Sports betting strategy: Parlay rules to live by

Sports betting strategy: Parlay rules to live by

Parlays are for suckers.

You’ve heard the phrase emphasized over and over again by professional and experienced handicappers. They argue it’s a mathematical disadvantage — one that, if religiously chased, will lead the casual bettor down a road of sadness, bankruptcy and divorce. The “D” word is practically a guarantee.

Expert arguments are not entirely wrong. After all, parlays are a windfall for the 'books. It explains why such wagers are advertised heavily, often dressed up on-site with alluring profit-boost enhancements. However, there are sensible ways to attack traditional parlays or SGPs (same game) — sage strategies that, when followed, can rack units both over the short and long terms.

[ Betting strategy: SGP winning 'in the middle' ]

Win some and lose most is the typical betting mindset. Still, with a sound approach, the potential for parlay profitability increases. As someone who stupidly chases parlays on a near nightly basis, here are a few rules I’ve lived by when stringing together multi-leggers.

Leg 1: Don’t be Calvin Ridley

Hilariously, the current Tennessee Titans wide receiver, while away from the Atlanta Falcons for a self-imposed mental calibration and nowhere near a professional facility in 2022, earned a season-long suspension from the NFL for having bet on various sports, including a seven-leg NFL parlay.

Sure, randos on social media take victory laps when they hit a highly improbable +2350 10-legger, but how much did they donate before the gambling gods shined favorably down upon thee? $100? $1,000? Unless beginner’s luck kicks in, tack on a few zeroes.

Instead of chasing life-changing money, aim for believable 2-5 teamers, investing in alternative markets (e.g. Travis Kelce 50+ receiving yards instead of OVER 70.5) or money lines (e.g. Kansas City to win). Sure, the juice or vig may land in the +100 to +200 range, but it’s a smarter tactic.

Leg 2: Variety is the spice of life

There are endless paths to the mountaintop. With access in the palm of your hand in many states, you are supplied with a buffet of betting options. Again, minimize required legs in order to raise the odds of winning, but exercise creativity. There are countless choices.

For example, my “in the middle” SGPs cashed favorably last season in the NFL. What the heck is that? In a contest with a tight spread — let’s say Chicago-Green Bay, with the Bears a three-point road underdog — play both sides. Jack each team to its maximum underdog spread (e.g. Chicago +13.5 and Green Bay +3.5) and mix in action on the highest or lowest offered total.

Generally speaking, that unrelated-related three-legger generates a +100 to +120 juice. How do you win? The expected competitive game lives up to the billing. Either squad grabs the victory but by 13 points or fewer, and the over or under, whatever side you chose, hits.

Spineless? Cowardly? #TeamRaisins? Remember, cashing tickets is the name of the game.

Leg 3: Bankroll management

This idea is integral to all betting forms, particularly in SGP/parlay construction. Given the ramped-up risk attached to multi-leg wagers, it’s imperative to marry a number and remain faithful. Don’t waver. Don’t chase. No matter how many beers are coursing through the veins, stay the course. Sure, you’re bound to ride a rollercoaster — that’s gambling, fool! — but expenditure consistency is key.

Now, get out there. Reduce the juice. Get seduced by the juice. And pray that the final leg doesn't buckle.

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