In Part I of Major League Betting, we discussed many of the basic principles related to betting and considered the simple bets you can make. We learned to read the game lines and looked at some examples of typical and popular betting opportunities.
We now know how to use this information to bet smart on Major League Baseball (MLB). Now we’ll take a look at more complicated types of bets, including MLB futures, parlays, multiples, round robins, and teasers.
MLB futures are named appropriately. You are betting on something that is far enough into the future. A typical future bet would be to bet money in May on which team will win the American League pennant or which two clubs will play in the World Series. Future bets are based on a result and not a single game, and that result will not normally be decided tomorrow or the next day. You can bet on the future that the Yankees will win the AL East when they have three games and four to go in the regular season, but that bet won’t pay off big. The point is that with futures you can generally get much higher odds before the start or at the beginning of the season when the outcome is difficult to determine. When the outcome begins to be clear or fairly certain, the odds begin to level out.
Parlays are multiple bets made with a single bet. You have to win all of them, or most of them in some special cases, in order to collect them. Single parlays are defined as multiple bets within the same sport. A single multiple or single parlay is defined as one where, to win the bet, all selected bets within the combination bet parlay must win.
Some people define individual parlays and “multiples” differently, so don’t assume that all bookmakers will use the same terminology to refer to parlays. Research the site’s betting rules and policies before betting. By combining bets in a parlay, you can increase your possible winnings, but keep in mind that they are not easy to come by. Many sports betting sites have limitations on what can be combined and how to combine them.
For example, some sites do not allow compensation for “related” bets. If you bet the Cubs win completely in a game and you also bet that they will win 2-0 (exact score), you may be able to fold just one of these, because they are related. If the Cubs win 2-0 it also means they win. If you have a parlay formed in this way, it is possible that not only will it pay in one of the two, but the bet can be declassified from parlay to direct bet, further reducing winnings. Single sport parlays generally give two to two and a half to one on a single double sport parlay; two bets within the same sport, but not related. A single sport triple parlay, consisting of three parlayed bets in one bet, generally pays around six to one.
Multiple parlays, also known as all raises and accumulators, are classified as multiple or multiple bet options. This simply means that the parlay classified as multiple always combines options from two or more different sports. By selecting two or more single bets from two or more different sports and then combining them, you create a multiple bet. The beauty of this type of bet is that you can get high odds of your possible return. Keep in mind that the odds are high for a reason. The results are not easy to predict.
A round robin, or boxed multiple, is another way of betting on multiple events or multiple outcomes of the same event at the same time. With this type of one ticket bet, you “box” different contests or results. So you are betting that at least some of your chosen combinations will beat the odds.
In some cases, you can “pigeonhole” all possible combinations. If at least two of your multiple combinations win, you win. With a canned multiple, you have to think of the most likely combinations that could produce at least two, preferably more, correct results.