THEY PLAY — YOU WIN! Join now
MAIN / / What are Parlays and Teasers?

Parlays and teasers are a great way to increase your potential winnings for a much higher return. In fact, parlay bets have higher potential payouts than any other type of bet in the sports betting industry.

Not every online sportsbook offers teaser and parlay sports betting, but luckily Parimatch has you covered. With monster parlay payouts and a state-of-the-art betting app, more people than ever are locking in their bets with Parimatch.

You may be asking yourself, “What is parlay betting?” or “What is teaser betting?” Don’t worry, it’s easy to understand.

Continue reading for an in-depth guide on parlays and teasers and how you can use them to win large sums of money.

What Is Parlay in Sports Betting?

A parlay bet is a simple wager where the bettor places a single bet on multiple picks. To get a parlay bet payout, all outcomes must be selected correctly.

You can place a parlay bet when you choose two or more picks. With every additional pick, your potential winnings increase. However, the risk also increases.

With parlay sports betting, you can even connect multiple picks from various markets across different sporting events. For example, you could bet on the moneyline in a football match, the spread (handicap) in a basketball game, and the over/under in a hockey match.

Each additional outcome you connect to your string of picks is referred to as a “leg”. For your parlay wager to “stand” (payout), all outcomes must be correctly selected.

For example, if you had a parlay bet with five “legs” and you guessed correctly on four of the five legs, your whole parlay lose.

Alternatively, if you picked all five outcomes accurately, you would win significantly more than if you bet on each straight bet individually.

With parlay bets, fortune favours the bold.

Which Bets Aren’t Available for Parlay?

There are countless combinations for a parlay bet, but there is one major restriction. With parlay sports betting, you can’t place multiple bet types on the same event.

For example, you can’t parlay the moneyline and the spread (handicap) of the same game. If part of the parlay is directly connected to another outcome, then it is off-limits.

Bets on the same event can not be united in a parlay

If you try to connect multiple outcomes on the same event, the parlay tickets will automatically notify you and prevent you from proceeding.

What is the Payout for Parlay Bets?

Parlay sports betting is a top-notch option for bettors looking for “life-changing” parlay payouts. Each outcome you add to your bet slip acts as a multiplier for your total potential winnings.

The more parlays you add to your bet, the higher your parlay payout. However, at Parimatch, there is a cap, set at odds no higher than 2000.

To calculate your payout, simply multiply the decimal odds by your original stake. The parlay calculator formula for a 3-leg parlay looks like this:

(odds 1 * odds 2 * odds 3) * total stake = potential total payout

Here’s an example of a 3-leg moneyline parlay:

Betting on 3 football matches for a parlay on Parimatch

The home team has been selected to win in all three separate matches.

Next, multiply the three decimal odds of the parlay bet.

(1.58 * 3.80 * 2.44) = 14.65

The multiple of the odds from your three picks represents your baseline odds for the whole parlay bet. In this case, the odds that all three outcomes will occur are 14.65.

Next, multiply the parlay odds (14.65) by whatever your stake is. In this example, the wager is 300 TZS.

14.65 * 300 TZS = 4,394.93 TZS = total payout

This is what the parlay ticket looks like on the Parimatch betting application:

Betting on 3 football matches in a parlay in betslip on Parimatch

Here is an example of a 7-way parlay where the home team has been selected to win in every match. Take note of how massive the potential payout is with one small wager of 300 TZS.

Betting on 7 football matches for a parlay on Parimatch

With a 300 TZS wager, you could potentially win nearly 250,000 TZS!

What Types of Bets Can You Include in a Parlay on Parimatch?

The previous examples only showcased three-way moneyline bets, also known as 3-way betting. One of the coolest aspects of parlay sports betting is that you can string together multiple bet types across different sports.

Want to bet on the “over” in a cyber basketball game and the home team “to win” in a live football match? No problem. If you’re feeling bold, why not get explosive and throw in a “map 1 grenade kill” from CS: GO? Sure, you can do that too.

Here’s what the parlay ticket would look like:

Betting on different events in a parlay on Parimatch

The Parimatch betting application offers the option to include all of their bet types in a parlay bet (moneyline, handicap, totals, special bets, etc.) The only exception is, you cannot parlay multiple wagers types from the same event.

What Are the Most Popular Parlay Bet Types?

Bettors usually combine the following bets in parlays:

  1. Moneyline: Betting on the final outcome of a match
  2. Handicap: Betting on the point spread
  3. Totals: Betting on the total amount of “something” happening
  4. Special bets: Bets unique to a specific sport

You have the freedom to include as many bet types as you would like or you can just stick to one additional bet. Remember that the parlay odds cap is 2000.

Adding parlays after those odds have been reached will only increase the risk you take on — not the potential payout.

How Does a “Push” Affect Your Parlay on Parimatch?

Remember, in order for parlay sports betting to payout, you need to pick every outcome correctly. So what happens if one of the outcomes you select ends in a tie?

If one of your “legs” results in a push (draw or tie), Parimatch will adjust the odds of that specific portion of the parlay to 1.0. This is called “settling the odds”.

