What is an Open Spots Parlay?
Open Spots Parlays are an advanced parlay betting option that allows bettors to place parlay bets with open spots that can be filled at a later time. This flexibility makes them a popular choice among experienced bettors who seek to maximize their betting strategy.
An Open Spots Parlay is a type of parlay bet where you select multiple bets, but leave one or more spots unfilled. These open wagers are parlay bets where you have the flexibility to fill the remaining spots later with new selections. The rest of the selections can be filled with games available to bet on as they are decided. This allows you to complete the parlay over time, rather than all at once.
Parlay Bets: Getting Started
Parlay bets are wagers where you select multiple bets, and all selections must win for the parlay to be successful. A typical parlay is originally placed with all the selections chosen at once. However, with Open Spots Parlays, you're allowed a maximum of 2 open spots, meaning you can place your initial bets and fill the remaining open spots later.
Parlay's original payout will depend on the Parlay odds of the selections made at the time the parlay is placed. If you have an open wager left unfilled, the payout will be adjusted based on the new selection once the open spot is filled.
It's important to understand the rules and restrictions associated with Open Spots Parlays. Not all betting markets may allow open spots, and the maximum number of open spots is usually capped at 2. Additionally, open wagers are not allowed on teasers, so you'll need to complete the parlay with straight bets.
Example 3 Team Parlay
Let's break down an example 3 team parlay to better understand how open spots work.
- Leg 1: Cowboys -8
- Leg 2: Dolphins +14
- Open Spot: Pending
In this example, the parlay bet is for $100 to win $600. The first two selections are made, and the third is left open. At a later time, when you're confident in another selection, you can fill the open spot with a new selection. Once the open spot is filled, the parlay is complete, and the payout will be based on the odds of all three selections.
If, for example, the third leg is filled with a team that has a moneyline of +200, the payout will be recalculated based on this new selection. It's important to note that if any of the previous legs lose, the entire parlay is graded as a loss, regardless of whether the open spot is filled.
Strategies for Using Open Spots
Using Open Spots Parlays requires a strategic approach. Here are some tips:
- Timing is Key: The primary advantage of an Open Spots Parlay is the ability to fill open spots with games that have favorable odds or situations. Timing your selections can lead to better payouts.
- Leverage Live Betting: Open Spots Parlays allow you to take advantage of live betting opportunities. For instance, if you notice that a team's odds have improved during a live game, you can fill the open spot with that team.
- Risk Management: By leaving an open spot, you can manage your risk better by only completing the parlay when you're confident in the next selection.
Placing an Open Spots Parlay Bet
Placing an Open Spots Parlay bet is straightforward but requires attention to detail:
- Select Your Initial Bets: Start by selecting the first few legs of your parlay.
- Leave Spots Open: Choose to leave up to 2 spots open. These open wagers are parlay bets that will be filled later.
- Fill the Open Spots: At a later time, you can fill the open spot with new selections as opportunities arise.
- Confirm Your Bet: Once all spots are filled, confirm your bet. The payout will be adjusted based on the odds at the time the open spot is filled.
- Monitor the Parlay: Keep an eye on the games which may affect your parlay. If any selection loses before the open spot is filled, the entire parlay is graded as a loss.
By understanding how Open Spots Parlays work, you can leverage this flexibility to improve your betting strategy, ultimately allowing you to complete bets where you select the best possible outcomes. If you're ever in doubt, don't hesitate to reach out to our support team using live chat for assistance.
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