Parlay Power Play

by Ed Meyer

posted on August 22, 2021 in General Discussion, Handicapping, Horse Racing, | Comments Off on Parlay Power Play

Tracks are so hesitant to try new things and it is up to the fans, management, and those who like to keep the game interesting. That’s it. Just keep it interesting and the rest will take care of itself.

Many moons ago we used to have a wager called the “parlay” and it had the ability to be a moneymaker, but as with everything. We lost the idea in the end game.

For years you’ve heard me speak of parlays. – Nice way to get involved and keep your budget in check. I spoke earlier of how Kentucky dropped the ball. The idea of a parlay is a very good thing. Players can walk in and make their own multi-race wagers. It can be a W-P-S parlay and players can decide what races they like. Just think, you’re creating your own pick-four, pick-six on the races you like. It can spread over a WPS wager that will carry over to the next race you choose to play.

How we dropped the ball.- We did not educate the players and they didn’t even know it’s there. I bet most didn’t have a clue, only a handful of bigger gamblers would make the wager:

  • Parlay betting allows horseplayers to bet the races they want, their way. Since your Parlay races don’t have to be consecutive on the card, you can identify the horses you want to bet no matter the race they’re in. Plus, you can alternate between Win, Place, and Show bets, so you can build your Parlay based on how strongly you feel about each horse.

Why should the track like the wager?- Gamblers can wager and watch, or make a bet and head back to the office. – With a win, place, and show parlay you can bet the #1 in the first race to place, and the #2 horse in the 4th to win. You have to win your first race and all of the money goes on the next selection. – You can even bet the first bet to show and your next wager is all to win. – You’re in charge and the best part the track should love is there is a separate takeout for each leg. For a pick-four wager, there is one takeout, but the parlay is series of takeouts for every race wagered. All you have to do is stay alive in your wagers and it all goes on the next wager. Interested yet?

The wager is a tote function and the rest is educating the players on how to make the bet. – I’ve played many in the past a made a $10 place parlay that after five races was over $400. Not bad, and I had the ability to call my own shots and pick my own races.

The parlay isn’t going to be a million-dollar payoff, but it allows bettors to play the races they like and try and maximize their bankroll. Take a look at how a parlay wager plays out:

Here’s a Parlay example? Let’s say you bet the following Parlay at Santa Anita:

$2 Parlay
Race 1 – Win #3
Race 2 – Place #1
Race 3 – Show #3, 5

If Horse #3 wins Race 1 and pays $5.60 for a $2 bet, your bet will automatically roll over to $5.60 to Place on horse #1 in Race 2. If the Place payout for your horse in Race 2 is $14.80, your bet will automatically roll to Race 3, where you’ll have an equal $7.40 Show bets on Horses #3 and #5. Since Race 3 is the last leg of your Parlay, your Parlay ‘winnings’ will be the result of those $7.40 Show bets.

Parlays can use any combination of Win, Place, Show, Win/Place/Show, Win/Place, Win/Show, and Place/Show bets. – Yes, you can use multiple horses in one (or more) legs of your parlay. – If all horses in the middle leg of your Parlay are scratched, that leg is treated as a refund and the total balance is carried over to the next leg. If all horses in the final leg of a Parlay are scratched, the bet pays out to your balance heading into the last leg. If you have multiple horses and just one scratches, your bet will automatically be redistributed between your ‘live’ runners.

We need to try and keep the game easy enough to play and be sure to have simple education for players to enjoy the wager. – Best of luck from Winning Ponies!