This is entry in a long list of betting strategy guides found here on Fury’s Fight Picks. Whether you’re about to take the plunge into the sports betting world for the first time, or are looking for tips to gain an edge, these guides provide expert advice that will help improve your result. You can find all entries in this series here.
Here I have a tip that is extremely useful but almost no one seems to be aware of it. “Manual parlays” is what I call it. Betting parlays can be great for a wide variety of reasons, whether it’s a sharp bet or a just-for-fun hail mary. But the problem is, not all sportsbooks let you bet parlays and the ones that do, often times restrict you form parlaying certain things. Luckily, there is a nice work around to this that let’s you parlay anything and everything, no matter what sportsbook you use.
Behind the Curtain
First off, let me explain exactly how parlays work. Some people think you get better value with parlays, but that’s not true. I constantly see people say there is no value in betting a certain team straight, but of you put him in a parlay there is value. That’s not true at all! You get the exact same odds on each individual leg of a parlay as if you bet them straight, but it just appears the odds are better because there is a hidden step that takes place. You’re not getting any more true value by doing parlays. In fact, you are actually getting worse value long term because parlays add an element of luck since you need to hit every leg to profit. So any time you hear anyone say something like “there is no value in betting Team X straight but if you put them in a parlay that’s worth a bet,” blacklist them — that’s tell tale sign of someone who does not understand the proper way to bet and is therefor not worth your time.
As for that hidden step I mentioned, it’s simple. Parlays automatically take the initial risk and bet it on each leg of the parlay, along with the profits from each previous leg that wins. It’s a difficult concept to explain, so let me kill two birds with one stone and further outline this by showing you the manual parlay workaround.
Betting a Manual Parlay
Let’s say you want to do a 3-team parlay between three legs that are each priced at -300. Parlaying those three together would have odds of +137 — or +137.03 to be exact. So if you risk $100 on this, it will pay out $137.03 in profit. Now let’s say your sportsbook won’t let you parlay these teams for whatever reason. Here is how the workaround goes.
Step 1: Risk $100 (the same initial risk you’d make on the actual parlay) on the first leg at -300 to win $33.33.
Step 2: If that first leg wins, take that same initial risk of $100 plus the $33.33 in profit ($133.33 total) and put it on the second leg of the parlay at -300 to win $44.44.
Step 3: If that second leg wins, take the same initial risk of $100 plus the $33.33 in winnings from the first leg, then also the $44.44 in winnings from the second leg ($177.77) and put them on the third and final leg of the parlay at -300 to win $59.26.
Now, if that third and final leg wins, you have made $137.03 in total ($33.33 + $44.44 + $59.26 = $137.03). And remember, your initial risk was just $100 and all you did was take that same $100 and risk it multiple times along with each parlay leg’s profits. And if you lose at any point of this, you still only lose the initial risk of $100. Sure, you might lose $177.77 on the third and final leg, but remember $77.77 of that is the profits from the first two legs. It’s literally the exact same thing as doing a parlay, except you have to perform the process manually and see the partial profits along the way. All parlays do is complete the process automatically for you, but the steps are still the same, as is the initial risk and end profit.
Also, you can do the entire manual parlay in advance for situation where some legs may be taking place at the same time (on NFL Sunday for example) or to lock in the current odds on all legs before the lines move. To do this, simply do the math in advance to figure out the required risk and potential payouts for each leg of the manual parlay, then enter them all in at straight once as separate straight bets for the specific amounts. The only difference in this situation is if multiple legs of the parlay happen to lose, you could end up losing more than if you waited for each leg to win first. On the flip side, a benefit of this is you could potentially lose less than if you did a normal parlay, if you parlay legs go say 1-1 or 2-1.
So, as you can see, there is nothing special about parlays. There are no magic odds or extra value added. It’s a very basic process and can easily be done manually if your book won’t let you parlays certain things. This work around comes in handy in so many cases, so it’s worth your time to get familiar with it.
Alright, that will do it for this betting strategy guide! Hopefully you’ve found this helpful and informative. If so, please do us a favor and share the article with others. And as always, feel free to send us any questions, or to suggest a topic for further series entries, by emailing [email protected]!
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