A parlay bet is a common way for sports bettors to increase their odds and payoffs. Instead of making multiple, single bets, a parlay bet combines 2 or more bets into one bet. Each bet within the parlay must win in order for the parlay to win. If any bet within the parlay loses, the bet loses. The more teams put into a parlay bet, the higher the odds.
5 Dimes Sportsbook are well known for having the most extensive selections of betting odds in the sports betting industry They have many features such as many deposit options, great odds, fast payouts, tons of sports to wager on, 24/7 customer service, and great player security. It is simple to make a wager and the site is great for beginners and fun player promotions.
Parlay bets should be used by one type of bettor, casual bettors doing it for occasional fun. Serious and professional sports bettors should only place parlay bets on very limited occasions, if ever. Since it only takes one loss within a parlay to lose the entire bet, the risk is very high. On a 6 team parlay, you could go 5-1 and lose your entire bet. Had these been straight bets, you’d be a happy camper.
Rules of the race and sportsbook. General race and sports book rules. Please check your tickets for accuracy before leaving the betting window. Tickets will not be altered or voided prior to the start of an event except at the discretion of management and with the approval of both parties. Tickets go as written and cannot be altered after the fact. 5dimes will wind up keeping 90% of the futures handle. (Same for the WNBA.) For MLB, it's unclear, but they might similarly refund bets on the 16 playoff teams and wipe away bets on the remaining 14. Agreement with the DoJ may give 5Dimes the opportunity to re-enter the U.S. As a licensed sports betting company. 7, 5Dimes posted a notice on its website saying that it would stop. 5Dimes' Parlay Rules: Players can win a maximum of $250k on a parlay, if bet, or teaser per 24-hour period; 5Dimes reserves the right to render invalid any parlay that includes a line error; 5Dimes offers live in-play lines for parlays.
Recommended Sportsbook for Parlay Bets:
Higher than normal parlay payout odds
Parlay Betting Odds
Two types of parlay bets can be made – those that use a point spread, and those that use a money line. Point spread parlay bets have somewhat standard odds, being very close at most sportsbooks. While there can be some slight variation from one sportsbook to another, in order to be competitive they’re generally pretty similar.
Typical Point Spread Parlay Betting Odds
- 2 Teams: 2.6:1
- 3 Teams: 6:1
- 4 Teams: 10:1
- 5 Teams: 20:1
- 6 Teams: 40:1
- 7 Teams: 80:1
- 8 Teams: 100:1
- 9 Teams: 150:1
- 10 Teams: 300:1
- 11 Teams: 450:1
- 12 Teams: 600:1
- 13 Teams: 750:1
- 14 Teams: 900:1
- 15 Teams: 1500:1
Money Line Parlay Betting Odds
Odds for parlay bets when using a money line are relative to the odds of each pick within the parlay. If you’ve chosen a number of underdogs, your odds will go up. If you’ve chosen big favorites, the odds will be lower. Money line parlays are great for an annual trip to Vegas where the idea is to go big or go home. However, for people who take their sports betting seriously, they’re too high risk to be a reasonable betting strategy.
Benefits of Parlay Betting
Parlay bets allow sports bettors to make small bets with the possibility of large wins. They also allow bettors who have a limited bankroll to bet on multiple games, instead of waiting for games to end and time to collect their winnings. If multiple games are going on at the same time and you don’t have enough money to make straight bets on each game, a parlay bet is a way to get action on each game.
To put a parlay win into perspective, lets use a 5 game parlay as an example. If you made 5 straight bets for $22 each ($110 total wagered) and won all of them, you would win $20 per game for a $100 total profit. However that same $110 wagered on a successful 5 team parlay would pay $2200. But wait, before you go place your bet, keep reading.
Negatives of Parlay Betting
The major problem with parlay betting is that they don’t offer true odds. For example, the true odds of hitting an 8 team parlay is 255:1, while the payoff is only 100:1. This is a big disadvantage to the bettor. Similar to Roulette, when you split your chips across 2 numbers, you get slightly worse odds. When you split them across four numbers, the odds get worse again. The same can be said for parlay bets in sports betting.
Think of it this way. If you want to bet $100 on each of 5 games, but can’t afford to risk the full $500, you probably shouldn’t be betting at all. If you can afford the full $500, you will get a better payout with less risk of losing all your money by making straight bets.
Parlay Betting Tips
There are all sorts of little tips for improving your ROI on parlay bets, but there are a couple of tips that everyone needs to know. To improve your chances and win more on your parlay bets, follow these tips.
Bet on Fewer Teams, Raise Your Bets
Parlays are often used the wrong way. Instead of placing a $20, 5 team parlay, it’s better to make a 3 team parlay for more money. While the odds are lower, the win-rate is much higher, relying on only 3 wins instead of 5. By increasing the bet size, you can make up for the lower odds. This gives you a better chance at a win and a nice payday.
If you have more teams you want to bet on, split your parlays into multiple, smaller parlay bets.
