The Parlay System

This is a positive progression system, meaning that you increase bets as you win.

The system is very much like the Paroli System which is also described in detail on this site, and is one of the oldest betting systems in the book.

The intended effect of the Parlay system is, in essence, to "pyramid" your profits. What this means is that, when you win, you wager both your winnings and the amount of your initial bet as your next bet.

So, if I bet $10 on a 1 to 1 game and win, I win $10 plus I get my initial bet of $10 back. With the Parlay system, I place both the $10 I won and my original $10 - for a total of $20 - back into the pot as my next bet. If I win again, I take that $40 and place all of it as my next bet. And so on.

This form of betting is common in horseracing when bettors reinvest their original bet and their winnings on subsequent races. This is what is meant when people say, "Let it ride."

This is also the way banks compound interest.

The Parlay System promises the possibility of winning huge sums of money, with the risk that you lose it all in one bum round. Of course, proponents of the Parlay System figure, all you're really out is the amount of your initial wager. The winnings were never really yours anyway because you never cashed them out.

If you buy that line of thinking, then this method may be just the thing for you.