In the realm of sports betting, few things match the thrill and potential payout of a well-executed parlay bet.Parlay betting, especially on NFL games, offers a unique opportunity for bettors to combine multiple selections into a single wager.
This is something I’ve enjoyed doing because it really spices things up in a way you won’t get with straight betting. Straight bets aka money line bets are usually more profitable in the long run.
However, parlays give you a chance to hit some big odds. And who doesn’t like that? Just remember that/ parlay bets are inherently riskier than traditional single-game bets, they can also be more rewarding, making them a popular choice among seasoned bettors looking to maximize their returns.
In this article, we explore the benefits of parlay betting on NFL games and why it continues to be a favored strategy among sports bettors.
What Is a Parlay Bet?
Parlay bets allow you to combine multiple selections into a single wager, offering the potential for significantly higher payouts than traditional single-game bets. Which is why I enjoy using them so much.
While parlay bets can be more challenging to win due to the increased number of selections involved, they also offer a higher level of excitement and the opportunity to win big with a relatively small stake.
Basically, a parlay bet is a single wager that combines two or more individual bets into one. To win a parlay bet, all the selections included in the wager must be correct.
If any of the selections are incorrect, the entire parlay bet is considered a loss. The appeal of parlay bets lies in the potential for exponential returns.
Because the odds of each individual selection are multiplied together, the potential payout for a successful parlay bet can be much higher than the combined payouts of the individual bets.
Benefits To Parlays On NFL
One of the primary benefits of parlay betting on NFL games is the potential for significantly higher payouts compared to traditional single-game bets. Because parlay bets combine multiple selections into a single wager, the odds are multiplied together, resulting in a potentially much larger payout if all the selections are correct.
For example, a parlay bet on three NFL games with odds of +200, +300, and +400 would result in a total odd of +5600, meaning a $100 bet would return $5,600 if all three selections are correct.
If you were playing on a site like Bovada, where they allow these types of bets the payouts can really be enticing.
Another benefit of parlay betting on NFL games is the ability to hedge against losses and minimize risk. By combining multiple selections into a single wager, bettors can spread their risk across different games and outcomes.
For example, if a bettor has a strong feeling about two favorites winning their games but is less certain about a third game, they can include all three selections in a parlay bet. If the two favorites win but the third game is a loss, the bettor would still win the parlay, albeit with slightly lower odds than if all three games had been correct.
Use Your Experience
Parlay betting also allows bettors to leverage their knowledge and expertise to capitalize on multiple opportunities within a single wager. For example, if a bettor has a deep understanding of a particular team or division, they can use that knowledge to identify multiple games where they believe the odds are in their favor.
By combining these selections into a parlay bet, bettors can potentially maximize their returns on their expertise.
Additionally, parlay betting on NFL games adds an extra layer of excitement and engagement to the betting experience. Unlike single-game bets, where the outcome is determined by the result of a single game, parlay bets often span multiple games and can keep bettors on the edge of their seats as they root for each selection to come through.
This heightened level of excitement can make watching NFL games even more thrilling, especially for fans who have a financial stake in the outcome.
Are They Worth It?
If you know what you’re doing and have a lot of knowledge about the teams and individual players, this could be a way to increase your bankroll faster. It all comes down to your risk tolerance as a bettor.
In the NFL anything can happen. Key players get injured during the game, weather forecasts change, and things just happen.
However, having your own insight on how games will turn out is ultimately up to how confident you are in your betting abilities. My advice is that you should use parlays but only to a certain extent.
I would add these as fun bets and not bet more than 2 percent of your bankroll on anyone of them at a time. Because most of the time there is just not going to work out in your favor. The house edge is sometimes too high to beat.
Final Thoughts
In conclusion, parlay betting on NFL games offers a range of benefits, from the potential for higher payouts to increased excitement and engagement. While these bets are inherently riskier than traditional single-game bets, they also offer bettors the opportunity to leverage their knowledge and expertise to maximize their returns.
They are also fun bets that you may just want to add every once in awhile to make things more exciting. Even though I find it hard to personally win on these types of bets I still do them. And sometimes that’s just the best way to look at it.
Whether you’re a seasoned bettor looking for a new challenge or a casual fan looking to spice up your Sunday football viewing, parlay betting on NFL games is a compelling option to consider. Remember that when you’re betting to do so responsibly. At some point a loss is going to come. No one ever just keeps winning. Something to remember the next time you place that juicy parlay.
