The start of a new season of football in the NFL could be the favorite time of the year for both fans and sports bettors alike given the tremendous popularity of this league. If you are a big fan, you are probably concentrating on your favorite team’s early performance in the preseason or how you are going to set up your fantasy draft. If you are an avid sports bettor, then you should be concentrating on how you are going to beat the books this time around.
To be truly successful betting on any type of sporting event you first need to have a plan. When it comes to betting on the NFL, this involves a weekly betting strategy for the games that includes a money management system that makes the best use of your overall sports betting bankroll.
One way to try and maximize the value in each of your NFL bets is to play parlays. Very simply, a parlay is a grouping together of two or more individual picks into one bet. The trick to winning parlays is making sure everyone of your picks wins. That sounds easy on paper, but there is a good reason why the sportsbooks offer a higher return for parlays then they do for individual straight bets. Even a two-team parlay can be tough to hit and as you begin to add more than three teams to the mix, the actual value in the added return on investment begins to decrease.
That is why the first betting tip for winning NFL parlays is to limit them to no more than three teams. While your eyes might light up at the prospect of earning a 10/1 return on your money for hitting a four-team parlay, you actual odds of winning this bet are usually far greater than that depending on the set moneyline odds for the four games that you play.
The standard payoff with most online sportsbooks for hitting a two-team parlay is 13/5. This means that $100 wager would earn $260. If you bet each game individually and won them both for that same $100, your return would be $200, but your overall risk increases to $220 if you happen to lose both games. If you decide to bump this parlay up to three games, the potential return increases to 6/1 on the amount of your overall parlay bet.
The biggest guiding factor in any parlay play is confidence. If you are not completely confident that every one of the picks you decide to group together in a parlay is a winner, then you are better off betting those games individually. The best course of action is to spend your time handicapping three or four NFL games each week and then narrowing things down to the two games you love the most for a parlay play. If one particular week there happens to be three games that you absolutely love, then expand your parlay to three games.
Another important aspect of developing a winning betting strategy for NFL parlays to stick to a set budget for each week as part of the money management end of the equation. If you normally bet $100 on each individual game, then you might want to actually limit your parlay play to $100. This will not only extend your bankroll, it will minimize your overall risk.
One last thing to do each week is to track your results. You should always know which aspects of your handicapping efforts are on point and which ones are way off base and costing you money. Playing NFL parlays are a great way to enhance your overall return on investment, but the end result is only going to be as good as the upfront effort you put in.