Parlay and accumulator Bitcoin betting is actually a pretty popular choice for sports lovers who are looking to maximize their winnings by adding multiple bets into one single wager. These bets offer the exciting possibility of turning small stakes into significant payouts. This is especially true when you’re using Bitcoin at online cryptocurrency sportsbooks.
This guide from GOSUBETTING will walk you through the basics of parlay Bitcoin betting, giving you expert tips and strategies along with valuable insights so that you can make better decisions and have a rewarding betting experience using Bitcoin.
What Is a Parlay and Accumulator Bitcoin Bet?
In Bitcoin sports betting circles, a parlay bet combines two or more wagers into one single bet. Depending on where you’re placing your bets (or which Bitcoin sportsbook you’re using), these might also be called “accumulators” or “multis.” To win a parlay, all the individual bets within the parlay bet, often referred to as “legs”, must win. If even just one of your bets lose, then the entire parlay goes down too.
Because of this higher risk factor (and let’s face it—it’s pretty high), crypto sportsbooks usually offer larger payouts for parlays. This is especially true as you add more bets into the mix. Parlay bets are riskier since they involve multiple outcomes but can have great payouts if everything goes to plan.
Why Are Parlay and Accumulator Bitcoin Bets Popular?
Parlays are popular because they offer potentially much higher payouts as each successful wager gets added on top of another. This potential for bigger winnings makes parlays incredibly appealing to Bitcoin bettors who love predicting multiple outcomes correctly and enjoy that extra layer of excitement.
However, and it’s worth remembering, the higher payouts come with longer odds attached. The chances of winning a parlay are lower simply because every single bet in that sequence has to be successful. For example, if you place a four-selection parlay and only three end up winning (even if just barely), you’ll still get nothing back.
Many sports fans gravitate towards parlays because they bring an extra level of excitement to their crypto betting activities. Instead of just rooting for one team (which can sometimes feel like watching paint dry), you get the thrill of backing two, three, four or even more teams. Plus, successfully predicting multiple game outcomes appeals to Bitcoin bettors who want to test their knowledge and strategy.
For those using Bitcoin specifically, parlays can be particularly exciting due to the potential for larger crypto payouts.
Parlay Strengths and Weaknesses
Like any Bitcoin betting strategy, parlaying has its pros and cons. You could either score big with a small bet or lose it all due to a single loss. Here’s what you should consider:
Benefits
- Significant Payout Potential: Parlays offer you the chance to dramatically increase your returns by multiplying the odds of your single bets.
- High Returns from Small Stakes: Even low odds can bring in decent profits when combined in a parlay, making it a high-reward strategy.
- Manageable Risk: Since parlays can yield high returns from small stakes, you don’t need to risk large amounts of money.
- Bookmaker Bonuses: Some Bitcoin sportsbooks offer special bonuses or rewards for placing parlay bets, which can improve your potential winnings.
Drawbacks
- Higher Risk: The more legs you add, the greater the risk. One wrong prediction can lead to losing your entire bet.
- Prediction Complexity: Successfully predicting the outcome of multiple events at once is much harder than focusing on a single bet.
- Smaller Stakes: Due to the higher risk, most Bitcoin bettors place smaller wagers on parlays, which might limit potential profits.
- Choosing the Right Bet: It can be challenging to pick the right combination of bets that will all succeed, especially with multiple outcomes to consider.
For Bitcoin bettors, the key is balancing the fun and potential rewards of parlays with the risks involved. Careful planning and selecting the right Bitcoin sportsbook can make a big difference in your crypto betting experience.
Understanding Different Parlay & Accumulator Bet Types
The incredible variety and sheer adaptability of parlay and accumulator bets are what makes them so appealing to cryptocurrency bettors, especially those who prefer using Bitcoin. So, let’s dive into the different kinds of parlay and accumulator bets you can place:
Moneyline
A moneyline parlay is one of the simplest ways to get started. You pick the winners for a few games, plain and straightforward. Imagine betting on multiple teams across different matches, if all your chosen teams win, you win big. This type is perfect for Bitcoin bettors who prefer focusing only on picking winners without worrying about point spreads or totals.
