Parlay a special kind of bet with high return

| June 2, 2021

A parlay is a multi-bet in which you attempt to select the winners of multiple races, re-investing the winnings each time. Also known as an All-Up bet it can lead to monstrous dividends, especially for longer winning sequences. One of our village forum members explains;

Ever had a “parlay”? It’s a special kind of bet at the TAB.

While limiting your risk to as little as one dollar, you might – very might! – become rich.

Six consecutive races is the limit for this type of bet — for we’re not talking two to one on. The reinsurers, firms like Lloyds of London, mightn’t want to assume such an open-ended risk. Like Russian Roulette.

So this isn’t your boring old 5 per cent per annum “super” that’s not so super. This is a million per cent. On a good day anyway.

In former times to “parlay” – that is, reinvest winnings, you needed to stay for the duration of the meeting. The computerised Parlay now allows you to select them all in advance and leave like buying a lottery ticket.

What lottery gives you a chance to win a million and play every day yet limit your risk to a dollar? Only places like crazyvegas can give players that sort of chance.

Tomorrow (22nd May, 2021) they’re racing at Flemington.

Suppose you’ve selected in the first race Standoff. That’s quite apt. Standing off and standing back is what we’re doing, we’re engaging in a standoff, while we weigh things up.

You’ve picked an outsider fetching the fetching odds of 40/1.

Or as they say in racing these days $41 (profit plus return of amount wagered).

The chances of winning are about a two hundred to one against if you chose favourites and upward of a hundred million against if you choose six Mr Ed’s as per the following example.

  • R1 No.11 Standoff 40/1 => $40
  • R2 No.7 Gold Fields 20/1 => $400
  • R3 No.6 Mighty Whirlwind 100/1 => $40,000
  • R4 No.5 Moonlight Maid 5/1 => $200,000
  • R5 No.4 Whipcracker Way 10/1 => $2M
  • R6 No.8 Dickin Medal 5/1 => $10M.

NB: Only a sample and not to be construed as any kind of support for these horses.

$10 million from just a dollar outlay. That’s better than your average day at the coalface.

Let’s have another go with the last six races and see if we conjure ourselves a nice little fantasy.

  • R4 No.7 Sign Seal Deliver 20/1 => $20
  • R5 No.14 Amercement 30/1 => $600
  • R6 No.12 Estoril Park 20/1 => $12,000
  • R7 No.13 Handful 50/1 => $600,000
  • R8 No.15 Irish Songs 80/1 => $48M
  • R9 No.10 Legionaire 20/1 = $960M.

A billion dollars from one dollar in one day. That puts a whole new spin on “another day another dollar.” In countries outside of Australia, it would be like playing online casinos real money.

Has it ever happened? An accredited journalist might ask the people at the TAB. What’s been the record payout? Be interesting to see if the winners have given it all back or found a more worthy cause. Before the riches ruined their life!

Trust you don’t think this punter is luring you into sin. He’d be happier enticing you into joining him at the Happy Losers Association. Not many members at this stage. Not since Sad Sam forgot to give us his new address. Anyway people have been taught by grouches not to want to belong to a club that would have even a loser like them for a member.

What do we losers do when we get together. We pool our foolishness and keep our chins up. We have a clean record as far as preventing suicides. We throw a party every other day and another shrimp on the barbie. We do play readings like Hamlet. We exchange outside information. We ruminate on ruminants and if the weather gets too bad, and looks like becoming, as some wag (was it Alan Jones or Rowan Dean?) “the winter of our discount tent,” our thoughts turn to Birdsville. Literally!

Happy punting and happy camping.

Regards, eggadaycookedthanks

Category: Betting

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