Protect Your Bets
If you have a 5 team parlay that is 4-0 going into the fifth game, you stand to win $1000 on a $50 wager. A loss in the fifth game pays you nothing. To guarantee a win, place a straight bet for $525 on the team opposing your parlay pick. This will guarantee you a minimum win of $425 no matter what the result of the fifth game is. While expert bettors don’t bet a lot of parlays, when they do, this is a strategy they often employ.
If your parlay wins, you collect $1000. This is a $950 profit from your $50 bet, minus the $525 side bet, for a guaranteed win of $425.
If your parlay loses, you lose $50 there but make $477 profit (11/10 odds) on the $525 side bet, for $427 guaranteed profit.
Either way, you can grab a beer and enjoy that last game, knowing you’re a winner no matter what.
Parlay Betting Rules in Event of a Tie
Before placing a parlay bet at a live or online sportsbook, find out the rules in the event of a tie. At some sportsbooks a tie will remove one team from the parlay, moving it down one level. For example, if you have a 5 team parlay with one tie, the parlay will automatically become a 4 team parlay, essentially removing one team from the bet.
At other sportsbooks, a tie results in a loss. This is bad for the bettor, so make sure you know the rules before placing your bet. This is especially important for betting on soccer or hockey where ties are common. Expert sports bettors never place a parlay bet without knowing these rules.
NFL & NCAA Football Parlay Betting
Parlay bets are extremely popular with NFL and NCAA football bettors. Parlay bets for football combine multiple straight bets, meaning the point spread is used. A bettors job is to pick teams that will cover the spread. If any team within the parlay does not cover the spread, the entire parlay bet loses.
While we don’t like parlay bets for serious bettors, they’re a great way to add tons of excitement to a weekend of football. Just remember how hard it is to go 3 for 3 in your fantasy league before you place a 10 team parlay.
5dimes Parlay Rules Meaning
Recent AI-related research listed the skills needed to become a star gambler. Findings basically were that a successful gambler had to be armed with six crucial skills one of which is not replicable through AI.
The skillset included individual and social skills that rarely adorn one single individual. These are:
- Math skills; while you do not need to have Nash’s mind you do need to understand the arithmetic’s of the game you are playing and in the case of slot machines you need to command probabilities which are math-based;
- To be savvy about risk: you need to fully understand the nature and frequency of the risks entailed in the game you are playing. Again, math is essential to understand probabilities and the size of bounties and losses.
- Concentration: You can hardly win if you are daydreaming or thinking about things unrelated to the game you are playing. Successful gambling demands concentration.
- People skills: lest you play slot machines, people skills are fundamental in succeeding at gambling. Best gamblers are amicable and courteous. They enjoy competing and make people around feel happy and fulfilled by participating in the game.
- To be realistic: You need to know probability and how it works. Understanding the concept of an independent event is fundamental. You should also understand concepts like short-term deviation and the Law of Large Numbers. Further, understanding the gamblers’ fallacy is essential. This entails understanding that past events have no bearing on current plays when those results are independent events.
- Think Long term: Successful gamblers resemble investors. They are masters in repeatedly handling the laws of small ROI’s.
In the short run, when you are dealing with random outcomes, anything can happen. But in the long run, the Law of Large Numbers operates, bringing the results of your bets close to the mathematical expectation.
5dimes Parlay Rules
As you might understand it is very difficult to create through AI people skills. But you can figure out who could become a great gambler through knowledge of those individuals that excelled at the trade. Among them, the following have excelled through time. A close examination of each brings to the forefront the presence of all six skills.
Edward Thorp: a math professor who wrote the book on card counting. Beat the Dealer was the first book about card counting that mathematically demonstrated that you could beat the house edge in blackjack by tracking the ratio of high cards to low cards left in the deck.
Billy Walters with a lucky streak of 30-year Mr. Walters is considered to be the most successful sports bettor in the history of sports betting streak. But he also is a very successful entrepreneur as he has invested in real estate, car dealing and other businesses with equal success.
Sean Creighton; The uncontestable king of Parlay bets. Mr. Creighton succeeded at Parlay bets through his mastery of mathematics and probabilities. At a very young age, he created his own Parley bets place to then with the proceeds create 5Dimes, a most successful sports betting platform.
5dimes Parlay Rules Games
Don Johnson: a businessman and a gambler who won over $15 million playing blackjack, without resorting to the counting cards technique in blackjack. He insisted on blackjack rules that gave the house a small edge of only 0.26%.The MIT Blackjack Team: established in 1979. The team recruits players through flyers posted at colleges. Selection however is very though and picky as admission to the team demands math fluency. Prospective teammates have to pass a test, then they are thoroughly trained. Before being allowed to play with the team’s money, they have to demonstrate perfect play to the team’s management. Besides traditional card counting techniques, the MIT Blackjack Team uses shuffle tracking and ace tracking techniques. The Team’s techniques give them an edge over the casino in the 2% to 4% range.