What is a Goliath parlay?

telegraph.co.uk - What is a Goliath bet and how does it work? - The Telegraph

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Make Your Bookie Cry And Pull The Hair By Generating $23,187

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A Goliath bet consists of 247 equal bets on eight selections: 28 doubles, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, eight seven-folds and one eight-fold. We explain how it works and when to use one below At least two of your eight selections must be successful to get any return in a Goliath bet. The trebles, four-folds, five-folds, six-folds and seven-folds mean that if you get more than two winners your returns begin to jump in big increments as more of the multiple bets win, but given the number of bets, you’ll usually need a few winners to see a profit. It’s most often used in horse racing betting.

How does a Goliath bet work?

The 247 bets in a Goliath can be visualised as follows:

Why should I place a Goliath bet?

If you have eight selections in different events, a Goliath is an accumulator alternative that offers you some return even if only two or those selections are successful. However, it’s likely you will need more winners to begin making a profit. If you have eight selections on your betting slip it’s usually available as one of the multiple betting options and is far more convenient than backing all the 247 bets involved individually.

Drawbacks of a Goliath

There are two main drawbacks to a Goliath. The first is the lack of flexibility around staking. All 247 bets have to have the same stake so it’s not possible to stake more on the bets featuring your most confident selections and less on those featuring your most tentative pick, for example. Secondly the sheer volume of bets in a Goliath means there is a trade-off between choosing a unit stake that is small enough to keep the Goliath affordable and one that is big enough to make the smaller multiples (e.g doubles, trebles) worth winning.

How to calculate Goliath bet winnings

The easiest way to work out how much you have or haven’t won is to use our Goliath bet calculator, but you can work it out yourself as follows: If you’re using fractional odds convert them into decimal odds by dividing the top number by the bottom and then adding one. (For example, 2/1 becomes 3.0 and 9/4 becomes 3.25.) For each of your various multiples, multiply the decimal odds for the relevant selections together and then multiply the result by your unit stake.

How does an each-way Goliath work?

An each-way Goliath is a type of Goliath in which all 247 bets are each-way. This makes the total stake for an each-way Goliath twice that applicable to standard Goliath. The benefit of an each-way Goliath is that you will get a return not only for every horse that wins but every horse that places as well. But the number of bets means that placed horses alone are not going to bring in big profits unless the odds are good. Bookies generally pay around 1/5 of the win odds for the place part of each-way bets. As a result it makes sense to check the each-way terms on offer before striking the bet and include mainly selections for which the each-way place payout is more than your original stake.

Find out more about horse racing betting

Visit our horse racing betting section for more straightforward guides to betting on racing including:

Looking for expert racing tips and football predictions?

Telegraph Betting posts free horse racing tips every day, as well as regular football betting tips.

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Has anyone ever hit a 16 game parlay?

In the case of one bettor at BetMGM Sportsbook, the game between the Detroit Lions and Green Bay Packers was the chance to cash the parlay of a lifetime. A $25 ticket had the chance to become $726,959 thanks to a 16-leg parlay of NFL moneylines. Now, I know what you're thinking.

vsin.com - A $25, 16-leg NFL parlay almost won $726000 on MNF - VSiN

Monday Night Football has always carried a lot of significance in the sports betting world. The standalone game on the first day of the work week typically features a good matchup, a competitive game and a large betting handle. It is a chance for bettors to recoup losses from the weekend or build upon profits. In the case of one bettor at BetMGM Sportsbook, the game between the Detroit Lions and Green Bay Packers was the chance to cash the parlay of a lifetime. A $25 ticket had the chance to become $726,959 thanks to a 16-leg parlay of NFL moneylines. Now, I know what you’re thinking. What a great situation to be in needing the Packers to beat the Lions, as Green Bay took the field as a double-digit favorite. Here’s the M. Night Shyamalanian twist ... the bettor actually needed the Lions to win outright. Detroit was easily the biggest of the five underdogs on the parlay, which started with the Washington Football Team on Thursday night. The ticket almost died on the vine before it got started, as Dustin Hopkins missed his first game-winning field goal attempt from 48 yards and then made the second one from 43 after the Giants got whistled for being offsides.