May 16th, 2017
The Fun part about parlay wagering is seeing how much your picks combination will payout!
Granted, when you’re betting mostly on favorites, you can’t expect to pay off the mortgage or that monthly car payment, because the odds won’t be as inviting.
However, if you take the same approach as most bettors do and treat parlays like you do winning the lottery, then simply treat it as if you were buying another form of a lottery ticket.
In fact, Las Vegas legend Mike Lee was a friend of mine and was one of the most respected handicappers in our industry before he left us too early, use to share with me, “betting parlays is a suckers bet, it’s hard enough to win one game, let alone a combination of them”. True Mike, but man that payout is sweet!
Keeping Mike’s advice in the back of your mind, treat parlay wagering as a fun activity and use this opportunity to think outside the box and use a system that will eventually hit pay dirt. For example, if you go to the ATS STATS, they have a great feature called the “Parity Value Index”.
The PVI is a tool invented by Canadian Sports Handicapper Ron Raymond who believes everything runs in cycles in the numbers game and what you want to do is take a small cycle of 3 games and a large cycle (overall season record), combined them together which will produce a percentage of what the side and total should be in a team’s next game.
Think about this for a moment, no team can win forever; they have to lose eventually, or in some team’s cases win the odd game eventually!
Parity Value Index
Therefore, use the “Parity Value Index” to get a percentage of each team’s chances of winning in their next game. Imagine the Kansas City Chiefs on a 5-game losing streak and they are the home underdog in their next game.
Chances are the odds makers are going to make them a heavy price underdog to win their next game and if you include a few small favorite or medium size underdogs in a parlay, you can have a pleasant payout.
However, how much will that parlay ticket pay? This is where the Parlay Calculator comes in to play and helps you calculate the payout.
Here’s exactly how it works.
Do your homework and handicap your games, then get the odds and simply enter them in the parlay calculator and it will calculate your payout. Let’s say for example, the following 6-team I picked below had the following money lines:
- New Orleans +135
- Chicago Bears -135
- New York Jets -115
- Jacksonville Jaguars +155
- Tennessee Titans +140
- Denver Broncos -150
When I enter the money lines in the Parlay Calculator: +135, -135, -115, +155, +140 and -150 and put a $20 wager on this ticket, it would payout $1540.17 at any Las Vegas or Offshore sportsbooks.
In fact, in order to get the best casino bonuses, I would recommend you shop around for the best deposit bonuses and try to bet with some house money.
One small note, when you enter your money lines on your Parlay Calculator, you have to make sure you enter the minus sign in front of the favorites like -135, -115 and -150. For the Underdogs, you can simply enter 135, 155 and 140.
Are you ready to take a parlay chance this weekend? If so, handicap your games and then check out the price payout at the Parlay Calculator website.
Happy hunting “Parlay Animals”!