The $5 Parlay Card I Play Every Week (And Why It Actually Makes Sense)

Every Thursday, I make a $5 four-leg parlay. This might seem to contradict everything I've written about parlays being mathematically terrible. It doesn't, and here's why.

First, let me explain the bet: I pick four games where I have strong opinions, typically NFL or NBA, and put them in a parlay at whatever the resulting odds are. Usually around +1000 to +1200.

Why this makes sense despite the math:

It's a defined entertainment expense. $5 per week is $260 per year. I spend more than that on coffee. This small, consistent amount lets me have a "lottery ticket" without ever putting my bankroll at serious risk.

It enhances my engagement with games. Having a parlay ticket makes me care about games I might otherwise ignore. The entertainment value of sweating out four legs justifies the cost even if I never win.

Sometimes it hits. Over two years, I've made about $200 from these $5 parlays against $520 invested. I'm down about $320, which is fine for entertainment purposes. But the occasional cash makes it feel worthwhile.

The key is absolute bet sizing. A $5 parlay is very different from a $50 or $500 parlay. The math is the same—you're fighting compounded vig either way—but the impact on your finances is completely different.

What I don't do:

I never chase with bigger parlays. The $5 is the $5. If I have a losing week, I don't make it $10 the next week.

I never substitute parlays for straight bets. My "real" betting is still 2% unit bets on single games. The parlay is a separate budget line item.

I never count parlay winnings as profit to reinvest. When a parlay hits, that money goes to fun stuff—dinner, a concert, whatever. It's not betting capital.

This is harm reduction, honestly. I know myself. I know I'm going to want some parlay action. By defining a small, consistent, bounded amount, I satisfy the urge without letting it damage my actual betting strategy.

If you have the discipline to never play parlays at all, that's probably optimal. But if you're going to play them anyway, making them small and consistent is better than random big swings.