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The Parlay system is a money management and betting/gambling system. It is a positive progression betting system, whereby you effectively let your bet ride (Let It Ride). It is one of the oldest methods of wagering and was originally derived from the same premise that banking systems use to compound interest.
If you are playing roulette and win, you will leave your bet there for the next spin. You are technically re-investing your winnings on the next bet.
The Parlay system is commonly used in sports gambling and in horse racing betting.
The Parlay system is similar to the Paroli system and has the effect of 'pyramiding' your profit. Pyramiding is a parlay wager whereby the original wager plus its winnings are played on successive wagers.
This method of play is by no means risk free, but it offers the least amount of risk of all wagers since the player is only concerned with a win, place or show selection or a combination of the three. While it is not free of risk, it offers a minimum amount of risk of all wagers. During a string of losses, the gambler does not risk losing a large amount of money.
The objective here is to chase big wins (quite in opposition to the Martingale System) in that the gambler is not interested in covering losses.
The key question with the Parlay System is how long to let your bets ride. This is perhaps the only time during the game that you may feel the gaming tension using this system.
The Parlay system requires less capital and is usually employed to take advantage of winning streaks.
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