Choosing between parlays and single bets in sports betting depends on your goals, risk tolerance, and bankroll management. Either option is a completely valid way to make picks for a payout. But each one has its upsides and downsides. Here’s a breakdown of each strategy to help you decide.
Head-to-Head: Parlays vs. Single Bets
| Aspect | Single Bets | Parlays |
| Risk Level | Low – only one outcome needs to win. | High – all selected outcomes must win. |
| Payout Potential | Lower – smaller, consistent returns. | Higher – exponential payouts with increased legs. |
| Predictability | Easier to analyze and predict. | Harder to predict due to multiple variables. |
| Win Requirement | Only one bet needs to succeed. | Every bet (leg) must succeed. |
| Complexity | Simple – focuses on one event. | Complex – involves multiple events or outcomes. |
| Ideal For | Beginners or risk-averse bettors. | Experienced or high-risk bettors. |
| Bankroll Impact | Slower, more sustainable bankroll growth. | Rapid changes, with potential for quick losses. |
| Entertainment Value | Moderate – one game/event to follow. | High – multiple games/events to track. |
| Learning Opportunity | Great for learning strategies and improving skills. | Less educational; more focus on luck and variance. |
| Common Usage | For steady, long-term profits. | For thrill-seekers chasing big wins. |
Single Bets
A single bet involves wagering on one specific outcome in a game or event. There are several positives and a few negatives to consider when placing single bets.
- Lower Risk: You only need one bet to win.
- Higher Predictability: Easier to analyze and predict a single outcome.
- Consistent Returns: Though smaller, winnings are more consistent.
- Ideal for Beginners: Great for learning and refining betting strategies.
- Lower Payouts: Since you’re betting on a single event, the odds typically result in smaller payouts compared to parlays.
- More Time-Intensive: To achieve higher profits, you might need to place multiple single bets.
Parlays
A parlay combines multiple bets into one wager, requiring all bets (legs) to win for a payout. Parlay sizes can range from two legs to a dozen or more, and can include points spread, moneyline, totals, and prop bets. The more legs you add to a parlay, the higher the win potential but the lower the chances of winning. Here are the positives and negatives of parlay building at your chosen social sportsbook.
- Higher Payouts: Combining multiple bets increases potential winnings exponentially.
- Excitement: Following multiple games or outcomes can make watching sports more thrilling.
- Low Stake, Big Win: Small bets can result in significant returns.
- Higher Risk: All outcomes must be correct to win; one loss means the entire bet loses.
- Less Predictable: More variables increase the likelihood of failure.
- Harder to Sustain: Frequent losses can erode your bankroll quickly.
Which Strategy is Right for You?
- Risk Tolerance: If you prefer lower risk, single bets are better. Parlays are for thrill-seekers willing to risk more for higher rewards.
- Experience Level: Beginners should focus on single bets to build knowledge and strategy.
- Bankroll Management: Single bets suit conservative bankroll strategies, while parlays can lead to rapid losses if not managed well.
- Goal: If you aim for steady returns, stick to single bets. If you’re chasing big wins and can handle losing streaks, parlays might suit you.
Final Thought: Consider a Balanced Approach
You don’t have to choose one exclusively. Many bettors allocate a portion of their bankroll to parlays for the thrill and the rest to single bets for steadier returns. Finding the right mix can help you enjoy the excitement of betting while minimizing unnecessary risks. Either way, it’s essential to know basic sports betting responsible gambling to keep yourself safe.
Read More: Best Sports Betting Strategy