How to bet MMA parlays
So, you've used our other articles to learn how to bet on MMA, and you've managed to win a bit of cash and hide it from the wife. You've seen the odds on parlay betting, and figured maybe it was time to capitalize on those big odds. How hard can it be, right?
Well unless you've got a crystal ball, parlay betting can be a bit tricky. But once you've got it figured out, you can make some serious cash.
Parlay betting is betting on the outcome of multiple fights. Since you have to pick the winner for each fight, the odds of you successfully doing this go down, so the payoff goes up.
You have to win every bet that you make in order to get paid. Make one wrong pick, and you lose the whole bet. This doesn't mean that it's a suckers bet, it just means that you need to do a lot of research to determine who to put your money on.
Let's look at UFC 111
You've got $1000 that you want to blow on this event.
You could split that up, and put $500 on Hardy, $300 on Carwin, and $200 on Brown, and if you won on all 3, you'd profit about $3159
But if you were to place a parlay bet, and these three picks one, you'd profit about 3 times better - somewhere around $9479. Not too shabby!
The downside of the parlay, if any one fighter loses - you lose the whole bet. And anyone betting on Hardy over GSP deserves to have someone take their money!
If parlay is the way you want to go, you need to make sure you know who is fighting and what their strengths and weaknesses are. Research the different fighters so you can determine who has the edge in a particular match, and then take a shot.
If you're going to parlay, the best risk versus reward strategy is to bet on two or three fights, max.
The odds of you picking four or more fights correctly go down substantially, so be smart and bet realistically. Parlay can be a good option, if you have a good strategy. Great risks can have great rewards. I like to keep my parlays for fun, and then put my big money on straight bets.