How To Bet Parlays On Bally Bet
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When you’re chasing a hefty payday from your gambling endeavors, more often than not, you turn to parlays.
Parlays—bets featuring a combination of at least two single wagers—are known for boasting massive odds, and this is what guarantees bettors large payouts.
Parlays, however, have one main catch: all your picks need to be accurate for the wager to be graded as a win.
These days, thanks to the continuous growth of online sports betting, bettors can place different types of parlays.
This betting guide will focus on the kinds of parlays you can build on Bally Bet.
We’ll also cover a few betting tips that will help you boost your parlay success rate.
Ready to improve your parlay betting? Let’s dive in.
How To Place A Parlay Bet On Bally Bet
Fortunately, building and placing a parlay on Bally Bet is pretty straightforward.
Once you’ve created a wagering account on the site, you just need to stick to this outlined procedure:
- Open the Bally Bet app and use your details to sign in.
- Search for a minimum of two games—or one in the case of a same-game parlay.
- You must add at least two selections to your bet slip to create a parlay.
- After picking two selections, head over to the bet slip to ensure they have been parlayed. You’ll also be able to see the total odds of the parlay here.
- Next, type in your bet amount.
- Finally, review your selections to ensure that you’ve chosen the correct picks, and then click the red “place bet” option to submit your parlay.
A parlay builder is a tool used by sportsbooks that helps bettors to build same-game parlays.
Bally Bet may not have the exact parlay builder tool that other sportsbooks use, but bettors can still build and place same-game parlays on the site.
To do this, just head over to the game you want to place a same-game parlay in and pick two selections that can be parlayed.
For instance, Bally Bet allows bettors to build a same-game parlay containing a moneyline wager and a totals bet. However, you can only create such parlays in a few select sports.
What Is A Parlay Bet?
Parlays are wagers containing multiple single bets—at least two or more—in the same betting ticket.
Since such bets deal with numerous selections, the odds of all the picks are combined, which guarantees punters a greater payout when compared to placing all the selections as individual bets.
For instance, let’s say you want to back both the Boston Celtics (-150) and the Los Angeles Rams (+200) to win their upcoming games.
You have two options: you can place two single wagers, or you can parlay both picks. If you choose the parlay route, you’ll create a multi-bet with odds of +400.
So if you risk $100 on this parlay, you’ll have a more significant return when compared to splitting your stake evenly and backing both teams in single wagers.
However, with parlays, all your selections must be accurate; just one wrong pick and the entire wager will go bust.
When building a same-game parlay, all the selections must originate from a single game or event.
In the past, very few sportsbooks allowed bettors to create such wagers, but nowadays, they’ve become very common and are a huge selling point.
Same-game parlays are great for boosting your odds without increasing too much of your risk. Of course, some selections from the same game can’t be parlayed into one bet slip.
For instance, if two teams are competing against each other, you can’t back both teams to win in the same single-game parlay.
Here’s a prime example of a same-game parlay:
- Boston Celtics Moneyline (-105)
- Over 211.5 points (-110)
- Parlay odds: +273
In this example, the Celtics need to win the game, and there must also be at least 212 points.
If you risk $100 on this same-game parlay and Boston Celtics win by a score of 120-107, you’ll win your wager, earning you a profit of $273.
If you love betting on player props, instead of placing them as single wagers, you can combine several of them to form a player prop parlay.
The focus of this parlay will often be on player-centric stats such as goals, passing yards, receiving yards, receptions, assists, and points, just to name a few.
In some instances, you can even build a same-game player prop parlay.
Want to know what a player parlay looks like? Here’s one great example:
- Davante Adams Anytime Touchdown Scorer (+130)
- Jordan Poole, Over 12.5 Points (+135)
- Cristiano Ronaldo, Over 2.5 Goals (+160)
- Parlay odds: +1305
Let’s say you build the above parlay and decide to risk $100 on it.
