The Parlay system is commonly used in sports betting but many casino players opt for incorporating it in games like roulette, baccarat and blackjack. In fact, the Parlay is among the most popular betting systems, used by roulette players.
Its origins can be traced back to the 16th century when aristocrats used to incorporate it in the then-popular card game basset. The latter was played against the banker, with players’ winnings remaining on the table. The winnings were doubled with each subsequent bet.
When a given player “parlays”, they wager their winnings in addition to their original stake. The system can be used by roulette novices as well since it is easy to learn and implement. The Parlay is applicable to both inside and outside bets in roulette which renders it suitable for risk-averse and more daring players alike.
How Does the Parlay System Work
The Parlay resembles the Paroli system as it is based on a positive betting progression meaning that players are expected to increase the amount of their stakes after each win and decrease it after a loss. The Parlay system depends on players’ runs of success or in other words, on an imbalance in their favour, allowing them to enter a winning streak. Many players prefer to use this system, because with the Parlay they are losing from their winnings instead of risking their own bankroll.
If you want to use the Parlay betting system in roulette, the first thing you need to do is decide how much your basic betting unit will be. It is also important for you to set a maximum win limit so that you know when to take your winnings off the table. You can keep placing level/flat bets on even money until you register your first win. After that, you can double the size of your stake after each win and reduce it to the initial betting unit once you enter a losing streak.
It would be best to demonstrate how the Parlay works with an example. Let’s suppose you start with an initial betting unit of £10. You have set a maximum win limit of £240 for this session. You want to place an outside bet on Black which has an even-money payout of 1 to 1. Your even-money bet on Black wins, so you double your stake and bet £20 on Black.
Your second bet also proves to be successful so you are required to wager £40 on your third bet on Black. Luck is on your side and you happen to win again. This time, you decide to wager the profit of £40 on a Dozen bet on the first dozen. Number 8 is spun and you win £120 this time. Next, you opt for betting the sum of £120 on Even. The ball lands on number 14 and you end up winning £240 since Odd/Even bets pay even money.
The Martingale Betting System
The Parlay Betting System
Paroli Betting System
D’Alembert Betting System
Labouchere Betting System
At this point, it is recommendable to take your profits of £240 off the table because you have reached the maximum win limit you had set for yourself. But if your luck fails you prior to you reaching the win limit, you would be required to go back to your initial betting unit of £10 and start all over again.
Setting a maximum win limit is crucial as it serves to indicate at which stage of the game players need to collect their profits. Without one such limit, players are risking to let their winnings ride for too long and potentially lose everything without turning any profit whatsoever.
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Advantages of the Parlay Betting System
One of the biggest advantages of adopting the Parlay system in the game of roulette is its very simplicity. One is not required to be a rocket scientist in order to understand and master the system. Using it involves minimum decision making which renders it suitable for less experienced players.
Then again, using the Parlay involves less risk for players since their bets remain relatively small. This is so because they are using their winnings when they increase their bet size. Practically, the funds do not come from one’s bankroll because they continue betting with house money.
Also, using this system instils some degree of discipline in players since they are recommended to collect their profits as soon as their predetermined win limit is reached. Players need to decide at which point they should stop playing and leave with their profits intact. Often it is tempting to let your winnings ride, but it would be easier for you to leave the roulette table on profit when you have set a maximum win limit for yourself.
Last but not least, the Parlay is among the most flexible betting systems. While most systems are designed to be used predominantly on even-money bets, the Parlay can be applied to both outside and inside bets which have different payouts.
Disadvantages of the Parlay Betting System
Compared to some other betting systems, the Parlay has relatively few disadvantages. One of the biggest downsides of using it results from the fact that there is no guarantee of consecutive wins. In order to turn a substantial profit with the Parley, players are required to win quite a few times in a row.
The system is deemed unsuitable for long-term play since those who fail to control themselves while on a winning streak, risk losing all their profits. It is important to remember the casino’s built-in advantage remains the same regardless of which betting system players implement. Besides, using the Parlay system does not affect the outcome of each spin of the ball.