The Parlay Betting System

As far as roulette betting systems go, the Parlay Betting System is very simply to understand and employ. Once you you do understand how Parlay works, it will also become patently obvious to you that it will not guarantee you a winning session playing roulette.

How the Parlay System works

If you know what the gambling term Parlay means, you’re three quarters of the way to understanding this system.

To parlay a bet means to roll your cumulated stake and winnings from the previous bet into the next, or to use another common gambling turn of phrase – to let it ride. Of course you can parlay your bets in any gambling pursuit from sports betting to horse wagering or any form of casino game. For some reason some misguided enthusiasts have decided parlaying bets on the roulette table is the way to go.

Strictly speaking there’s a little more to employing the Roulette Parlay System (but not much).

Here are the guiding principles:

1. decide on your beginning bet amount, eg $10
2. place that bet on an even money, outside roulette bet (eg red or black)
3. if the bet loses, your next bet will be the beginning bet amount ($10)
4. if the bet wins, your next bet is equal to your bet stake plus winnings ($20)
5. repeat these steps until you reach your predetermined session win target.

Parlay is what’s known as a positive progression system: bets are increased as you win, decreased as you lose. Essentially you’re hoping to hit a streak, and make your predetermined session win target, before losing how ever much you’re prepared to lose for the session.

Example of a Parlay bet sequence

Beginning bet amount $10; session win target $160

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Dangers of the Parlay System

The above example highlights the danger of this system. Despite 4 wins and only 2 losses (a very lucky win loss ratio for an even money outcome game) we are in a net loss position.

From the outset, a winning streak of 4 was required to hit the session win target of $160. The odds of this happening are (18/37)⁴ or a 5.6% chance. From our net loss position after 6 spins, we now need a winning streak of 5 to pass our predetermined win target, (18/37)⁵ , equating to a 2.7% chance.

So despite a lucky start (4 wins and 2 losses) we are looking very unlikely to hit our session win target. The session will most probably end when the net loss figure becomes too uncomfortable to stomach.

It’s pretty clear that system that requires large winning streaks to win you money is flawed. Any bet sequence is going to win you money in that outcome scenario.

At least some of the other roulette systems we’ve looked at in the past hide their failings behind mathematical sequences (Fibonacci) or a negative progression that at first glance seems feasible (Martingale). Not the Parlay System. It’s very obviously flawed at first glance.

Once again we end another roulette system discussion with the following irrefutable truth:

roulette is a game in which every possible bet you make is an independent event with a mathematical house edge. In the absence of an exploitable wheel bias, only lady luck can win you money.