Parlay betting Arizona

Below are the five steps to help you place Parlay bets today:

Make sure you understand Parlays

The first step to placing a Parlay bet is to make sure you understand what Parlays are and ensure this is the sort of bet you want to place. Parlays are considered high risk and high reward bets. As a result, Parlay bets have high potential earnings, but you have low chances of winning at the same time.

Parlay betting meaning

Simply put, Parlay bets allow you to wager on multiple matches at once. In other words, a single Parlay will include two or more matches. To win the Parlay, all matches or legs must be correct. Therefore, it is different from placing multiple singles since the Parlay is won only if all individual legs are correct.

It may be helpful to think of Parlay bets like a giant collection of bets. In comparison, singles bets are individuals that are at lower risk and lower payout. Let’s take an example.

Let’s assume, for the sake of the example, that the Phoenix Suns are playing the Milwaukee Bucks this week. Then, next week, they will play the Denver Nuggets.

If you are interested in both games, you could place two singles. However, you could also place a Parlay in which one leg is about the Bucks game, and the other leg is about the Nuggets game. With the Parlay, you will have higher potential earnings.

Within either leg, you could place:

• Point spread betting in AZ
• Moneyline betting in Arizona
• Futures betting Arizona
• Over/under betting – AZ
• Prop bets 
• Live bets

Pros of Parlay betting Arizona

The biggest benefit of placing a Parlay is that you have higher potential earnings. That’s because the betting odds of winning are very low. Some other benefits of Parlay betting include the experience being very exciting, fun, and often free – many sportsbooks offer three-team Parlays as promotions and free bets.

Cons of Parlay betting Arizona

Before placing a Parlay, it’s important that you understand the drawbacks of this wager type. Most importantly, the chances of winning a Parlay are very low. As a result, there is a low chance of you winning any money, even though there is a potential for a high payout.

The high risk means you must be careful and strategic when placing Parlays. Not to mention, Parlay odds and payouts are always in favor of the bookie. Additionally, expect to go through long dry spells when Parlay betting. In other words, it’s a terrible long-term strategy.

If you determine that a Parlay is the type of wager you want to place, you can move on to this next step: picking the sportsbook. Simply put, Parlays are legal and accepted at nearly every legal sportsbook available. It’s up to you to select which online sportsbooks you want based on other factors, such as convenience, odds, usability, and anything else you deem important.

Best Arizona sportsbooks for Parlay betting

Our favorite Arizona sportsbooks for Parlay betting include:

• BetMGM
• DraftKings
• FanDuel
• William Hill
• Caesars Sports
• UniBet
• Bally Bet
• WynnBET Sportsbook

Of these sportsbooks, BetMGM, DraftKings, and FanDuel are our favorites. They offer the best odds and a convenient website interface. Plus, the DraftKings and FanDuel apps are very convenient and helpful for newbies. But, of course, any of the other above-mentioned sportsbooks are great too.

You may want to sign up for multiple sportsbooks to make the most of their different promotions and signup bonuses. Various sportsbooks may also offer different resources and odds that can be helpful when placing your bets.

Now that you know which Arizona online sports betting site you want to select, it’s time to start making your Parlays. This step includes considering the Parlay type and individual legs within the Parlay.

Types of Parlays

Although there are different types of Parlays, the most popular include Round Robin and Teasers. Round Robins are great for beginners because they allow you to pick out all legs of the wager in a very simple and quick format. Teasers also allow you to select multiple teams and totals, but you are not allowed to place any moneylines.

Parlay legs

In addition to the type of Parlay, you want to consider the Parlay legs as well. Once again, you won’t win any money unless every leg in your Parlay is correct. As a result, you want to think very carefully about every leg in the Parlay. Look at different odds and commentary about every leg to give yourself the best chance of winning.

Calculate potential earnings of Parlays in AZ

Once you think you know what Parlay you want to make, it’s time to calculate your earnings. Since the biggest benefit of placing a Parlay is the high rewards, calculating your earnings can help you determine if making a risky bet is worth it. Luckily, calculating potential earnings for a Parlay is super easy.

Typical odds and payout

Parlay odds are fixed at the time of the bet. So, your potential earnings will not change, even if odds for single bets change. Since odds are fixed, calculating your earnings is very easy. Here is a general chart to go off of for a $100 stake:

How to calculate Parlay payout yourself

You can also calculate the potential earnings yourself. You will simply multiply the odds for every leg and stake together. Remember, the odds must have been the odds at the time the bet was placed. Let’s take an example.

Let’s assume that you placed a three-team Parlay. Each leg of the Parlay has the odds of 1.2, 1.3, and 1.4. Let’s also assume you staked $100 in the wager. Here is what the math should look like:

• 1.2 x 1.3 x 1.4 x $100 = $218.40
• $118.40 winnings, not including the $100 stake

You can also use a betting calculator for further convenience. With a betting calculator, they will perform the same basic arithmetic, but you don’t have to worry about the math being incorrect. Just make sure that you select the right information for the computer to calculate.

Place the bet

Now, it’s finally time for the fun part; place the bet! During this time, keep up with the different games you bet on for a more fun and interactive experience. Hopefully, all of your legs will go as predicted, resulting in potentially high earnings.