Multi betting – also known as accumulators, parlay betting or combo bets – is a popular form of gambling available at most Australian sportsbooks. Many punters enjoy creating bet slips filled with multi bets as they give them the chance to win absolutely insane amounts of money with small bets due to increased odds. That said, these bets are also much harder to win due to punters relying on multiple different results to determine the final result of the bet.
If you are keen to learn more about multi betting (and we know you are), stick around. Below we’ll go through all you need to know about multi bets in our guide. This includes how to make these bets, strategies to use when making them, and the advantages and disadvantages of playing these bets at Australian sports betting sites.
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What is a Multi Bet?
A multi bet is essentially a bet that combines a series of single bets to create one large bet with larger odds. With each bet a punter adds to the list, the odds are multiplied meaning that an increased payout can be expected from such bets. However, the important thing to note about these bets is that you have to predict every single outcome added to the list correctly in order to win the wager. If even a single incorrect prediction is made, punters lose the money wagered.
While placing multi bets can be fun and exciting due to the large prizes they offer, these bets are very hard to get right. In addition, sportsbooks may put some limitations on these offers. For example, punters will probably notice that there is a limit set on what a sportsbook is willing to pay gamblers on a single bet. For example, it doesn’t matter whether you fill up your betting slip with 15 wagers that amount to a possible AU$15 million payout if the sportsbook’s max payout on a single bet is AU$1 million.
Furthermore, some sportsbooks may also place limitations on the types of multi bets you can make. While some sites may allow you the option of combining events from different sports, others may not. Some sportsbooks also don’t like punters mixing future bets on different events due to high odds and increased potential winnings.
Overall, if you’re looking to place a multi bet, you have to know that you are going to have to do a load of research before placing it in order to stand a chance of winning it.
Multi Betting Strategies
As should already be clear, multi bets are quite hard to win due to the number of variables involved with them. Thus, bettors should try to use tried and tested strategies when they make them. We do not guarantee that punters will win anything while using these strategies, but our experts definitely saw an increased win rate while using them.
- Bypass Betting Limits – if there are betting limits imposed on a particular sport, you can use parlays to get passed this by adding all bets you want to make on a single slip. It is important to note though that you give yourself a smaller chance of winning the bet by doing this.
- Opposing Multi Bets – some sportsbooks allow punters to make multiple bets on the same match. So, for example, you could place a parlay on one match up in which you select the favourite to win and add an over/under option, then do the same with the underdog. The only issue with these bets is that they are good way to lose a lot of money if you keep on getting them wrong.
Advantages of Multi Betting
There are some advantages to be had with placing multi bets online. Some of the best benefits we’ve highlighted in our guide include the following:
- These bets are very exciting and rewarding to make as they promise big cash prizes due to the fact that you are unlikely to win them. This is especially true if a number of results are going your way in quick succession as it makes you believe that you actually have a chance of winning such a bet.
- This is the obvious advantage but we’ll mention it anyway – payouts are enormous if you actually win. Imagine placing an AU$10 wager on an outcome that a sportsbook has set 105.57 odds to. You will turn that small amount of cash into AU$1055.70 should you win the bet.
- Many sports betting sites have promotions on multi bets made on popular sports. For example, in season, punters should see sportsbooks offer deals on NRL and AFL multi bets across the internet. If you love placing a good multibet from time to time, you should really try to take advantage of one of these promos.
Disadvantages of Multi Bets
There are so many disadvantages associated with placing multi bets, despite the wonderful payouts they promise. Some such drawbacks include the following:
- These bets are very easy to lose. The larger the number of wagers included on your bet slip, the easier it becomes to get things wrong. Professional bettors or guides never recommend making parlay bets on a regular basis. Even though you have a chance to win a big payout, the likelihood of you winning is exceedingly low.
- Even though betting odds in multi bets increase with each event added to the bet slip, not all sportsbooks will give you the payout you would expect by trying to combine events together. Although no sportsbook will offer punters true odds, the juice or vig built into multi bets is much higher than with other forms of sports betting.
- Multi bets are an easy way to drain your bankroll if you are not careful. As already mentioned, these are hard bets to win. However, many punters are beguiled by the fact that they could win huge amounts of money with these bets. It is important to note that you should only ever make these wagers every now and then to ensure that you don’t burn through your bankroll quickly.