Parlay betting is a strategy that allows bettors to combine bets in order to increase their chances of winning. When parlay betting is done correctly, it can be a very profitable venture on Bovada.
Parlays are created when bettors put money on two or more different sports events with the hope of winning back all of their bets in a single wager. When this wager is placed, the sports books will calculate the payout based on the odds for each event.
For example, if a bettor placed a $100 wager on the Philadelphia Eagles and Dallas Cowboys game, and the Eagles were given odds of -110 to win and the Cowboys were given odds of +105 to win, Bovada would pay out $110 for the Eagles win and $105 for the Cowboys win.
The beauty of parlay betting is that it allows bettors to get paid even if their team loses one or more games in a row. For example, if a bettor placed a $100 wager on the Philadelphia Eagles and Dallas Cowboys game, and the Eagles lost both games they played in that week, Bovada would still pay out the $100 wagered on both games because they are considered separate wagers.
This is why it is important for bettors to read all of the details about each individual bet before placing them so they are fully aware of what they are getting themselves into.
A big disadvantage to parlay betting is that it can be very risky. If any one of the individual bets goes wrong, then the entire parlay may go bust and the bettor will lose everything they put down.
This is why it is important for bettors to use caution when parlaying and never risk more than they are willing to lose.
Overall, parlay betting can be an extremely profitable way to gamble on sports events at Bovada. It is important for bettors to be careful not to overspend though, as even small losses can add up quickly when parlay betting is involved.
