Pay Per Head Tips: Understanding Parlay Betting and Profitability

In almost every case, parlay betting leads to profitability. Online bookie agents must first understand this before reading the rest of this blog.

That’s the key thing to remember. Don’t fear parlay bets. There are some things to consider, though.

Before getting into that, check out why parlay betting is a great driver of profits.

Parlay Bets – Huge Profit Drivers

Parlay bets are huge profit drivers because in most cases parlays are designed to ensure losses. Yes, a casual player will occasionally hit a huge parlay. Huge parlays almost never happen.

The reason is due to the parlays odds structure. A 2-team parlay pays 2 to 1. The true odds are much closer to 3 to 1, or, maybe, even 7 to 2.

When it comes to football, basketball, and baseball games, Vegas oddsmakers are so good at creating correct against the spread odds that it’s much more difficult to hit a single game, much less 2 games.

Think of parlay betting as more like a casino bet than anything else. When a player spins the roulette wheel, that player gets even money if the ball falls on red or black.

The true odds of the ball falling on red or black isn’t even money because of the 2 green spaces.

That’s where the casino gets its edge in roulette betting. The edge in parlay betting is the spread. That’s what the spread is for. It’s designed to make both sides of a wager attractive so that money is spread around on different games, from different players, across the sports betting board.

But, you might be thinking, can’t smart pro players juice parlay bets by adding money line teams? Ah, that’s why the next section is so important for pay per head agents to read.

How to Prevent Money Line Juiced Parlay Bets

Here’s a reminder:  you, the per head agent, runs your own business. The bookmaking business belongs to you. Why must you allow players to add as many money line bets as possible to a parlay?

Nothing says you can disallow players from adding money line wagers to boost their parlay payouts. Just don’t allow it.

You can also put a limit to the number of teams placed into any parlay bet. There’s no reason, as an example, for someone to put 10 teams into a parlay. You can also decide to take a game off the board for parlay betting.

Thinking about the point spread is a good method to finding games to take off the board for parlay wagers. Clemson is favored by close to 40 points to beat Kent State in a Saturday game.

Clemson is such a huge favorite that it’s obvious odds makers came up with a random number.

Maybe, disallowing Clemson to be a part of any parlay bets makes sense because Vegas created a spread that appears to have nothing to do with research.

If you use smart management methods to prevent the big parlay score, the likelihood of a big parlay score happening is almost nil.

All online bookie agents should encourage parlay bets. The edge is definitely with the bookie.

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Odds to win the 2012 Masters (as of March 19)

Although he has won only one tournament in more than two years, Tiger Woods is still one of the favorites to win the 2012 Masters.

The 36-year-old American, who has won the Masters four times, has the second-best odds to win at most offshore sportsbooks. Currently ranked No. 18 in the world, Woods finished tied for fourth at last year’s Masters.

Northern Ireland’s Rory McIlroy, 22, is the odds-on favorite to win the 76th edition of the tournament, which begins on April 5. The 2011 U.S. Open Champion, who is currently ranked No. 2 in the world, finished tied for 15th in last year’s tournament.

Three-time Masters Champion Phil Michelson of the United States has the third best odds to win just ahead of England’s Luke Donald, the No. 1 ranked golfer in the world.

To convert odds into other formats, click here

Odds to win the 2012 Masters
Rory McIlroy
Tiger Woods
Phil Mickelson
Luke Donald
Lee Westwood
Adam Scott
Charl Schwartzel
Dustin Johnson
Jason Day
Justin Rose
Sergio Garcia
Nick Watney
Webb Simpson
Martin Kaymer
Keegan Bradley
Hunter Mahan
Matt Kuchar
Steve Stricker
Bubba Watson
Bill Haas
Rickie Fowler
Brandt Snedeker
K.J. Choi
Graeme McDowell
Geoff Ogilvy
Padraig Harrington
Alvaro Quiros
Ian Poulter
Gary Woodland
Anthony Kim
Paul Casey
Jim Furyk
Angel Cabrera
Zach Johnson
Martin Laird
Ernie Els
YE Yang
David Toms
Aaron Baddeley
Bo Van Pelt
Robert Karlsson
Matteo Manassero
Trevor Immelman
Camilo Villegas
Louis Oosthuizen
Fred Couples
Henrik Stenson
Jhonathan Vegas
Jonathan Byrd
Retief Goosen
Ryo Ishikawa
Stewart Cink
Francesco Molinari
Ryan Moore
Fredrik Jacobson
Ben Crane
Jeff Overton
Mark Wilson
Ross Fisher
Steve Marino
Tim Clark
Vijay Singh
Edoardo Molinari
Robert Allenby
Rory Sabbatini
Sean O’Hair
Miguel Angel Jimenez
Darren Clarke

Sports Options: By the numbers

Let’s take a look at some of the interesting odds-related numbers related to this year’s college bowl games that are currently appearing on the Sports Options odds service.

