Bovada is an online betting platform where users can place bets on various sports events, including parlays. It’s become a go to destination for lots of players in the United States.
Using Bovada for parlay bets can be a convenient option if you’re interested in combining multiple bets into one. This can help you to potentially increase your payout. Bovada offers a variety of sports and betting options for parlay bets. As a result, you can customize your selections.
I’ve often enjoyed using these to try and win big! While it doesn’t always work out its still fun taking a shot on a parlay occasionally.
And let me be clear, it is essential to understand the risks involved with parlay betting. After all, you need all your selections to win to receive a payout. Endeavor to do your research and manage your bankroll responsibly when placing parlay bets on Bovada.
Current Sport Book Offerings
Bovada’s Sportsbook is a top online betting platform that provides its players with a wide range of sports to bet on. These options include the following:
- Football (NFL, NCAA)
- Basketball (NBA, NCAA)
- Baseball (MLB)
- Soccer
- Tennis (ATP, WTA)
- Golf (PGA Tour, European Tour)
- MMA (UFC, Bellator)
- Boxing
- Hockey (NHL)
- Motorsports (NASCAR, Formula 1)
- Rugby
- Cricket
- eSports
With such a wide selection, users can find betting options for both popular and niche sports. And the site frequently updates its offerings to align with current sporting events and seasonal competitions. As a result, users can have a comprehensive array of betting opportunities available.
Besides this, the company provides various betting types within each sport. This allows users to customize their wagers according to their preferences and expertise. It is always smart to check the platform for the latest updates and offers.
This is because they may vary depending on location and time. And sometimes when I haven’t logged in for a month or so they throw me a bonus with a free offer.
What is a Parlay?
A parlay is a type of bet where bettors combine two or more individual wagers into a single bet. The key characteristic of a parlay is that all selections within the bet must win for the parlay to be successful. If any one of the selections loses, the entire parlay loses.
Parlays offer the potential for higher payouts compared to individual bets because the odds of each selection are multiplied together. This means that the more selections included in the parlay, the higher the potential payout. However, since all selections must win for the bet to be successful, parlays also carry a higher level of risk.
In addition to traditional money line bets, these types of wagers can involve various types of bets. Some of these include point spreads, totals (over/under), and prop bets. Bettors have the flexibility to combine different types of bets and wager on multiple games or events within a single parlay.
These bets are popular among bettors who are looking to increase their potential winnings by combining multiple bets into one. However, they require careful consideration and analysis of each selection.
While they can yield significant profits, they also have a higher likelihood of losing due to the need for all selections to be correct. For this reason, you should approach parlay betting with caution and ensure they understand the risks involved before placing their wagers.
Parlay Rules on Bovada
When placing a parlay, players need to understand and adhere to the following set of rules:
1. Selection Limits
You are required to select a minimum of two lines and a maximum of 12 lines to create a parlay. This ensures that you have enough selections to form a combination bet while avoiding overly complex combinations.
2. Impact of Pushes
There can be a push sometimes, where one or more of your selections result in a tie or push. When this happens, the number of selections in your parlay will be reduced accordingly. For instance, you may have a four-team parlay and two of the selections result in pushes.
Then, your parlay will be recalculated as a two-team parlay and the payout will be adjusted accordingly. Similarly, a parlay may also reduce to zero teams due to pushes. Then, it will be graded as a “Push,” and your initial risk amount will be refunded.
3. Winning Requirement
Except for pushes, all selections within a parlay must win for the entire bet to be considered a win. If any single selection within your parlay is lost, the entire parlay will be deemed a loss. There are no partial payouts.
4. Handling “No Action” Grades
If any selection within your parlay is graded as “No Action,” indicating that the bet has been canceled or voided, the parlay will be reduced to the next lower number of teams. This ensures that the parlay remains valid and reflects the adjusted payout based on the remaining selections.
