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Put simply, a parlay is a wager where multiple bets are grouped together on the same ticket to create one larger bet. A 2-leg parlay or 2-legger , refers to a parlay consisting of exactly two wagers. Likewise, a 5-legger consists of 5-bets. Parlay odds are calculated off the odds of each individual event. The result is that the payoffs are higher, sometimes significantly higher, than if you were placing a straight bet on any one leg of the parlay.
Be warned, parlays are much more volatile than straights. Parlay Betting Example Below is an example of a simple same-game parlay bet on the Houston Astros to win the game and the combined score to exceed The bettor could place two separate bets on these outcomes, but it would be impossible to roll over the winnings from one wager to the next without a parlay because both legs resolve at the same time when the game ends.
Now, consider a bettor who wishes to bet on the outcomes of three different baseball games. Bettors can add more legs if they wish to build parlays with even larger payouts, but the odds of winning fall dramatically as the bets require an increasing number of predictions to pan out. If just a single leg fails, the entire parlay loses.
We mentioned above that a parlay will not cash if even one leg loses, but what happens in the event of a tie? If all other legs of a parlay win and one leg ties, the book treats that leg like it never even exists. For instance, a 3-legger would become a 2-legger, and if the other legs won, you would be paid in accordance with the odds of the two remaining outcomes. If multiple legs tie, and the others win, the same concept applies.
A 4-leg parlay would be downgraded to a 2-legger if there were two ties, and to a single wager if there were three. On the flip side, ties are irrelevant if any other leg of the parlay loses, since one loss is already one too many for the wager to cash. The waters become a bit murkier when it comes to bet types. The system will instantly create a parlay for you, calculating the possible outcome at the same time.
How do Parlays Work? Parlays are riskier than single bets, but they are more exciting. While they give bookies an edge compared to regular wagers, some of the biggest wins in the history of sports betting have been parlays. Parlay payouts can be your bet thousands of times, but only if all the selections are successful. A parlay is typically considered when you add 2 or more choices on a slip, but you can go up to 15 or 20 — whatever the bookie allows.
You can use different bet types on such an accumulator. For example, you can choose 15 match winners or mix up match winners and goal betting on a parlay. The system will instantly calculate the return as soon as you enter your stake. When it comes to the wager, most bettors keep them low. They have to be over the minimum, of course.
Regardless of the number of bets on a slip, in a parlay, all have to be successful to get parlay payouts. Understanding Parlay Odds The odds in a parlay are added together and multiplied by your stake to calculate the returns. The odds for each game are counted as an individual bet.
For example, if you create a 5-team parlay with odds of 2. You can add the decimal odds for each bet together, then multiply them by your wager. All betting sites in have integrated calculators that will do the work for you. The system will give you a probable return to see if the profit is to your liking.
You will also learn different parlay types, most notably correlated parlay bets. A correlated parlay bet is a wager that ties 2 bets together. If one of those wagers wins, the chances of winning the second bet are higher. Not all sportsbooks accept correlated parlays, as they can be very profitable for bettors with a bit of luck. The payout for these bets is generally around 2.
Some bookies can take that number over 2. Types of Parlays Parlays come in many shapes and sizes. Almost any bet type can be added to a parlay, including teasers, round-robin bets, point spreads, moneylines, and totals. Most bettors usually go for the longest payout with many games tied together on a slip. Of course, nothing is guaranteed, but there is a chance to win your parlays with a bit of luck.
The profit they generate is much higher than what singles or doubles offer, making parlays one of the favorite bet types for players. Teaser Popular at NFL sportsbooks , teasers are bets that involve point spreads on basketball or football.
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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 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 parlay is lost and so is your money. And it does not matter how many of the games you won on the betting slip because ALL of them must win. If any of your picks in the parlay turn out to be a push, then that bet basically acts as a tie and the payout of your payout will be reduced if you won your other bets.
In other words, if you have an 8-team parlay and one of those picks is a push or tie, then you essentially are left with a 7-team parlay. Why Do People Bet On Parlays A parlay is enticing to bettors because of the high return on investment should the bet be won. The payouts for a parlay can be very high, and thus very rewarding.
If all three of these teams cover the point spread , then the bet would be won. If any of the three teams loses then so do you. The easiest way to calculate is to simply go to an online sportsbook and start putting your bets in. You will be able to see the payouts for the parlay before you confirm the bet. If you look at the table below then you can see the payouts if you were to bet a parlay using regular betting lines that are set at Likewise, a 5-legger consists of 5-bets.
Parlay odds are calculated off the odds of each individual event. The result is that the payoffs are higher, sometimes significantly higher, than if you were placing a straight bet on any one leg of the parlay. Be warned, parlays are much more volatile than straights. Parlay Betting Example Below is an example of a simple same-game parlay bet on the Houston Astros to win the game and the combined score to exceed The bettor could place two separate bets on these outcomes, but it would be impossible to roll over the winnings from one wager to the next without a parlay because both legs resolve at the same time when the game ends.
Now, consider a bettor who wishes to bet on the outcomes of three different baseball games. Bettors can add more legs if they wish to build parlays with even larger payouts, but the odds of winning fall dramatically as the bets require an increasing number of predictions to pan out. If just a single leg fails, the entire parlay loses. We mentioned above that a parlay will not cash if even one leg loses, but what happens in the event of a tie?
If all other legs of a parlay win and one leg ties, the book treats that leg like it never even exists. For instance, a 3-legger would become a 2-legger, and if the other legs won, you would be paid in accordance with the odds of the two remaining outcomes.
If multiple legs tie, and the others win, the same concept applies. A 4-leg parlay would be downgraded to a 2-legger if there were two ties, and to a single wager if there were three. On the flip side, ties are irrelevant if any other leg of the parlay loses, since one loss is already one too many for the wager to cash. The waters become a bit murkier when it comes to bet types. For instance, if you want to parlay the Bears point spread with over What is a Correlated and a Same Game Parlay?
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