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Parlays (US Sports)
A parlay is a single bet that links together anywhere from 2 to 10 individual plays. The parlay can be comprised of a series of bets on a team, over/under bets, or any mixture of the two. For the parlay to be a winning wager, every one of its individual plays must win. If any of the individual plays is not a winner, then the entire parlay wager loses.
If, however, one of the individual plays is a "push," then the parlay is still on for the remaining plays. A three play parlay would become a two play parlay; a two play parlay would become a straight bet, with corresponding reductions of the payoff.
Why wager on a parlay and not make several individual bets? The payouts for parlays are significantly higher than for individual 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 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 plays together is significantly more difficult than predicting any individual play.
You cannot parlay circled games.
These are the risk/win odds for parlay (Football & Basketball) bets:
|All Winners||All Losers|
Even Losers are Winners!
Parlays are a great way to bet and now Sportbet.com has made it even more interesting! Bet a 6-team parlay or more and if every one of your picks loses - YOU WIN!!!
Let's put the theory into action:
Say the results of the two games were the following:
The first play wins: Miami, the underdog, won the game. They either had to win the game outright or lose by less than 7 for this play to be a winner.
The second play wins: the sum of the Miami and Atlanta's final scores was 37. Any total of 35 or higher would have made this play a winner.
The third play wins: Baltimore beat New Orleans by 5 points, thus covering the point spread of 3.5. Baltimore had to win the game by 4 points or more for this play to be a winner.
Since all three of the plays were winners, the parlay wager wins. The payoff odds for a three play parlay are 1/6. Thus Dave's $50 bet returns $300. Unlike straight bets, in which the original bet is returned to the bettor if he or she wins, parlay payouts include the original wager. $300 is deposited to Dave's account. His balance now reads $500 available, $0 at risk.
Say the results of the same two games were instead:
Dave's first play wins: Miami, the underdog, won the game. They either had to win the game outright or lose by less that 7 for this play to be a winner.
The second play loses: the sum of Miami and Atlanta's final scores was 27. Any total of 33 or below loses.
The third play wins: Baltimore won by 4 points, thus covering the point spread of 3.5. Baltimore had to win by 4 points or more for this play to be a winner.
Since the second play was not a winner, the parlay bet loses. No money is returned. His balance now reads: $200 available, $0 at risk.