Big Total

The Big Total in this year’s college bowl season features Washington (7-5) taking on No. 12 Baylor (9-3) in the Alamo Bowl at the Alamodome in San Antonio, Texas on Thursday, December 29 (6 p.m. PT, ESPN).

The total in this matchup opened at 76.5 points, but has since increased to 78.5 at most sportsbooks listed in the Sports Options odds service.

Despite the big number, the betting public still think it’s too low: 60 percent of public betting action was on the over as of 7:30 a.m. PT on Dec. 13.

Led by quarterback Robert Griffin III, this year’s Heisman Trophy winner, the Baylor Bears have the No. 6 offense in the nation averaging 43.5 point per game (ppg). Griffin is averaging 333 yards per game (ypg) through the air and 53.7 ypg on the ground.

The Huskies, meanwhile, have a fairly soft defense having allowed 33.3 ppg, third most in the Pac-12.

Baylor is 10-2 on the over/under this season; Washington is 6-5-1.

Little Total

In what will come as no surprise to most football handicappers, the BCS National Championship has the lowest posted total among all of this year’s college bowl games.

No. 2 Alabama (11-1) faces No. 1 LSU (13-0) at the Superdome in New Orleans on Monday, January 9 (5:30 p.m. PT, ESPN). The total opened at 39 but since inched up to 40 at most online sportsbooks.

Although it’s the lowest total on the board, bettors don’t think it’s low enough: 62 percent of public money was on the under as of 7:30 a.m. PT on Dec. 13.

Both SEC powerhouses boast defensive juggernauts. The Crimson Tide led the nation allowing only 8.8 ppg. Right behind them were the Tigers, who gave up a mere 10.5 ppg.

The BCS title game will be a rematch of the November 5 showdown in Tuscaloosa. LSU won that game 9-6 in an overtime game that featured no touchdowns. The game fell well below the 41.5-point total.

The Tigers are 7-5-1 on the over/under this season; the Crimson Tide are 6-6.

Big Spread

The Big Spread this bowl season features Iowa (7-5) versus No. 14 Oklahoma (9-3) in the Insight Bowl at Sun Devil Stadium in Tempe, Arizona on Friday, December 30 (7 p.m. PT, ESPN)

The Sooners are opened as 15.5-point favorites. That number has since dropped to 14 points at most offshore sportsbooks. Action on this game is pretty much evenly split.

The Sooners are 6-6 against the spread (ATS) this season; the Hawkeyes are 5-7 ATS.

Big Move

In the Big Move matchup, No. 23 West Virginia (9-3) takes on No. 15 Clemson in the Orange Bowl at Sun Life Stadium in Miami, Florida on Wednesday, January 4 (5:30 p.m. PT, ESPN).

This game opened as a pick’em at about 6:10 p.m. on Sunday, December 4. Within about five minutes, early action poured in on Clemson, who became a 3-point favorite. The Tigers are now 3.5-point favorites at most online sportsbooks.

Money continue to come in on Clemson: 83 percent of the public betting action was on the Tigers as of 7:30 a.m. PT on Dec. 13.

Clemson is 8-5 ATS this season; West Virginia is 6-6 ATS.

Sports Options: By the numbers

Let’s take a look at some of the interesting odds-related numbers currently appearing on the Sports Options odds service.

Big Total

In this week’s Big Total matchup, No. 24 Southern Mississippi visits No. 6 Houston in the CUSA title game at Robertson Stadium in Houston (Saturday, 9 a.m. PT, ABC).

The posted total in this game is 72 at most online sportsbooks listed in the Sports Options odds service.

The game opened at 70.5, and despite an increase of a couple of points, bettors still don’t think it’s enough. As of 4:30 p.m. PT on Friday, 90 percent of public betting action was on the over.

