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As you can see, parlay is a strategy where you're doing somewhat of the opposite of a martingale strategy. You take your winnings and original stake, and put it towards another match. This means that you increase your bet based on if you won. The risk here is that if you lose once, you lose all your stake plus winnings that were built up.
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Isn't that just reverse martingale? Only difference being that martingale is loosely based on 50/50 probability. Or more like it lures people thinking it makes sense. However with sports betting it doesn't work like that. Not that there would be anything wrong doing reverse martingale, but it's far from the idea of original reverse martingale.
I have however tried this with basketball and "sure bets", as combining them creates decent multipliers, and while it can work for a while, all it takes is one loss to get start from beginning, it hasn't really been successful so far. And obviously i realize that there are no strategies that work, that there's only luck. But it's still fun to try and look for winning patterns that doesn't exist, as that's hard coded to human brains benause of that, it's emotionally rewarding.
The idea is similar to reverse martingale in its fundamentals because whatever you win gets compounded for the next bet. We can create an example to illustrate this even better.
You create a bet slip on outcomes with these odds:
1.50
1.20
2.78
The total multiplier on your stake for this slip should be ~5x which is the result of 1.5*1.2*2.78.
The logic of this is that if you win your first bet your money is multiplied, if you win the second bet your money plus winnings is multiplied... With this going on for however many outcomes you have put in the slip. The good thing with parlay multi-bets is that you don't have to way for matches to end in order to get your winnings and apply this strategy. You can bet on multiple matches on a single slip even when live.
Gambling is gambling and nothing works in gambling. What works for you may not work for another and knowing what will work for you is something you don`t know as long as gambling is concern. The only thing within your control is your stake so we should talk more about the method which will help us control our stake and prevent incurring irreparable losses. For the outcome of a game, we cannot control. For instance, the author has noted the English Premier League as reliable for multi-bet. Yesterday, Chelsea played against Wolves. Chelsea played at home and the odds were in favour of Chelsea to win but they lost. The question now is will multi-bet strategy save you if you have selected Chelsea? only luck will make you avoid the Chelsea game.
In my opinion, a gambler is always a loser. If you can not stop gambling then control your stake. No method will work. If there is any method that works then gamblers all over the world should have known this method and should have been rejoicing every day because profit should be certain even if we don`t win every day but then the constant advocacy for not relying on gambling as a full-time job tells us one truth; in gambling you must lose no matter the strategy only luck makes you rich.
This is precisely why I've added the disclaimer I added in the OP. But we have to also consider that many people who are already placing their money in gambling maybe want to try something new. Perhaps they can get lucky or in combination with their knowledge and intuition parlay bets can be a profitable strategy for them.