Betting Baseball Parlays
Any parlay betting on any sport is when you combine two or more bets together. A two or three or four team parlay can be a combination of moneylines, spread lines, run lines or totals. A nice payoff if you win every pick. One loss and you lose the parlay.
Baseball parlay truths: hitting a parlay at 6 to 1 for 3 teams or combination is a popular bet but a harder wager than betting games individually.
Betting baseball parlays has more options than other sports because there is no point spread or time clock. Baseball parlays can pay out a little more with true odds calculations. A good basic 2 team parlay can take place in one game. Usually betting the moneyline with the total runs in the same game is a sound betting parlay without having to pick another game.
Betting favorites with the under runs is a good option when the schedule of pitching and team matchups are favorable. However, getting good value with the underdog at +140 or +160 with the over total at -110 or -115 will be a nice payoff. A $20 parlay with odds of +140 and -110 pays net $71.
The variety of baseball parlays and how to use an anchor team with other teams hooking to your anchor winner is a multi parlay with an edge. Could be a big favorite with the Dodgers and Kershaw pitching at -220 hooked up with two live dogs or run lines or totals.
A two piece betting parlay payout is based on the odds on the first half of the parlay winnings shifted or “parlayed” onto the second half parlay bet. Betting a dog at +130 for $100 parlay becomes $230 — if it wins — being automatically placed on your second selection. If your second selection is a heavy favorite at -200 and it wins, your payout is $230 divided by the -200 odds or 2 to 1 which equals $115. That is added to the $230 for a $345 total. Your net profit is the $345 minus your $100 parlay bet to equal $245 net profit.
The basic principle of a parlay is a piggy back effect growing from each successful previous winning bet to the next bet in your parlay. A doubling down of profits compounded to create an upward swing to a greater payout than the ordinary even money bet.
A risk reward proposition but different than other prop bets since it is used in everyday betting angles by bettors looking for a bigger score. Sportsbooks offer parlay betting on most daily betting schedules. Mostly used during NFL games when the general betting public loves the favorite and over parlay on certain teams like the New England Patriots. However, the payout is usually close to a -110 by a -110 calculation. With baseball, you are getting a better payout when a +140 or +160 dog wins and that money is parlayed to another dog or favorite.
MLB Pick and Parlay: figuring out the exact payout on a parlay can be a math problem but finding a parlay calculator online is easy with quick results.
Parlays are often considered a suckers bet and only amateurs bet parlays. Filling out parlay cards with the hope of winning a 5 or 6 team parlay is a suckers bet. However, limiting a parlay with a 2 or 3 team combination can be a good hedge strategy. When you win the first part of your parlay, you have the option or hedge to the second part of your parlay that has not started yet. If the numbers are right, you can bet on the opposite side of your parlay bet and squeeze out a smaller profit or limit your losses.
In baseball, the most profitable parlay is using the run lines on an early game with a later game. Laying the -1.5 runs at +140 or +150 will be a nice payout if the second game wins. You can cover or hedge the second game with bet options if there are odds changes or a live betting opportunity happens during the second game. The run line occurs about 70% of all games played during the baseball season. Previous years stats show teams play about 50 one run games give or take 4 games either way, which is about 30% for one run games.
Hedging parlays is a good strategy to lock in profits or control your perceived losses without to much damage.