Why is the total so high? Both teams have prolific offenses. Led by standout quarterback Case Keenum, Houston (12-0) has the top offense in college football scoring 52.7 points per game (ppg). Keenum leads the nation is both yards (4,726) and touchdowns (43).

The Bulldogs, meanwhile, have the No. 15 ranked offense scoring 36.9 ppg.

Both teams, however, will have to contend with solid defenses. The Golden Eagles are allowing 20.5 ppg and the Cougars are allowing 20.9 ppg, second and third respectively in the conference.

Houston is 7-5 on the over/under this season; Southern Miss is 5-7.

Little Total

In this week’s Little Total matchup, the Kansas City Chiefs visit the Chicago Bears (Sunday, 10 a.m. PT, CBS). The total in this tilt opened at 38.5, but has since dropped to 37 at many offshore sportsbooks.

The Chiefs (4-7) have the No. 29 scoring offense in the league (13.9 ppg). KC is without their No. 1 quarterback, Matt Cassel, who is out for season with a hand injury.

Backup Tyler Palko (47-for-72, 444yards, 0 TD, 6 INT) is expected to the get the start for the Chiefs, although newly-acquired QB Kyle Orton could get some playing time.

The Bears (7-4) have the No. 6 offense (26.2 ppg), however, they too are without their No. 1 QB, Jay Cutler, who is out with a thumb injury. Backup Caleb Hanie (18-for-36, 254 yards, 2 TD, 3 INT) will get the start.

The public still sees this game falling below the total with 76 percent of the betting handle on the under as of 4:30 p.m. PT Friday.

Big Spread

In this week’s Big Spread matchup, 1-10 New Mexico visits 10-1 Boise State (3 p.m. PT). The No. 7 Broncos are listed as 48.5-point home favorites.

Boise State is scoring 43.1 ppg, most in the Mountain West conference, No. 6 in the nation. New Mexico, on the other hand, is scoring the fewest points in college football (13.1 ppg).

Despite the hefty point spread, the public still likes the Broncos to covers: 65 percent of the public money is on Boise State.

Big Move

In this week’s Big Move matchup, No. 14 Georgia takes on No. 1 LSU in the SEC title game at the Georgia Dome (1:00 p.m. PT, CBS).

The Tigers opened as 10-point favorites, however, over the course of the week, the line has widened to 13.5 points at most online books.

LSU is 12-0 (9-3 ATS) on the season, and pretty much seems invincible. The Bulldogs are 10-2 (8-4 ATS).

The 3.5-point line move has not been enough to pull the public away from the Tigers: 77 percent of the public action is on LSU.

Sports Options: By the numbers

Let’s take a look at some of the interesting odds-related numbers currently appearing on the Sports Options odds service.

Public dogs

Looking at the Sports Options odd service, there are three notable games on the college basketball betting board tonight where public betting action is on the underdog. All three games are a part of the annual ACC-Big Ten Challenge.

In the first game, No. 14 Michigan visits Virginia (4 p.m. PT, ESPN2). The Cavaliers (5-1) are listed as 3.5-point home favorites, however, 70 percent of the betting action is on the Wolverines (5-1).

In the second game, Northwestern visits Georgia Tech (4:15 p.m. PT, ESPNU). The Yellow Jackets (4-2) are 2-point favorites, but 75 percent of the action is on the Wildcats (5-0).

In the third game, No. 3 Duke visits No. 2 Ohio State (6:30pm PT, ESPN). The Buckeyes (6-0) are listed as 7.5-point home favorites, however, the public leaning towards Duke (7-0) with 56 percent of the betting action on the Blue Devils as of 10:45 a.m. PT.

Despite betting on the dogs, the public is heavily on the OVER in all three games.

LSU lovefest

Bettors are piling on LSU in this Saturday’s SEC Championship between the No. 1 Tigers and the No. 14 Georgia Bulldogs at the Georgia Dome in Atlanta (1 p.m. PT, CBS).

LSU (12-0) opened as a 10-point favorite, but the spread has since widened to 13.5. As of Tuesday morning, 78 percent of public money was on the Tigers.

Georgia (10-2) is 8-4 against the spread (ATS) this season; the Tigers are 9-3 ATS.

The total in this game opened at 45 and has edged up to 46 at several online sportsbooks.