Skip to main content

How to Use the Parlay Betting System

parlay betting system explainedThe Parlay betting system is one of the oldest betting strategies around. It first recorded use of this strategy was in 16th century Italy, but it is possible that this strategy existed long before that.

In a nutshell, the Parlay system is a positive progression system, which sees you increase your bet each time you record a win. So, instead of betting with your own money, you place bets with house money. The idea with this strategy is to reduce your overall losses.

While we will give you a more detailed explanation of how to use the parlay betting system below, it is important that you do not confuse the system with the parlay bets used in sports betting.

In sports betting, a parlay bet is a specific type of bet. However, in casino games, the Parlay betting system simply dictates whether you increase or decrease your total bet amount. You can still make whatever type of bet you like. For example, in roulette, you can use the Parlay betting system while making red or black bets or straight bets.

If you would like to find out more about the Parlay betting system, keep on reading. Below we explain how this system works as well as the advantages and disadvantages of using it. We also list some great online casinos where you can try using this system for yourself if you find it intriguing. So, read on and learn more about this betting system.

Best Online Casinos

Online casinoWelcome BonusPayoutRatingVisit Site
1 High Country Casino
500%
98.68%
 
Play High Country Casino
2 Slots of Vegas Casino
$5,000
98.22%
 
Play Slots of Vegas Casino
3USA Top Online Casino irish Luck USA Casino
$3,000
98.10%
 
