Online Sportsbooks for Football Betting have more exposure every week of the football season because they have a game or two on Saturday or Sunday (potential loss).
Parlays and teaser wagers are often the next in line in terms of exposure. The quantity of money is not comparable, but if the football bettor gets it right, it might result in some lengthy faces at the book.
The allure of placing a tiny or relatively low stake in exchange for a high, or in certain situations, gigantic reward is alluring to many gamblers. That is why lottery tickets are so popular, because winning “the big one” can change your life.
When it comes to sports betting, one would have to bet a lot of money to win a million or more dollars, whereas a lottery ticket is a random outcome compared to assembling a 10 to 15 play parlay or teaser card, in which you, the individual, made all the picks, which also gives you a story you can tell forever.
While online sportsbooks, such as OKBET Sports Betting dislike losing, the wise ones understand that it is excellent for business. They’d publicize and publicize a bettor who cashed a 14-team parlay in college and pro football and turned $200 into $180,000!
Here’s why they’d do something like this.
Parlays and Teasers are quite profitable
A UNLV Center for Gaming Research study that spanned 27 years and concluded in 2019 discovered that the average hold or take on normal sports bets (team vs. team) was 5%. In other words, the book kept five cents for every dollar wagered.
For parlays, that increases to 30% hold, with teasers in the low 20s. That represents a four to sixfold increase in profit. What would you advertise if you could earn $20 to $30 for every $100 bet instead of $5?
The Pitfall of Parlays and Teasers
It is usually assumed that the best bettors will hit 60% of the time throughout a college or NFL football season. Without a doubt, certain outliers will nail it more than that, occasionally at 70%, but those may be counted on one hand among millions.
If hitting 60% is such a difficult task, why do some people believe they can hit four to fifteen games on a single card? The odds are set against anyone winning such a gamble.
Assume you put $250 on a 10-team parlay or teaser and hit eight of ten, losing by a single point on both occasions. Being that close to such a large payday must be excruciating.
Consider taking that same $250 and placing ten $25 bets and hitting eight of ten. Instead of losing $250, you walk away with $145, a $395 difference with the same number of winners on each card. The high payouts are exciting, but how much money was invested over time to win that one time?
“However, I enjoy the action and find it enjoyable.”
We have demonstrated both the positive and negative elements of betting parlays and teasers. However, if you have stocks or want to invest in a potentially dangerous enterprise, you will, and it is not our business to tell you what to do with your money.
Instead, we recommend placing wiser wagers that will give you a better chance of winning your football choices.
Parlays should be limited to two teams. If you bet $100 and win, you will receive a return of $260. If you do more than one, we recommend keeping the total to three.
That way, if you’re successful on two of three, you’ll make $220, and if you’re wrong on one, you’ll lose $40, which sounds reasonable given the amount wagered.
Some may be enticed to enter a 3-teamer since the payoff is 6-1, but there is a reason for that: it is much more difficult to win.
When it comes to football, teasers typically have selections ranging from six to seven points. If you want to be more careful, do a two-team teaser (6 points), as most books allow you to bet $11 to win $20. (12/20 for some)
If you’re feeling more daring, a three-teamer isn’t a bad bet on six-points (moving through important numbers), as $10 can return $26.
We would not advocate a 7-point teaser because it consumes over 15% of possible winnings when six points should cover almost every significant football number if you make the appropriate bets.
As always, play intelligently and have fun to optimize your chances of winning.