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Parlays
#447462 09/06/19 05:34 PM
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According to a UNLV Center for Gaming Research study conducted with the Nevada Gaming Control Board, the average hold (the amount held onto by the house after all bets have been settled) for Vegas books is roughly 5% for all the major sports from 1992-2018. But for parlays it's roughly 30%. In other words, the books make a killing off parlays. They are the sports betting equivalent of the penny slot.

It's all psychological. Casual bettors get sucked into the allure of cashing a massive parlay and striking it rich. But it's much smarter to bet your games individually. Think of it this way: if you bet a 5-team parlay and go 4-1, you lose. But if you bet all five legs of the parlay individually, you profited roughy 3 units.

There's nothing wrong with the occasional parlay here and there if you think you have an edge. But betting them consistently as part of your daily betting routine is dangerous and playing right into the sportsbooks' hands.


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Re: Parlays
FREAK #447987 09/09/19 10:12 PM
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Thumbs UP!


CHARGE it to the GAME
Re: Parlays
UPTwnCLwn #453953 10/31/19 06:21 PM
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Nevada sportsbooks won $52 million this September with a total handle of $546 million, beating New Jersey for the first time in three months (NJ made $38 million in profit in September with a $445 million handle.

The biggest takeaway from the Nevada Gaming Control numbers were, you guessed it, parlays. Sportsbooks reported a hold percentage of 43.16% on parlays in September. The hold is the amount the book holds on to after all bets have been settled and paid out. In comparison, the hold for football was 10.35% and the hold for baseball was 6.22%. The overall hold for all sports was 9.53%.

In other words, the books made an absolute killing on parlays, like they always do. Parlays are the penny slot of sports betting. Very fun but also very dangerous. There's nothing wrong with betting the occasional parlay. But if you make it a common daily occurrence you are playing right into the books' hands. For this reason, bettors should avoid parlays and stick to individual flat betting.

Remember, if you have a five-team parlay and four legs hit but the final leg doesn't, you lose the entire parlay. But if you bet them all individually you would have gone 4-1 and turned roughly three units of profit.


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Re: Parlays
FREAK #473925 03/05/20 07:17 PM
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Public bettors love betting parlays because they represent the ultimate get-rich-quick money grab. By combining multiple bets into one, you can quickly turn $10 into $100 or $100 into $1000. However, parlays are dangerous and considered the penny slot of sports betting: highly attractive but also a big loser for the bettor and big winner for the house. The average hold on an individual bet is about 5% according to the Nevada Gaming Control Board. However, the average hold on a parlay is closer to 30%. This means the house makes a killing off parlays.



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