In the majority of sports betting circles parlays are often thought about as a sucker bet. After all, the bettor receives a payout at a much lower rate than the true odds in most sports. This is particularly true in football and in basketball but baseball parlays are different. The odds are calculated differently as the odds of the teams are used instead of a set system. Here is a look at how to bet on baseball parlays.
More Teams, More Risk, More Payout
A baseball parlay is simply a wager in which the player bets on multiple outcomes where all need to come true. If any selection fails, so does the entire parlay. The benefit is that the money is taken from the winning selection and then bet on the next parlay selection. That might sound complicated but what it means is that the payout multiplies. More risk but more reward.
If a bettor wants to parlay three teams, all three teams must win for it to be considered a winning parlay. If one of those teams selected were to lose then the wager as a whole would be considered a loss.
For example, it the Toronto Blue Jays were listed at -200 odds to beat the Oakland Athletics and the San Diego Padres were listed at +110 to beat the Miami Marlins, a $50 bet on a two-team parlay would look something like this:
$50 on the Blue Jays at -200, which becomes $75 if Toronto wins.
That $75 is then placed on the Padres at +110. If San Diego loses then the wager is a loss. If the Padres win, then the total payout would be $157.50. The fact that the odds for the games are factored in to the parlay rather than a set number makes it a more lucrative bet. The good news is that the bettors don’t need to calculate the math on their own because there are parlay calculators available to use online.
Do Baseball Parlays Make Sense?
The biggest question is whether or not it makes more sense to bet baseball parlays or individual wagers. There is no simple answer to that question. What we do know is that the potential betting parlays will be greater betting on the parlay than individual wagers. If a bettor is parlaying two favorites listed at -150, it makes some sense than just placing individual wagers.
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However, if the bettor is parlaying two -120 favorites, it might make sense to just make the individual bets since the payout doesn’t change enough to justify the risk of needing both wagers to hit. Bettors with smaller bankrolls might consider it an advantage to play parlays. The potential is there to win a lot of money for a small wager.
Casual Players Love Parlays
Players that have smaller bankrolls are likely to consider baseball parlays more often. That's because from a mathematical standpoint, it can make sense to take a shot. There is no definitive advantage to playing baseball parlays overall, though. The actual game odds are used but the potential is there to risk more money on a single bet and make a greater payout if you do combine the odds in one shot. The majority of sports bettors will prefer to bet individual plays on the moneyline over parlays. However, if you want to just have some fun and throw a dart, parlays are a good option. Sportsbooks like MyBookie (see the MyBookie Review) and BetUs do a great job of offering lots of props and fun outcomes to parlay.