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How does a Parlay work?

1. 3 Leg Parlay With 4 Selections
2. Types Of Parlays

Select as few as two or as many as fifteen teams and combine them in one wager. All selections must win for your parlay to be successful. You can combine spreads, totals and moneylines.

The true odds for this 3 leg parlay are actually 8-1 given that each individual leg is a 50/50 chance of landing. No wonder sportsbooks actively promote the points spread parlay! The only caveat to the poor value of the point spread parlay is if the bettor firmly believes they have found games where the sportsbooks have the handicap wrong.

1. The NBA Parlay example above was a 3-leg Parlay that needed all 3 selections to win to return a winning bet. A common term for a bet that requires all selections to win is single multiple, or parlay. As the example had 3 legs, it would be called a 3 Play Parlay, or a Treble.
2. A parlay bet is a wager in which multiple choices are included on a single betting slip. A minimum of two selections is required, and books can cap the total number of choices that can be included somewhere north of 10. The chances of being correct on all legs of a parlay lessen with each selection that’s added to the ticket.
3. To get the parlay odds for our three-leg wager we now need to multiply these odds together. 3.00 x 3.50 x 1.63 = 17.12 To discover what the American odds for this parlay would be we need to convert it back by multiplying by 100 and then subtracting 100. So our parlay odds work out to.
4. According to ESPN Chalk, a high roller wagered $3 million on a 3-leg parlay what would profit $5.6 million and net $8.6 million. According to the report, it’s the largest wager ever taken by DraftKings’ sportsbook director Johnny Avello who has been in the business for 30 years.

What are the advantages?

The benefit of the parlay is that it gives a much higher payoff than if you were to place each bet individually since it’s harder to win all your selections.

Conditions:

• If there is a tie or no action, the parlay reverts to the next lowest number for pay-off, for example: if you select 4 teams and one of those ties, it becomes a 3 team parlay. A tie and win on a 2 team parlay pays out as a straight bet.
• You cannot combine ‘connected’, ‘dependent’ or ‘correlated’ events in the same parlay.

Payout Table:

The odds quoted in the pay-off table below only hold true if all selections in the parlay are at the standard price of -110 (football and basketball spreads and totals).
Variations in the prices will cause variations in the pay-offs.

Calculating a Parlay:

If the odds in the parlay are not all -110 then the (true) parlay odds are calculated according to the different prices. This is done by multiplying the prices of the selections together, but remembering to include the stake amount. Let's assume you place a $10 parlay on 2 selections, with odds of -180 and +250. The calculation to work out your return is as follows:

First of all, convert the odds into decimal format (just use our decimal format option to view your odds):

With ‘favorite’ prices (denoted by a – (minus) sign):

100/180 = 0.556 and add 1 (to include the stake) = 1.556

With ‘underdog’ prices (denoted by a + (plus) sign):

250/100 = 2.5 and add 1 (to include the stake) = 3.5

Then, to find your total potential return, multiply these odds together and with the stake: 1.556 x 3.5 x $10 = $54.46

Progressive Parlays

A Progressive Parlay is very similar to a normal parlay but, in exchange for not getting as big a payout for picking a perfect combination, you are getting insurance for those occasions when one or more of the teams in your parlay loses.

These can be between 4 and 12 teams but you can onlychoose point spreads (no totals or moneylines). In these parlays you can lose games and still win the bet because the payouts are lower.

4 - 6 teams... you can afford ONE team to lose/push
7 - 9 teams... you can afford TWO teams to lose/push
10 - 12 teams... you can afford THREE teams to lose/push

The Progressive Parlay Payout Table

Below the table in American Odds:

Please note that Progressive Parlays also differ from regular parlays in the following ways:

• Progressive parlays are not available for MLB, NHL or money-line wagers in football or basketball.
• In a Progressive Parlay, a push or a tie is considered a loss for that selection. However, if a selection has no-action (due to postponement or cancelation), the bet will revert to the next lowest progressive parlay for payoff, except in the case of a 4 team progressive parlay where it results in a no-action on the whole parlay.

Round Robin Parlays

How a Round Robin Parlay works:

Make between 3 and 6 selections and wager on some or all of the possible parlay combinations in one go. Each of the parlays comprising the Round Robin is a separate wager.

3 Leg Parlay With 4 Selections

You can combine spreads, money lines, totals and different sports in Round Robin parlay bets.

Example:

A three-team Round Robin bet for $10 placed two-ways would consist of all the two-team parlays that can be made from the three teams selected. Taking the Colts, the Eagles and the Giants (all to cover the spread) two-ways, you would be creating three separate two-team parlays and the total cost of the bet would be $30:

With the above example in mind, you also have the option to place a three-way Round Robin side bet to increase your potential payout (a three-team parlay including all three teams). If you wish, you may risk a lower amount on this 3-way bet, as it may be harder to win:

With the selection of 4, 5 or 6 teams, further combinations are possible:

To place a Round Robin Parlay please follow these steps:

1. Log-in to your account
2. Choose the sport type on which you wish to bet
3. Add your selection(s) to your betting ticket by clicking/tapping on your selected odds/prices on the betting card
4. As soon as you have made at least three selections Round Robin Parlay will appear on the Parlay tab visible at the top of the betting ticket.
5. Choose the required parlay combinations (2, 3, 4, 5 and/or 6-way) and the amount you would like to wager on each group of combinations.
6. Review your selection(s) again before clicking/tapping PLACE BET.

The table above illustrates the possible number of combinations for the different sizes of Round Robin. It is not obligatory to choose all combinations.

Furthermore, it is possible to vary the amount risked on each group of combinations. For example, if you are making a 4 team Round Robin with 2-way and 3-way combos, you may wish to bet a higher amount on the 2-way combos which are easier to hit and a lower amount on the 3-way combos in which it would be harder to be successful.

The total value wagered and total potential payout will be displayed on the summary on the lower right hand side of the window. Once you have submitted your wager, a range of Bet IDs will be provided. Please make a careful note of the range for wager tracking purposes. (Please note: Bet IDs within the range may not necessarily be sequential).

All Sport Parlay Wager

The All SportParlay Card (also known as a Cross Sport Parlay Card) offers the opportunity to place a parlay bet on a variety of different sport-types including US and non-US sports. Log in to your account and click on PARLAY CARDS > All Sport Parlay Card to display all the lines we're currently listing for use between sport types.

Alternatively, you may also be able to parlay events which do not appear together in the same parlay card. For example, bet soccer and baseball in the same parlay. Or parlay the 1st half lines of an NFL game with a boxing match.

To do this, simply add to the betting ticket the line of one of the events you would like to parlay, let's say a boxing fight, from the BOXING + MMA section of the site, then go to theNFL area and add to the betting ticket the first half line you want, if they can be parlayed the system will show the option to do so in the betting ticket.

You will not be given the option to buy points on US football, basketball spreads or totals. The maximum bet allowed depends on the prices of the selections in the parlay. You can find out the maximum you can lay by clicking the max bet button. Events available on the All Sport Parlay Card may vary depending on the day and time.

Types Of Parlays

Note: Management reserves the right to limit the maximum amount wagered prior to acceptance of any bet.
No parlay wagers can be accepted where individual wagers are 'connected', 'dependent' or 'correlated'. For further details, check 'correlated events'.