Sports Betting

Betting Forum


Topic Options
#447462 - 09/06/19 10:34 AM Parlays
FREAK Online   happy
Owner



Registered: 12/01/00
Posts: 181581
Loc: Time to play the Game
According to a UNLV Center for Gaming Research study conducted with the Nevada Gaming Control Board, the average hold (the amount held onto by the house after all bets have been settled) for Vegas books is roughly 5% for all the major sports from 1992-2018. But for parlays it's roughly 30%. In other words, the books make a killing off parlays. They are the sports betting equivalent of the penny slot.

It's all psychological. Casual bettors get sucked into the allure of cashing a massive parlay and striking it rich. But it's much smarter to bet your games individually. Think of it this way: if you bet a 5-team parlay and go 4-1, you lose. But if you bet all five legs of the parlay individually, you profited roughy 3 units.

There's nothing wrong with the occasional parlay here and there if you think you have an edge. But betting them consistently as part of your daily betting routine is dangerous and playing right into the sportsbooks' hands.
_________________________
Not yet a member? Become one today and get in on the action!

Top
#447987 - 09/09/19 03:12 PM Re: Parlays [Re: FREAK]
UPTwnCLwn Online   sleepy
Veteran

Registered: 09/23/07
Posts: 1030
Loc: REDZONE
Thumbs UP!
_________________________
CHARGE it to the GAME

Top
#453953 - 10/31/19 11:21 AM Re: Parlays [Re: UPTwnCLwn]
FREAK Online   happy
Owner



Registered: 12/01/00
Posts: 181581
Loc: Time to play the Game
Nevada sportsbooks won $52 million this September with a total handle of $546 million, beating New Jersey for the first time in three months (NJ made $38 million in profit in September with a $445 million handle.

The biggest takeaway from the Nevada Gaming Control numbers were, you guessed it, parlays. Sportsbooks reported a hold percentage of 43.16% on parlays in September. The hold is the amount the book holds on to after all bets have been settled and paid out. In comparison, the hold for football was 10.35% and the hold for baseball was 6.22%. The overall hold for all sports was 9.53%.

In other words, the books made an absolute killing on parlays, like they always do. Parlays are the penny slot of sports betting. Very fun but also very dangerous. There's nothing wrong with betting the occasional parlay. But if you make it a common daily occurrence you are playing right into the books' hands. For this reason, bettors should avoid parlays and stick to individual flat betting.

Remember, if you have a five-team parlay and four legs hit but the final leg doesn't, you lose the entire parlay. But if you bet them all individually you would have gone 4-1 and turned roughly three units of profit.
_________________________
Not yet a member? Become one today and get in on the action!

Top



Activities offered by links to other sites may be deemed an illegal activity in certain jurisdictions. Viewers are specifically warned that they should inquire into the legality of participating in any games and/or activities offered by such other sites. The owner of this website assumes no responsibility for the actions by and makes no representation or endorsement of any of these games and/or activities offered by the third party site. As a condition of viewing this website viewers agree to hold the owner of this website harmless from any claims arising from the viewers participation in any of the games and/or activities offered by the third party site.

2000-2019 FREAKS Sports and Information Forum. All Rights Reserved.