The parlay betting system is one of the few positive progression betting systems. It can be used in games like roulette and applies to certain sporting events. What makes the parlay betting system different from some other progressive betting strategies is that it doesn’t just apply to games with even money bets. Instead, this system can be used with odd and even money bets across the board. Other betting systems from this category include the Paroli Betting System and the Reverse d’Alembert Betting System.
In this guide, we discuss how the parlay betting system works, as well as everything else you need to know about it, like the odds and payouts associated with it.
There’s a method to the madness when it comes to these betting systems. They may seem complicated from the onset, but they will become easier to implement over time and practice.
The overall aim of the Parlay system is to make money and use your winnings to fund future bets. By using your winnings instead of your actual bankroll, you first – prolong how long you can afford to play for, and second – you minimize losses. It’s also a positive progression system that dictates how you will bet per round.
Positive progression systems are based on the premise of increasing your wagers after every win and decreasing the size of your wager after every loss. You must do this until you’ve won back more money than you initially wagered, and from there, only start using your winnings to make bets.
Let’s use a more practical, real-life example. If you have a savings account with money in it, you naturally earn interest on that money, and the longer the money stays put in the account, the more interest you earn. The interest you earn is at no cost to you, and you may make purchases using the interest you’ve accrued if it’s enough money.
The same idea is used in parlay betting. You first wager money from your bankroll, and then once you’ve won back enough money, you only use the cash you’ve collected from your winnings. This money technically comes from the house.
How to Play Using the Parlay Betting System
Now that you know how the system works, it’s time to move on to putting it into practice.
You’ll begin by deciding on your base betting unit, in other words, the size of your wager. Once you’ve decided on an amount, you’ll make your bet.
If you win, you’ll then “parlay”, meaning you’ll bet your winnings + your base betting unit.
But, if you lose, you accept the loss and revert to your base betting unit until you secure a win, thus able to parlay again.
The size of your base betting unit can be whatever you choose, and there is no right amount. You should only make sure that the amount you decide on meets the minimum betting amount at the table or casino.
Let’s imagine that you decide to bet $10 in a round of roulette. If you lose the round, you will stick to your $10 base betting amount for the next round. If you lose again, you will still wager just the $10. If you happen to win thereafter, assuming that the bet pays 1:1, you will now have $20 in your pocket. But remember, you must parlay your winnings + your base betting unit. This means you will bet $30 on the next round, which is the $10 base bet + the $20 that you’ve got in your pocket. If you lose after the $30 bet, you revert to a $10 bet. But, if you win, you must parlay. You will continue to bet in this order.
Pros and Cons of Using This System
There are upsides and downsides to using a betting strategy, and it’s best to know what your chances are from the beginning. Remember, betting systems aren’t designed to guarantee wins. They are there to offer diversified ways of betting. It’s also there to better your game skills and put you in control of your game. Here are some of the advantages and disadvantages of using the parlay betting system. Fortunately, the pros outweigh the cons.
You make small bets in exchange for small wins
There is still room for disappointment
The risk of losing money fast is reduced
Still up to chance whether you win
You get to spend house money instead of personal money
Dry streaks are unavoidable
It can be used on many types of betting options
Is the Parlay Betting System Profitable?
Unfortunately, you need to secure consecutive wins for the Parlay system to be effective. And, as we all know, winning streaks can quickly come to an end. With that said, the success of using this betting system depends on you knowing when to stop playing while on a winning streak.
Play at Our Casinos for Real Money
Feel free to test the system out at any of the casinos listed in our table above. You can play for real money at our casinos, but the great part is that some of the listed casinos even offer games in free mode. Free games are a good opportunity to test betting systems and strategies like the Parlay betting system, discussed in this guide.
If you’re not yet convinced, every new player will receive a welcome bonus from the casino to use on selected games. So, you might not even have to use a lot of your own money in the beginning either!