A STORY ABOUT PARLAYS
by Sawyer
Jack was a teen-ager and he was in love with sports betting. He was a big fan of parlays, always playing 5-6 game parlay tickets.
One day, Jack's father found some betting tickets in his room. Jack's father was not a conservative man and he had been in Vegas recently. He was an experienced man about sports betting.
When Jack is back from school, Jack's father asked him.
- Hi son. I found some betting tickets in your room. You're betting?
- Uh, Yes. Err.. You don't want me to gamble?
- No, no. I'm not against gambling. I just want to make a deal with you.
- Deal? What's that?
- Don't place your bets at sportsbook. I'll be your bookie. If you win, I'll pay you. Deal?
It was a strange deal. Jack's mind confused. It sounds a good deal after all because it wasn't easy for him to go local sportsbook (very far) every day but why his father was coming up with an offer like this?
"Also, I'll give you 100$ free bet for start" his fathed said. It was an amazing bonus for his son. Jack said "Yes!" and he started to place his wagers by his father.
First day was a great day! Jack was the winner with a 4-game parlay. Unfortunately, Ladyluck was not a faithful lover..
Days after days..
Jack was losing most of his parlay tickets by only 1 game. It was happening very often!
He was placing his wagers by his father..
2 Weeks later..
Jack won another parlay but his bankroll was in negative. Can't tell you how much money he was missing by only 1 game. He was going 4-1 (%80), 5-1 (%83.3) but he was not making any money because he was playing parlays.
After 3 weeks, Jack was broke. He lost all his money. His father asked him, "Son, No bets tonight?"
Jack said he lost all his money. His father replied: "Come with me."
- Please open the drawer, son.
- What's that?
Jack opened the drawer, his eyes were flashing! Lots of money inside the drawer..
- What's that money dad?
- It's yours son..
- But how?
- This is the money you wagered on your parlay tickets.
Lesson was learned..
Then his father gave 300$ to his son. "What's that?" Jack asked surprisingly. "It's your salary for this month, son. You made me lots of money" said his father.
His father was placing Jack's all picks single. So he ended up in profit. When Jack went 4-1, his parlay bet was lost but Jack's father was making a nice profit.
Jack's father asked Jack to examine all his parlay tickets.
New York -4 Winner
Utah Jazz +3 Winner
Dallas Mavs -7 Lost
It was a losing ticket. However, his father was a winner because he was placing all wagers straight.
Lesson was learned. Jack quit parlays forever and stick with straight bets.
Think twice before playing a parlay bet next time..
Take care!
Sawyer