Parlay 2 Payout

A parlay calculator is a betting tool that aids gaming investors find out the odds and results of a parlay bet. A parlay, also known as an accumulator, is 1 bet whose results are usually determined by 2 or even more underlying bets. When successful, it offers greater returns to the investor since it links up many events for a higher payout. However, the football parlay odds for the entire bet would be +600 (6-1) since you have a 50-50 chance of winning each bet (3 bets x 2 = 6). If you bet $100 on the entire parlay bet, you’d get a parlay payout of $700 – your original $100 plus your winnings of $600. Ignore the boxes that are not included in your parlay (leave '0' in each box; they will not be factored into the parlay). Enter the amount of your wager in the box next to 'Amount($)' and click on 'Calculate'. The amount of a winning parlay wager will appear in the box next to 'Payout'. Note: The 'Payout' does not include the amount wagered. In other words, at standard parlay odds going all in on two single bets pays out better than parlay betting. What does a 2 Team $50 Parlay Pay? We can use the exact same math for a $50 parlay. At 13/5 odds (a 2.6 multiplier), a successful 2 team parlay pays out $130. Following the same math we did before, a $50 bet on a team at -110 pays out.

A parlay, accumulator (or acca), combo bet or multi is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately, since the difficulty of hitting all of them is much higher. If any of the bets in the parlay lose, the entire parlay loses. If any of the plays in the parlay ties, or 'pushes', the parlay reverts to a lower number of teams with the odds reducing accordingly.

Odds and payout[edit]

Parlay bets are paid out at odds higher than the typical single game bet, but still below the 'true' odds. For instance, a common 2-team NFL parlay based entirely on the spread generally has a payout of 2.6:1.[citation needed] In reality however, if one assumes that each single game bet is 50/50, the true payout should instead be 3:1 (10% expected value for the house). A house may average 20-30% profit on spread parlays compared to perhaps 4.5% profit on individual sports mix parlay bets.

How much does a 2 team parlay payout

Aside from 'spread' parlays, another way to parlay is to bet on two or more teams simply winning straight up. In order to calculate the payout of this parlay, one must multiply out the payout for all games. For example, if 3 teams are -385 favorites, a successful parlay on all 3 teams winning would pay out at a ratio of approximately 1/1. This is because (385/485)^3 is approximately 50%.

Examples[edit]

Typical payouts for up to 10 team parlay bet[edit]

The following is an example of a traditional Las Vegas Parlay Card at William Hill Sports Book, which shows the typical payouts for an up to 10 team parlay bet based on -1.10 prices (amount won is assuming $100 is bet)[citation needed]:

NumberOddsAmount wonPayout
2 Team Parlay2.6 to 1$260$360
3 Team Parlay6 to 1$600$700
4 Team Parlay11 to 1$1,100$1,200
5 Team Parlay22 to 1$2,200$2,300
6 Team Parlay45 to 1$4,500$4,600
7 Team Parlay90 to 1$9,000$9,100
8 Team Parlay180 to 1$18,000$18,100
9 Team Parlay360 to 1$36,000$36,100
10 Team Parlay720 to 1$72,000$72,100
Parlay

Profitability of parlays in sports betting[edit]

Many gamblers have mixed feelings as to whether or not parlays are a wise play. The best way to analyze if they are profitable in the long term is by calculating the expected value. The formula for expected value is: E[X] = x1p1 + x2p2 + x3p3…xkpk . Since the probability of all possible events will add up to 1 this can also be looked at as the weighted average of the event. The table below represents odds.[citation needed]

Column 1 = number of individual bets in the parlay

Column 2 = correct odds of winning with 50% chance of winning each individual bet

Column 3 = odds payout of parlay at the sportsbook

Column 4 = correct odds of winning parlay with 55% chance of winning each individual bet

Number of individual betsCorrect odds at 50%Odds payout at sportsbookCorrect odds of winning parlay at 55%
23 to 12.6 to 12.3 to 1
37 to 16 to 15.0 to 1
415 to 112 to 19.9 to 1
531 to 124 to 118.9 to 1
663 to 148 to 135.1 to 1
7127 to 192 to 164.7 to 1
8255 to 1176 to 1118.4 to 1
9511 to 1337 to 1216.1 to 1
101,023 to 1645 to 1393.8 to 1
112,047 to 11,233 to 1716.8 to 1

The table illustrates that if a 55% chance of winning each individual bet were achievable, parlays would be profitable in the long term. Compare the expected value you receive on an individual bet at a typical price of -110 with a 55% chance of winning: ((100/110+1)*.55)-1 = .05 (exactly 5 cents won for every dollar bet on average), multiplied by 11 = .55, to the expected return on the 11 game parlay ((1234/717.8)-1) = .719 (72 cents won for every dollar bet on average). In this case a parlay has a much higher expected value than individual bets with greatly increased variance in outcomes.

See also[edit]

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Parlay

What Does A 2 Bet Parlay Pay

Using the Parlay Calculator for How Much Does a Number of Teams Pay

Our free parlay calculator above will help you figure out the payouts you should be receiving once you enter the odds on each one of your bets. Using the parlay calculator is extremely easy.

All you have to do is type in the money lines for each one of your wagers (most spread bets will be -110) and then enter the amount you want to bet on the parlay. Once you hit Calculate the payout field will populate with how much you are going to win if every leg of your parlay hits.

For example. Let’s say you want to be a $100 4-team parlay on the Packers -7 -110, Patriots -8 -110, Steelers +3 -120, and the Lions +3 -115. In Team #1 I enter -110, Team #2 -110, Team #3 -120 and Team #4 -115. Leave the rest at 0. Then in the wager amount enter 100.

Once you hit calculate the payout should display 1149.21. This means that your $100 4-team parlay on those teams should earn you $1,149.21 when it hits!

Parlay Payouts & House Edge Depending on Number of Games

How Much Does A Parlay Payout

# of TeamsActual OddsLas Vegas PayoutOnline Payout
23/12.6/113/5
37/16/16/1
415/110/112.28/1
531/120/124.35/1
663/140/147.41/1
7127/175/191.42/1
8255/1150/1175.44/1
9511/1300/1335.85/1
101027/1700/1642.08/1

What is a Parlay?

A parlay is a single bet that links together multiple events for a higher payout. The more teams that you tie together the higher your payout is going to be, but the risk also grows since if just one of your legs loses, the bet is a loser. It doesn’t matter what happens in the other games.

Parlay 2 Payout Calculator

Payout

If one leg of your parlay ties, pushes, is cancelled due to postponement, cancellation, rescheduling, then the wager reverts to the next lowest number. For example a 3-team parlay with a push gets graded as a 2-team parlay with the other two legs.