Totals (Over/Under)
Here, instead of just picking who wins, you’re betting whether the total points scored in each game will be over or under a number set by the Bitcoin sportsbook. It’s like rooting not only for your team but also keeping an eye on that scoreboard till the very end – a double thrill!
Spread
A spread parlay levels out disparities between teams by giving points to underdogs or taking them away from favorites. For example, maybe Chelsea needs to cover a spread against Manchester United while Leeds aims for an upset against Arsenal – all rolled into one bet where each must hit their mark.
Both Teams to Score
The “Both Teams to Score” parlay could be your cup of tea. This bet hinges entirely on both teams scoring at least once during their match-ups. Picture yourself watching edge-of-the-seat action as every goal counts toward winning or losing your entire bet.
Teaser
Feeling cautious yet adventurous? Enter teaser parlays – a flexible option allowing you some leeway by adjusting point spreads across multiple games in exchange for slightly lower payouts. It’s like tweaking settings in your favor while still basking in potential rewards, a good balance between risk and control.
Correct Score
The correct score accumulator is pretty much high-risk but can offer high rewards as well since it requires predicting exact final scores for each game in your selection (and yes), every single scoreline has got to be spot-on for victory here! This bet demands thorough knowledge about sports teams and the players involved.
Double Chance
A double chance accumulator offers more flexibility because it lets you bet on two possible outcomes within one game, like betting that one team either wins or draws or that either team wins excluding any draw scenario altogether! Experienced Bitcoin bettors often use this bet due to its coverage over multiple potential results within just one bet.
Steps to Place a Parlay Bet
Placing a parlay bet at a crypto sportsbook is easy once you get the hang of the process. Here’s a step-by-step guide with 8 easy steps that will help Bitcoin bettors begin:
Step1: Set Up Your Account
Once you’ve picked your GOSUBETTING recommended sportsbook, sign up for an account. This usually involves entering your email address, creating a password, and doing some quick verification steps.
Step 2: Get Your Bitcoin
Now it’s time to put money in your account. Head over to the deposit section where you’ll find either a Bitcoin wallet address or QR code (to send your money). Transfer the amount you want to bet with from your crypto wallet, and within minutes your balance should show the deposit.
Step 3: Research Your Bets
Scroll through the Bitcoin sportsbook’s lineup of games and events. Whether you’re eyeing a football match or even an NBA showdown later in the night, click on odds that catch your attention to add them to your bet slip. Remember, you’re building a parlay here so pick multiple bets that seem promising.
Step 4: Make Your Parlay
In your bet slip you’ll see all the Bitcoin bets you’ve added so far. Double-check your choices because accuracy is key, every leg in your parlay needs to win. The Bitcoin sportsbook will automatically combine these odds and show you what kind of payout you’re looking at, it can be pretty enticing.
Step 5: Decide on Your Bet
Now that everything’s set up with your parlay, decide how much Bitcoin you’d like to bet on this combination of bets. Enter this bet into its designated field, then watch as potential payouts update based on what you’ve entered – this is where excitement really starts building up.
Step 6: Place Your Bet
With everything in place hit the “place” button for confirming final details before submitting your official bet. Some crypto sportsbooks might give you a reference number too which could come handy for tracking closely afterwards, so keep note somewhere safe just-in-case you need it later down the line.
Step 7: Watch the Action Unfold
Now begins the waiting game…Track the progress by watching each event unfold live, some sites offer real-time updates along with cash-out options allowing secure portion winnings prior to the result.
Step 8: Cash Out Your Winnings
If you’ve been successful – congratulations, you’ve turned a bet into a sweet payout! To withdraw, head over to the withdrawal section and enter your wallet address, confirm the transaction and wait a short while until the money is safely in your account.
