When placing bets, you have the option to choose between three distinct types: singles, parlays, and system bets.
1. Single Bets:
A single bet allows you to choose a specific market or event and place your bet on it. The calculation of your potential winnings is straightforward, involving your stake and the odds at the time of placing the bet. If your prediction turns out to be correct, you will receive the winnings based on the odds and the amount you wagered.
2. Parlay Bets:
A parlay bet, also known as an accumulator or combo bet, offers an exciting way to combine multiple selections into a single wager. In this type of bet, you select more than one outcome, and all of your chosen selections must be accurate for you to win the bet. The winnings in a parlay are determined by multiplying the individual odds of each selection together, along with your stake. Due to the cumulative nature of this bet, the potential payouts can be higher than those of single bets. However, keep in mind that if any of your selections are incorrect, the entire parlay bet will be lost.
3. System Bets:
System bets are more versatile and forgiving compared to parlay bets. They involve combining three or more markets, just like parlays. However, the significant difference lies in the fact that system bets can still win, even if not all selections are correct, depending on the chosen system type. When placing a system bet, you have the option to select a specific system, such as "Yankee" or others, on your betslip. The system you choose will determine the number of combinations formed from your selections. This means that even if some of your picks are incorrect, you can still win a portion of the bet, depending on the system and the correct selections you have made.
For example, if you opt for a "Yankee" system and have four selections on your betslip, your stake will be distributed among multiple bets covering various combinations of these selections. If at least two of your four selections are correct, you will win a portion of the bet, and your winnings will depend on the number of correct picks.
In summary, when placing bets, you can select between single bets for straightforward predictions, parlay bets for higher potential payouts but with all selections needing to be accurate, or system bets for a more flexible approach that allows some incorrect selections while still offering the chance to win. Consider your strategy, risk tolerance, and understanding of the events you're betting on before choosing the type of bet that suits you best.