The parlay staking plan is a useful tool for those who just want to try their luck. The starting stake can be very small but this plan has the ability to provide significant returns. The parlay betting system requires you to let your wager ride on winning bets - how long you should let the wager ride is entirely up to you. You can calculate it mathematically or use trial and error, for example:

Say we set the parlay number at 4 (that is the number of winning events on which you want the bet to ride) and the odds are once again level, with each initial stake set at £1.

• the first bet is a win and your wager is doubled to £2, now you let your wager ride hoping for another win
• the second bet is a win and your wager is doubled to £4
• the third bet is a win and your wager is doubled to £8
• the fourth bet is a win and your wager is doubled to £16, you decide to claim your wager and start over

You are in essence re-investing your winnings on each next bet until you reach your pre-designated limit. If you’re one of those people with a 'double or nothing' mentality this system will do just fine.