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Understanding Parlay Types: Betting For More Profits

Sports betting has many variations. Depending on the amount of risk you are willing to take and knowledge you have, you can choose to master any type of betting. OddsMax has an abundance of resources to help you better understand sports betting, but this article is entirely dedicated to parlay.

Parlay sports bets are different from standard bets as they combine multiple individual bets into one bet which is known as the ‘card.’ Although combining the bets gives you the worse odds to win, the reward is significantly higher as well. We already have discussed the parlays and how they get you more profits in detail. Check out this guide on parlay calculator and how it works.

In a parlay, you can usually team up to 10 bets. It is important to understand what kinds of bets you must pair together to make a fortune. Any free parlay calculator will be able to crunch numbers for you and give you the final payout, but you need to understand what are the different types of parlays.

Types of Parlays

Over/ Unders

This type of wager is put on the total amounts of points that will be scored at any given game by both teams. Over/Under bets involve the sportsbook setting a “line” which is a number, you will be basing your wager on. You bet whether the total amount of points scored will be over or under the line.

The over/under or Totals bets are very popular in parlays betting as they make it possible to put multiple games on the same game. A common strategy bettors use is to bet on a team they think will win and then parlay the same bet, depending on whether the game will go “under” or “over.”

Let’s take an example where Green Bay is up against the Browns. You receive a secret top that Aaron Rogers is suffering from a shoulder injury so it is expected that the Bays won’t be able to throw the ball. Suppose line is set a +51.5 but you still believe that the Green Bay can win. In this scenario, you will want to bet on the Green Bay and the under. What it means is, you are confident that the team will win but due to the injury, you expect the team to finish under 51.5 points.

Refresher: If you haven’t read our other guides you might be wondering why I added .5 to the points. It is because sportsbooks have a standard practice of using half points in over/under bets to avoid push (a tie). 

Point Spreads

Many argue that the Point Spreads make sport betting interesting and without them we all would be betting on the favored teams, making money, leaving sportsbooks broken within a month. Usually referred to as “The Spread”, a point spreads levels the betting field for both the teams by taking points from the favored team and giving it to the underdog.

It’s easy to understand with an example. Suppose there’s a game between the Colts and the Chiefs that is favored for the latter when betting you will find the soccer odds offered for the games are something like “Colts -3” and “Chiefs +3.” Now if you bet on the Chiefs and they win by 1 point, you will lose the bet. They have to win by more than 3 points for you to walk home a winner. If they win by 1 or 2 points then the bet will be in favor of the Colts.

The points allotted to the underdog also known as the “size” of the spread, depend entirely on how mismatched are the two teams. If you check out regular sports betting, in NFL you will rarely find the spread reaching 13.5 or so, but in college football, the spread is routinely known to reach 60 points or more.

Teasers

Since the invention of online casinos, teaser parlays are considered to be the most happening development in the sports betting industry. A teaser bet is one in which the bettor is allowed to move the spread in a way to favor the bettor. Usually, the bet can be moved between 6 to 7.5 points. While a teaser parlay offers less payout but it substantially improves your odds of winning.

If we considered the above example of the Colts and the Chiefs, we have the Chiefs favored by 3 points. Now suppose you “teased the line” by 6 points then the spread for the Chiefs will move from -3 to +3. The teaser has changed the scenario incredibly, now you will win the bet if the Chiefs win the bet as predicted or if they lose by less than 3 chances.

Furthermore, you not only get to tease the point spread, but you can also tease the over/under or the total as well. This is really exciting from a bettors’ point of view.

Pleasers

Pleasers can only be put on parlay cards, which is why you will need to add two or more wagers to be able to use pleasers. A pleaser is opposite to teaser as it moves the line in the favor of the sportsbook in exchange for better than normal odds. As a bettor, betting a pleaser you will have a chance of receiving a higher payout but the sportsbook is gaining a better line. Typically, pleasers contain 2-6 teams and are generally made available on basketball and football spreads.

Moneyline

The least similar to other types of parlays, money line bets remove the point spread entirely from the equation. These sports bets are based on the winner or the loser of the event. Operating on a simple philosophy of a team either winning or losing and not concerning with the numbers, stats and other mumbo jumbo is what Moneyline is all about.

As it is a straightforward bet, you are not going to be that profitable betting for the favored team, however, if you are able to predict an upset, then you can make a huge profit. How largely a team is favored decides how less of profit you will get. But to improve your profits, you can mix a Moneyline bet with a point spread on a single parlay. However, money lines can’t be mixed with teaser/pleaser bets.

In case of teaser/pleaser, if one of the bets in a parlay card is teased/pleased, then you need to tease/please all others.

This is it folks, the ultimate guide on the type of parlays. Happy betting!

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