Celebrity handicapper Steve Stevens from CNBC’s original series “Money Talks” provides simple explanations of sports betting terminology. Today’s topic: What is a parlay?
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Darin Notaro aka Steve Stevens aka The Bookie Killa is a sports betting consultant in Las Vegas.
Steve Stevens was featured on a tv show called Money Talks where you followed his time spent managing a sales floor and clients. He advises his clients on what teams to bet on. In the notoriously difficult world of sports betting, Steve claims to rise above all.
The main criticism I have with the show and the “success” he has with clients is that he’s highlighting the Martingale System which will not work long term for someone placing sports bets in Las Vegas.
The problem with the Martingale System is that the sportsbooks will set limits on how much you can gamble. Generally it’s around k to k per game if you’re a square and maybe k if you’re a sharp. The books saw the client with Steve and went “up the limits, we want to take his money.” This show was staged to make it seem like Steve is an expert handicapper.
A lot of amateur gamblers put their trust in touts. It’s just like people buying courses from fake gurus thinking they’ll start earning 0k a year right after completing the course. Invest in this confident expert and they will deliver you the secrets to wealth. With sports gambling, you can make insane amounts of money in a short period of time. You think the home team will cover the spread, bet ,000 to win ,000. Three hours later with a winner and you nearly doubled your money.
The Martingale System is the bullet proof formula to winning millions in sports gambling. It is a guarantee that you will win with this system. The strategy is to double down after every loss. At some point, you will win and walk away with profit. Why doesn’t everyone implement this strategy? Because the sports books will place limits on how much you can gamble on a single game.
At some point, a handicapper will lose 5 in a row. It’s inevitable. The amount needed to cover your losses will become too great and you won’t be able to place a large enough bet for the 6th double down because the books won’t take the bet. So you’re stuck with doubling down 5 times and holding exponential losses. You can’t win enough long term to cover those losing streaks.
If you come across sports gambling touts, please remember this. The world’s best at handicapping lines win at a roughly 55-58% rate long term. No exceptions. Anyone claiming a higher rate than this either did it in a single weekend by pure luck, are lying, or they are betting massive favorites. You may be saying okay Spencer they’re still winning aren’t they?
The sportsbooks are so polished by now that their lines are built to win long term. You will lose long term if you are betting heavy favorites moneyline. These lines are for squares because they seem so easy, just pick the team that’s guaranteed to win. The problem is that the one or two times out of ten that the heavy favorite does lose, the losses are greater than the combined wins. These billion dollar casinos full of incredible sportsbooks don’t get built from winners.
2 team parlays are the best parlays you can bet because it is less games than 3. In NFL 3-0 against the regular spread is extremely hard and noone wins more than 3 times a year doing that. I won't bet on the regular spread unless it is less than 3 and a half in NFL. College is different bc there are many blowouts so the spread doesn't come into play most of the time.
I am done with the NBA and NHL. Especially if i don't win with the islanders or knights.
I hope you guys didn't lose too much on the NBA and NHL recently. The Sixers and the Jazz were obvious locks that both LOST on the money line and the regular spread. NBA is not worth betting. I was serious when I told you that 1 year ago. Without a guy like Jordan in the League or Kobe, none of the teams are alot better than the other teams in NBA.
Look at it this way. He says its hard to win 2 or 3 games. But when he bets sports every week he has to go 2-0 or 3-0 to win for the week. If he goes 1-1 betting the same amount like he says he does he is losing money because of the vig. So betting the same amount on every game every time is not a good strategy because 1-1 or 2-2 is still losing him money with the same amount betting. Gotta lower your bet and sometimes you gotta raise your bet.
Do not bet NHL, NBA, horse racing, and college basketball. These sports are extremely hard and should be avoided. If you want to place a bet in the offseason or summer I would go with Baseball. Baseball is winable. Betting teams like the Dodgers and Rays are better bets than any of the teams in the NHL or NBA.
Parlays are for poor people or people who don't like betting alot of money. One misconception is that this guy thinks just because someone bets more money he is a better bettor than someone who bets say 25 dollars a game, and thats not true, some people don't have the luxury of betting 1,000 a game or 10,000 a game and have to bet 12 or 25 a game, or even 6 dollars a game. 2 team parlays are great in my opinion, because it is decent odds of winning and you get paid more than betting 2 single games and you are risking less money. 12 dollar 2 team parlay pays 31 profit. 2 teams for 12 dollars individually pays only 22 profit. 3 team parlays and 4 team parlays I don't recommend because they are too hard to hit. 4 teams is extremely hard to hit and should never be bet. If this guy bets 2 games single like he does, he is still losing a large vig of about 50 dollars depending on how much he is betting, so 1-1 he is still losing money, so he might as well make it a 2 team parlay in my opinion. The strength of a two team parlay is not just the fact that it pays more when you win but I like the fact that you lose alot less when you do a parlay I would rather lose 12 dollars than 24. He is losing double the money sometimes and I am never losing double.
