In this guide, we are going to break down everything you need to know about baseball parlays, including defining what they are, how to calculate your payout, and if they are worth it.
What Are Baseball Parlays
Baseball parlays are a type of gamble where you combine multiple individual wagers into one betting slip. For the wager to pay out, all of your individual bets have to win. For example, if you place money on Baltimore, Atlanta, and Tampa Bay to win, you can only cash your wager out if all of your teams are victorious. The great thing about parlays is the crazy high odds you can receive. By combining just a few small underdogs into a betting slip, you can easily receive 10 to 1 or higher. They are a perfect way to win big, even if you have a modest bankroll.
How To Work Out Potential Winnings
For new baseball gamblers working out how your payout is calculated can be a little confusing. This example should simplify things and allow you to run your own calculations. Let’s suppose that you place $100 on Houston (+120), Dodgers (+130), and Baltimore (+140) to win their respective games in a single wager. To calculate, follow these steps:
- Choose a single game and calculate your winnings – Houston(+120) = $220 (winnings + stake)
- Calculate winnings by wagering new increased bankroll on second match – $220 bet on Dodgers (+130) = $286
- Repeat step 2 for last game – $506 ($220 + 286) gamble on Baltimore (+140) = $708.4
- Add winnings from last gamble to bankroll, minus initial stake – $506 + 708.4 – $100 = $1112.4 profit
This method is helpful to know how a sportsbook arrives at its payout figure. If you don’t feel like doing the math yourself, you can use an online calculator which does all the work for you.
Are Baseball Parlays Worth It
Baseball parlays have a reputation for being a losing gamble and one only made by beginners. They are viewed more like lottery tickets than sharp wagers, but that isn’t always the case as baseball is a unique sport where sometimes it offers great value.
One major reason why baseball parlays are not always a sucker bet is that they use true odds, unlike other sports where betting sites provide fixed odds. With true odds, you receive much higher payouts and pay a significantly lower vig.
While we recommend that most of your bets should be singles on individual games, we have found value in parlays where you find a number of red hot favorites and gamble on 3 to 4 of them winning. Or you take a long shot and find a couple of underrated teams and combine them into one wager.
When making this style of wager, you have to be aware of the very high volatility. Your bankroll will increase and decrease dramatically if you use this betting style. Due to this, you have to be very conservative with your stake; it is recommended only to use 0.5% or less of your bankroll on each bet.
After checking out our guide, you now have all the information you need to make sharp baseball parlays bets. All you need to do now is create an account at a sportsbook, select two more bets, combine them into one gambling slip and confirm your wager! Even off a small stake, you could win thousands!