Video Summary

A sports betting strategy that can lead to big payouts is parlay betting, also known as multi-betting. A parlay bet combines multiple individual bets into one, with each leg of the bet having its own odds. For example, if you want to bet on three basketball games, you can place a parlay bet that combines all three games into one, with the overall odds calculated by multiplying the individual game's odds. This can result in higher payouts, but it's also riskier, as if one of the legs loses, the entire parlay bet is lost.

To succeed with parlay betting, it's crucial to identify positive expected value (EV) bets, which offer odds higher than the fair odds. This can be done using sports betting odds comparison sites like OddsJam, which scans for positive EV opportunities across different sports books. In a hypothetical scenario, combining three coin flips with positive EV, the expected value of the parlay bet would be higher than the single bet, despite the reduced chance of winning.

In a real-life example, using OddsJam, a three-leg parlay bet with positive EV legs can result in a 12.41 expected value, much higher than the single bet's 5.43 expected value. However, it's essential to note that the risk is higher, and it's critical to ensure that each individual leg has positive EV. Otherwise, the strategy won't work, and you'll end up losing more money than if you just placed single bets.