Parlay Betting Odds
What is a Parlay Bet?
A parlay is a sports bet in which you combine multiple individual bets. You must win the entire combination of bets or you lose. It’s that simple.
To choose a parlay wager, you first select at least two standard wagers you like. It could include bets against the spread, moneyline wagers, or the over/under. The more bets you make for your parlay, the more you can win. But there’s always a caveat. Once you start getting into four or higher team parlays, they become extremely difficult to win.
Let’s say you’re in the mood to gamble on an 8 team parlay, but the only out available to you is a bookmaker paying 150-1 fixed odds. A trick of the trade here is to include one bet that is priced differently than -110 in order to force the bookmaker to use true odds. American odds are displayed in hundreds and thousands (-110, +500, +1500, etc). Be sure to enter the minus sign (-) if applicable to your odds. Calculating parlay odds is simple when using decimal. A parlay is a single bet that is placed down that includes more than one pick to win a game or cover the spread, usually between 2-10 teams. You will win your parlay bet if all of your bets are won that you included on the betting slip. But if you have even a single loss, then the.
What makes parlays so difficult is you have to win 100% of your games. Whereas, with regular bets against the spread, for example, you only need to win around 60 percent to turn a profit. Parlays can sometimes be frustrating because you could conceivably run pretty hot and still lose. We’ve had some parlay losers where we actually won around 70 percent of the games.
Parlay Betting Odds
But there’s certainly a ton of upside and some great benefits to betting parlays as opposed to just straight wagers. If all you’re doing is betting individual games against the spread, you’re limiting how much you can win. A $110 bet typically only pays a $100 profit, which really isn’t that great.
Parlay Example
Sure, if you’re really good at betting the spread or over/unders and you get in enough volume, you’ll make a nice living. You still won’t make as much if you become skilled at betting parlays, however. The profit potential on parlays is much higher.