NFL Football Parlay Betting
NFL betting and parlay bets go together like, well, Thanksgiving and football! NFL football parlays are easily the most wagered bet type in pro football betting markets aside from straight wagers, but teasers are a close second in popularity. We analyze the parlay bet extensively in our article on parlay betting in sports, which has the full parlay odds for the top sportsbooks online. In this article, we’re going to take a look at an NFL-specific strategy for NFL parlay betting. Some of them won’t change much from traditional parlay betting strategy, but it’s good to know the ins and outs of each sport.
NFL Betting Sites For Parlay Bets
Football Parlay Betting Rules – Limit Your Parlays To 2-3 Selections
This is one of the biggest mistakes that bettors make when it comes to betting parlays, especially those betting football, either pro or college. Too many football gamblers don´t follow the football parlays rules and decide to try and take a shot at the whole slate and will often place 8-10 team parlays. They’re playing right into the hands of the oddsmakers.
Parlays can be profitable (although, most times it’s still usually better to place straight wagers) but certainly not when they’re more than three teams or selections. The sportsbooks increase rapidly to deal with in the increased risk of each payout.
With two teams, the offshore betting odds are +264 at most sportsbooks. The true odds of this parlay are +300. With three teams, the offshore odds are +600, but the true odds are +700. The bookies have an advantage here, but it’s much slimmer one than they do at as the number of teams increases.
NFL Football Parlay Example
For instance, a 4-team parlay pays about 12/1, but the true odds are 15/1. It only gets worse from there. A 5-team parlay pays about 24/1, but the true odds are 31/1. At 9 teams, the odds pay 335/1 but has true odds of 511/1. There’s no possible way to overcome this type of an advantage by the oddsmakers. Even if you’re getting an excellent price on each bet, these bets are -EV regardless of the selections. Don’t be enticed by the larger payout or trying to pick every game each weekend.
NFL parlays of more than 2-3 teams are a quick way to lose your bankroll quickly. The payouts may seem enticing with these bets, but as you can see from the above true odds – the sportsbook’s advantage is far greater than any 2-3 team parlay. Over the long haul, these bets are simply not profitable, even if you are the best sports bettor who ever lived. You’re betting off placing straight wagers on sides and moneylines as individual bets.
Using Fixed Odds In Parlay Betting To Your Advantage
At many sportsbooks, fixed football parlay odds only apply to selections that are -110. Bettors can add another selection that isn’t -110 into their parlay and force a fair calculation. For instance, if you bet a three-team parlay with two selections at -110 but another at -120, you’re going to end up with a potentially higher payout with the true odds. This is particularly notable for football betting markets. Many sportsbooks won’t come off certain numbers and will adjust their moneyline odds on the attached point spread far beyond -110. It’s important to be sure how your sportsbook is calculating their parlays before trying to use this to your advantage.
Best Betting Sites For NFL Football Parlays
We don’t advise betting more than two or three teams on NFL parlays (preferably two), and you won’t see much of a difference in odds between different sportsbooks on this front. Most betting sites pay +264 on two-team parlays. However, check out the chart below before making a deposit if you think you’ll be betting a lot of parlays. To learn more about other football betting strategies visit our NFL Betting Guide.
Best Sites For Football Parlay Betting
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Odds On Team Parlay Bets At NFL Betting Sites
Advanced NFL Parlay Betting Strategy
We’ll dive deeper into parlay strategy in this section when it comes to NFL betting markets. Much of the strategy will be similar to our article on parlay betting, but we will reiterate or expand on these concepts here, and they will have more of an NFL-specific focus. This should be used by bettors who have a prior experience in online betting. If you are new, go ahead and try but do it with caution.
Using Parlays to Clear Bonuses
When you sign up for an NFL betting site – you will almost certainly receive a deposit bonus. If you’re smart, you will maximize this bonus, as there is no downside to freeplay funds and these can be helpful when building a bankroll, early on. However, it’s important to remember that free play bonuses do not work the same way as cash or cash bonuses. And, it’s quite rare that betting sites offer cash bonuses these days.
Free plays and cash bonuses, also come with a rollover, which is considerably more than the 2x rollover most sportsbooks require when you make a deposit with your funds. Free play bonuses will only return the amount won and not the staked amount. For instance, if you bet $110 to win $100 on a side or total, if you win your bet, you would receive the $110 back and see your account grow $100. That’s not the case when it comes to free play. If you win a bet with free play, you will receive the amount won, but the free play will not appear back in your account. Using the same scenario, and betting amounts – you would not see $210 returned to my account, in the form of free play, but would only see the $100 winning wager.
Since free plays don’t work the same way as cash – it makes sense to run them through several times to maximize their upside. That means betting 2-3 game parlays. We don’t want to go higher than that, again, the edges by the sportsbooks are much too high to bet more than three-team parlays. It’s almost always the correct move to clear your free play bonuses by betting parlays. Unless you have a substantial edge on a proposition bet (although, many sportsbooks won’t let you clear free plays on props). You should be able to find edges on NFL games if you bet at the right sportsbooks. Betting these games on straight wagers and also wagering them in freeplay parlays is an excellent strategy that will grow your bankroll and maximize your wagering opportunities.
Circumventing Betting Limits
Another reason to bet parlays is because you’ve bet the maximum allowed on a straight wager and wish to get more money down on a side that you believe is a profitable bet. Pairing this bet with another wager that you also believe to be profitable is an excellent way get more money down on +EV wagers. For instance, if your sportsbook has $5,000 maximum win amount on NFL sides, but you really like the Browns at +7. You have bet your maximum $5500 to win $5,000, but still, wish to bet more on the game.
You can then parlay the Browns +7 with another side or total and get down $1,000 or more on a 2-team parlay, even at sportsbooks with extremely low limits. This usually won’t draw flags from management, if done sparingly, but if you’re maxing out sides and parlaying them with other bets on a regular basis (and winning) – this may become an issue eventually that can cause your account to be limited.
Disguising Your Player Profile
Speaking of getting accounts limited, that’s another reason to throw in some parlays or other exotic bets that are -EV or possibly break even. It’s important for bettors to understand that every account has a profile. Managers will look at your account and label you as a recreational player, a sharp bettor, or something in between. That, of course, can also change depending on what type of bets you make and your profits. Parlays, generally, are poor wagers. It almost always makes more sense to bet sides, totals, and moneylines as straight wagers. Or, to bet parlays in smaller amounts with your straight bets. That’s certainly a viable strategy when betting sports online.
Parlays may throw management off your back, at least, for awhile, if you are a profitable bettor. If you’ve won money long enough betting sports – there is no doubt you’ve had your betting limits reduced to near nothing and in some cases, having your action completely cut off. When risk management looks at your account and sees nearly 100% straight wagers and few parlays or other exotic bets – they’re likely going to think you have a clue when it comes to betting sports. Especially, if you’re winning and getting good numbers.
Throwing parlays into this, even if you’re placing the same wagers, but adding a few parlays here and there, can allow you to keep your betting limits higher and prolong the use of your account. This is particularly true for sportsbooks that are aggressive with cutting betting limits on any player they suspect is sharp.