How to bet - Parlays part two

In a previous article we looked at the basic concept of how to bet using parlays. The scope of this article is to introduce you to a slightly more advanced concept. Now we want to show you how to use parlay betting. Which in essence is permutations based betting systems.

When you break down permutation betting to the bare bones, it is essentially combo style parlay betting. Keep in mind there are various styles of permutation based betting variants that bettors can use. We discuss every one of these variants in separate articles.

Parlay betting example

We will use an average NFL Sunday to illustrate how to use permutations in parlay betting. On any given Sunday there are 12-14 games. In other words; there are plenty of opportunities to make money if you know how to bet. Now, whether you are an investor (professional punter) or an entertainment type bettor permutation systems can work well for you.

You have completed your handicapping and have come to the conclusion that you like eight games. The question you know have to ask yourself is: What is the best way to assure maximum profit? Your options are plenty, you can bet all of them as single bets, you could parlay all eight of them, but then they’d all need to be winners in order for you to take home the bacon. We left the permutation option for last. You could box bet/combine selected groups.

Here is the hypothetical list of teams you believe will win:

1- Saints -110
2- Dolphins -110
3- Bills -110
4- Jets -110
5- Giants -110
6- Eagles -110
7- Broncos -110
8- Raiders -110

You want to capitalize your profits. So you decide the best way to do so is to create a basic permutation utilizing your 8 games in 2 game combinations. What you will have here is 28 different bets with every possible 2 way combination. (2 game parlays will typically return +260 on two -110 game odds).

Now, let’s say you are super confident and you think that you're likely to hit 6 of the 8 selections. You may want to bump up your system to a three games or even four games permutation utilizing all eight of your selected bets. For the three games you would have to place 56 wagers. If you go for four games, then it is necessary to place 70 wagers. Six game parlays covering all 8 games would require twenty-eight wagers.

Here is what the combo line would look like:

1  2  3  4  5  6
1  2  3  4  5  7
1  2  3  4  5  8
1  2  3  4  6  7
1  2  3  4  6  8
1  2  3  4  7  8
1  2  3  5  6  7
1  2  3  5  6  8
1  2  3  5  7  8
1  2  3  6  7  8
1  2  4  5  6  7
1  2  4  5  6  8
1  2  4  5  7  8
1  2  4  6  7  8
1  2  5  6  7  8
1  3  4  5  6  7
1  3  4  5  6  8
1  3  4  5  7  8
1  3  4  6  7  8
1  3  5  6  7  8
1  4  5  6  7  8
2  3  4  5  6  7
2  3  4  5  6  8
2  3  4  5  7  8
2  3  4  6  7  8
2  3  5  6  7  8
2  4  5  6  7  8
3  4  5  6  7  8

If we use the six games permutation as described above, and invest $10 per game we’d be wagering a total of $280. If you are correct and hit six out of eight games, your payout on one ticket would be $474.13. You have to agree it looks like a pretty good investment.

If you were to bet on all 8 games individually and hit eight out of eight a $10 bet would return $1754.46. Keep in mind these are base bet odds of -110. If you involve underdogs to the equation you are looking at making even more money. Just to drill this into your brain; here is a quick example once a: If you select 8 games that all paid +150 your 8 game parlay would pay $15248.79 if all eight hit. At the same time, six games out of eight would return $2431.41.

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