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#1
A lot say that parlays are sucker bets because of the higher HA. But that is not always true.
A 3 team parlay pays 6/1 (at most places) and carries a house edge of 12.5%.
A spread bet pays 10/11 and carries a house edge of 4.55%.
So, if you win a 3 team parlay betting $100 you get paid back $700 and you actually won $600.
But if you had parlayed 3 spread bets yourself this is what would have happened:
First bet $100 win $91
2nd bet bet $191 win $173.81
3rd bet $364.81 win $328.33
You would get paid back $693.14 (including pennies for example purposes)
The cost of your straight bet parlay was $100 and you won only $593.14 which is less than the book would have paid you.
So, you are better off with the book's parlay than by doing it yourself if the betting choices of teams is the same. And all of the wiseguys who say parlays are sucker bets are wrong.
Why? Because in doing the parlay yourself the house edge cuts into you 3 times. The book's parlay offering only cuts into you only once.
It's only a small difference but still over time can be significant.
A 3 team parlay pays 6/1 (at most places) and carries a house edge of 12.5%.
A spread bet pays 10/11 and carries a house edge of 4.55%.
So, if you win a 3 team parlay betting $100 you get paid back $700 and you actually won $600.
But if you had parlayed 3 spread bets yourself this is what would have happened:
First bet $100 win $91
2nd bet bet $191 win $173.81
3rd bet $364.81 win $328.33
You would get paid back $693.14 (including pennies for example purposes)
The cost of your straight bet parlay was $100 and you won only $593.14 which is less than the book would have paid you.
So, you are better off with the book's parlay than by doing it yourself if the betting choices of teams is the same. And all of the wiseguys who say parlays are sucker bets are wrong.
Why? Because in doing the parlay yourself the house edge cuts into you 3 times. The book's parlay offering only cuts into you only once.
It's only a small difference but still over time can be significant.
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