NFL Parlay Bets

Despite baseball being America’s official pastime, most would agree that the NFL is now a good bit more popular than just about any other American sport. As a result, the NFL is also on the receiving end of a good bit of attention from bettors. Week in and week out, people from all over the United States and the world place wagers in order to put their knowledge of the NFL to the test in hopes of walking away with some cash. One of the most popular types of wagers made during the National Football League season is known as a parlay bet. In the following few sections, I will discuss everything you need to know about NFL parlay betting and even offer some betting advice.

What Are Parlay Bets?

Parlay betting can more simply be described as combination betting due to the fact that it is a wager that links anywhere from 2-12 separate wagers. To win the parlay, you must also win each of the separate bets you placed. If even one of the aforementioned bets loses, so too does the parlay.

The allure of parlays lies in the fact that as you add more teams to your bet, the amount of money you stand to win also increases. That is why 5-team parlays may pay significantly more money than a winning 2 or 3 team parlay.

As an example, suppose you are confident that the Philadelphia Eagles (-3) and the New England Patriots (-10) will overcome their respective spreads. By placing a parlay bet on both of these results and winning, you will find yourself walking away with more money than if you were to just bet each game individually. With that said, however, if even one of the two teams loses, so too does your parlay. Because of this, parlay wagering can quickly become the ficklest of mistresses.

How to Win Parlay Betting

Because you stand the chance of winning more money through a parlay than you do through a string of individual bets, it is no wonder why this betting type is so popular.

In my opinion, parlay betting works best with the NFL so long as your knowledge of the league is beyond basic. With so many lopsided games week in and week out, it is not as difficult to walk away a winner from NFL parlay bets as it might be making a similar bet on MLB games.

Home Field Advantage

One of the biggest factors to consider when making a parlay bet is who the home team is. In the NFL, home field advantage tends to work heavily in the favor of the team who is playing in front of their own fans. With noise levels at the maximum, opposing teams will have a hard time hearing and communicating with one another. Throughout the game, this will prove valuable as snaps will be missed, audibles will go unheard, and coaches’ sideline instructions will be misinterpreted. While the home team does not always have an advantage solely because they are playing in front of their own fans, it does prove to work out that way more often than not. If you are looking at a matchup between two relatively even teams and are unsure who to pick, 9 times out of 10 picking the home team is the appropriate choice.

Conference Opponents

When two opponents from the same conference are scheduled to meet, the game always stands the chance of being a hard-fought one, regardless of where both teams are positioned in the standings. This is so because conference opponents tend to have a better familiarity with one another, and even though there may be glaring talent disparities, the knowledge each team has of their opponent can close the talent gap considerably.

For this reason, I love picking slight underdogs in conference matchups and adding them to a parlay bet. While the fact that the squad is an underdog may make it seem like they are not going to win, their familiarity with a conference opponent can change that. Adding an underdog bet to a parlay only increases the value of your overall wager and increases the amount of money you stand to win. While conference underdogs are not always going to walk away victors, we have seen time and time again where a lowly team ends up defeating one of their conference opponents who, on paper, vastly outmatches them.

While these are two strategies you can employ when pursuing parlay wagers, they are in no way going to ensure you a winning bet every time. Parlay bets are some of the most difficult to win, there is no denying that, but with a little bit of research and carefully placed bets, you can turn a small wager into big winnings week in and week out during the NFL season.