From August through mid-February NFL stats tend to take over the world, at least for sports fans. Many fans are now using the stats to place wagers on NFL games, and parlay betting has emerged as one of the most popular betting options.
Hitting on a parlay can lead to a pretty substantial payout, but you are also taking a pretty big risk when making this type of bet. Parlay betting requires some luck as well since you are going to have to hit each leg in order to win the parlay.
A leg is the name for each individual bet that is included in a parlay, and you are free to add as many legs as you want. It’s usually a good idea to use a small betting unit when making a parlay bet, it really just depends on how much money you are trying to win.
If you are planning to make a parlay wager, here are some tips to use in order to help you win some money.
Look At Many Sports
If you are wanting to win a parlay bet then you need to be willing to expand your betting horizons. The NFL is clearly the most popular sport to wager on, but you don’t have to completely stick to the NFL when putting together a parlay.
The reason that you want to look at many different sports is because that will unlock some better betting opportunities. You still want to stick to sports that you know or understand, but limiting yourself to just football is a pretty big mistake.
You might even want to stay away from betting on the NFL altogether, but you at least want to take a look at the complete sports calendar for the day.
Use Different Betting Types
Similarly to looking at a wide range of sports when putting together a parlay, you are also going to want to use different betting types. Each sportsbook is going to offer different betting options, but there are going to be some that are common throughout the industry.
You typically aren’t going to want to make a ton of moneyline bets for any sport, especially in the NFL. You aren’t going to find favorable odds most of the time when it comes to the moneyline, but this might be the best bet to use when putting together a parlay.
You can also include prop betting options in some parlays and this will give you even more opportunities to find valuable bets to include.
Research, Research, Research
If you are truly going to give yourself the best chance at winning a parlay then you are going to have to put in the time. Research is an important part of the entire sports betting experience, but it becomes even more important when making parlay wagers.
You really need to spend a lot of time researching every leg that you are considering adding to your parlay. A lot of this research can be done by simply watching sports, but there are other pieces of information that you will need to look for as well.
You don’t ever want to add a leg to your parlay if you haven’t done enough research and don’t feel completely comfortable with it. All you are going to do is get your hopes up for a big payday, but you will instead be making a donation to the sportsbook
Limit Number of Legs
If you are making a parlay wager then you are probably trying to see how big of a payout you can get. The temptation is real, but you need to show some restraint if you want to have a realistic chance of winning a parlay bet.
You really should keep the number of legs in your parlay to five or less, and that still might be too many in some situations. It’s more important to limit your potential return than adding on too many legs and ruining your chance to win the bet at all.