Betting on horse racing is exceptionally popular throughout the year, but it is especially the case when it comes to wagering on the Triple Crown races and the Breeders’ Cup. Bettors are often trying to find ways to maximise their returns on their selections when betting on the sport, and that has led to a growing number of fans that are placing parlays.
Parlay betting is most popular with other sports, such as basketball, American Football, and hockey, but there is certainly extraordinary value that comes with making the same multi bet on horse racing.
Also known as an accumulator or combo bet, is a type of wager where you combine multiple individual bets into a single bet. In a parlay, you select two or more outcomes from different events or games, and all of your selections must be correct in order to win the bet.
The potential payout for a parlay bet is higher than for individual bets because the odds of each selection are multiplied together.
What Is A Parlay?
Before going through how parlay betting in horse racing works, it’s first important to understand what the type of bet is. A parlay is made up of two or more selections across a number of different events.
However, in order to gain returns on a parlay, all selections in the wager must be correct.
If just one selection lets you down, then the stake is lost, regardless of whether each of the other results are correct. You can check the current Belmont Stakes handicappers picks, for the race that is happening on June 10th in New York.
How To Place A Parlay Horse Racing Bet
Parlay betting in horse racing is extremely popular, as it is an excellent way to cover many of your top selections in one bet. Bettors are able to select one horse from a single race and combine two or more selections into a longer form bet.
This means that you can add a selection from each of the Breeders’ Cup Sprint, Breeders’ Cup Classic, and the Breeders’ Cup Turf into one longer bet. The odds will be boosted based on the prices of the selections that you have added to the bet, and you could stand to win huge returns if all selections are correct.
Do Selections Have To Win?
Parlay bets when it comes to horse racing can come in a number of different forms. For example, you can place a parlay of win only selections, meaning that all horses in the bet must win the races that they are involved in. However, many sportsbooks also allow you to mix and match the markets that you are wagering on.
For example, you can add one horse from a race at Churchill Downs to win, before picking selections from Santa Anita and Del Mar to place and show, respectively. Of course, the returns from a win-only parlay will be considerably higher, but adding selections at a higher price to place could stand a better chance of gaining returns from the bet.
It’s impossible to overlook the advantages that come with making parlay bets, as they can be incredibly lucrative if you are able to get a winner. However, there are also disadvantages that newcomers to betting should understand. The biggest of those is the fact that the bet will be settled as a loser if just one leg of their wager lets them down.
That means that it could pay to place bets as singles if the odds are as valuable as you like. Meanwhile, parlay bets require a huge deal of research before making, as you will need to weigh up every selection in the race to ensure that you aren’t left vulnerable from late speed from another selections. Parlays are most used to enhance the entertainment of viewers, and the market shouldn’t be treated as an answer to winning huge money fast when betting on horse racing.
Making parlay bets can immediately enhance the enjoyment that you get from watching a sporting event, but extra work should be put into researching the horse races that you are betting on to increase your chances of making winning selections.