What is a parlay bet
If you're wagering $ on the parlay, you should have multipliers of, and for those individual bets. Multiplying those odds gives you and. Definition of a Parlay Bet: A parlay bet is a combination of multiple bets into a single wager. All of the bets on the parlay ticket must win for the parlay to. For a single bet, a push almost always results in your stake being refunded. In parlay betting, if one of your legs what is a parlay bet, one of two things. In gambling, parlay is used for a series of bets in which a person places a bet, then puts the original stake of money and all of its.
What is a parlay? Examples and how to make a parlay bet on sports
Why do people bet parlays? Parlays let you bet higher volume for the same money deposited. Or they let you deposit less to bet the same amount of volume. That's it.
Parlay Bet: What It Is and How It Works
These are not independent events , as a team that scores more than three goals is also very likely to win the match. A naive application of odds that treated these events as uncorrelated would not accurately reflect the probability of the linked bet. However, with the rise of sports betting over mobile gambling apps in the late s—s, this traditional hesitance has weakened.
These newer apps often allow "microbets" on propositions such as if the current possession will end in a score, and further allow these props to be bundled into parlays. The system then attempts to compensate on how correlated these props are. While these systems usually prefer to lean heavily in the house's favor, the increased volatility from these bundles has resulted in some notable cases where bettors have found favorable odds.
This isn't always a windfall for the bettors, though, as these newer-style sportsbooks have sometimes simply refused to pay out in those cases if the parlay comes through. Parlay bets are paid out at odds higher than the typical single game bet, but still below the "true" odds. For instance, a common two-team NFL parlay based entirely on the spread generally has a payout of 2.
The best way to analyze if a parlay is profitable in the long term is by calculating the expected value. Since the probability of all possible events will add up to 1 this can also be looked at as the weighted average of the event. The table below represents odds. Contents move to sidebar hide. Article Talk. Read Edit View history. Tools Tools. Download as PDF Printable version.
Type of bet. For other uses, see Parlay disambiguation. What is a parlay bet Not to be confused with Parley. For instance, if you place a parlay bet on three NFL games, all three teams must win for you to win your bet. If even one team loses, the entire parlay bet loses. The odds for a parlay are calculated by multiplying the odds of each individual bet together.
This can result in very high odds and potential payouts for parlays with many bets. Parlay betting requires a good understanding of each event you are betting on and a strategy for how to combine bets. It also requires a higher risk tolerance due to the all-or-nothing nature of parlays. There are variations like the progressive parlay, where you can still win money even if not all your picks are correct, though the payout is less.
Parlay bets can be an exciting and lucrative form of betting for those who have a good understanding of the events they are betting on and are willing to take on the higher risk associated with these bets. My Account Log Out. Search here My Account. Log Out. 
What is a Parlay Bet?