NHL Parlay Betting

There is no shortage of variety when it comes to the choice of bets you could go for if you wish to wager on NHL matches. NHL events are covered quite thoroughly at sportsbooks, and moneyline, puck line, and over/under bets are among the markets hockey fans can enjoy. Although placing such bets as singles can be very fun, combining them into what is known in the betting world as parlays can be exciting and result in very lucrative payouts if you are lucky. This is an option available at pretty much every online sportsbook, so be on the lookout for betslips that allow you to place accumulators, multis, or accas, all of which are terms that also describe parlays. As for the individual bets that are part of a parlay, they are typically called legs or selections.

How NHL Parlays Work Ties and Parlay Bets Same-Game Parlays How to Reduce the Risks Round-Robins Pros and Cons When to Place NHL Parlays How to Place NHL Parlay Bets Conclusion

An accumulator is two or more bets combined into one, and since the odds are multiplied, the money you could win by placing such a bet is pretty substantial. The risk involved is also significant, however, seeing as winning requires not losing even a single one of the selections that make up the acca. Moreover, different bookies will have different rules regarding which bets are removed from the bet or seen as a loss when it comes to ties. This is why it is best to be careful, and you should always read each sportsbook’s terms and conditions very thoroughly, as some of the specific rules regarding parlays will vary from bookie to bookie.

How NHL Parlays Work

Accumulators can be a bit of an enigma to those who are new to sports betting since, at first, the payout might seem suspiciously high. After all, the combination of several straight bets’ payouts will always be lower than the equivalent parlay. The reason behind this is that accas are calculated differently, and individual selections affect the rest of the legs. Basically, each bet’s stake is the payout of the previous leg, with the exception of the very first one, of course. The following example is a multi-game parlay consisting of NHL moneyline selections:

As seen above, the New York Rangers’ payout is $32, which then becomes the stake for the Calgary Flames, and this continues until we reach the final payout of $297.96. Another way to look at it is that the sportsbook multiplies the odds by one another until the total odds are 29.796, which gives us the same $297.96 result. Either way, this interconnection between the legs shows why parlays fail if even a single selection does not win.

You can also observe that this parlay is referred to as a four-fold, and that is because there are four selections included. Bets containing two and three legs are referred to as doubles and trebles, respectively, while anything above trebles uses the same structure as four-folds, such as five-folds, six-folds, and so on.

Ties and Parlay Bets

Although not every sportsbook offers this wager variation, it is possible for an NHL bet to end in a draw if the wager in question is restricted to the first 60 minutes of a match. If a bet in your parlay does result in a push, it will, typically, not cost you the entire acca. Instead, the bet will be removed from your acca, or its odds will be converted to 1.00. Either way, it will no longer affect any of the other selections, as we can see in the following example:

Since the push is, for all intents and purposes, no longer part of the accumulator, the third selection is using leg 1’s payout to reach the final $46.8 payout. Something similar happens with canceled bets, as they, too, stop affecting the rest of the selections once they have been made void.

Although this is how sportsbooks typically treat draws and voided bets, do remember to check your bookie’s rules and its Terms and Conditions. Some sportsbooks may take a different approach to such situations and count ties as losses.

Same-Game Parlays

Although multi-game accas are, by far, the most common and preferred way to place a parlay bet, certain bookmakers will also allow you to combine bets from the same game. Single-game accumulators used to be pretty scarce availability-wise, but they have been gaining traction in recent years. NHL punters, too, can place same-game parlays if they happen to have an account at a sportsbook that supports this type of betting.

In terms of advantages over your run-of-the-mill accumulators, a lot of punters enjoy the fact that it does not take long to see the results of a single-game acca. Typically, you would need to wait until the second game has ended to see the results, and that is provided you only made a double parlay. In addition, bets that appeal to you might not always belong to matches scheduled on the same day, which can also make the wait longer.

Some single-game accas are a bit less risky due to something called bet correlation. This refers to situations where the success of one wager increases the chances of another bet winning, and in theory, this should make for excellent accumulators. On the one hand, such parlays can be great for bettors who wish to be on the safer side. On the other hand, there is a catch involved. Namely, the vigorish of these bets is larger, so the payouts will be less impressive in general. Certain punters should, thus, avoid these bets if they find the high-risk, high-reward aspect of ordinary accas to be the better option. Additionally, few bookies allow for same-game parlays at the time of writing, so even if you do wish to try them out, it might prove to be difficult.

How to Reduce the Risks

One of the defining aspects of regular parlay betting is the fact that it is very difficult to win, especially if you love to place accas with many legs. All it takes is a single loss, and the entire parlay is gone. This feeling can be very unpleasant for most punters, which is why sportsbooks have come up with a couple of ways to mitigate this problem.

