In today’s bookie tutorial, we will be giving you a quick and basic guide to parlays. A parlay bet, also known as an accumulator or combo bet, is a type of sports bet that combines multiple individual wagers into a single bet. In a parlay, the outcome of each individual bet is dependent on the other bets in the combination. All selections within the parlay must be correct for the bet to win. The risk is quite high in a parlay bet. This is because you need to win all selections. That is why Parlays have such a high payout, and is one of the most popular bets players make in a sportsbook.
Your sportsbook pay per head software will be able to provide your players with parlays on practically any sports event happening daily. There are different types of parlays as well, which we will get into detail later on. For now, we will walk you through how a parlay bet works.
A Bookie’s Guide to Parlays: How its Made
First, your players choose two or more individual bets to include in the parlay. These can be moneyline bets, point spread bets, over/under bets, or any other type of bet offered by the sportsbook. But you need to make the same bet types for the parlay. The sports betting software takes care of this. So, you need not worry about errors or problems with bets that your players will make.
Once your player has completed the selection, the selected bets are then combined into a single wager. For example, if they choose three individual bets for the parlay, all three outcomes need to be correct for the parlay to be successful. A lot of long-time sports bettors will be making parlays especially when there are multiple games happening over a day.
As a bookie, you need to manage your lines well to make sure that you are minimizing risk for your sportsbook. Again, your bookie pay per head software will help you manage the lines as you need to. Remember that parlay bets are high risk wagers for players. But when they strike gold and win a parlay, the payout will be good. So you need to make sure that you have enough to cover the risk of the wagers that your players make.