Baseball parlay bets
While most bettors will say that parlay bets are for suckers, there are situations in baseball that can create a fruitful situation for parlaying.
So why is baseball different when it comes to placing a parlay bet? Because baseball doesn’t use point spreads.
Baseball uses a moneyline instead, and because of that, parlays are calculated the using the odds of the games that are wagered on, which is different than other sports.
A typical payout for a baseball parlay is figured as such.
First a handicapper must calculate the payout for one of the games he or she will wager on, then multiply the projected profit plus the original stake by the moneyline for the second game to get the overall payout.
Confusing? Not really.
For example, if a baseball handicapper is wagering on a two-game parlay, and the odds on those two games are +110 and +120, and they are betting $100 each game, the profit on the first game would be $110.
The $110 plus the original $100 would then be wagered on second game. And if the second game is a winner, a handicapper would walk away with a total of $362 from both games.
It all sounds too good to be true right? Well it is if handicappers don’t follow a few rules when betting baseball parlays.
First, just like football point spread parlays, there are eight possible outcomes for a three-team baseball parlay, and only one of those results in a payoff. That means even the best handicapper could endure long winless skids before winning. Patience is key and a strong bankroll is required to weather those skids.
Second, if a handicapper is wining more than 50 percent of the time betting on baseball, they can only expect to win only 20 percent of their parlays, normally losing four out of every five parlay bets they place. And because parlay bets are placed on favorites, the payouts may not be enough to cover the long term losses.
Still, baseball bettors can use parlays effectively.
The first situation is when there are two or more heavy favorites. If a handicapper bet $100 on two games at -200, they would make a profit of $100. But on a parlay they would return $125. Not to mention the potential loss is only $100, whereas it would have been $200 on the two separate bets. In this case, the parlay would certainly be more attractive.
Second, a parlay bet can be a winner when there is a large edge in two or more games. This happens frequently in baseball, where the line that is posted differs significantly from where a handicapper thinks it should be. If two games were occurring at the same time in this case, the potential return could be significant.
Finally, if a handicapper feels strongly that a pair of teams is going to win on a single day, and the line on one team is at +150 and the other at -200, taking a risk with a $100 parlay bet on each team could return $550. Whereas if a handicapper would have bet $200 on one -200 team that day, they would have made only a $100 profit.
As you can see, baseball parlays can be profitable, if they are identified, studied and are wagered on cautiously.