1. One such feature is named early cash out. It is not exclusive to accumulators, and it can work for a variety of bets, but parlay punters frequent this feature quite a lot. Early cash out allows you to close your bet before it has settled. In the context of accas, you could, for example, accept cashing in your profits if you win 7 out of 10 selections of an accumulator. You will win less money than you would have gotten from a successful ten-leg acca, but you will remove the risk of losing all of the so far accumulated winnings.
2. Parlay Insurance is another way to minimize the risks, although it works differently. This feature dictates that should one of your legs lose, but the rest end in a win, you will receive a refund. In some cases, your entire stake could be returned to you, but this is reliant on the insurance’s limit at your sportsbook. Additionally, the refund in question can be in the form of cashback or a free bet. The first option is seen as superior because if you go with the free bet and win, the stake will not be included in your winnings. This is why it is, as always, imperative that you make a habit of reading the Terms and Conditions of parlay insurance at each sports betting website you wager on.
3. Progressive parlays are also an option. This is an acca variation where, depending on the number of bets you included in your multi, one to three of your legs could lose without ruining the entire accumulator. In fact, you could win back your entire stake and maybe even make a profit. This bet is not strictly superior to regular accas in certain situations, however. Namely, ties here are typically regarded as a loss, so progressive parlays are unappealing to some bettors.

Round-Robins

We have established that accumulators are a combination of multiple bets wagered as one. It is possible to take something like this a step further and combine a series of parlays with one another or with single bets, and this is what we call round-robins. Also known as system bets, they can be safer than traditional accas since even if one selection fails, the round-robin will still be paid out. This added safety does typically result in larger stakes since whatever bet you place must be multiplied by the number of bets made. System bets are categorized based on the number of selections and bet combinations involved.

Trixies and Patents

A Trixie is a combination of three two-fold parlays and one treble. To further understand how this works and why you can incur one loss without the rest of your bets being ruined, we will take a look at the following Trixie, which contains three individual selections from three matches:

In total, this bet contains only three selections, but we are wagering on several accumulators based on these very legs. As we established earlier, round-robins do not require every single selection to win for a system bet to be considered successful, and one loss is allowed. For instance, if the Calgary Flames were to lose, this means that the first and third parlay from the above table will win.

Apart from the regular Trixie, there is also an each-way variation called a patent bet. Essentially, it is no different from a Trixie as, again, there are three selections to work with, except this round-robin contains straight bets. You will also receive some amount of return even if not all selections come through, although here, two losses are allowed. Do keep in mind, however, that your winnings from a patent with a single successful leg will typically not cover your initial stake.

Yankees and the Lucky 15

Yankees are yet another round-robin variation, and they ultimately differ from Trixies since there are four selections involved as opposed to three. This results in eleven bets, which are organized into six doubles, four trebles, and one four-fold. Below, we can see what a typical Yankee would look like at a sportsbook.

Once again, just two selections winning will be enough to generate a return from these bets. Even though you will rarely win back your stake by winning just two legs, it is a return nonetheless, which is more than can be said about individual parlays. You should also remember that the more bets you pick, the more money you will need to wager.

The stake will increase further if you opt for wagering on a Lucky 15 instead of a Yankee. The Lucky 15 involves fifteen bets, as its name implies. Here, we also include the singles as demonstrated below:

Large Round-Robins

As we have seen thus far, system bets can contain a big number of bets even if the initial selections are relatively few. This is not just limited to Trixies and Yankees and their each-way variations, as system bets can be even larger.

1. The Canadian, for instance, is a round-robin with five selections. This means that there are 26 bets involved in total, categorized into ten doubles, ten trebles, five four-fold accas, and one five-fold parlay. The Lucky 31 requires you to wager even more legs, as suggested by the terminology, since, once again, this is a variation of a round-robin containing the respective singles as well.
2. Next is the Heinz bet, for which we pick six legs. This further increases the bets involved, this time reaching 57 wagers in total. In other words, you will need to place fifteen doubles, twenty trebles, fifteen four-folds, six five-folds, and a single six-fold parlay. You could also opt for the Lucky 64, which, again, is a bet which also includes the straights. Going further still, a Super Heinz containing seven selections is yet another option, and here we have a whopping 120 bets.
3. Last but certainly not least, we will cover the Goliath, which is one of the largest round-robins you could come across. With 28 double parlays, 56 trebles, 70 four-folds, 56 five-folds, 28 six-folds, 8 seven-folds, and a single eight-fold, it is easy to imagine that the stake involved will be more than impressive.