By following these 8 simple steps, any Bitcoin bettor can feel confident diving right into the exciting world of parlay bets at cryptocurrency sportsbooks and turn a small investment into a potentially significant return with high profit margins over longer periods of success.
Parlay Betting Strategies
In the world of Bitcoin betting, there are many parlay strategies that Bitcoin bettors use to maximize their chances, though none can guarantee a win every time. Football is the most common sport for parlays, but these strategies can apply to various sports. Here are some of the most effective parlay strategies:
Parlay on Favorites
This strategy involves selecting several (typically 2-5) heavy favorites to win. By combining these bets, you increase your potential payout, although the cumulative odds still favor the Bitcoin sportsbook due to the combined risks.
Horizontal Wager
The idea here is to place three single bets consecutively, using the winnings from each bet to fund the next. After winning the first bet, you reinvest all your funds, including the profits, into the second bet, and then do the same for the third bet. The advantage is that you can shop around for the best odds at different crypto sportsbooks, including Bitcoin sportsbooks, to maximize your payout.
Safe Parlay
This involves placing small bets on events with very low odds (usually no more than 1.2). The goal is to minimize risk while still offering a chance at a reasonable return. While the payouts are smaller, the safer nature of the bets makes it a safer approach to parlay Bitcoin betting.
Smart Parlay
In this strategy, you select three events for your parlay. If two of the three bets win, you then place a single bet on the opposite outcome of the remaining event. This technique, popular among experienced crypto gamblers, helps limit losses and can sometimes guarantee a small profit.
Aggressive Parlay
This is a riskier strategy where you choose two events with average odds and use a Martingale approach. If your bet loses, you double your next bet in an attempt to recover losses. This strategy can be very effective but also comes with the risk of quickly depleting your money if you’re on a losing streak.
Sure bet Strategy
If you’re looking to minimize risk altogether, a sure bet strategy might be the way to go. This involves placing bets on all possible outcomes of an event across different crypto sportsbooks to guarantee a profit, regardless of the outcome.
Popular Sports for Parley Bitcoin Betting
Popular Sports for Parley Bitcoin Betting
Parlay Bitcoin bets are popular across many sports but certain ones stand out due structural advantages, regular games and a range of different market choices available, making ideal candidates for constructing multi-leg bets to maximize returns. Here are 8 of the most popular sports we’d recommend looking into:
Football – Soccer
Football tops the list for many reasons, including the sheer volume of matches taking place globally. Events such as the English Premier League, La Liga international tournaments and the World Cup offer heaps of opportunities to place different types of bitcoin bets – moneyline, over/under, both teams to score and others to form your parlay.
American Football – NFL
The NFL is another prime candidate with weekly schedules that have a variety of options – spreads, totals, player props etc. Bitcoin bettors often combine multiple games or markets into a single parlay, hoping for a big payout.
Basketball – NBA
Basketball, specifically the NBA – enjoys widespread popularity, thanks to regular fast-paced games with many betting choices. Usually point spreads and performance props make excellent options for Bitcoin bettors that want an adrenaline rush throughout regular postseason activities
Tennis
Tennis is quite unique in the sense that it offers nearly daily matches, especially during those grand tournaments like Wimbledon or the US Open. Bitcoin bettors often enjoy placing parlay bets on multiple matches or specific outcomes, such as: who will win a set or the total number of games played, all within a single day of the tournament.
Baseball – MLB
The MLB season’s long and drawn-out schedule along with its daily games provide lots of opportunities for some serious parlay Bitcoin betting action. Bettors usually combine moneyline bets, totals, and run line bets across a few different games to take advantage of baseball’s statistical character.
Hockey – NHL
The NHL’s regular matchups and competitive atmosphere make it an incredibly popular choice for parlay Bitcoin bettors. Common bets for Ice Hockey include moneylines, puck lines, and totals, with bitcoin bettors often combining multiple games into one single parlay to capitalize on the fast-paced excitement.
