What are parlay bets and how to place them

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The original version of the article was published by Cloudbet and is part is part of the Cloudbet Blog’s series on big-picture blockchain stories. For more in-depth discussions on all things crypto, tune into our In the Cloud section and follow Cloudbet on Twitter.

Read our guide on parlay betting to find out how you can increase your chances of winning big when betting on sports.

Having recently launched our industry leading minimum stakes, we wanted to teach you how to maximise your chances of winning big with us at Cloudbet, using sporting accumulators.

What is a parlay bet?

You may know other betting terms for an accumulator such as multibets, multiples, parlays or combi bets, but they are defined exactly the same and simply allow customers to combine single bets into one merged bet to rapidly increase the odds. You can place up to 8 selections in one accumulator on Cloudbet, combining a multitude of sports that may also take place on different days.

What are the advantages of placing parlay bets?

Parlay bets are a great way to turn your low stakes into big wins as the more selections you add to your bet slip, the higher the return on your investment is. By selecting between 2 and 8 bets, you will incrementally increase your overall odds on the accumulator; the more selections you pick or the higher odds that you choose, the bigger the return. It’s that simple!

How does it work?

Accumulator odds are calculated by multiplying the odds together. For example, if you bet on 8 selections at evens (2.0) then the total return would be 256 x your stake, which beneath the repetitive multiplication is 256/1. A 0.01 BTC bet in this instance would return a handy 2.56 BTC.

Of course the more selections you choose or the higher odds you pick, the chances of you winning are slimmer, but with minimum stakes as low as 10 Satoshis, why not try and hit the jackpot every now and then?

We will use the recent Champions League fixtures between 5th-13th March 2019 as an example.

The results of the 8 matches are listed below, with a couple of upset away wins for Manchester United against PSG & Ajax against Real Madrid standing out.

  • Barcelona 5:1 Lyon
  • Bayern Munich 1:3 Liverpool
  • Juventus 3:0 Atl Madrid
  • Man City 7:0 Schalke
  • Porto 3:1 AS Roma
  • PSG 1:3 Man United
  • Dortmund 0:1 Tottenham
  • Real Madrid 1:4 Ajax

If you were to place a parlay bet that predicted all 8 results, then your return would have been 1965/1 which is a huge 1965x return on your stake!

So from just 0.1 mbtc (0.0001 BTC) on those selections you would have received a staggering 195 mbtc (0.195 BTC)!

How to place a parlay bet on Cloudbet

Placing a parlay bet with Cloudbet couldn’t be simpler as all of your selections are safely stored in your bet slip. Just click on the outcomes you would like and watch them populate, with the functionality to add and remove selections whenever you please.

Making your parlay bet selection

Once you have chosen your selections, a box will appear at the bottom of your betslip that will show you your multiple options. To maximise the potential winnings, you want to place one bet that includes all of the selections. This is referred to as ‘folds’, so if you had 8 selections in your bet slip and you wanted to make one bet, you would input your stake and click on the 8 folds option like below. Please note that Cloudbet offers a maximum of 8 selections for all accumulators.

Combining your selections into 1 parlay bet

Combining your selections into 1 parlay bet

Once your bet is confirmed, you can then see your potential winnings pop up below. In this 8 fold example, you could win a fantastic 0.4271788 BTC from just a 0.0001 BTC stake!

Check out your expected win from a 0.0001 BTC stake!

Check out your expected win from a 0.0001 BTC stake!

On the move?

Don’t worry, it’s just as easy to build a parlay bet on your mobile and tablet devices! Just follow the same instructions and watch as your accumulator and potential winnings grow right in front of your eyes!

Making your selections on mobile

Making your selections on mobile

Placing your parlay bet

Placing your parlay bet

Big Parlay Bet Winners at Cloudbet

We’ve had a number of unbelievable accumulator wins and we love to see those small stake gambles pay off in superb style.

11.932 BTC win!

In January 2017 one of our Filipino players managed to secure an incredible NBA 7 fold that had all of the odds greater than evens! He placed a 0.005 BTC bet on 7 NBA underdogs which managed to return an incredible 11.932 BTC! If you calculate the odds, the bet stood as a 2387/1 shot, not something you see everyday!

320/1 shot!

In December of 2018, one of our European players had a fantastic NHL 4 fold bet that generated a huge return on his stake. For just 0.01 BCH, the customer made 3.228 BCH, betting on Under/Over total goals, with odds ranging from 2.78 all the way up to 5.53. It’s not always about the amount of selections you have, but the odds for each selection. This was a x320 return on his small stake!

7 fold winner!

Our VIPs also like to place accumulators to try and pick up a huge headline sum, none more so than one of our most valued players who’s been with us since 2016. The player combined UFC and NBA selections in a 7 fold bet that included a 2.65 odds selection of Niko Price against Tim Means. His 0.05 BTC stake returned a very handy 2.1455 BTC!

 

2019-05-03T19:40:34+00:00

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