5. Excluded Lines:
Certain types of lines are not eligible to be included in parlays. Some of these include triangled lines, quarter lines (1Q, 2Q, 3Q, and 4Q), and fifth inning lines (5inn.),
6. Exclusion of Same Game Props
Same game props are specific bets related to individual players or occurrences within a single game. These same game props cannot be included in parlays.
7. Combining Lines from the Same Game
You cannot combine point spreads and/or money lines for the same team from the same game. This remains true even if the lines are from different segments of the game.
8. 1H and Full Game Line Segments
Combining 1H (first half) and full game lines of the same line segment for the same event is not allowed due to correlation. However, you can combine point spreads and/or money lines for the full game with 1H totals of the same event and vice versa.
How Do Parlays Work On Bovada?
Parlay betting on Bovada works by selecting two or more individual bets and combining them into one wager. After choosing your selections, you will see the option to create a bet on your slip.
Once confirmed, all selected bets must win for the parlay to be successful. Bovada offers a variety of sports and betting options for creating these plays.
As a result, it is possible for users to customize their selections based on their preferences and expertise. If all selections win, the payout is based on the combined odds of the individual bets. This offers the potential for higher winnings compared to single bets.
Different Types of Parlays
Parlays are an interesting form of betting due to the availability of various options for players to explore. This provides flexibility in betting that boosts the overall gambling experience. The various types of parlays available on Bovada are explained as follows:
- Teasers
Teasers represent a unique form of parlay bet allowing adjustments to spreads or totals. This enhances the likelihood of a winning wager. Teasers involve modifying the spread or total. As a result, they offer a comparatively higher probability of success than traditional parlays. However, this increased probability comes at the expense of diminished odds. This results in lower potential payouts.
For instance, consider a scenario where the New York Giants are +10-point underdogs against the Dallas Cowboys, who are -3 favorites. Employing a teaser could shift the Giants’ spread to +16 and the Cowboys’ spread to +3. This boosts your chances of winning while concurrently reducing the odds.
It is essential to note that teasers aren’t universally available across all sports. Altering the spread in hockey, baseball, or soccer typically has a more significant impact than doing so in football or basketball matchups.
- Round Robins
Round robin parlays empower bettors to create multiple parlay bets spanning various games. After all, this offers flexibility in betting strategies. Players can craft a multitude of bets, which encompasses parlays of varying sizes involving a pre-selected group of games. Each parlay within the round robin necessitates an individual wager.
For example, consider an NFL Sunday with four games a bettor desires to parlay together. Constructing a four-team round-robin parlay from these games entails generating a range of two-team, three-team, and four-team wagers.
Each winning combination matching the parlays made will yield a payout. Every wager will require individual placement. A four-team round-robin presents 11 distinct potential combinations to bet on.
- Same-Game Parlay:
A same-game is also known as single-game parlay. This kind of parlay betting amalgamates correlated wagers for a single event to potentially earn enhanced payouts. The concept of correlated wagers depends on the idea that the outcome of one bet can influence the likelihood of another leg succeeding.
For instance, consider the correlation between spreads and totals in a football game. Michigan may be a 28-point favorite against Appalachian State with a game total of 51. For this, a successful cover by the Wolverines could likely result in the game total surpassing 51 points.
This strategy can extend to player prop bets as well. For instance, players may bet on the over in a Buccaneers vs. Chiefs game. Then, there is a strong likelihood that the starting quarterbacks will surpass their passing totals.
How To Place a Parlay
Parlays are easy to access on mobile and PC devices. Bovada sportsbook makes this form of betting quite easy for players of all experience levels. The following steps can help you understand better how to place a parlay:
- Once you have a registered betting account with Bovada, you can easily access the sportsbook. Then, simply log in and navigate to the “Sports” section.
- From the left navigation panel, you may choose the sport you are interested in betting on.
- The page will display open events or those with available lines for betting, including game lines or live betting options, by default.
