When it comes to betting on the NFL, the wagering market is so huge that even soccer fans will a betting option they want to explore. The majority of NFL betting options involve little or no risk, which is great for those who like insured bets. Of course, there are also riskier punting options available, and parlay betting is one of them.
Parlay betting is widely regarded as an incredibly risky endeavor that involves a lot of effort, and not without a reason. Making a correct prediction once is difficult enough, but doing it more than as much as 20 times in one sitting sounds impossible.
It is true that parlay betting is considered the worst NFL betting market to explore, but if you learn how to do it correctly, you will see how rewarding parlays really are. In the following article, we have prepared key tips to help you maximize your parlay betting profits. But first, let us explore the NFL betting market.
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According to latest figures provided by the American Gaming Association, the NFL generated nearly $14 billion in revenues last year. With the legalization of sports betting across the US, the NFL could reap another more than $2 billion a year in sports betting revenues. Experts from the American Gaming Association expect the funds to come from sportsbook and casino advertising, as well as and sponsorship. What is more, leading analysts say that if all 50 states authorize sports betting, then NFL betting revenues may jump to as much as $6 billion a year.
NFL Parlay Betting Tips
As you can see, the NFL betting market is only expected to grow in the years to come, and as it grows it is expected to become more favorable for all kinds of bettors – from small-time gamblers to sports betting whales. Now that you know it, we can proceed to discussing some basic tips to help you generate bigger profits from parlay betting.
Take advantage of parlay betting bonus offers
As you probably know, the parlay betting market is not among punters’ favorite betting markets, and that is why operators have to introduce various promotions and bonus offers to make the market more appealing. Nowadays, most renown online sportsbooks issue parlay betting promotions regularly. Believe it or not, the best bookmakers add up to 100% cash bonus on top of parlay winnings, which is really great.
In order to increase your parlay betting profits, always search for sportsbooks, which offer parlay betting promotions.
Use multiple sportsbooks
As with any other type of sports betting market, the odds of parlay bets tend to vary from one bookmaker to another. Further, bookies rarely keep their odds static, which means that even if your sportsbook has the best odds at present, they may offer the worst odds just a few days later.
So, in order to increase your betting profits, you might want to sign up with a number of bookies. That way you will easily compare odds at individual sportsbook and your bets will always follow the best odds.
Avoid short priced favorites
What makes parlay betting so different than other types of NFL betting is that in parlay betting, it is common for punters to simply back several heavy favorites to win at very short odds. However profitable that strategy might seem to you, you should remember that it is one of the worst strategies to choose.
Betting at short odds is always a bad idea, and that is why you should avoid it when you place parlay bets.
Do not get greedy
It is common for successful parlay bettors to start increasing the number of sections after a winning streak. The fact that betting on ten or more events can yield a payout of up to 850 to one is undoubtedly an appealing one, and yet it is not necessary to get greedy. Remember that winning or losing streaks come and go – you will hardly make a winning streak last longer by increasing the number of teams you bet on in your parlay.
Another thing to keep in mind is that making just one wrong guess is enough to destroy your whole parlay. As you increase the number of sections you bet on, you also increase the chance to make a wrong guess, which can make your whole bet go to waste.
Overall, getting greedy might be profitable in other types of NFL bets, but in parlay betting it is what you should definitely steer clear of. Instead of increasing your losing chances by increasing the number of sections you wager on, you can simply enjoy your winnings as they are.
Not being greedy will hardly increase your winnings, but on the upside it will not destroy your profits.Back to the NFL Newsfeed