We will continue looking at betting systems by looking at yet another positive progression betting system. The Parlay system of betting is a bit different from other systems where you’re mostly playing with “house money” during much of your gambling. Let’s learn more about this system and the advantage of it.
What is the Parlay System
The Parlay system of betting on casino games is another positive progression system where you will increase your bets whenever you win. However, you will only start each cycle with a single bet. Subsequent bets in the series will use the profits that you make on prior bets until you lose a bet or complete the cycle.
For example, let’s assume you’re playing roulette and are betting Red. You’ll start with 1 unit bet at $5. You win this bet for a profit of 1 unit. Next, you add the profit to your initial bet, making it a two-unit bet. If you win again, you will add the profits from the bet to the previous bet to make a four-unit bet. This continues until you either lose or decide to start over.
Where you decide to start is up to you. Some people decide how much profit they want to take. Let’s say you want to win 16 units. That would take a five-hand winning streak to accomplish. If you win five hands, you start over at 1 unit.
Advantages of Parlay System
The biggest advantage of playing the Parlay system is that the second and subsequent bets in a winning cycle are being played using the money you’ve already won. Your initial bet is the only money coming out of your pocket.
Next, you can take your profits whenever you want. If you want a little less variance, maybe take your profits after a three-hand streak instead of five. Some people will take a little profit after a couple of short streaks and play on that profit to try and hit longer streaks. However, you play your profits is up to you.
Disadvantages of Parlay System
The primary disadvantage of the Parlay system is that you are risking all of your profits on the second and subsequent hands in a series. It’s an all-or-nothing style of betting past the first bet. For those that are less risk-averse, it can be frustrating to lose potential profits chasing longer streaks.
Next, this game is best used for even odds bets. You can use it on blackjack, but certain bets could get expensive, such as a double down bet on the fourth or fifth hand of a cycle.
Parlay System Can Be Profitable to Those That Are Less Risk-Adverse
The thing that many subscribers this style of betting like is the chance to take a single bet and run it up in a winning streak. Go from $5 to $160 in six hands. While winning streaks can be hard to hit, they can be profitable.
If you plan to play this strategy, you need to keep your emotions in check and realize that you’re going to have a lot of broken streaks. For those that have some trouble with this, play shorter streaks to allow you some chance to take profits. For example, if you win three straight hands, you can finish the cycle with a $35 profit. You can then use $35 to try and hit a longer streak.
Will this system work over the long term? You already know the answer. It is impossible to beat the house over the long term. Over a short-term session, you can go on a streak and turn a profit. The best thing is that even if you do go on a losing streak, you will not lose nearly as much as using the Martingale system or other negative progression betting systems.