What Is a Parlay? Sports Betting Examples, Tips and Analysis

That’s the appeal—small stakes can return big payouts if all your picks hit. Sportsbooks automatically determine the overall odds for you when you construct a parlay, so you don’t need to be an expert in arithmetic to enjoy parlay betting. Here’s how the math behind parlay odds works, though, in case you’re interested or want to figure it out for yourself.

A parlay bet is a wager that combines two or more individual bets into one. The trick is that all the individual bets within the parlay must win for the parlay to be successful. The trade-off for the risk involved with linking bets together is a higher potential reward. A two-team parlay involves two bets combined into one parlay wager, while a three-team parlay involves three bets. The more teams you include, the higher the potential payout, but the risk also increases because all bets must win for the parlay to pay out.

Limit the Number of Selections

Any two leg parlay where both picks are at -110 odds, for example, comes out to be +264 odds, as seen in the pictures below. A parlay bet is when you combine two or more individual bets into one. A teaser allows you to adjust the point spreads in your favor, making it easier to win. For example, if a team is favored by 7 points, you can lower it to 1 point.

If most of your parlay legs have won, you can hedge your final selection by placing a single bet on the opposite outcome. While it reduces potential profits, it eliminates the risk of walking away with nothing. Experienced bettors often employ more advanced techniques to enhance their chances of winning parlays.

Embrace the future of productivity, and make your betting calculations even more efficient. This helps you analyze your performance over time, identify patterns, and refine your strategy. This function will calculate the average of the odds in your range, providing insight into the overall strength of your picks. It offers a range of functions that can enhance your betting calculations. Excel is great for making data not just functional but also visually appealing. Conditional formatting can help you quickly identify winning scenarios.

If you’re winning, you can bet a little more; if you’re losing, bet less. The customer could take $550 (half of those potential parlay winnings of $1,100) and wager on the -3.5 favorite (-110) to win $500. If the parlay loses, the customer would still be up $400 in profit overall (lost the original $100 parlay wager, won $500 on the -3.5-spread wager).

When betting on underdogs, the odds will inevitably be higher, which can result in a greater payout if they do win. However, it’s important to be realistic about the chances of an underdog winning, as the odds are often high for a reason. Only bet on underdogs if you feel they have a good chance of winning, and if the odds make it worth the risk.

This adjustment could potentially make the bets more favorable, but would also decrease the potential payout. But risk is what gambling’s all about—and great risk is sometimes followed by great reward. A parlay requires a lot more risk, but offers a significantly higher payout if you win. This guide will share SportsLine’s experts’ general betting strategies, strategies for specific sports and strategies for specific bet types.

This enticing match puts some of the world’s biggest soccer stars on the field and comes with plenty of exciting betting opportunities. If you’re looking to make profit on the action, this Atletico vs Real Madrid prediction guide is for you. Champions League fixtures are always a good pick for accumulator enthusiasts. They can string together a list of betting favorites with other markets for the UCL top teams, potentially creating a lucrative acca. The best Champions League odds are at BetPlays, with favorites and underdogs already available for Canadian bettors to wager on. One of the best ways to improve your chances is by leveraging data and statistics.

Increased Risk

In a Totals bet, you set a wager on a specific score, betting that it will go over or under a certain amount. It’s also known as an Over/Under bet and you can use it to wager on total points in a football game, total runs in basketball, goals in hockey, and more. These guides will explain the most popular types of sports bets and how to place them. This example demonstrates a higher EV for the parlay than for a single bet on heads, despite the lower probability of winning the parlay. There are also some instances where retail locations use betting kiosks rather than or in addition to a betting window. In this case, follow the prompts on the screen to populate your bet slip with your parlay selections and submit them when you are happy with the inputs.

If one leg of your parlay pushes or is voided, the rest will continue without that leg. For example, suppose you have a four-leg parlay that includes the Philadelphia 76ers -4, and their game results in a win by exactly four points. In that case, your parlay will update to a three-leg parlay with the other three legs and the 76ers removed.

Parlay Insurance is a common ongoing promotion at top sportsbooks, such as those we recommend. This will generally entail a sportsbook giving your money back up to a particular threshold on multi-leg parlay bets (often five or more) if one selection loses. Using these promotions whenever available is a crucial way to increase your return on investment (ROI).

This strategy is one that many consider to be the best parlay strategy. A parlay with three NFL spread legs is more difficult than winning a three-leg money line parlay involving 7-to-10-point favorites. However, the risk is also higher because all the bets must win for the parlay to payout.

Or you could place a $100 parlay on Kansas City and New York, which will pay $264.46 if both teams win at odds of +264. Same game parlays are unique because all the bets (or legs) you place are within the same event. In contrast, regular parlays combine bets from different games or sports.

There’s often a huge temptation to pile many bets into a mix parlay. After all, many bets equal high odds, potentially increasing profits. However, whenever there’s high-profit potential in any gambling, one should also recognize that the chances of that bet succeeding are low. The higher the number of predictions combined into the mix parlay, the higher the possible profit, but the less the chance of winning. As a rule, keep the mix parlay at a maximum of 3-5 individual bets. Another critical consideration is to try to take advantage of any parlay promotions.

• Skilled bettors often use parlays to combine high-value underdog picks or take advantage of favorable odds across different markets.
• The new CL format often brings a lot of surprises, which should be taken into account before reading Champions League matchday 2 predictions and tips.
• A key concept in parlay betting is the ‘Expected Value‘ or EV, which helps determine whether a bet is likely to be profitable over time.
• Always bet within your means and allocate a small portion of your bankroll to parlays, as their inherent risk makes them less reliable than single bets.
• One of the most significant advantages of parlay bets is the potential to receive a higher payout compared to placing individual bets on each event.

It is essential for bettors to understand the risks involved with parlay bets. While they may be enticing due to the potential for higher payouts, the lower probability of winning can result in significant losses. Bettors should carefully consider their options and only place parlay bets when they are confident in their individual bet selections.

If any leg of the parlay loses, the entire bet is considered a loss. Both teams haven’t been at their best to start the season, but Baltimore’s slide stands out after an unacceptable loss to the Lions last week. Kansas City have had their own lulls, yet Arrowhead remains a difficult place to steady yourself, and the Chiefs typically execute better in late-game situations at home.

Instead of worrying about point spreads or totals, you’re simply picking who will win a specific game or match, whether it’s a team or individual event. For that reason, SportsLine has created pinup this series of guides on sports betting. The guides will cover everything from basic topics (e.g., what is a point spread?) to advanced ones (e.g., the drawback of attempting to “middle” a game). It’s Sports Betting 101 and Sports Betting Masterclass rolled into one.

Hedge Betting How to bet on opposite outcomes to ensure a profit or minimize a loss. Online Sportsbooks Where to find the best offshore sportsbooks on the internet. But if the offer was +110 on Heads on the same series of bets, you’d have a positive EV situation on your hands due to your improved payout. Let’s look at a few examples to show how parlays and their payouts work. We’re here to help you understand The Best NFL Betting Algorithms with expert analysis, guides, popular strategies, and more. Using ChatGPT for Sports Betting Insights with expert analysis, guides, popular strategies, and more.

It was on full display against Liverpool, where the team leveled the score twice before succumbing late in the match. Atletico can score even when its play doesn’t impress, and that might be concerning against Real. Additionally, Real’s porous defense might have trouble against players such as Antoine Griezmann or the very much in-form Julien Alvarez. If we compare the current form—which we’ll analyze later on—Real Madrid has the edge.