Parlay is better in my opinion because you choose the matches yourself, while in slots you rely only on luck and nothing depends on you. Maybe such a win will go to one player out of thousands, but more often the winnings are much smaller. Parlays with high odds also win, and there are players who can repeat this more than once, but it is not for everyone and it is also difficult.
Your belief doesn’t change the reality that parlays are basically dependent on luck.
You can be confident with your picks, sure, but it’s hard to deny that the odds are stacked against us.
Just look at the chances per leg:
2-leg parlay = 24% chance
3-leg= 12%
4-leg = 6%
5-leg = 3%
…and so on. The more legs you add, the lower your chances get, eventually dropping below 1%.
At that point, it’s no longer about skill, you need extreme luck to hit a parlay, same as playing slots.
That's true, all forms of gambling are basically dependent on luck, but I still see a slight loophole or opportunity in parlay betting that we can take advantage of to win if we have good skills, which ultimately makes parlay betting arguably better at generating profit than playing slots.
I agree with the image you convey, the more matches you add, the lower the chances of winning. But here, we can still choose matches where a dominant team faces a mediocre team from different leagues, that's the loophole I'm talking about. This means we still have a little control when betting, unlike slots, which are purely based on luck. Meanwhile, I don't think this is a serious matter, as many people rely on parlay winnings to play slots.