There is absolutely no point to open parlays. The only time you need to put in a parlay is if two games are being played at the same time. Otherwise, a parlay is exactly the same as "letting it ride" on your next bet. (In fact, except for 3-teamers, it is slightly worse to parlay than it is to just let the winnnings ride).
Example: you put in a four team "open parlay", which pays you 12:1 (at pinnacle, lot of books have it at 10:1, which is a rip-off). You risk 10 to win 120. Meanwhile, I bet the same games one at a time and "let it ride". Here is the bets I would make:
Game 1: risk 10 to win 9.09 (total = 19.09)
Game 2: risk 19.09 to win 17.35 (total = 36.44)
Game 3: risk 36.44 to win 33.13 (total = 69.57)
Game 4: risk 69.57 to win 63.25 (total = 132.82, my original $10 plus 122.82 in winnings)
In reality, i actually made slightly more money doing it manually than by "parlaying" it with the book.
Example: you put in a four team "open parlay", which pays you 12:1 (at pinnacle, lot of books have it at 10:1, which is a rip-off). You risk 10 to win 120. Meanwhile, I bet the same games one at a time and "let it ride". Here is the bets I would make:
Game 1: risk 10 to win 9.09 (total = 19.09)
Game 2: risk 19.09 to win 17.35 (total = 36.44)
Game 3: risk 36.44 to win 33.13 (total = 69.57)
Game 4: risk 69.57 to win 63.25 (total = 132.82, my original $10 plus 122.82 in winnings)
In reality, i actually made slightly more money doing it manually than by "parlaying" it with the book.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by CrAzY Jivin' IvaN:
_drunkguy _
Thanks for your explanation - but doesn't a parlay pay more overall?
And what books offer this type of parlay folks?<HR></BLOCKQUOTE>
Ivan - read my explanation again. Letting your winning rides actually pays more than a parlay. The payoff seems to be more, but your odds are actually lowered (unless, like docdekay said, it is correalted).
A 4 team parlay is exactly the same as 4 straight bets where you let the winnings ride. Therefeore, an open parlay is pointless.
_drunkguy _
Thanks for your explanation - but doesn't a parlay pay more overall?
And what books offer this type of parlay folks?<HR></BLOCKQUOTE>
Ivan - read my explanation again. Letting your winning rides actually pays more than a parlay. The payoff seems to be more, but your odds are actually lowered (unless, like docdekay said, it is correalted).
A 4 team parlay is exactly the same as 4 straight bets where you let the winnings ride. Therefeore, an open parlay is pointless.
ivan, i am not 100% sure they still do. they did the last time i asked about it...haven't played one in a while. the url is www.heritagesports.com
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> "close the parlay" that gives you an edge doesn't it? <HR></BLOCKQUOTE>
Not at all
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by CrAzY Jivin' IvaN:
Drunkguy - it only works for 4 tm parlay? interesting to know....<HR></BLOCKQUOTE>
Every parlay is based essentially on the odds of the individualy bets hitting. However, there is generally more "vig" in the parlay (pays out less than it should),. The more teams, the higher the "vig".
Ivan, I don't mean any disrespect, but you really have no idea what is going on here. I would highly suggest you do some background reading to figure this stuff out before betting. Otherwise, bookies are going to love you.
For the math of parlays, I suggest the book Sharp Sports Betting by Stanford Wong.
Not at all
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by CrAzY Jivin' IvaN:
Drunkguy - it only works for 4 tm parlay? interesting to know....<HR></BLOCKQUOTE>
Every parlay is based essentially on the odds of the individualy bets hitting. However, there is generally more "vig" in the parlay (pays out less than it should),. The more teams, the higher the "vig".
Ivan, I don't mean any disrespect, but you really have no idea what is going on here. I would highly suggest you do some background reading to figure this stuff out before betting. Otherwise, bookies are going to love you.
For the math of parlays, I suggest the book Sharp Sports Betting by Stanford Wong.
I can remember a good example I had of using an open parlay.
A couple of seasons ago, I did this with mvpbets.com. Their 2 team parlay paid 14:5 which is better odds than letting winnings from the first game ride on the second game, etc. I was also faced with the issue of maximum bet so I could not have let the winnings ride from the first game all onto the second game as a separate bet.
My first end of the parlay was a Thursday night college football game and I left the second game open. I won the Thursday night game and did not have to fill the second game for a week. It was the time of year when basketball and football were going on in pro and college so it gave me lots of time to consider many possible games to fill the second game of the parlay with.
I ended up deciding to fill it with an NFL game on Sunday. I took an Under and won it by 1 point.
The moral of the story is that if the parlay odds are good or your faced with a maxmimum bet situation, open parlays can be great - especially at a time of year when many games are going on all week.
A couple of seasons ago, I did this with mvpbets.com. Their 2 team parlay paid 14:5 which is better odds than letting winnings from the first game ride on the second game, etc. I was also faced with the issue of maximum bet so I could not have let the winnings ride from the first game all onto the second game as a separate bet.
My first end of the parlay was a Thursday night college football game and I left the second game open. I won the Thursday night game and did not have to fill the second game for a week. It was the time of year when basketball and football were going on in pro and college so it gave me lots of time to consider many possible games to fill the second game of the parlay with.
I ended up deciding to fill it with an NFL game on Sunday. I took an Under and won it by 1 point.
The moral of the story is that if the parlay odds are good or your faced with a maxmimum bet situation, open parlays can be great - especially at a time of year when many games are going on all week.
