Parlay betting is one of the most lucrative sports bets a bettor can make. Meanwhile, unless you understand and employ some kind of betting strategy, it can also be one of the toughest to cash in on.

What is parlay sports betting? And what possible winning tips do you have?

A parlay is one of the most lucrative sports bets a bettor can make. Meanwhile, unless you understand and employ some kind of betting strategy, it can also be one of the toughest to cash in on. Simply, a parlay is defined as a combination of two or more picks into a single wager. One of its advantages is that the top online sportsbooks offer attractive odds for groupings of two to sixteen teams.

On the other hand, the more teams you add to a parlay play, the higher the odds are stacked against you to win. In fact, picking a single winner can be difficult. Thus, to win a parlay, you have to win every single pick. The only exception is in the PUSH case when two teams tie with the closing point spread, in which case, the total parlay is reduced by one team. Also, the betting odds for parlays using point spreads are fixed and based on the total number of teams. You group them into a single bet.

So to bet with parlay- whether in football or basketball, you must:

- Handicap every game as an individual pick before grouping them
- Avoid picking parlays of three or more teams

Make sure you have a money management system in place before betting parlays. In summary, a parlay deals with a combo, and most times, players are advised to avoid the system because they have higher variance than straight bets. That is, you get the same odds, but your chance of hitting a dry spell is increased. Nonetheless, if you get the hang of the system, you can win with parlay sports betting tips.

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