Good to know. Thanks
In south korea we dont get paid if one game i
out of 3 failed. We also should bet at least 2 games. That is the rule. We can't bet more than 100 dollars in sports betting. because that is the law . There is no nfl game because I guess south korean citizens are interested in soccer. It's funny that betman put the middle east soccer league and american soccer league.
I bet parlays all the time as my betting app has cash out offers is great as long as your 1st 2 or 3 games come in and your 4th and 5th games are leading they will give u an offer which 9 times out of ten i cash out.
Parleys work, if done right. My strategy is simple:
You have to research every game. Do not get greedy. Have a few cards running. Eg: your first card is your sure fire bet. Use that to just get your money back. Second card is bets you really like but wouldn't bet your rent on. Third is the second but with a few more games. Maybe some 50/50 games. OR games you didn't want to put on the other cards. Keep your units small. Never go over $20 unless your god sure.
Can I have some free money to get started?
" or as i would do, maybe buy a sack of Kush " wow thats got to be the most relatable statement ive ever heard on youtube. God speed my friend. I salute you
I hit a 4 teamer once
@vipsportspicks- 25 pick parlay won and eaten up. Maybe i am your john Anthony:)
purple Kush
Only bet parlays individually. Like Singles tell matchups, or UFC matchups.
Lol i was gonna parlay; but that sack of kush sounds better.. ..
Nice explanation Steve. Very clear, concise and easy to understand.
Parlays are awesome when done right! Small, safe and consistent in size.
cool channel
Most Dominant Sports Performances I’ve Ever Personally Watched
1 – 2012 Heat vs Celtics ECF Semi’s Game 6: The infamous LeBron game. His entire legacy on the line. On the road against a great Boston Celtics team led by Playoff Rondo + 3 HOF’s. The most focused performance I believe I’ve ever seen. The game was over in 5 minutes when the Celtics realized LeBron wasn’t going to get stopped.
2 – 2006 Texas vs USC: Vince Young in the national championship. Best college football performance I’ve ever watched. Put an end to the USC dynasty.
3 – 2009 Ndamukong Suh Nebraska vs Texas Big 12 Champ Game: He almost single handedly beat an outstanding Texas team. I’ve never seen a defensive performance as good as his.
4 – Tiger Woods 1997 Masters: 12 shot victory at the Masters. Will never see again. Tiger in his prime, wearing red….was game over.
5 – 2001-2002 Barry Bonds: Yes two entire seasons. The best hitter the game has ever seen. Quickest hands in the history of baseball. Never got fooled. Always pounced on a pitcher’s mistake. Combined .347 AVG, 119 HR, 375/140 BB/K Ratio, 1.381 OPS, 103 IBB — nearly as many intentional walks as strikeouts.
What are yours?
Ray Raymond is Not Impressed! With Steve Steven's.
Do u ever have anything to say positive about anybody? U get a lot of views. I didn’t know there were so many haters out there like you.
i have a friend that sells his pics and he post his wins and losses you should do a story on him he is legit not like most of the scumm
ye
Anyone that brags this much, is talking out thier ass. Real strength and winners don't work thier lips that much.
How the hell does he have time to play guitar for Billy Idol???
The last 31 days I went 25/9 for 73.5%. That’s consistent. NHL.
This guy is actually legit. There are many places that don't take his money. He says his odds are pretty legit 60% which is high but nothing like these other 90% ppl. He works on. Much less commission 30-35 if you betting higher.
Put them out there💪🏾 busted out chumps.
Spencer's clown this man no is SPORT betting just is a clown
just a correction. the win rate doesnt matter. its all relative. you can be profitable with a greater than 75% win rate if your average odds are 1.33 or you can be profitable with a greater than 50% win rate if your average odds are 2.00
Your wrong about the martingale system. The math never overcomes the vig
Good video, well done!
Even if the fake sports betting gurus were as good as they claim, I still can’t imagine paying someone else to pick bets for me. Where’s the thrill in that? Sure, you’d get money, but that’s only part of the reason for betting on sports. It’s like Paul Newman said in “The Color of Money”: “Money won is twice as sweet as money earned.” If you’re paying someone to tell you how to bet, you’re not really the one who’s winning.
I watched your other "Steven's Killa" video and was wondering about the "$50 suit from JC Penney" and THAT? bad boy's lookin sharp my man! Better than some goofy assed sweatsuit fo show!
Love the videos bro!!
If someone has a system to win in gambling, they aren't going to share it with you…
In for a 100k. And there are no drugs involved? Wtf no ty!
Here from Coffeezilla. Your hilarious dude. xD