Golf
Golf offers a unique betting environment with major tournaments such as The Masters and the U.S. Open. Bitcoin bettors can combine prop bets like total birdies, head-to-head matchups, or predicting round leaders to create exciting parlay bets across the multi-day events.
Motorsports – Formula 1 and NASCAR
Motorsports, particularly Formula 1 and NASCAR, have large followings and offer betting opportunities tied to race outcomes, podium finishes, and driver matchups. Bettors can create parlays involving race winners, fastest lap times, or head-to-head battles between drivers for high-reward returns.
Combat Sports – Boxing and MMA
While not as regular as other sports events, boxing and MMA bouts are also very popular choices for parlays. Bitcoin bettors often combine outcomes from various fights on a single card or include over/under rounds alongside method-of-victory bets to increase their payouts hugely.
Cricket
Cricket’s variety of formats—Test matches, One-Day Internationals (ODIs), and T20s—give parlay bettors plenty of action to bet on. Common parlay options include predicting total runs, wickets taken, and even team milestones across multiple matches, particularly during big events like the ICC World Cup and IPL.
Esports
Esports is another rapidly growing space for parlay Bitcoin betting. Games like League of Legends, Dota 2, and Counter-Strike offer diverse markets, including player performance, team objectives, and match outcomes. Bettors can create parlays across different matches or even within a single tournament to boost potential returns.
These 10 sports tend to be favored by parlay cryptocurrency bettors because of events being held often, diverse betting markets, and that appeal of possibly high payouts involved in every bet placed. Whether you’re betting on a Saturday filled with football matches or an entire week packed with NBA games, adding parlays introduces an extra layer of excitement as well as strategy into your overall Bitcoin sports betting.
Understanding Parlay Odds
Understanding how parlay odds work is important for becoming a successful sports Bitcoin bettor. As mentioned, parlay odds are basically the product of the odds for each leg of the bet multiplied together. The more legs you add, the higher the odds – and the potential payout.
For example, if you want to place a three-leg moneyline parlay with the following odds:
- Hamilton Tiger-Cats (+150)
- Toronto Raptors (-110)
- Montreal Canadiens (+220)
To calculate the overall odds, it’s easiest to convert each to decimal odds first:
- Hamilton Tiger-Cats: 2.50
- Toronto Raptors: 1.91
- Montreal Canadiens: 3.20
Next, multiply the decimal odds together:
2.50 x 1.91 x 3.20 = 15.28
This means the overall odds for your three-leg parlay are 15.28 to 1. If you bet $100 on this parlay and all three legs win, your total payout would be $1,528 ($100 x 15.28). While this is appealing, remember that if even one leg of the parlay loses, your whole bet is lost.
Understanding parlay odds involves multiplying the odds of each leg to get the overall odds of the parlay. Balancing the potential payout with the risk is key to making successful parlay bets, especially when betting with Bitcoin or other cryptocurrencies.
Parlay and Accumulator Bitcoin Betting Tips
Parlay betting can be an exciting and rewarding way to enjoy sports, but it’s easy for beginners to make mistakes that can lead to a losing bet. While there’s no foolproof method for winning parlays, there are some key tips to help you get the most out of your parlay betting, especially when using Bitcoin or other cryptocurrencies.
Choose the Best Bookmakers
Start by signing up with a reputable and trustworthy Bitcoin bookmaker that is recommended by GOSUBETTING that holds valid gambling licenses. It’s important to bet with crypto sportsbooks that offer competitive odds, so don’t hesitate to shop around for the best deals.
Choose Your Legs Wisely
every leg in your parlay acts as its own individual bet. A single misstep and you could risk losing everything. Think about recent performance stats, potential injuries, and other game-changers before locking in your bets. Precision here is key, each decision should be backed by solid information.
