Parlays are the no guts, no glory plays of the sports betting world. They are higher risk, but also come with much higher payouts for taking on that risk. If your goal is to hit that one big bet that helps you win a boatload of cash, then parlays are what you want to be playing.
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A parlay is a bet that combines two or more outcomes that are available to bet on separately. If all of the outcomes you choose turn out to be correct, then you win the bet. If even one of those outcomes turns out to be wrong, you lose the bet. It is an all or nothing proposition. You can successfully pick the first five games right on a 6-team parlay card, but if you get the final one wrong, you lose.
Whether you lose the first or last game on your card makes no difference. In order to hit the payout, you have to get every outcome right. It sounds easy, but sportsbooks like Tipico would not be in business for very long if it was.
The more outcomes you add, the more risk you are taking on. The more risk you take on, the higher your compensation will be. A three-team parlay is less likely to hit than a two-team parlay, so you will be compensated exponentially more if you add another leg to any of your parlay plays and get the outcomes right. It is tempting to keep adding another game in order to boost up your payouts.
Remember that you have to guess every single outcome you include correctly in order to get paid. At some point, the games you are adding are not worth the extra risk. What point that is depends on your tolerance for risk and how many outcomes you feel you have a big edge on. You make like three games on any given night.
If you parlay a fourth, fifth, or sixth team on top of that core three, those last couple games you added are not ones you feel as strongly about. Keep that in mind when you go to make your plays. Being mostly right and being completely wrong is still going to cost you the same amount of money on your lost wagers.
Stick to your best bets and try not to go overboard and take a risky play unless the payout is really juicy.
If your goal is to turn $20 into a four or five-figure payday, you will have a hard time finding a quicker way to do that in sports betting than using parlays. Hitting a massive five or six outcome parlay at high odds is very tough to do. Very tough is not impossible though. Feel free to step up at Tipico Sportsbook and try to lay claim to your fortune.