Whatever the name, the concept is fairly simple. A parlay bet simply combines multiple wagers into one bet. It does this by rolling over the winnings from each. 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. Definition: A parlay is a wager type in which multiple bets are linked together to create a greater payout. It's treated as one big bet. LAKERS & WARRIORS
What Is a Parlay Bet? A parlay bet can be defined quite simply. It is a bet made up of a number of smaller bets. A parlay is a way of linking bets together, so they are treated as one big bet. You must win every smaller bet to win the parlay bet—if you lose just one of the smaller bets, then the entire parlay is lost. On the other hand, a sportsbook will give you bigger and bigger payouts for adding more games to your parlay, and if you win, you may win big.
In , the U. Supreme Court gave U. It is still fully illegal in 17 states, including California, Massachusetts, and Texas. In four other states, there is some form of pending legislation. However, you can also parlay these bets together. In this case, your risk is higher, but your return will also be higher if you win both. How much higher? About 2. But you might also double your winnings over making two individual bets.
This is a simple example. Parlays can be a lot more complicated and can consist of many more individual bets. For instance, you could bet on five teams covering their spread instead of just two. How to Make a Parlay Bet There are many ways of making a parlay bet. Any online or in-person sportsbook will let you place this kind of bet and will calculate the odds for you.
In casinos, another popular option is to use a parlay card. You use this card to choose your teams and totals, then give this to the ticket writer in the sportsbook, along with the money that you will wager. A similar concept has recently started to appear on mobile betting platforms. Warning Casual bettors should be very wary of parlay bets. While these bets can promise huge payouts, they are very risky and are not an investment strategy.
Calculating Parlay Payouts Calculating the odds of parlay bets can be tricky, partially because of how odds are expressed in sports betting in the United States. Any sportsbook will calculate your potential winnings from a parlay, and this is often the easiest way of doing it. Multiply all the decimal odds together.
Multiply the result by your bet amount. Subtract your original stake to get the parlay odds. First, convert those odds to decimal, which is 1. Then multiply them together: Tip There is a simple rule to work out the odds for parlays made up of wagers. A double bet pays about 2. From there, the odds roughly double for every bet added to the parlay.
If one of these teams fails to cover, the whole parlay loses. Types of Parlay Bets Teasers Teasers are a type of parlay bet that allows adjusting spreads or totals for a higher chance of a winning wager. Because this variety of bet allows moving the spread or total, teasers are easier to win than traditional parlays.
Before you get too excited, there is a downside. The odds for teasers hold less value due to the enhanced chances to win. The odds will drop, but your chances to win increase in return. Moving the spread in hockey, baseball or soccer has a much higher impact than in football or basketball. Round Robins Round robin parlays allow players to place multiple parlay bets across several games.
Players can create many bets, including parlays of differing amounts involving a set group of games. Each parlay, in this case, requires a separate wager. An excellent example would be an NFL Sunday featuring four games the player wants to parlay together.
A four-team round-robin parlay of these games consists of any number of two-team, three-team and four-team wagers. Any combination of winning wagers that match the parlays made will pay out. Each wager, in this case, must be placed individually. A four-team round-robin has 11 different possible combinations to bet.
Same-Game Parlay A same-game or single-game parlay is a bet that utilizes correlated wagers for the same event to earn higher payouts. The idea of correlated wagers is that the outcome of one bet can increase or decrease the likelihood of another leg cashing. One example is the correlation between spreads and totals of a football game. Say Michigan is 28 point favorite over Appalachian State with a game total of If the Wolverines cover that high spread, there is a good chance that the game total will exceed 51 points.
This strategy can also be used when betting player props. If you are making a bet on the over in a Buccaneers vs. Chiefs game, there is a good chance that the starting QBs will go over their passing totals. You are confident in both games going under the total and want to parlay them together. A simple example would be to consider a day where the New York Yankees If you plan to bet on both anyway, there is a lot to gain from putting them into a parlay instead.
How to Bet a Parlay Betting a parlay is not much different from putting together a bet slip for a single game. After you select a game and wager amount for the game, instead of submitting the card, simply add another event. This will automatically parlay the games together and tell you the updated payout and odds.
Calculating Parlay Odds and Payouts Serious bettors should familiarize themselves with how to calculate odds and payouts manually. There are a few steps that require a bit of basic math to get through. First, if you are using American odds, they must be converted to decimal odds. Once you have all the odds in decimal form, multiply them together. Take that number and multiply it by your bet amount.
Finally, subtract your initial stake to get the odds for your parlay. This is one of the most frequently asked questions regarding parlaying bets in sports. Luckily the answer is simple and does not punish the player for a game that is called off.
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