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A reliable betting strategy has been of utmost importance for countless sports bettors in Southeast Asia. This allows them to maximize betting opportunities on different sports, helping increase their chances of winning and profit from online sports betting in Malaysia. Bettors adopt numerous strategies before placing bets, some of which can lead to significant payouts once they win.
One of the well-known betting strategies that promise a hefty payout is parlays. The opportunity to win big makes parlays enticing to many bettors, especially those looking for a higher profit with only a small wager. But despite being a popular betting technique, many seasoned bettors discourage other bettors from doing parlays, primarily because of its complex nature.
With this in mind, many bettors ask one question when learning about parlays if they are as risky as they seem.
Understanding Parlay Bets
But before delving into the perception of risk about parlays, people must understand the whole concept and mechanics of parlay wagers. Parlays happen when bettors combine separate single bets into one bet, making the payout potential higher. And the more legs gamblers add to their parlays, the higher the potential payout. This is because for the punters to win, they must win each leg on their parlay.
For example, a punter placed a four-team Premier League parlay for Liverpool (-2.5), Tottenham (+1.5), Chelsea (+3.5), and Manchester City (-4.5). Every team in this parlay must hit the conditions based on the odds given by the sportsbooks in Malaysia for the better to win. But even if only one team out of the four fails to do it, the gambler will take home nothing.
Other Types of Parlay Bets
- Teasers– This parlay bet type allows bettors to adjust the spreads to help increase their chances of winning. This makes teaser parlays easier to win than traditional parlays, although it also has less payout potential due to the increased chances of winning. However, teasers are not recommended for every sport, as it is only ideal for high-scoring games like basketball and American football.
- Round Robins– This is a group of multiple parlays bettors placed across various games. Punters can create parlay bets with different numbers of legs and wager amounts, allowing them to have several parlay wagers from a list of possible outcomes.
- Same-Game Parlays– This lets players place multiple bets from the same game. This is a widely popular parlay type, especially for bettors who are only interested in watching the games of their favourite teams and players.
The Perception of Risk in Parlay Betting
Despite being a popular betting strategy, countless seasoned sports bettors advise against parlay betting. Parlays have been considered the riskiest sports bet type for the longest time, mainly because of the higher likelihood of failing. As stated, bettors must hit every leg on their parlays, and adding more legs stacks the odds against them, making it harder to win.
Compared to traditional single bets, parlay bettors will need every ounce of luck for their wagers to win. Meanwhile, punters only need to focus on one event in single bets, making the chances of winning comparably higher. Parlays are also considered riskier compared to casino games. This is mainly because casino games like slots, roulette, and blackjack have predetermined odds and probabilities already known to bettors. Meanwhile, the odds in parlay bets largely depend on the gambler’s selection.
Factors that Influence the Risk
Different factors can explain why parlay bets are risky, especially for rookie bettors. This includes:
- Number of Selections: The number of legs can make the parlay more complex. Adding more legs will increase the odds of hitting all selections, making winning harder. This is why many bettors who engage in parlays only have two- or three-team parlays, though there are some who go for long shots like a 15-team parlay.
- Types of Events: Another significant factor that can add to the complexity of parlay is the events that bettors place their wagers on. Using parlays on highly unpredictable sports events can increase the risk of parlay wagers, especially if the bettors don’t have adequate knowledge about the event.
- Bankroll Considerations – The amount in one’s bankroll can also determine how risky parlays can be. Those with smaller bankrolls might be tempted to place more significant amounts of bets on their parlays to profit from it. This is extremely risky, as even a single unsuccessful selection can jeopardize the money allotted for that parlay.
Conclusion
Yes, parlay bets can be extremely risky. Various factors make it a tricky bet type, especially for beginners in sports betting. However, with enough discipline and research, parlays can be a fun way to add more excitement to several matches, which is why there’s no wonder why it is popular among sports bettors. What’s essential is for bettors not to make parlay betting their bread and butter, with them only going for it if they’re confident that all of their picks will win.
And if you are looking for a reliable platform for online betting in Malaysia, then CM2Bet MY is for you. We have a wide selection of sportsbook that provides numerous betting markets on different sports across the globe. We also have classic casino games that you can try on your devices. Visit www.cm2bet.com/my to learn more about offerings.