Evaluate the Odds
Each selected leg has its own set of odds that combine to create the total payout for your parlay. Remember, adding more legs might seem tempting due to higher payouts but also comes with higher risks. Finding that sweet spot between potential returns and reasonable chances is key.
Use a Parlay Builder Tool
Most sportsbooks now offer a “parlay builder” tool, which is useful if you’re betting with Bitcoin or other cryptocurrencies. This allows you to experiment with different combinations while showing real-time updates on odds and payouts. Remember to double-check before submitting since changes aren’t usually possible after placing your bet.
Balance Risk and Reward
When building a parlay, it’s important to carefully weigh the strength of each leg against the potential payout. Thorough research can help tilt this balance in your favor by choosing strong legs that align well together without overwhelming risks.
Be Selective with Your Bets
When building a parlay, it’s crucial to be highly selective with your choices. Only include bets that you feel confident about—those where you’re nearly 100% sure of the outcome. While adding more legs to your parlay can be tempting due to the potential for larger payouts, it also significantly increases the risk of losing the entire bet.
Hedge Your Bets
This is a strategy aimed at securing profits regardless of single outcomes within your parlay. Suppose you’re confident about one outcome in a tennis match but uncertain about another aspect like score specifics. By placing smaller bets against certain legs within your main bet, you create opportunities for guaranteed returns regardless of exact results.
Avoid Chasing Big Payouts
Don’t let the potential for a big payout cloud your judgment. Chasing large payouts with risky bets can lead to impulsive decisions and more losses. Focus on making informed, well-researched bets rather than trying to hit a big win with a risky parlay.
Limit the Number of Legs in Your Parlay
The more legs you add to your parlay, the harder it becomes to win. While the potential payout might be bigger, so is the risk. To minimize this, consider limiting your number of legs in your parlay.
Let GOSUBETTING Be Your Guide
Parlay bets, or accumulator bets, are complex bets that require a good understanding of how they work. Use the resources and guides provided by GOSUBETTING to learn the ins and outs of parlay Bitcoin betting and make better choices.
Do Your Research
Just like with any other type of Bitcoin betting, research is key. Look into teams, players, leagues, past performances, and injury reports. Understanding these factors can help you make good decisions when placing your parlay bets. Remember, knowledge is power.
Start Small
When you’re new to parlay crypto betting, it’s clever to start with less selections that are easier to manage. While adding more selections can increase your winnings, it also lowers your chances of winning. Start small and slowly build your experience.
Bet on Familiar Markets
Stick to sports, markets, and leagues you know. Betting on what you know minimizes risk and increases your chances of placing successful bets. Avoid venturing into unfamiliar territory until you’ve gained more experience.
By applying these tips, you can approach parlay betting more strategically. As you now know, parlays bring an element of strategy that singles don’t offer but do require preparation in order to maximize their payoff potential when using Bitcoin at GOSUBETTING recommended sportsbooks.
Parlay Getting Voided
When placing a parlay Bitcoin bet, there are times where one or more legs might get voided and your bet is returned. It’s important to understand how returns are calculated in these cases. Usually, if a leg is voided, it’s treated as if it had odds of “1.0,” meaning it neither wins nor loses, it just doesn’t count toward the overall parlay. The payout is then calculated based on your remaining valid legs.
Common reasons for a parlay leg being voided include situations involving totals and handicaps, but there are also non-sports-related reasons that might cause a void:
- Event Cancellation: The event is canceled, and no result is declared.
- Non-Sports Reasons: For example, if there’s evidence of an agreement or collusion between participants.
- Rule Violations: The sportsbook suspects the bettor of violating terms and conditions.
- Premature Game Ending: The game ends ahead of schedule without a conclusive result.
- Odds Errors: The bookmaker realizes they made an error in setting up the odds for the game.
