HAPPY BREEDERS' CUP WEEK EVERYONE!
EXCITEMENT IS IN THE AIR AS THE BREEDERS' CUP WEEKEND IS ALMOST HERE!
It looks to be a very good betting weekend with lots of betting opportunities.
Good betting opportunities like this weekend you need to use betting strategies in order to be effective in these high quality races, and one of the most effective betting strategies is called "parlay betting".
I'm going to layout the description of the "parlay betting" strategy so that you can use it this weekend or check out my picks [in a seperate post] that I incorporate using this same betting strategy.
Parlay Betting Strategy
Here is a very good betting strategy that is suitable for certain situations.
The strategy is called parlay betting.
This strategy is suitable for certain situations only.
The word parlay means continuously, and in this case, betting race after race continuously.
But for this betting strategy, we do not keep betting race after race continuously non-stop.
We bet only on three races continuously and that is all.
The three races are called legs: 1st leg, 2nd leg, and 3rd leg.
The three races are chosen by you -- the horse player.
You choose which three races to play as your parlay play.
Do not choose more than three races.
The idea of a "parlay" betting is to build up and accumulate as much money as we can in the first two legs so that we can use all of the money generated from those two legs -- 1st leg and 2nd leg -- to bet on the last leg, third leg.
For example, if you bet $10 to win, place, show on a horse in the 1st leg and generated a return of more or less than the original bet amount ($30), you have to put all of that return amount in the 2nd leg.
This is called "parlay betting".
Again, the idea is to build up and accumulate as much money as we can in the first two legs so that we can use all of that money to bet in the last leg, third leg, since the last leg is a (cinch) bread-and-butter leg -- meaning, the horse in the last leg is a short-price favorite and is likely to win the race.
Since the last leg contains a cinch horse -- why not put all of the accumulated money on this horse?
So it makes sense to put all of the accumulated money on the last leg: third leg.
This three-leg betting is called "parlay betting".
To use parlay betting strategy, use the following criteria:
1. Handicapping.
This is where your handicapping skills take over.
You have to be able to handicap races on your own.
This angle won't show you how to come up with the races to play parlay.
You have to be able to come up on your own with the races to play parlay.
If you cannot come up with the races, stop!
Don't play the parlay -- pass up the parlay strategy and sit on the sideline!
2. You must choose three races of your choice.
Choose three races from tracks of your preference and desire.
It can be one race from one racetrack and another from another racetrack and another race from another racetrack -- or the three races can be from a single racetrack.
It's your choice to choose which three races from which racetracks available to you to play.
It doesn't matter which three races you choose as long as you like them.
Again, this is where your handicapping skills take over.
3. 3rd Leg: The horse must be a very heavy favorite -- a sort of a cinch that is very likely to win the race.
We only want to put all of our winnings up to this point (3rd leg) on a horse that is likely to win the race; hence, a cinch.
This means that when you're handicapping the races, first look for the 3rd leg horse first and then look for the other two legs that come before the 3rd leg.
Again, you must like the two races that go off before the 3rd leg because that is the only way to play the parlay betting strategy.
If you found the 3rd leg horse but you can't seem to find good horses to bet that go off before the 3rd leg, don't play the parlay -- pass up the parlay strategy and sit on the sideline!
4. Don't force yourself to play the parlay even if you found a good third leg horse but found the preceding legs horses a little shaky.
Again, you have to like all three horses, especially the 3rd leg horse.
5. Bet to win, place, or show only -- no exotic bets.
This means that you can choose to bet on any leg (or all legs) WIN, PLACE, or SHOW only, including the 3rd leg horse.
For example, bet $10 to win on the 1st leg; bet to win on the 2nd leg; and bet to win on the 3rd leg horse.
Or bet $10 to win, place, show on the 1st leg; bet to place on the 2nd leg; and bet to win on the 3rd leg horse.
