A parlay is a bet that combines multiple outcomes (usually 2 to 4) in one single wager. For example, you can bet on a series of games to increase your reward instead of betting on one game.
To gain access to a parlay reward, all teams must win that you’ve betted on for the parlay. But, although it’s a superb betting method, many people are unaware of how to play a parlay on FanDuel. Want to find out how?
See below:
- First, log into your FanDuel account and search for the games you would like to place a parlay bet on.
- When you locate your first parlay bid, you’ll select the bit and click/tap on “Add to Betslip”.
- After, you can now go ahead and select your other parlay bids.
- Once you’ve achieved the above, click on “Betslip” to see an overview of your parlay.
- Here, you can place your wager, see what you’re able to win, and finally place the bet.
As you can see, placing a parlay bet on FanDuel is pretty easy with the right instructions. Parlay’s can be extremely rewarding yet disheartening. Their great as it increases your overall winning amount, but undoubtedly frustrating when one team loses your entire bet.
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Is Parlay Betting a Good Idea?
Before we get into this post, this is probably the best place to start. If you’re enquiring about how to place parlay bets on FanDuel, I’m sure you’re eager to know whether it’s worth it or not.
However, there’s a right and a wrong time to place a parlay bet like any betting style.
Many highly evolved people within the betting industry say parlay betting isn’t a good idea due to its low percentage chance of paying out. However, users should realize this isn’t always the case. For example, betting on three different teams to win a Major League Soccer (MLS) game isn’t going to cash in.
This is because the MLS league is very versatile and fair. But let’s say you bet on the Harlem Globetrotters to beat Washington Generals three times in a row, then you’ll probably cash in.
If you’re a betting enthusiast, you’ll need to develop an understanding of when to and not to use a parlay bet. But, because of the decrease chances of winning, the odds are boosted tremendously. This makes it ideal for anyone that has bankroll goals within the platform.
A lot of betting hobbyists like to set bankroll goals for a specific date. For instance, if you’re better and have a goal of reaching $1,000 by New Year, don’t want to drop below $800, and only have five days to accomplish your goal, this is by far the best bidding option to choose from.
Let’s say you have $840 in your funds. Because you don’t want to go below $800, you have $40 to make $160. The only feasible way of achieving this is through a parlay bet. With this, you can stack enough odds against yourself by betting on numerous teams with a $40 wager. If all the teams win, you’ll hit your goal of $1,000 from just risking $40.
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Tips On Placing a Parlay Bet On FanDuel
Now you understand that placing a parlay bet can provide you with significant benefits if utilized correctly. I’m sure you want to start testing out this betting technique and see if it’s suited to your betting style. Here are some tips you should consider before placing a parlay bet on FanDuel:
Check The Odds
You may or may not be aware, but odds change all the time. Because of this, before undergoing the below, you should have a rough idea of the spread within a potential bid. This way, you’re able to develop much better research, and It’s much simpler to manage your bankroll. Because of this, you should gain a comprehensive insight into your potential bids odds, so you can calculate the risk much easier.
Develop Research
It goes without saying, betting on your gut instinct will only work short-term with a bit of luck. But, if you want to stay consistent with your sports bets, you’ll want to develop some research on the game, teams, players, and much more to back your reasoning behind the bet.
People that are fully invested in betting normally know the ins and outs of every team and player within their chosen sport. Because of this, it makes placing parlays much easier because they know exactly who is playing, who’s currently on form, who’s injured, how they’ve approached previous games together, and so forth.
Manage Your Bankroll
The number one rule of placing parlays, and any bet, in fact, is managing your bankroll. Your bankroll is your lifeline, and without it, you cannot place bids. Before placing a parlay, think to yourself, “can I afford to lose this money.” If the answer is yes, then you should place the bid with the other tips in mind.
Parlays were introduced by betting companies to increase their yearly profits. This is because they are the most unlikely bet to cash in. However, if you can calculate your risk and make accurate decisions, it could also be gratifying. Needless to say, there’s a much greater risk of losing, so be prepared to lose before you win.
Calculate The Odds
If you’re confident about placing the bet, you need to calculate the odds of winning. Many places online have free odd calculators, and it is more than worth trying 3 or 4 of them to calculate a mean average. Note, this doesn’t guarantee you’ll win, but it’ll undoubtedly give you a higher chance of success than if you didn’t do it.
Feel Confident When Placing Your Bet
When you feel confident about the bet and have undergone the appropriate measure to minimize the chances of risk, you can now place the bet. Before placing, double-check your findings to ensure you feel good about placing that certain bet.
After reading, you should now be aware of how to place a parlay bet on FanDuel. Don’t get me wrong, parlay bits are great, but you have to be prepared to lose before winning. However, if you do win, you’ll receive much better odds than you would have ever got from a normal bid.