10 Commandments of Sports Betting
- Have several betting accounts to search for value
- Always be informed, knowledge is power
- Never bet on your own team
- Not every day is a betting day – pick your spots
- Have a staking plan to control your urges
- Never (ever) chase losses
- Follow your sportsbooks on social media sites (they have specials)
- Avoid adding big favourites to parlays/accumulators
- Don’t get tempted by casino games
- Enjoy it!
Parlay betting is one of the best ways to win big with very little staked. Obviously the odds of several results going your way are less likely than just a single, but if you know your sport you can make some serious money from parlay bets. Many people refer to a Parlay as an accumulator and these are without a doubt the guilty secret of every sports betting enthusiast.
There are a few ground-rules which any good bettor will avoid when considering who to back in his parlay.
Firstly: avoid betting on your own team. Backing your own team to win is always a risk, as your own inherent bias may cloud your judgement. It’s best to avoid your own team, as they frequently seem to let you down!
Secondly: don’t get too greedy. Calling five results correctly is a mighty effort, getting ten is extremely rare and 15 are once in a lifetime kind off odds. When you’re happy with the number of teams you have backed, don’t get greedy and chuck in a few ‘big names’, who look guaranteed to win. They will scarcely improve your return and they are very capable of letting your whole parlay bet down.
Thirdly: if in doubt stick to home teams. The vast majority of games will be won by the home team and home advantage gives most clubs a slight edge before the game even begins.
Most sportsbooks will have some kind of long standing promotion to encourage you to place parlay bets. These could be win bonuses if a large enough accumulator wins (bet365), money back if one leg lets you down (William Hill) or an enhanced price on certain amounts of games (Paddy Power).
If you want a big return from four or five matches then betting on the draw is normally a good way to go. The draw is normally priced at about 3/1, so five draws from hard to call games, quickly produces odds of around 600/1. Not a bad return for calling five results!