If Davante Adams notches a touchdown during the game, Jordan Poole scores 13+ points, and Ronaldo ends up scoring a hat trick, your $100 wager will yield a profit of $1,305.
In a moneyline parlay, only one thing matters: all the teams you select need to win their upcoming games outright.
Since you won’t be dealing with point spreads or winning margins in such a parlay, they are incredibly straightforward to build and follow.
More often than not, bettors build moneyline parlays when they want to combine several favorites with low odds to boost their winnings substantially.
Again, if two teams are competing against each other, you won’t be able to place them in the same moneyline parlay.
Here’s a fine example of a multi-sport moneyline parlay:
- Winnipeg Jets (-120)
- Green Bay Packers (-130)
- Los Angeles Clippers (-200)
- Parlay odds: +387
If the Los Angeles Clippers, Green Bay Packers, and Winnipeg Jets all emerge victorious, you’ll win $387 from a $100 bet.
Visit our guide to learn more about the betting moneyline at Bally Bet Sportsbook.
Point Spread Parlay
Some bettors prefer betting on the spread instead of mulling over whether a team will win their upcoming game.
If you’re one such bettor, you can choose to build a point spread parlay instead of a moneyline parlay.
In this type of multi-bet, every selection simply needs to beat the spread. Any favorite you add to your bet slip must overcome the virtual handicap imposed on them by the sportsbook.
For underdogs, they can either win or lose the game. However, if they end up losing, their margin of defeat shouldn’t be greater than the spread.
With this in mind, here’s an example of a 2-team NFL point spread parlay:
- Tampa Bay Buccaneers -4.5 (-110)
- Chicago Bears +6.5 (-110)
- Parlay odds: +264
The Bucks are the favorites and must achieve at least a 5-point victory. The Bears are the underdogs in their game and have the cushion of losing by a maximum of six points.
Risking $200 on this NFL point spread parlay will give you a profit of $528 if both teams manage to beat the spread.
Last but not least, we have an over/under parlay. This is an excellent option if you don’t want to focus on who’s going to win the game or which team will cover the spread.
You can exclusively focus on the over or the under in your game totals parlay. Alternatively, you can choose to mix both options.
Here’s one such example:
- Indianapolis Colts at Arizona Cardinals – Over 48.5 (-110)
- Houston Texans at Baltimore Ravens – Under 47.5 (-110)
- Golden State Warriors at Boston Celtics – Over 210.5 (-110)
- Parlay Odds: +596
If you risk $200 on this multi-sport game totals parlay, you’ll have a profit of $1,192 if all three predictions end up being correct.
Parlay Betting Strategy
Sure, it’s fun to build and place parlays, but at the end of the day, profit remains the ultimate goal.
To that end, you must implement the right strategies and betting rules if you want to boost the odds of winning your future parlays.
Luckily, we’re here to help you out. Here are a few tips and strategies that shrewd parlay bettors need to consider:
Go For Fewer Selections
Statistically, you have higher odds of winning a 3-team parlay as opposed to a 9-leg parlay.
Sure, more selections may boost your potential winnings, but you’ll also be needlessly increasing your risk as well as your chances of possibly losing that wager.
To avoid this, limit your parlays to around 2-4 selections; this will give you a greater chance of winning most of your bets.
Build Correlated Parlays
Correlated parlays will boost your odds without increasing too much of your risk.
When building such parlays, the focus is on including selections that are somewhat connected, meaning that if one of those picks is correct, more than likely, the other pick will also turn out to be accurate.
For example, if a massive favorite needs to score many points to cover the spread and the over/under line isn’t relatively high, you can construct a same-game correlated parlay that features both selections (the favorite covering the spread and a wager on the over).
Hedge Your Parlay In Appropriate Instances
When your parlay is down to the final selection, you may be tempted to let it ride. However, you can guarantee a profit by backing the opposite of that final wager.
In such instances, hedging is more than an appropriate alternative since you guarantee a return regardless of how that final wager turns out.
Why don’t you include prop bets in your next same game parlay at Bally Bet?