Even though you didn’t pick the outcome correctly, you won’t lose your parlay. However, you will lose the multiplier from the odds on that portion of the parlay.

With most online top sportsbooks, a push in a parlay results in a total loss. Parimatch offers a much friendlier solution that makes a lot more sense.

What Is Teaser in Betting?

Parlay bets can be challenging considering you must correctly select at least two outcomes to win the bet. Teaser betting is put in place for those who wish to parlay, but don’t want to take on quite so much risk.

A sports betting teaser allows bettors to adjust the point spread and/or the over/under (total) line in their favour. In other words, you get to “play bookmaker” and tweak the numbers so they work to your benefit.

The end result is a multi-bet with a higher chance of success, in exchange for a smaller potential payout.

Certain sportsbooks allow you to adjust the spread (tease the spread) in either direction. In general, betting teasers refers to making adjustments so the bettor’s probability of winning their bet parlays increases.

Teaser betting isn’t designed to increase your payouts but rather to boost your probability of a successful bet.

Choosing right on more than one bet is never easy, no matter the point spread. However, bettors can find a bit more confidence in their bets with the “teased” lines.

While there are no teasers on Parimatch, we have a huge selection of spreads (handicaps) and totals, so you can select the best option beforehand and include it into your parlay bet. The great outcome is that you won’t need to adjust anything and lessen the odds!

What Are Sweetheart or Monster Teasers?

A sweetheart teaser, otherwise known as a monster teaser, is a special type of “juiced up” teaser. They function similarly to standard teaser betting with some minor differences.

How Does a Sweetheart Teaser Work?

Traditional teaser betting allows you to adjust the spread or point total by 6, 6.5, or 7 points and only requires two connecting outcomes.

A sweetheart teaser allows you to adjust the lines by 10 or more points, but you need to choose at least three connected outcomes. Every leg of a sweetheart teaser has to be adjusted in the bettor’s favour by the same amount of points.

The most typical monster teaser is a 3-team 10-point format. Still, it’s not uncommon for bettors to move the spread by 13 points or to include more than 3 legs.

Is a Sweetheart Teaser a Good Bet?

The core principle of a sweetheart teaser is to significantly adjust the lines in your favour. Seems like an absolute no brainer at first glance, right? For some, it is, while others think long and hard before entering the realm of monster teasers.

Unfortunately, there is no binary answer to the question — the answer is maybe. It all depends on your level of comfort with risk and your ability to spot value in the market.

Remember, for a sweetheart teaser to payout, every leg must be selected correctly. Even with odds skewed by 10 points in your favour, you still have to win at an extremely high clip just to break even.

Then again, it is easier to make the right pick with adjusted lines, so it may be worth it.

A good way to decide if you want to put down a monster teaser is by calculating the average implied probability of each individual bet. Next, compare the average implied probability of the individual bets against the implied probability of the sweetheart teaser.

Whichever implied probability is higher may be the right direction to take. Need help calculating implied probability? Head to our article on calculating sports betting odds.

Are There Other Ways to Reduce the Risk?

A brilliant way to bet on multiple events and balance the risk is so-called system betting. You select three or more events and combine them in a system in your payslip. You also select how many of these predictions have to be correct for a winning system. For example, you can opt for “2 out of 3”. This way, if any two of your predictions are correct, you win the bet! You’re not losing everything because of a single flaw.

Systems are rich in options and worthy of a closer examination. If you’re interested, check out our detailed guide on system bets.

Are Parlays Worth Placing?

Each additional leg of your parlay requires more effort and you will assume more risk.

So why are so many people engaging in parlay sports betting? For most, the answer is really quite simple. The monstrous potential payouts that come with parlays can literally change your life. So, all you have to do is choose the sport you like (for example, football) and finally place a pre-match or live football parlay bet.

Advantages of Parlay Betting

  • Easy to Add On

Parimatch offers fresh betting options every single day. This means there are heavy favourites each day. Straight bets on the favourites are generally understood as an ineffective long term strategy due to the meager payouts. However, tying all the favourites together in a parlay could make for a very respectable payday.

  • Big Payouts

The biggest advantage of any parlay bet is the potential for epic parlay payout. By nature. parlays are a bet of compounding interest, so a nominal bet of 100 TZS can go a very long way. In other words, you don’t need to push the envelope by wagering a large sum to receive a big parlay bet payout. But if you fancy large wagers, the total potential earnings can get astronomical — especially in parlays with five or more legs.

Conclusion

Parlays and teasers are a thrilling way to spice up your betting life. You can win sums of money that rival the salaries of the professional athletes that you are betting on.

Plus, it’s simply loads of fun composing a beautiful symphony of bets that all win big. When you hit a big parlay, the feeling is insurmountable.

With the Parimatch betting app, you can lock in your parlay bet in a matter of seconds while you’re on the go.

Head on over to the Parimatch website and see for yourself how easy it is to place a parlay bet. Remember, fortune favours the bold!

do you want to be the first to get updates?

Subscription was successfully completed.