Or bet $10 to win, place, show on the 1st leg; bet to place and show on the 2nd leg; and bet to win on the 3rd leg horse.
Or bet $10 to win, place, show on the 1st leg; bet to show on the 2nd leg; and bet to win on the 3rd leg horse.
6. Again, you have to feel comfortable betting on all three horses and bet them accordingly -- meaning how much amount of money to win, place, or show in any of the leg are based on your comfort level.
7. The amount of money to win, place, or show in any of the leg don't have to be equivalent to one another.
Two other very good betting strategies are double down and triple down betting strategies.
So make sure to use those two betting strategies in conjunction with parlay betting strategy.
Hint On Handicapping
1. Look for the 3rd Leg horse first and then look for the other preceding legs horses.
2. The 3rd Leg horse must be a very heavy favorite -- a sort of a cinch that is very likely to win the race.
3. Morning Line Odd On 3rd Leg Horse: The morning line odd on the third leg horse must indicate that the horse is the favorite in today's race.
A 6/5 or less in the morning line odd is a good start of your handicapping process.
4. Again, this is where your handicapping skills take over.
What happens if you lose the first leg and there is no money left in the parlay bankroll ?
Just like any other betting you don't stop betting just because you lose one bet -- you put up more money on the second leg and continue the parlay process as if nothing bad had happened.
What happens if you lose the second leg and there is no money left in the parlay bankroll ?
Again, just like any other betting you don't stop betting just because you lose one or two bets -- you put up more money on the third and last leg and continue the parlay process as if nothing bad had happened.
The third leg is the bread-and-butter leg and you should put up more money on this leg to make it worthwhile and justified playing parlay betting strategy.
EXCITEMENT IS IN THE AIR FOR THIS WEEKEND!
IF YOU HAVE A GROUP THAT'S EVEN MORE EXTRA EXCITEMENT!!!
Group Betting Strategy for Fun and Profit
Parlay betting strategy is a very good betting strategy for large and small groups, particularly large groups where you have a diverse of opinions on horse picks and handicapping expertise.
On special days (or events) like the Triple Crown (the Derby, Preakness, Belmont) or the Breeders' Cup, there are so many good races all over the country to be had for fun and profit for your groups.
Using the parlay betting strategy your group can devise a plan for your group to have fun and profit for the whole day.
1. As a group:
Have your group come up with one or more 3rd leg horses.
This 3rd leg must be later in the card so to make room for the 1st and 2nd legs.
2. The 3rd-leg horse(s) must be short-price favorite, "cinch" horse(s) -- horses that are likely to win the race.
A 6/5 or less in the morning line odd is a good start of your handicapping process.
3. Have your group come up with one or more 1st and 2nd leg horses.
4. Again, this is where your handicapping skills take over.
5. Have your group put to vote and decide which 3rd leg horses to use, if more than one horse. If more than one horse, your group can decide to have more than one parlay set -- up to 3 parlays.
6. No more than three parlay sets per day.
7. Pool the money to bankroll your group's expenditure for the day.
This pooled money will be your playing bankroll and entertainment expenditure (i.e., food and beverages) for the day.
8. Plan and budget your pool money accordingly by putting 20% of the pool money toward food and beverages.
9. Divide the remaining 80% of the pool money toward the parlay plays, accordingly.
10. For examples:
(a) If you have only one parlay, put all of the remaining 80% of pool money toward one parlay play.
(b) If you have two parlays, divide the remaining 80% of pool money by 2 and allocate the amounts accordingly toward the two parlays.
In other words, both parlays should have equal amount to play.
(c) If you have three parlays, divide the remaining 80% of pool money by 3 and allocate the amounts accordingly toward the three parlays.
In other words, each of the three parlays should have equal amount to play.
11. Have fun!
(Who says horse racing isn't fun? It is even more fun if you have a large group with a diverse of opinions and handicapping expertise.)
ENJOY THE BREEDERS' CUP THIS WEEKEND EVERYONE!
