A Parlay Bet
I’m sure we’ve all been in a situation before where we stare at the list of games and think to ourselves “if only I could hit a nice 10 team parlay”. Now, depending on the odds of the games you selected or the amount of money actually wagered on the parlay, this bet won’t necessarily make you “rich” but it could offer up a very nice four or five-digit return. The problem with hitting a parlay that size is that it’s damn near impossible to do. Most experienced bettors refrain from ever making parlay bets. Thankfully, for sportsbooks, parlays will always be a staple of the betting game since there is always the potential of that one big payout every square bettor chases.
Jan 21, 2021 One bettor played a $250 wager on an 11-leg same-game parlay for the Celtics-76ers game on Wednesday night and every leg end up hitting, which netted the bettor $103,041.28. 100 LARGE OFF A SAME. A parlay bet is a bet that involves two or more games. The games or events can come from different sports. However, to win a parlay bet one must be correct on every bet of the parlay. If one game or “leg” of the parlay is wrong, the entire bet loses. Since these types of bets are harder to predict, the payouts are much higher.
What is a Parlay?
When you hear someone mentioned the term “parlay” in a sports betting discussion, they are referring to a type of bet that involves two or more teams. In order for a parlay bet to be successful, each team involved must win, or cover the spread – depending on how you bet them. A parlay can also be called an accumulator or a combo bet. Parlays are the most popular bet amongst amateur bettors since it has the potential for the biggest payout.
Are There Different Types of Parlays?
In short, yes. A parlay can have a combination of money line bets, point spread wagers and even include the “over/under” option. Some sports books allow bettors to include different kinds of prop bets, half time wagers and sometimes even future bets.
Parlay A Bet In Vegas
Depending on the type or parlay you make, the payout could be minimal or significant. A lot of things go into determining the odds but the main thing you need to know is that not all sportsbooks offer up the same odds.
Generally speaking, a two-team point spread parlay will pay about 2.5/1, while a three-team parlay pays 6/1, a four-team parlay pays 10/1 and a five-team parlay pays 20-1. Obviously, the more teams you select to put in your parlay, the higher the odds go.
How Does A Parlay Bet Work
Are Point Spread Parlays Worth Playing?
Generally speaking, no. Parlays are typically referred to as sucker bets and only attract people looking for one massive payout. The problem with parlays is that the more teams you add, the number of possible outcomes increases. For example, a three-team parlay bet has eight possible outcomes, where only one of those outcomes will make you a winner. Since none of those eight outcomes is more likely than the others, a three-team parlay would need to offer up 7/1 odds in order to break even over the long haul. At 6/1, turning a profit is only doable if a bettor can pick winners at a very high rate – one that is almost unattainable, let alone sustainable.
What About Money Line Parlays?
A money line parlay is the better of the two parlays since the potential return is dependant on whether or not you bet underdogs or not. To find the return of a money line parlay, you simply multiply the individual money line odds together. Because of this, a parlay featuring two underdogs and a big favorite would return much more than 6/1 odds like a three-team point spread parlay would. Unfortunately, this way of betting is just as difficult as a point spread parlay. The more teams you add to the parlay, the more combinations there become, which in turn could take a big chunk out of the bankroll if you are a parlay-only player.
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One of the standard betting options offered by major sportsbooks catering to Canadian online bettors, parlays offer a way to increase your payout, but at a cost. A parlay is a selection of 2 to up-to 20 picks combined in a single bet. If all the picks are winners, you win a big payout. Unfortunately though, just one loss in your picks means the whole thing is for naught and the whole parlay is a loss. So, are you feeling lucky?
Where to make Parlay Bets
Making a parlay can be simple arithmetic, but figuring out the right sportsbook to place that bet can be rocket science. With tremendous odds, ease of use, a serious attention to customer service and a great variety of deposit and payout methods, the sportsbooks below are worth checking out before laying down on your next huge parlay.
Parlay Betting Odds and Payouts
Already licking your chops? Well remember that the betting odds on a parlay differ from book to book, but there is a generally accepted odds-line depending upon how many “teams/picks” are chosen. As you add more teams, however, you’re exponentially increasing your risk, so while you may have million dollar dreams, remember that old line that Vegas wasn’t built from House money.
The specific odds of a parlay will be the sum of the individual bets, multiplied by a parlay multiplier. The easiest and most basic parlay is a 2-team parlay, which features a general 13-to-5 odd. Upping that to a 3 team parlay increases the payout to 6-to-1 odds. 4 teams could net you 10-to-1 odds. It just gets better and better as you increase the number of teams picked; indeed some sportsbooks offer up to 20 picks with a monstrous 4000-to-1 payout!