Before you decide to try these types of bets, make sure to carefully consider the size of the stakes involved. The last system bet we focused on, the Goliath, contains a total of 247 bets, which means you will need to multiply your individual bet stake by that number. Thus, even a humble $5 per bet will turn into $1,235 when it comes to the Goliath. Although you are likely to receive at least some of your funds back by the end of the eight matches, this is still a significant amount of money, and deciding on whether you should place such a bet must not be done in haste.

NHL Parlay Betting Pros and Cons

First and foremost, the potential payouts are very tempting. The way the stakes are calculated ensures that the final payout can vastly exceed the money you had put at stake, even if the odds were not all that amazing on their own. In addition, no one can deny just how exciting parlay bets can be. The potential for landing an incredibly high win, along with the anticipation as each game draws near, can be an exhilarating experience. This is why many punters opt for placing a small stake, even if they know the risks.

As for the drawbacks of placing acca bets, the very same risk can be a problem for many bettors. While the stakes will often be fairly low, this does not change the fact that the smaller chance of winning can be unappealing. In addition, parlay bets do not offer great value since the house edge is fairly big. This is why cautious individuals and bettors known as sharp punters tend to stay away from parlay bets. The only time most professionals place accumulators is when they are protecting their accounts from being gubbed, and that is about it.

When to Place NHL Parlays

Ultimately, your main goal as an NHL punter is what your parlay decisions will rely on. If you simply enjoy the thrill of betting, for instance, large parlays can be an excellent choice, provided you wager responsibly. Accas can be very exciting, as we have already established, and anticipating a potentially massive payout can make NHL matches all the more fun to watch. Placing accumulator bets or round-robins during live hockey matches can also be very enjoyable for thrill-seeking punters.

If this is not your approach to wagering, however, then picking the right time to place a parlay is not too different from how you would proceed with your run-of-the-mill single bets if you are risk-averse and winning is your aim.

Firstly, you will need to do a lot of research to get a hold of useful information and statistics pertaining to the events you wish to wager on. This is one of the main reasons sticking to doubles and trebles is recommended, apart from the fact that the larger the parlay, the more potential for a loss you introduce.

If you wish to make these bets a bit safer, there are several routes you could take. Namely, bet insurance will be one of your main tools when it is available, and cashing out early is also a possible option on occasion. Both are suitable for punters who prefer to take an approach that involves a smaller amount of risk. Unfortunately, progressive parlays will not be an option unless you decide to go for accumulators with more selections.

Last but not least, it is better for sharp punters to avoid parlay bets and round-robins with one very important exception. Basically, you could make such bets not with the intent to win, but instead, place them to hide that you are a professional. These wager variations are a very effective tool to cover your tracks, so they are worth considering.

How to Place NHL Parlay Bets

Making a parlay bet is a straightforward process, all in all. The first thing you should do is check if you are eligible for a parlay-related promotion that also allows you to use NHL bets for the bonus, because this can be an excellent start of your wagering journey. If you do find such an offer, read the rules and requirements very thoroughly before proceeding. Either way, these are the steps you need to take to make an acca bet:

1. Create an account at a sportsbook. It is best you pick a reputable sports betting website that can be trusted with your time and money. Once you have decided on a bookmaker to stick with, you can deposit money into your account so that you have funds to wager with. You can now pay a visit to the bookie’s NHL markets, and you can then pick the bets to wager on.
   
2. Sportsbooks tend to add your wagers to the bet slip automatically when you click on them. You can do this for just one bet, but in this case, you need to pick several selections, after which you will be given several options to choose from. A typical sportsbook will first show you the option to place single bets.
   
3. You will also be given the opportunity to combine your bets into doubles, trebles, or larger parlays depending on the number of legs you have selected. Here, we went with three selections and decided to wager $5 on three double parlays, totaling our stake to $15, and our potential payout is around $55.
   

Once you finish placing the bet, this is pretty much the process you will follow each time you decide to make a parlay. As you can see, it is fairly simple, and most sportsbooks have made sure to make placing parlays as streamlined and easy as possible.

Conclusion

Wagering on the NHL can be its own rollercoaster of emotions. NHL hockey is a low-scoring sport where each and every goal is all the more significant, and its dangerous and fast-paced nature further proves to make matches very intense and exciting.

Thankfully, there is no shortage of bets you can place on NHL games, but if you are seeking to make wagering on matches more thrilling, you can give accumulator bets a try. They are some of the most difficult wagers to win at sportsbooks, if you decide to go for many legs, that is, but they also compensate for this by offering lottery-like payouts that are difficult to find outside of parlays. Of course, if you are curious but also do not wish to go with bets that carry a bit too much risk, low-leg parlays are an option. You can minimize the risk even further with features such as parlay insurance and progressive parlays, but do keep in mind that in such situations, you trade the amount of your potential payout for safety.