BTSC Bookie: Parlay betting for the NFL Week 7 games

It is time for the Week 7 installment of BTSC Bookie! This is a chance for the BTSC community to collectively choose games in which to place an imaginary wager of “BTSC Bucks.” Each week I will remind everyone of the rules and explain an aspect of betting in order to further educate those interested about the process.

Before I get into the procedure of things, I want to remind everyone that gambling addiction is a serous problem numerous people face. Like many things in life, gambling can be a fun and safe exercise if done in moderation, while obsessive gambling can have destructive and life-altering consequences. If you or anyone you know is suffering from a gambling addiction, help is available HERE.

The Process

• We will start with $500 in BTSC Bucks for the season. If we bust, we may borrow from the BTSC Bookie, but will have to pay 20% interest each week it isn’t paid. It’s a steep price, but there are consequences to failure.
• All games this week will be betting against the spread with commision.
• There will be 10 betting lines for users to place a vote. The values are as of Tuesday evening and they are locked in throughout the voting. The polls will run until Saturday night at 11:59 PM and the top three results will have wagers placed: $100 for the top choice, $50 for the second choice, and $25 for the third, which will be a 3-game parlay bet this week.
• A write-in campaign can be staged for voting. If any comment in the weekly article brings up a different game in the comments to make the wager and can receive enough recommendations to place it in the top three vote-wise, it will be calculated accordingly. I know it’s highly unlikely for a comment to receive that many recommendations, but if it does it will count.
• Thursday games will not be included due to obvious time constraints.
• Some games may have the two opposing lines as an option. If so, only the higher vote-getter will be eligible for the wager.
• Betting both for and against the Steelers is usually an option, but since they are on bye they obviously can’t be a choice.

Last Week’s Wager

For Week 6, we had some very unusual results. The majority of the users voted for the Houston Texans and Kansas City Chiefs to go OVER the 55 point total. With the final score being in 31-24 in favor of the Texans, it ended up being a push and our $100 goes back into the pot. Ironically, the second highest voter getter was the Steelers and the Chargers to go OVER the point total of 41. With a 24-17 win for the Steelers, it was the second time the Steelers had a push in the over/under this season, and only the third game total for 2019.

As for the final game, the $25 wager went on the on the Cincinnati Bengals and Baltiore Ravens to go UNDER a total of 48 points. The final score of 23-17 gave us a win and a payout of $47.73. Since our top two choices were both pushes, we earned a $22.73 profit across all three games

Week 5 Balance: $755.78

Week 6 Net Gain/Loss: +$22.73

Week 6 Total: $778.51

Placing a Parlay Bet

If you are interested to turning a small wager into a big payout, on option is to place a parlay bet on multiple games in which all games need to be in your favor in order to win. To better understand, here is a rundown on parlay betting according to Odsshark.com.

Parlay Gambling and Odds Explanation

A parlay bet is one of the most popular forms of sports wagering. With parlays, bettors can bet on two or more point spreads, OVER/UNDERs or moneylines, earning a higher payout if all their picks win than they would have betting on each one individually.

How do Parlays Work?

A parlay is a wager that combines multiple bets on one ticket. Usually, you would pool straight-up bets with spreads and totals. However, you can have multiple versions of the same bet as long as it’s on different games. If even one bet in your parlay is a loss, your entire parlay loses. You can make NFL parlays or combine different bets from various sports. For example, you could make a straight-up bet on a baseball game, coupled with a basketball point spread.

Understanding Parlay Odds

At your sportsbook of choice, parlays may be called accumulators, combo bets or multi wagers. Let’s say you’re looking at three separate football games. The odds for a three-team parlay would look something like this:

NFL Parlay Ticket

Teams Type of Bet Odds
Saints vs Rams Spread New Orleans -3.5 / Los Angeles +3.5
Patriots vs Jets Moneyline New England -180 / New York +160
Chiefs vs Ravens Totals OVER 47.5 / UNDER 47.5

Now, you would decide which side of each bet to take. For the first bet, let’s pretend that you’re taking the Saints to cover since they have a history of working well against the spread (ATS). For the second bet, you figure the Pats are going to annihilate the Jets so you pick Tom Brady’s crew to win the game straight up. Finally, for the third bet you believe the total number of points scored will be at least 48 so you take the OVER.

As you can see from the above example, the odds for each game would appear the same as they would if you were betting individually. However, the odds for the entire parlay would be +600 (6-1) since you have a 50-50 chance of winning each bet (3 bets x 2 = 6).

If you were to bet $100 on the entire parlay bet, you’d get a payout of $700 – your original $100 comes back along with your winnings of $600. You can use our Odds Calculator to see how much you’d win based on the odds and amount bet. We also have a Parlay Calculator where you can input up to 100 bets. We do, however, recommend keeping your parlays to 10 and under since most betting sites will not allow you to make more than a 10-team parlay.

What happens if One of Your Bets PUSHES?

A PUSH occurs when the spread or totals bet you make hits the exact number set by oddsmakers. Using the same example from above, let’s pretend the totals number was 47 instead of 47.5. If the collective score for both teams was 47 on the nose, you would get your money back since neither the OVER nor UNDER won or lost. This bet would be removed from your parlay as if it never happened. You would still need to win the other bets on your parlay card in order to receive a payout. But, it’s nice to know that sportsbooks will take the PUSH off your ticket.

Parlay Betting Tips

Sportsbooks love parlays because they force bettors to be perfect, which can be hard to do. But, that doesn’t mean you should avoid parlays altogether. Before placing your bet, handicap each game you want to include in your parlay picks. Winning a parlay can be tricky if you don’t do your due diligence. However, we at Odds Shark offer the necessary handicapping tools to ensure you have everything at your disposal to make smart bets.

Besides researching each bet, keep an eye on your bankroll. Although parlays do offer a larger payout, you still want to ensure you have enough in the tank to keep betting. When you make your deposit, it’s important to remember that if you lose even one bet on your card, it’s basically like all the bets in your parlay lose. Moreover, if you have spreads and totals on your card, you’re looking at more than just teams winning, so be mindful of team reports and betting trends.

Week 7 Options

Here are the options chosen for the Week 7 betting exercise. Make sure you cast your vote in the poll. If you want to play your own game, leave your choices in the comments below and keep track of your total throughout the season.

For this week, payouts are listed in parenthesis, most of which are -110. As stated earlier, only one choice per game will have a wager. Since the payouts for parlay bets can be a little tricky, we’re sticking to just games against the spread this time. We will place out regular $100 and $50 on the top two vote-getters, but the third place choice will be the third game included in a $25 parlay bet of all the top three. If all three choices have a payout of -110, the $25 parlay bet would give us $173.95. If you wish to vote for more than one, clear your “cookies” on your browser and vote again.