Parlay
Also known as multiples, a parlay is a single wager that links together several
individual bets. 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 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 is still on for the
remaining plays. For example, 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 events together is
significantly more difficult than predicting any individual event.
Example
A player wants to make a 5 team football parlay bet:
Miami -7, New York +3, Seattle -4,
Denver -10, and San Francisco -8.
If all these bets win, then the player
would have won at 20-1 odds. If only 1 team loses then
the entire parlay loses.
Typical Parlay Payouts
|
2 Teams |
13/5 |
|
3 Teams |
6/1
|
|
4 Teams |
10/1
|
|
5 Teams |
20/1
|
|
6 Teams |
40/1
|
|
7 Teams |
75/1
|
|
8 Teams |
150/1
|
|
9 Teams |
300/1
|
|
10 Teams |
7000/1
|
|