- Select your preferred lines by clicking the corresponding boxes. There is a maximum limit of 12 selections. Your chosen lines will be automatically added to the Bet Slip located on the right-hand side of the page. You can include various bet types such as point spreads, moneylines, totals, props, and futures in the same parlay. However, you should keep in mind any restrictions regarding parlaying lines from the same event or “singles only” lines.
- Your selections will appear in the Bet Slip. You may choose “Parlay” and adjust any “point buys” if necessary.
- Enter your desired risk amount in the provided box. The total potential win amount will be calculated automatically once you input the risk amount.
- You may wish to remove a line from the Bet Slip. To do so, simply click the ‘X’ icon next to the selection.
- Click on ‘Review Bets’ to proceed.
- Review the details of your parlay bet. If you’re satisfied, click ‘Place Bets’ to confirm. If you need to make any changes, click ‘Edit’ to adjust the wager details.
- Once your parlay bet is successfully placed, a confirmation window will appear. It will display the final bet details along with a unique wager reference number.
Pros to Parlays
Parlay betting can be an attractive option for bettors who are looking to maximize their potential winnings and add excitement to their sports betting experience. Some advantages that make them appealing to bettors are introduced as follows:
1. Increased Payouts: Parlays provide the opportunity for significantly higher payouts compared to individual bets. By combining multiple selections into one wager, the odds are multiplied. With this, players can potentially enjoy a larger payout if all selections wins.
2. Risk Management: The potential for higher payouts in parlay betting does not prevent bettors from managing their risk. Since all selections must win for the parlay to be successful, bettors can adjust their risk level by selecting fewer or more conservative bets.
3. Excitement and Entertainment: These bets add an extra layer of excitement and entertainment to sports betting. Watching multiple games simultaneously and rooting for all selections to win can enhance the overall betting experience.
4. Flexibility: Parlays offer flexibility in terms of the types of bets that can be combined. Bettors can mix and match different bet types, such as point spreads, money lines, totals, props, and futures. Doing so allows bettors to create customized parlays according to their preferences and strategies.
5. Efficiency: They allow players to bet on multiple games or events with just one wager. This ensures that they can save time and effort compared to placing individual bets on each selection separately.
Cons to Parlays
Okay, I need to point out some cons because even though you can win a lot of money quickly you can also lose faster as well. It is important to be aware of the higher risk and potential drawbacks associated with this type of wagering. Some of these disadvantages are explained below:
1. Higher Risk: Parlays carry a higher risk compared to individual bets because all selections within the parlay must win for the bet to be successful. Even if one selection loses, the entire parlay is lost. This results in a total loss of the wagered amount.
2. Lower Probability of Winning: Due to the requirement for multiple selections to win, the probability of winning a parlay decreases with each additional selection. This means that parlays are generally less likely to win compared to individual bets. This makes them riskier investments.
3. Reduced Payouts for Teasers: Teasers allow bettors to adjust spreads or totals for a higher chance of winning. However, the odds and potential payouts are reduced accordingly. This means that even if the parlay wins, the payout may be smaller than if the same selections were bet individually.
4. Limited Betting Options: These bets may have restrictions on the types of bets that can be included. This may include limits on combining lines from the same event or restrictions on certain bet types. This can limit the flexibility and customization options for bettors.
Final Thoughts
I hope you enjoyed this update on parlay betting with Bovada. Using them can be an opportunity for bettors to maximize their winnings. It also enhances players’ sports betting experience. However, players should adhere to parlay rules to ensure a fair and enjoyable betting environment.
This site makes it easy to play all types of bets with its user-friendly interface and extensive selection of sports and betting options.
Bovada is one of the top betting sites. It stands out for its reliability, security, and exceptional customer service. As a result, it is an ideal platform for parlay betting. Understanding the pros and cons of parlay betting is essential for players to make informed decisions and manage their risk effectively.
While parlays offer the potential for higher payouts and increased excitement, they also come with higher risks and lower probabilities of winning.
For this reason, players should approach parlay betting with caution and consider their betting strategy carefully. Players should utilize Bovada’s platform to maximize their chances of success while enjoying the thrill of sports betting.
