Wager Mage
Wager Mage
Photo: Ksenia Chernaya
However, bettors can sometimes parlay several teams together for massive one-time payouts. Parlays are most popular during football season where bettors will oftentimes string together a dozen bets in hopes of striking it rich, and sportsbooks readily play into this get-rich-quick mentality.
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A conversion safety by the defense is also possible, though highly unlikely; although this has never occurred, it is the only possible way a team...
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Words like half (and similarly, calf) are difficult for Brits to say in an American accent, mainly because the 'a' sound is so vastly different...
Read More »At a Las Vegas sportsbook, an 8-team parlay pays out at 150/1 which means $20 can quickly turn into $3,000. Even if you’re only hitting 1% of your 8-team parlays it would be a profitable strategy. It’s easy to see why bettors would be tempted by this prospect, but it’s fool’s gold. These parlays don’t pay out anywhere near the true odds of your wagers, as I’ll explain below: Let’s say you’re an unskilled bettor that hits on only 50% of your bets and you want to take a five-team parlay. If we multiply 0.5×0.5×0.5×0.5×0.5 we get 0.03125 or 3.125%. That means your expected payout would be (.03125 x $2000) – (0.96875 x $100) which simplifies to ($62.5 – $96.875) = -$34.375. In other words, for every $100 bet you can expect to lose $34.38 as compared to the expected loss of $9.09 for a single bet assuming standard -110 juice. Even at offshore sportsbooks, bettors would lose $21.85 for every $100 wagered on parlays. As it turns out, sportsbooks have made a fortune off parlays for years. According to the Nevada Gaming Control Board Gaming Revenue Reports, sportsbooks in Nevada boasted a nearly 30% hold on parlays between 1984 and 2015. In comparison, every other major sport has a hold below 5%. Year Football Basketball Baseball Parlay 1992 2.69% 2.04% 1.80% 17.26% 1993 3.55% 3.14% 2.06% 25.59% 1994 6.25% 3.19% 2.70% 37.69% 1995 3.13% 2.70% 0.86% 27.93% 1996 2.76% 2.84% 1.66% 27.57% 1997 3.39% 2.22% 2.56% 29.79% 1998 3.15% 3.82% 0.78% 23.20% 1999 5.07% 4.51% 0.63% 31.08% 2000 5.39% 4.27% 3.41% 32.07% 2001 5.76% 5.21% 3.50% 32.22% 2002 4.69% 5.91% 2.86% 32.81% 2003 5.91% 6.96% 3.20% 32.93% 2004 4.82% 5.60% 2.13% 33.27% 2005 3.84% 6.62% 5.63% 24.86% 2006 8.02% 7.27% 4.84% 30.89% 2007 6.25% 5.45% 4.80% 29.56% 2008 3.50% 5.89% 4.52% 31.36% 2009 4.45% 4.76% 4.38% 32.57% 2010 4.76% 4.74% 4.28% 33.50% 2011 3.30% 6.62% 3.52% 28.10% 2012 4.37% 4.91% 4.34% 23.33% 2013 4.98% 5.62% 4.27% 34.63% 2014 6.50% 4.89% 2.95% 36.83% 2015 4.86% 5.83% 4.39% 29.56% All 4.72% 4.86% 3.18% 29.91% Parlay bettors are essentially risking more with a lower probability of collecting, which is why we recommend a flat betting strategy Money management may be the most important discipline needed to be a successful sports bettor, yet it’s amazing how many bettors make irresponsible decisions with their bankroll. With a flat betting strategy, bettors should wager a consistent amount (typically between 2-4% of total bankroll) on every game.
In conclusion, whether skill or luck determines casino game outcomes is still up for debate. Some people believe that Skill is more important,...
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a small child barra - a small child. Also, an affectionate term for a younger person (A wee barra.)
Read More »[easy-tweet tweet=”Sportsbooks in Nevada boasted a nearly 30% hold on parlays between 1984 and 2015.” user=”SportsInsights”] Flat betting will help you ride the ups and downs of sports investing and overcome the inevitable losing streak. It’s a strong alternative to chase systems, which often require bettors to place massive bets to recoup previous losses. It’s also worth noting that even if your picks go 4-1 on a 5-team parlay, the entire bet would lose. Instead of earning nearly three units for those wins, bettors would walk home down one unit. Flat betting may not provide the type of one-time payments that bettors desire, but it’s a smart, long-term strategy used by many professional sports bettors. Consistently betting parlays will cause wild fluctuations of your bankroll, which is why most professional bettors tend to avoid them. We constantly preach betting against the public, and fading teams that are receiving overwhelming support on parlays is a sure sign of “square” action. Sportsbook Insider subscribers are able to view parlay percentages along with spread, moneyline and over/under betting trends. Have any questions for the staff at Sports Insights? Utilize our live chat to speak with a customer service representative or e-mail us at help@sportsinsights.com.
A 10 team parlay payout will return 643.08 times your wager amount using -110 odds for each leg of the parlay. A ten team parlay has a 0.2% percent...
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The minimum bet you can stake is ₦100 while their maximum Payout in Nigeria has no limits. The 1xBet Security Service is entitled to: decline cash...
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4-5 Betting Odds means that out of 9 potential outcomes, the 4/5 odds are that there will be 4 of one kind of outcome and 5 of another kind of...
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How Does a Round Robin Bet Work? This type of wager works like a parlay, where the odds of several outcomes are combined into one wager. To place a...
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