Online sportsbooks are starting to get creative and unique when it comes to creating wagers that bettors cannot resist. A lot of these wagers include parlay betting Arizona options. But is it really worth it wagering on a multi-bets?
Parlay betting options in Arizona
Parlay betting Arizona is a great way to win a lot of money for a small stake. However, it is also much riskier than a one bet wager. In this article, we are going to break down what a parlay bet is, how to play them, and which sportsbooks are best for parlay betting.
If you are ready to start wagering on parlay bets, don’t do anything until you have read all the way through this article.
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Arizona parlay betting explained
A parlay bet is a multi-bet form of wagering on sports. You are placing a single wager on multiple bets. These bets are a great way to win a lot of money if all of your wagers win. However, if one bet loses, you lose everything.
The multiple bets in a parlay are called legs. The more legs you have in your parlay, the more money you are set to win, but the chances are much harder.
If you are wagering on a parlay bet and one team ties, then the bet will payout the rest of the bets, like that one wasn’t part of the bundle. So, for example, you wager on a 4-legged parlay, three teams win, but one tie, which means your winning will represent a 3-legged parlay.
You can place multi-leg parlay bets in the same sports, for example, wagering on multiple NFL games throughout the season. Or you can bet on numerous sports at the same time.
Most people will choose bets on multiple sporting events that take place around the same time, so they are not waiting too long for the results. If you wager on multiple games played by the same team, you will not see any payouts until the last wager is won.
Calculating parlay betting Arizona payouts
The best way to calculate your parlay payout (besides web-searching a parlay calculator) is to convert your American betting odds into decimals, multiplying the odds and the wager to get your total possible wins, then subtracting the wager for your profit.
For example, You have a 3-legged parlay 1.2,1.3, and 1.4, and you want to wager 100 dollars down on the bet.
Just follow the formula to figure out how much you stand to win if none of your bets lose.
1.2 x 1.3x 1.4 x100= $218.40 is the payout you will receive if your parlay is successful. You can then remove the stakes ($100), leaving you with a $118.00 profit.
Top sportsbooks for parlay betting Arizona
Anyone interested in wagering on sports must have a great sportsbook that is reputable, reliable, and easy to use. You should watch for those with fair odds, frequent promotions, and plenty of betting options.
Here are some of the best Arizona sportsbooks we have found for parlay betting and all your other online betting needs.
Barstool Sportsbook parlay betting
The Barstool sportsbook brand is one of the best sportsbook sites available. They have extensive knowledge of sports and sports betting and provides sports betting tool, updated stats, and a massive sports market.
Caesars sportsbook parlay betting
The Caesars sports betting site is a great place to go to wager on parlays, live bets, and future bets with great odds. In addition, they provide frequent promotions and bonuses as well as a fantastic loyalty program.
BetMGM parlay betting
BetMGM is a tried and trusted online sportsbook. They have amazing customer service and an easy-to-navigate website and mobile app. In addition, BetMGM offers a great sports market and bets that update daily.
Draftkings parlay betting
Draftkings is a well-known and reputable sportsbook site. The platform is well-designed and easy to use. The customer service is fantastic, and they offer an array of banking options to make deposits and withdrawals seamless.
Fanduel parlay bets
Fanduel sportsbook is well-known for its user-friendly interface, which is well-designed with tons of great features. In addition, this company provides its bettors and a large variety of bonuses and promotions frequently, with unique bets offered often.
WynnBET sportsbook provides bettors with a vast market of sports and wager to bet on each and every day. The site is well-designed and easy on the eyes. This company is known for its fair odds and frequent deals.
Unibet parlay betting
The Unibet sports betting site gives players a unique and fun wagering experience with hundreds of bets going on throughout the day. In addition, they offer an amazing lineup of Moneyline bets as well as frequent parlay options.
Pros and cons of parlay betting – Arizona
A lot of new players will head right towards parlay bets when they first jump on a sports betting site. The fixed odds and high payouts seem like a quick money-maker for many. That can be true for anyone that knows what they are doing or on easier bets. However, they can also be tricky, and you can lose a lot of money fast as well.
Pros of Parlay betting in AZ
Are you looking for a good reason to wager parlays on your preferred Arizona sports betting sites? Here is a list of pros for parlay betting.
- Higher payouts
- Lower stakes
- Allows players to wager on a bet that wouldn’t be worth much alone
- It gives bettors the opportunity to combine multiple sports and games
- Tons of excitement
Cons of Parlay betting in Arizona
Parlay bets can be hard to win and are a lot more complicated than single wager bets. Here is a list of cons related to parlay betting.
- Higher risk
- The odds are always in favor of the bookie
- Higher consistent loses
- Some sports are not included.
There is no right or wrong, good or bad, when it comes to parlay betting. However, you have to have good knowledge of the sport and a great understanding of how to calculate odds to make the best decisions on which parlays are profitable.
Tips for parlay betting in Arizona
Parlay betting is not rocket science once you have an idea of what you are doing. However, we have some great tips and tricks to make it a little easier and help you get started.
Stagger the starts of games
Never place bets on games that are all taking place at the exact same time. If that is all one sportsbook is offering, then it would be beneficial to look elsewhere. Betting staggering your bets gives you the opportunity to hedge your bet and cut your losses before it gets too late.
Keep bets small
Many players are tempted to go big or go home on parlay bets. However, it is a much better idea to start small and get a grasp on this form of wagering before trying to become a millionaire. This is especially true for new bettors who are trying to get their feet wet in the sports betting world.
Bet parlay Moneylines
Moneylines are the best way to wager on parlay bets. Take advantage of the underdogs in parlay betting; this will provide you with high odds that will multiply the more wagers you bet.
Moneylines are also beneficial to those wagering on favorites in some cases, specifically when the odds are lower, but the favorites are sure. Although the payout is small for one single bet, Betting can add to increase the payout of a parlay.
Wager with your head, not your gut
Players like to go with their guts when it comes to deciding their chances on a bet. This is not something you want to do in any wager, let alone a parlay. Very few bets are actually won, thanks to luck and instinct. 99% of the time, winning bets require knowledge of the sports and the betting style
Parlay betting Arizona FAQ
Parlay betting is a multi-wager bet that can involve one to 12-15 bets (called legs). You have to win all of the bets in a parlay to win anything. If only one leg loses, you lose the whole wager.
Parlay bets can be profitable if you are able to play and win the bigger wagers. However, because they are so hard to win, even bigger payouts are oftentimes covering losses.
Yes. Any current resident living in the state of Arizona can legally wager on sports betting sites. However, you must provide proof of both in order to place a bet.
Moneyline bets are great options for parlay betting. Whether you like betting favorites or are a fan of the underdog, there is room for profit on either side.
You can easily find legal sports betting sites licensed to practice in Arizona by doing a quick web search or by looking at our list of suggestions at the top of this article.