NFL 3 Team Parlays
In 2021, the NFL set a sponsorship record by penciling in over $1.8 billion in this revenue category, with most of this cash influx coming from partnerships with gambling companies. BetMGM, FanDuel, DraftKings, Caesars Entertainment, and PointsBet are only a few names that have joined forces with America’s top football league. And in February 2022, the NFL reached its initial sportsbook deal in Canada, as the province of Ontario decided to become the first territory in the Great White North to roll out sports wagering for its residents.
Aside from laxer gambling laws, another reason for the dramatic rise of this pastime is the wealth of options that the best NFL betting sites you can sign up for offer. One of the top ones is setting parlay wagers, a bet that holds a special place in the lore of this pastime, featured in movies such as Uncut Gems and Silver Lining Playbook.
A parlay is the US term for what gamblers in Europe call accumulators or multis. As these names suggest, they represent multiple bets on the same slip, acting as one. Winnings from each one roll over to the next leg, and each must win for the wager to payout.
Below are some basics from a short guide to NFL parlay betting, followed by essential info for anyone considering utilizing this bet type at platforms with glowing assessments from top NFL sportsbook review hubs.
How NFL Parlay Betting Works
An interesting bit of trivia is to mention that the word parlay has a French origin, and despite jokes in sports betting circles, it does not mean loser. It is an Americanism of the French paroli, which derives from the Neapolitan Italian parole, meaning equal pairs.
Parlays require gamblers to bet on two or more events on the same slip, acting as one wager. For example, if one were to bet $100 on three games with odds of +150, +100, and +203, and it turns out that that gambler accurately guessed these, the payout would be $1,515 on the $100 staked.
Parlays are risky because if any section loses, the entire parlay goes down the drain. They can also get super complicated, consisting of many individual wagers covering various game spreads.
It should also get noted that not all online gambling sites provide the same parlay options. Some are more conservative than others regarding the robustness of the wagering functions they deliver. Everyone must research when choosing a website to bet on the NFL.
How Much Does a 3-Team Parlay Pay?
No fixed payout table shows how a 3-team parlay can pay because the potential looming prize gets calculated using the odds of each event comprising the parlay. As a rule of thumb, some Las Vegas sportsbooks have 6/1 odds on 3-team parlays, and the same goes for a few well-known international ones, which only applies with parlays with spreads and totals at standard -110 odds. For others, gamblers should use an odds calculator to see their potential earnings.
Taking advantage of NFL betting websites and putting down $100 on three favorites at -200, -300, and -400 odds will generate a win of only $150. While wagering $100 on three underdogs at +200, +300, and +400 odds, will produce a reward of $5,900.
On evenly expected outcomes, the average payout, aggregated from several brand sportsbooks, is $597 on $100 staked, and the fair one is $800.
Strategy for 3 Team Parlays
Though most profitable bettors advise that newbie gamblers stay away from parlays, their alluring payouts are irresistible for many. So, the primary recommendation is to stick to 2-team or 3-team parlays. That is so because the operator advantage is lower on these compared to others.
Also, before laying down any money on a parlay, gamblers must understand the odds in play are below the true odds for each event, which is crucial to grasping the payout structure involved. The operator can average a profit above 20% on spread parlays compared to the usual 4.5% on individual mix parlay wagers. So keeping things simple is best.
The best move for utilizing parlays is first knowing where to bet on NFL games online. That refers to picking sites that give away enticing bonuses that let users do some free betting. Parlays should also get coupled with buying points, particularly half-points in NFL games. Many believe that this is the best NFL parlay strategy. Explaining it is outside the scope of this article, so turning to Google for a detailed elaboration regarding it is necessary.
NFL Parlay Picks
A few NFL pro bettors readers can turn to for the best parlay tips on Twitter include Adam Schefter, Peter King, Bill Simmons, Todd Fuhrman, Scott Kellen, Brian Burke, and David Payne Purdum.