (n) different events.

Players can choose to bet on all events with different bet lines, from Asian handicap, European odds, over/under, corner kicks, cards, etc. However, the condition is that these bets must not occur in the same match. Currently, many bookmakers have started to offer parlays within the same match, but in Vietnam, this type of parlay betting is still not common.

An example of a parlay bet is when a player wants to bet on a match between Manchester United and Chelsea as well as the match between Barcelona and Real Madrid. The player can bet on both matches, and if both bets win, the player will receive a much larger payout than betting on just one match.

l the lower your chances of winning. And if just one of the selected bets loses, the entire parlay is considered a loss, and the player will lose their entire stake. Therefore, players should carefully consider before placing parlay bets and should only bet a modest amount of money when participating in this type of high-profit betting.

Now that you have some understanding of what a parlay bet is, many players may wonder how to calculate a parlay bet, what the payout ratio is, and how it is calculated if there is a half-loss or half-win bet? Don't worry, the football betting analysis site Wintips football bets 1x2 will answer these questions for you in the content below.

The easiest way to calculate a parlay bet

To calculate the odds for a combination bet, players need to know the odds for each individual bet, and then apply a calculation formula. The most standard way to calculate combination bet odds is:

COMBINATION ODDS = Coefficient 1 x Coefficient 2 x Coefficient 3 x Coefficient 3 x……..x Coefficient N

Where Coefficient 1 is the winning odds of the first bet, Coefficient 2 is the winning odds of the second bet, Coefficient 3 is the winning odds of the third bet, and so on until Coefficient N, which is the winning odds of the Nth bet.

Note: These winning odds could be either the odds in European format or Hong Kong odds in Asian format, meaning these odds are always greater than 1.

Next, we apply the combination bet calculation formula in the following cases. If:

• Full bet win: Coefficient to calculate = odds of that team (or that coefficient)

• Half bet win: Coefficient to calculate = 1 + ½ x (odds – 1)

• Draw: Coefficient to calculate = 1

• Half bet loss: Coefficient to calculate = 0.5

• Full bet loss: Coefficient to calculate = 0.

To better understand how combination bets are calculated, let’s take an example where you place a combination bet of 4 on the following bets with these odds:

• Match 1 – Bet A – odds = 1.9

• Match 2 – Bet B – odds = 1.8

• Match 3 – Bet C – odds = 1.9

• Match 4 – Bet D – odds = 2.1

If at least one of these 4 bets LOSES FULLY, then the calculation coefficient for that bet = 0, which means that when multiplying the calculation coefficients of the 4 bets, the result returns 0, and you lose all the money for that combination bet (regardless of whether the remaining 3 matches win or lose).

Conversely, suppose the following situation occurs:

• Match 1 – Bet A wins half the bet, so the calculation coefficient = 1 + ½ x (1.9 – 1) = 1.45

• Match 2 – Bet B wins the full bet, calculation coefficient = 1.8

• Match 3 – Bet C loses half the bet, calculation coefficient = 0.5

• Match 4 – Bet D draws, calculation coefficient = 1

Now the formula to calculate combination odds = 1.45 x 1.8 x 0.5 x 1 = 1.305, meaning with 100,000 VND placed on the combination bet, if the above situation occurs, you will receive back 130,500 VND (including the original 100,000 VND). So, you win 30,500 VND for this combination bet of 4.

If you still have questions about how to calculate combination bets, Wintips can confirm that the above method of calculating combination odds is 100% accurate according to the current practices of bookmakers around the world.

Experience in betting on soccer parlays

If you're still uncertain about parlay bets, it's best not to participate in this type of betting. There's a saying, "Know the enemy and know yourself, and you can fight a hundred battles without disaster." Therefore, to avoid losses in parlay betting, bettors need to fully understand the definition of a parlay bet and the calculation method provided by Wintips time to win prediction. Additionally, you can refer to some of the following football parlay betting strategies to earn a significant profit:

Choose matches with reasonable odds

To bet effectively on parlays, you need to select matches with reasonable and not excessively high odds. If the odds are too high, the risk increases, and the likelihood of losing the bet also goes up. Remember, as per the definition of a parlay bet, just one lost bet means you lose the entire parlay. Therefore, research the matches carefully and choose bets with a high probability of winning.

Focus on matches with accurate information

Update yourself with the latest information about the team lineup, injury situation, players' form, and the team's playing style before placing your bets. This information will help you more accurately assess the winning chances of a team.

Choose a suitable parlay

To minimize risk, avoid placing too many bets in the same parlay ticket. It's advisable to only bet on 3, 4, or 5 matches in a parlay to ensure a higher winning probability. Avoid taking on too many parlay bets as the difficulty increases proportionally with the number of bets.

When playing 9-fold or 10-fold parlays, this is simply akin to trying your luck similar to playing the lottery; only bet a small amount when you want to test your luck.

Choose the right moment to "run the parlay"

The strategy of "running the parlay" or reverse betting is often applied when a bettor realizes that a particular bet in their parlay ticket is very likely to lose. Instead of following market trends, the bettor will bet the opposite of what they had bet earlier. With this approach, if you choose the right moment and place the correct bet, your winning probability is maintained.

For example, if you're playing a 4-fold parlay, and 3/4 of your bets are progressing well or have already won, then for the fourth bet, you should bet on the opposite outcome of what you had initially chosen in the parlay, with the goal of ensuring a victory regardless of the match's outcome, albeit with a slightly smaller profit.

However, this strategy is not always effective. You should only apply it when the remaining matches in your parlay have either won or partially won. In all other situations, avoid the "running the parlay" strategy.

Always protect your capital when betting on parlays

Place bets that are appropriate for your financial capability and always protect your capital when betting on parlays. Choose your bets carefully to avoid losses.

Which bookmaker should you choose for parlays to win big?

Place your combination football bets at Wintips to win more money than ever before! With the mission "Pleasing customers on their arrival as well as their departure", Wintips has become one of the most trusted and favored bookmakers among professional long-term bettors. Holding a PAGCOR license from leading authoritative bodies, it guarantees security and fairness in each betting session.

Through partnerships with famous sports lobby providers like Saba, IM, CMD, BTI, Wintips offers a diverse playground with attractive betting options and high odds. Additionally, Wintips supports players with enticing weekly promotions, enhancing their chances of winning and earning more money. Notably, Wintips also offers an unlimited cashback rate of up to 1%, ensuring maximum benefits for players.

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The above is an overview of what a combination bet is and how to calculate it, as shared by Wintips. Within the limits of this article, Wintips may not have delved into every definition of combination bets, and some aspects might not be fully understood. However, keep reading and pondering to gain experience in placing combination bets. Start with a small bet, apply scientific and flexible football combination betting on each match to achieve the highest winning rate with football tips win. I wish all bettors good luck and to earn a lot of money from this betting industry.