As a beginner in sports betting, you must have heard the terms “parlays” and “accumulators” thrown around multiple times. These are simply betting terms used to describe the combination of multiple bets into a single wager. Such combinations usually result in bigger odds, which means there is potential for higher payouts. However, since all the selected outcomes must be successful, there’s a higher risk involved compared to regular single bets.
The question, then, is whether it is wise for you as a beginner to use parlays and accumulators. To answer this, this article explains what parlays and accumulators are all about, how they work, the risks involved, and the advantages and disadvantages.
Contents
Parlays and Accumulators: Meaning
Parlays and Accumulators both involve combining multiple bets into one single wager. They’re often used interchangeably, usually called parlay in the US and accumulator in the UK. However, if you really want to go into the technicality of terms, there is a slight difference between the two.
Parlays are a combination of two or more bets in one single wager or bet ticket/slip. On the other hand, a bet is only considered an accumulator or acca if it’s a combination of four or more selections. For your bet to win, every single selection in your parlay or accumulator must be successful. For example, if you place a moneyline accumulator in online cricket betting on four different IPL matches, all your selections must win. Even if it’s a combination of 100 selections and one came out wrong, your bet is lost.
How Parlays and Accumulators Work: Calculating Odds and Returns
Since you’re combining multiple games/selections into one single bet, you’re also combining odds. Typically, the odds of each selection involved in your parlay or accumulator will be multiplied to determine the resulting odds.
For example, let’s say you bet on Arsenal winning their match at 1.5 odds, Barcelona winning at 1.3, Liverpool at 1.7, and the city at 1.2 odds. The sportsbook determines the overall odds of this four-game parlay or accumulator by multiplying all the odds. So, combining these four odds will yield a combined 3.978 odds (1.5 × 1.3 × 1.7 × 1.2 = 3.978).
This parlay/accumulator gives you a $397.8 return for a $100 bet, which is higher compared to the return you would get if you bet on either of the selections individually. Simply put, the more selections you combine, the higher the odds, and also the higher the potential return.
Advantages and Disadvantages of Parlays and Accumulators
While parlays and accumulators are enticing for their massive potential payouts, they also come with risks that should make a bettor think twice. Let’s explore their pros and cons below.
Advantages of Parlay/ Accumulator Bets
- Higher potential returns: As earlier mentioned, the more selections you combine, the higher the resulting odds. This means there’s a potentially higher return when you bet on parlays or accumulators than when you bet on just a single game.
- Opportunity to win big with a small stake: There’s almost no limit to the number of selections you can combine, which means the resulting odds can be as high as they can be. And the good thing about high odds is that they give you the chance to win big, even with a small stake.
- Promotions and bonuses: Sportsbooks usually offer certain bonuses when your parlay or accumulator wins. This is usually a percentage of the win. Some also offer odd boosts.
- Opportunity to flex: Most sportsbooks have a feature that allows bettors to flex their bets by one, two, three games, or more. For example, if you flex your bet by one game, your parlay/accumulator bet will still be considered a win if only the selection is unsuccessful. This, however, reduces your return, even if all outcomes are successful.
- Opportunity for cashout: Sportsbooks also have a cashout feature that allows bettors to lock in their winnings even when all selections in the wager haven’t played out completely. For example, if you combine five selections and four are already successful, you can cash out to get a fraction of the eventual payout.
Disadvantages of Parlay/ Accumulator Bets
- Higher risk of losing: Compared to singles, parlays, and accumulators come with a higher risk of losing, especially because all selections must be successful for your bet to win.
- Requires thorough and often lengthy analysis: Since you’re betting on multiple games, you’ll need to research and analyze each game carefully. This will take a longer time and is often more demanding than betting on just a single game.
- Winning can be delayed: Some bettors can combine a season-long or week-long parlay. That is, they may combine different games over a long period of time. In this case, they’ll have to wait for the outcome of all the selections to play out to determine if they win or not.
- Complexity: Parlays and accumulators can be quite complicated, especially for beginners. Parlays and accumulators require perfection, and as a beginner, you may find it challenging to accurately predict multiple outcomes, especially across different sports or events.
Verdict: Should Beginners Use Parlays and Accumulators?
Winning a single game wager is never guaranteed, let alone a combination of selections in a parlay or accumulator. So, for beginners, parlays and accas are, to an extent, a red flag. After all, the more selections you add, the higher the risk of one outcome destroying your entire bet. So, if you’re still learning how to research games, understand odds, and manage your bankroll, you might find these bets frustrating and costly.
But does that mean beginners should completely avoid parlays and accumulators? Not necessarily. After all, they offer the opportunity for significantly high potential payouts. The key is to start small when using these bet types. Keep the number of selections low; a two or three-leg parlay is much easier to manage than a larger one.
Also, stick to sports or teams you know well so you can make informed choices rather than random guesses. Lastly, you should always bet within your limits to ensure you’re not risking more than you can afford to lose.