Play Irish Luck Casino
4Bovegas Casino
$6,000
98.21%
 
Play Bovegas Casino
5 Cafe Casino Best American Casino
$5,500
99.21%
 
Play Cafe Casino
6Las Vegas
$12,250
98.28%
 
Play Las Vegas Casino
7Sun-Palace-Casino
$10,000
98.25%
 
Play Sun Palace
8old havana Casino
$3,000
99.55%
 
Play Old Havana Casino
9 Ruby Slots
250%
98.86%
 
Play Ruby Slots
10 supernova
$3,000
98.22%
 
Play Supernova Casino
11 Platinum Reels Casino
350%
98.67%
 
Play Platinum Reels Casino
12 Lucky Hippo Casino
$3000
98.32%
 
Play Lucky Hippo Casino
13 el royale casino
$1 000
97.72%
 
Play EL Royale Casino
14 Free Spin Casino
$2,500
98.06%
 
Play Free Spin Casino
15 red dog casino
$12 250
98.28%
 
Play Red Dog Casino
16 Bovada Casino
$3,000
98.10%
 
Play Bovada Casino
17 domgame Casino
$3,000
98.04%
 
Play Dom Game Casino
18 Cherry Gold Casino
$7,500
97.06%
 
Play Cherry Gold Casino
19 planet 7 casino
$4,000
97.15%
 
Play Planet 7 Casino
20 Twoup
$3,000
98.04%
 
Play Two Up Casino
21 Golden Lion Casino
$3,000
98.09%
 
Play Golden Lion Casino
22 Royal Ace Casino
$1,000
97.72%
 
Play Royal Ace Casino
23 Prism
350%
98.67%
 
Play Prism Casino
24 Wild vegas Casino
350%
98.77%
 
Play Wild Vegas Casino
25 raging bull casino
$2,500
98.18%
 
Play Raging Bull Casino
26Vegas Casino
$3,000
99.00%
 
Play Vegas Casino
27 Club Player
350%
98.67%
 
Play Club Player Casino
28Diamond Reels Casino
$5,000
98.45%
 
Play Diamond Reels Casino
29 Sports and casino
$3,000
96%
 
Play Sports and Casino
30 cool cat casino
$3,000
98.00%
 
Play Cool Cat Casino
31 lincoln casino
$1,000
97.43%
 
Play Lincoln Casino Casino
32 poker online
200%
98.89%
 
Play Palace of Chance Casino
33 Exclusive Casino
$3,000
98.22%
 
Play Exclusive Casino
34 eclipse casino
$2,000
98.22%
 
Play Eclipse Casino
35 slots lv
$3,500
98.22%
 
Play Slots Lv Casino
36 ignition-casino
$1,000
98.22%
 
Play Ignition Casino
37 Silver Oak Casino
$3,200
98.00%
 
Play Silver Oak Casino
38 Slots Plus Casino
$2,500
98.14%
 
Play Slots Plus Casino
39 Liberty Slots Casino
$777
98.41%
 
Play Liberty Slots Casino
40 Dreams Casino
$2,000
98.71%
 
Play Dreams Casino
41 Grand Fortune Casino
250%
98.77%
 
Play Grand Fortune Casino
42 Captain Jack
$11000
98.66%
 
Play Captain Jack Casino
43 high-noon-casino
$2,000
97.00%
 
Play High Noon Casino
44 Buzz Luck Casino
$1000
97.90%
 
Play Buzz Luck Casino
45CryptoReels
$4,500
98.55%
 
Play CryptoReels Casino
46 Lucky Red
$4,000
98.22%
 
Play Lucky Red Casino
47Club World Casino
$3,000
99.55%
 
Play Club World Casino
48 aladdins-gold-casino
300%
98.15%
 
Play Aladdin’s Gold Casino
49All star slots
$4,000
97.21%
 
Play All Star Slots
50 Manhattan Slots
$5,000
98.01%
 
Play Manhattan Slots
51 Slots of madness Casino
300%
98.89%
 
Play Slots of Madness
52 Aussie Play Casino
$2250
96.10%
 
Play Aussie Play Casino
53 Slots of madness Casino
R2 220
97.10%
 
Play Slots Empire
54 Drake Casino
$6000
98.00%
 
Play Drake Casino
55 Drake asino
$20000
98.10%
 
Play Cherry Jackpot Casino
56 CasinoMax Casino
$9000
98.80%
 
Play CasinoMax Casino
57 Roaring21 Casino
$10000
98.47%
 
Play Roaring21 Casino
58 Spinifinity Casino
$2500
98.34%
 
Play Spinifinity Casino

Parlay Betting Rules

As mentioned above, the Parlay system uses the same basic principles that any positive progression system uses. In saying this, we mean that you increase your bet size when you win and decrease it when you lose.

This may seem a little ambiguous, so here is a quick walkthrough of how you would employ this system during a gaming session:

  1. Before you start gambling, you decide on some betting limits, including a bet size (or a unit size) and a maximum win limit. For example, your bet size could be $5 and your maximum win limit could be $100.
  2. While gambling, if you win a bet, you double your bet. After your first win, you will already be playing with house money. So, continuing with the example, after your first bet, your bet size will be $10. If you win again, your next bet will be $20. You will continue doubling your bet until you either reach your win limit or you lose.
  3. Should you lose during a winning streak, you will need to return to your starting bet. So, for example, if you lose on a $40 bet, your next bet will need to be $5.

The idea of the win limit is to keep banking your profits so that you at least walk away with something at the end of a game session. In a real-life gaming situation, we suggest that you do not make your win limit to far away from your initial bet. You reduce your chances of walking away with winnings by doing so.

parlay betting

Advantages of the Parlay System

There are a couple of advantages that come with using the Parlay system, including:

  • If you are on a winning streak, you can win a lot of money very quickly.
  • You do not risk your own funds as you play on house money after a few wins.
  • The max win limit allows you to bank your winnings periodically.
  • If you employ the strategy strictly, it can prevent you from spending more money than you would like.

Disadvantages of the Parlay Betting System

Everything that has advantages has disadvantages too. Or, else every player would be using the Parlay betting system. Some disadvantages include:

  • This strategy is not good for long-term playing sessions. It is always important to remember that the house always wins.
  • If you set your win limit too high, there is a chance that you could walk away with no winnings at all.
  • The system works best if you stick to even money bets, which may put off some high-risk players.

Should I Use the Parlay System?

Generally, positive progression betting systems are not detrimental to your bankroll. They encourage less spending and playing on your winnings rather than your own money. So, using the Parlay system isn’t a bad idea.

The system can also be used in pretty much any table game, including blackjack, roulette, baccarat, and craps. But you need to remember that the Parlay system does not increase your odds of winning bets.

However, that being said, we recommend that you be reasonable with your bet limit so that you do not miss out on banking some winnings. Also, remember that this system does not decrease the house edge (no betting system does).

Related Guides