Parlay betting Arizona is a great method to gamble for those that prefer the riskier bets. On this page, we want to introduce you to the idea of Parlay betting. We also want to discuss how Parlay betting odds are calculated and the best places in the state to bet for those considering betting a Parlay.
Introduction to Parlay betting Arizona
Parlay betting Arizona is all about combining multiple bets into a single betting line. These are risky bets, but the Parlay bet odds tend to be a lot higher to compensate for that.
People have won millions of dollars putting together prop bets with dozens of betting lines. Although, you can probably expect most of your prop bets to be between 3 and 5 betting lines. It cuts the risk, but you can still enjoy a sizable payout if the bet ends up coming through.
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What is a Parlay bet in AZ?
Parlay bets are an interesting way to gamble.
Your traditional bet is going to be formed of a single betting line. If that betting line wins, then you win.
Parlay bets will be formed of multiple betting lines. They are essentially a combined bet. For example, you may be betting on the winner of three different games. You will then Parlay them into a single bet.
With a Parlay bet, every single line added to that bet needs to be a winner, or you are not a winner. So, for example, if you are betting on the winner of those three games, you need to be correct with all of your predictions or get nothing.
How Parlay betting odds are calculated – Arizona
This is where things can get a little bit confusing. First, this is because there are a few Arizona sportsbooks out there that calculate odds slightly differently. Second, this is because Parlay bets can be somewhat lucrative for sportsbooks, and thus they bump up the odds ever so slightly.
So, we are going to give you information on how to calculate Parlays here, but this may change from sportsbook to sportsbook. Your best option is to add a Parlay bet to your betting slip, and the sportsbook will tell you the odds that they offer.
Convert to decimal odds
Most Arizona online sports betting sites will default to American odds. The problem is that it is tough to calculate Parlay odds from American odds. Well, at least on your own. This means that your best option is to convert the sportsbook to decimal odds. The sportsbook will likely have a way to do this.
Multiply the stakes together
Once you have converted to decimal odds, you will want to multiply each of the decimal numbers on your bet together. So, let’s say you have betting odds like this; 1.2, 1.8, 2.
Your calculation will be 4.32. These are your odds.
Multiply by your stake
Now multiply that number by your stake, and you have your potential winnings. So, in this case, let’s say you are betting $100. This means that your winnings for this bet would be $432.
Best Parlay betting Arizona
As we said, nearly every single sportsbook in Arizona is going to offer Parlay betting. This is because it is an incredibly lucrative bet for a sportsbook to offer. Because, let’s face it, the bulk of Parlay bets are going to lose.
Since you probably don’t want to spend a ton of time tracking down sportsbooks to gamble at, this is a list of some of the most popular sportsbooks to gamble at:
- WynnBET Sportsbook: this site offers a plethora of different sports and betting markets. This can allow you to put together some creative Parlay bets.
- Unibet: if you love your prop bets, then Unibet is a great choice. They can add a lot of risk to your Parlays, but they can help bump up your odds considerably.
- Bally Bet: this site often offers a lot of betting markets that we haven’t seen offered anywhere else, so it is always worth checking out.
- Caesars Sports: this sportsbook in Arizona often offers some awesome betting bonuses. These betting bonuses can often be added to your Parlay bets.
- William Hill: since you probably want to achieve the best possible odds on your Parlay bets, William Hill is always worth checking out. They also offer a decent number of international betting markets.
- BetMGM: this site is always going to be awesome when it comes to betting bonuses and great odds.
- Draftkings: if you love mobile betting, then the Draftkings app is one of the best that you can find out there.
- Fanduel: this sportsbook offers regular Parlay boosts. This will allow you to squeeze a little bit more from the bets that you place.
Pros and cons of Parlay betting in Arizona
Pros of Parlay betting Arizona
So, now you know what Parlay betting involves and some of the places to gamble, what do you say to talking about some of the advantages of Parlay betting?
Great odds means great payouts
The whole reason why people gamble is to ensure that they can win as much money as possible. Parlay betting in Arizona offers some tremendous betting odds. Even if you build a Parlay up from bets that seem pretty safe to make, the payouts are going to be decent.
As we said at the start, some people have become millionaires from extensive Parlay bets. Obviously, the chances of that happening are exceedingly low as you would need to have dozens and dozens of lines on your Parlay. But, it could happen.
Have to spend less money to see big wins
Because Parlay bets tend to offer better odds, it means that you do not have to spend so much to see some decent returns on your gambling. For example, a $1 Parlay bet on five favorites to win a game could potentially deliver greater returns than a $10 single bet on an underdog.
Of course, because you are spending less money on the bets, it is going to end up stinging a lot less if your bet doesn’t quite pan out in the way that you wanted it to.
More creative bets
This is one of our favorite things about Parlay betting. You can get pretty creative with your bets. While there are some sportsbooks that will offer a Parlay generator that you can use, you will still always be able to build up your own Parlays. This means that you have a bet that is tailored to your knowledge of the sport.
Cons of Parlay betting Arizona
We are sure that you already have an inkling about some of the disadvantages of Parlay betting. However, because we don’t want you to see Parlay betting Arizona as a guaranteed way to win huge sums of cash, it is only fair that we make it immensely clear what the advantages are.
Parlay bets are the riskiest bets that you can place. This is because you not only have to win one betting line, but you have to win multiple betting lines.
Even if you opted to bet on only favorites, there is always still that risk that one of those favorites won’t perform, and this can completely destroy the bet that you made.
Basically, Parlay betting Arizona is not going to be for the faint of heart.
Require a lot of knowledge of a sport
Parlay betting requires an intimate knowledge of the sports that you are looking to gamble on. This way, you will increase your chances of making a number of successful picks.
Remember, the best returns for Parlay bets are always going to come when you do not bet the moneyline. This is why it is so important that you have a complete understanding of how a particular sport works. Then, you need to be able to make those more complicated bets.
FAQ’s About Parlay betting Arizona
In theory, there isn’t a cap. So you can have as many betting lines on a Parlay bet as you want. However, remember the more betting lines you add, the riskier your bet becomes.
A Parlay insurance is a specific betting bonus. The idea of a Parlay insurance is that if one of the betting lines fails to come through, you are still seen as a winner of the bet.
Some sportsbooks will give odds boosts to their Parlays. This may be a regular promotion that they run, or it may be just an odds boost built into the sportsbook.
Yes. Although, you would be taking a huge risk if you did this. After all, you really do need to have strong knowledge about every bet that you are placing.
This is going to be dependent on the sportsbook. Most will allow Parlay betting with the bonuses that they give you. However, it is always worth checking the terms and conditions of the bet if you are unsure.