Parlay Bets - Sports Betting
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Parlay Bets - Sports Betting
This section of the Sports Gambling Tutorial on
Sports Betting provides an explanation of
parlay bets, also known as multiples in sports betting. A parlay bet is a single sports wager
that links together several individual sports bets. The parlay bet can be comprised of a series
of sports bets on a particular game, including over under bets,
or a series of bets on various games. For the parlay bet to be a winning wager, every one of its
individual sports bets must win. If any of the individual bets is not a winner, then the entire
parlay wager loses.
If, however, one of the individual plays is a push or no action, then the parlay bet is still on
for the remaining plays. For example, a three-play parlay bet would become a two-play parlay bet;
a two-play parlay bet would become a straight bet, with corresponding reductions in the payoff.
Why wager on a parlay and not make several individual sports bets? The payouts for
parlay bets are significantly higher than for individual sports bets. But remember, since
every one of the individual plays must win, it's an all-or-nothing bet. If you
win two out of three plays, the parlay bet still loses, whereas you would have won
those two plays as individual straight bets. You are given better odds because
predicting the outcomes of several events together is significantly more difficult than
predicting any individual event.
Example Parley Bet
You want to make a 5 team American NFL football parlay bet using
point spreads: Dallas -10, New York +7, Minnesota -8, New Orleans -7, and Oakland -3.
If all these bets win, then you will have won at 20-1 odds. If only 1 team loses then the entire parlay bet loses.
Typical Parlay Bet Payouts
| 2 Teams |
13/5 |
| 3 Teams |
6/1 |
| 4 Teams |
11/1 |
| 5 Teams |
20/1 |
| 6 Teams |
40/1 |
| 7 Teams |
75/1 |
| 8 Teams |
150/1 |
| 9 Teams |
300/1 |
| 10 Teams |
700/1 |
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