Parlays were mainly brought in for small bettors that wanted to make a bet for 3-4 races in a row.The best part about them was that you could parlay the horses for w/p/s which for many made it easier to hit. Also there was a one time take take-out that you wouldn't get if you just bet the horses as singles in each race. Now when almost every race starts a pick-3 you will in general recieve a higher payout than if you just parlayed the horses.
Say you parlay 3 horses to win in 3 races, the first horse wins and pays $10, That means your horse in the second leg has $10 to win on that horse. Say he wins and pays $10, your parlay is now up to $50. Now is the part that most dont like, you are commited to the a $50 win bet on the last horse in your parlay. I for one like having the option to bet that 50 on the horse or not but with the parlay you have no choice. I hope this exclamation helps you out. It's easier to explain in person. To answer your question, I dont personally like betting parlays.