Unfortunately, some dishonest crypto bookmakers may void even legitimate bets, citing rule violations, errors in odds placement, or accusations of foul play. To avoid this, it’s important to bet with reputable and official sports books recommended by GOSUBETTING, especially when using Bitcoin, as these platforms offer transparent and fair practices, ensuring that you are protected.
Myths and Truths of Parlays
Are parlays a smart crypto betting strategy or a risky gamble? This question has fueled debate in the Bitcoin sports betting community for years. On one side, parlays offer the appeal of higher payouts compared to normal betting.
On the other hand though, they come with higher risk and unpredictability. In this section, we’ll break down the myths and truths of parlay Bitcoin betting, giving you the information you need to see if this strategy is right for you.
Myths of Parlays
Parlays are “Easy Money”
A common misconception is that parlays are an easy way to make quick money. Many Bitcoin bettors fall into the trap of thinking that combining two or three bets into a parlay will guarantee a bigger payout without much effort. However, while parlays do offer the potential for higher rewards, they are far from a sure thing.
Predicting the outcome of a single event is challenging enough, predicting multiple events correctly is even more difficult. The truth is, most sports bettors would consider themselves successful if they win over 50% of their bets, let alone hit a multi-leg parlay consistently.
Parlays are Only for Experienced Bettors
Another myth is that parlays are too complex for beginners and should only be attempted by experienced Bitcion bettors. While parlays do require some understanding of how different bets work together, they are not only for experienced pros.
With proper research and a clear understanding of the risks involved, anyone can place a parlay bet. The key is to gamble responsibly and not to be swayed by the thought of large payouts.
Truths of Parlays
High Risk, High Reward
Parlays are indeed a high-risk, high-reward crypto betting option. They offer the potential for much larger payouts compared to single bets, but this comes with greater risk. The more legs you add to your parlay, the higher the payout, but also the greater the risk.
Difficulty in Predicting Outcomes
It’s true that the more bets you add to a parlay, the harder it becomes to predict the outcome of each one. For example, if you’re betting on five NBA games in a single night, even if you’ve done thorough research, different factors like player injuries, team fatigue, or an off night for a key player can throw off your predictions.
The difficulty and unpredictability increase with each added leg, making it more challenging to win the parlay. Understanding the myths and truths help you approach parlay betting with a clear perspective. This is important when betting with Bitcoin or other cryptocurrencies. While parlays offer the chance of big returns, they need careful consideration and a clever approach as we have mentioned throughout this guide.
Should You Make Parlays or Single Bets?
As you will have now gathered, Bitcoin sportsbooks often promote parlays because they multiply the odds, which also multiplies the built-in house edge. This multiplication works in favor of the crypto sportsbook, not the bettor.
While parlays can be exciting, serious Bitcoin bettors focusing on long-term profits are generally better off placing single bets with a well-thought-out betting plan. If you enjoy the excitement of parlays, consider including smaller combinations within your bet. This way, one loss won’t ruin the entire bet.
GOSUBETTING’s Final Take
As you navigate the world of sports betting, understanding parlays is important. Parlays can definitely be a powerful addition to your Bitcoin betting strategy. Parlays offer the opportunity for big wins (with the right knowledge and care).
Armed with the tips in this guide, you should feel confident in developing a successful approach to parlay Bitcoin betting and have a better understanding of parlay betting. Enjoy the exciting world of parlay sports betting, whether you’re betting with Bitcoin and other cryptocurrencies.
Frequently Asked Questions
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What if one of the bets in my parlay results in a push?
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How are Teaser Bets different from Parlays?
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What happens if a game in my parlay bet is canceled or postponed?
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Can I parlay the moneyline and spread from the same game?
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How many bets can I include in a parlay?
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Can I place a parlay bet with Bitcoin?
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Do all sportsbooks offer the same odds on parlay bets?
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Are parlays worth the risk?
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Are there any advantages to placing parlay bets with Bitcoin?
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What happens if I cash out a parlay bet early?