What is a Parlay Bet?

What is a Parlay Bet?

A parlay bet involves selecting two or more betting outcomes and merging them into a single wager. It’s one of the betting types most punters use to get larger payouts. However, each selection must win for the bet to be successful.

While “PARLAY” is common among U.S. players, punters in the UK are most familiar with the term “ACCUMULATOR” or “ACCA.” The concept remains the same, allowing players to combine two or more picks into a single bet slip. While a parlay bet offers a better return, it is risky because a single loss can affect the outcome of the bet.

How Does a Parlay Work?

Placing a parlay bet is simple. Here is how it works.

1. Choose your selections: To get started with a parlay bet, you need to first choose a betting platform that offers the types of sports you prefer. After signing up, go to the sports section and select your bets. 

2. Odds multiplication: Click the odds of each of your chosen sporting events to be automatically added to your betslip. Enter your stake amount and let your betting site calculate your potential return.

3. Risk vs reward: The more selections you add to your betslip, the higher your potential return. However, your chances of winning may decrease as the number of selections increases because all matches in your betslip must win. 

To help you understand how it works, here is a real example using UK football matches. Let’s consider four different games in the English Premier League:

• Multiply the odds by your stake (your bookie will automatically calculate this). Assuming your stake is £50, your return will be 50 x (1.80 x 1.50 x 1.40 x 2.50) =  £472.50.

Net return = £472.50 - £50 =  £422.50.

Note that if any of your selection loses, you’ll lose the entire wager.

Parlay vs Accumulator: Key Differences

The U.S. betting scene is different from that of the UK. While parlay is used in the U.S., UK bookmakers use accumulator or ACCA for bets that combine multiple picks. 

Despite being the same, their use differs according to each region. In the US, a parlay refers to a single wager that combines two or more selections or legs. On the other hand, punters need to input four or more selections in their bet slip to play an accumulator in the UK. Playing two selections in a single wager is known as a double, while playing three selections is known as a treble.

Therefore, the standard term for a bet with a minimum of two selections in the U.S. is a parlay. However, UK bookmakers have different names depending on the number of selections.

• 2 selections - Double

• 3 selections - Treble

• 4 selections or more - Accumulator 

Pros and Cons of Parlay Betting

Although there are several reasons to try a parlay bet, you need to consider its drawbacks. Below is a list of the advantages and disadvantages of parlay betting.

Popular Sports for Parlay Bets in the UK

Playing a parlay bet works for a wide range of sports. Here are some of the popular sports you may consider.

• Football: Football is undoubtedly the most popular sport in the UK and is ideal for parlay bets. You can combine matches from the Premier League, Champions League, and other football competitions into your bets. 

• Horse Racing: If you follow horse racing closely, you can combine multiple selections across different races into a single wager. The Cheltenham Festival, the Grand National, and Royal Ascot are among the most popular races to bet on.

• Tennis: ACCA bets are usually the choice for many UK punters during tennis tournaments like Wimbledon, the US Open and the Australian Open. Using parlays during the early rounds gives you a high chance of winning since the top-ranked players are a lot more likely to advance.

• Cricket: Cricket may not be as popular as football in the UK, but it's also ideal for parlay bets. Consider using parlays for major cricket events such as The Ashes, the ODI World Cup, and the T20 World Cup.

Tips for Placing Successful Parlays

To make the most of your parlays, you need to apply specific strategies. Below are a few helpful tips to consider.

• Research form and stats: Placing parlay bets is way more than just picking several games. It’s essential to conduct thorough research about the teams in your bet slip. Check their recent performances, injury news, head-to-head records, home and away forms before making your selections.

• Limit number of selections: While more bets may provide higher payouts, they also come with greater risks. Therefore, we recommend limiting the number of games in your betslip.

• Consider smaller stakes: Since parlays generally offer higher odds than single selections, it’s advisable to wager using smaller stakes. This will help you keep your losses to a bare minimum if you lose your bet.

• Understand bookmaker rules: Bookmakers set rules for their parlay bets. Ensure you understand them before placing your bets.

Common Mistakes to Avoid

If you’re new to parlay bets, it’s easy to fall into mistakes. Here are some of the errors you should avoid.

• Adding too many selections: Adding too many picks reduces your chances of winning. Choosing between 2 and 5 selections is reasonable enough.

• Chasing unrealistic returns: Betting as little as £10 to win thousands or millions can be unrealistic. Ensure you’re not blinded by the potential payouts when placing your parlay bets.

• Ignoring value bets: Value bets allow you to wager on better odds. We encourage looking out for them for more potential payouts.

• Not managing bankroll: Mismanagement of bankroll is an easy way to go bankrupt. Stick to small stakes and set aside a specific budget.

You May Also Be Interested In...

• https://www.livescore.com/en-gb/betting-sites/strategy/what-is-a-point-spread/

• https://www.livescore.com/en-gb/betting-sites/strategy/what-are-risk-free-bets/

• https://www.livescore.com/en-gb/betting-sites/strategy/how-to-bet-on-the-dutch-grand-prix/

Responsible Gambling

We encourage you to treat betting as entertainment rather than a quick way to make money. You need to gamble responsibly, manage your bankroll, and avoid chasing losses. You can set up time and deposit limits on your chosen bookie. Whenever you notice that gambling is becoming a problem, opt for GamStop self-exclusion to avoid betting for up to 5 years. 

Please note that all UK bookmakers will ask you to upload your ID to verify your age and identity. They do this to curb underage betting and fraud.