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A parlay bet, sometimes referred to as an accumulator or combo bet, is a wager that combines multiple single bets to create one larger bet. In order to win a parlay bet, all of the outcomes in the bet need to be correct. As a result, the payout is much bigger than if you had placed each bet individually. The more single bets you include in your parlay, the more the winnings you will get from the sportsbook.
For example, a 5 team parlay will pay out considerably more than a 2 team parlay assuming equal odds. Sportsbooks allow you to bet parlays on just about any sport. You can even create parlays with bets from multiple different sports. Parlays can also be made up of different types of bets such as prop bets and futures bets. Opinion is divided among sports bettors on whether or not parlays are a smart bet.
But how is the total payout actually calculated? Step 1 — Convert the American odds of each single bet to decimal odds. You can do this using our odds calculator. Step 2 — Multiply the decimal odds of each bet together. This gives you your parlay odds. Step 3 — Multiply the result by your total wager amount to get your total parlay payout. You are looking at the upcoming Sunday NFL matchups and want to combine 4 single bets into a 4 team parlay in order to increase your winnings.
Here are the bets you want to combine in bold :. First, we convert the moneyline odds to decimal odds using the following formulas:. Negative American odds have a minus sign - in front of them, indicating the favorite. The allure of these bets has always been a larger payout than choosing a single team to win. If one leg loses, the whole parlay loses. The flexibility of a parlay bet also makes it attractive to gamblers.
If they all win, you win. Test out the parlay calculator above and compare odds at different sportsbooks to see how it works! There are two ways to place a parlay bet and both are quite simple. Filling out a parlay card is the other option for placing this kind of bet. Once the card is filled in, the bettor simply needs to visit the sportsbook desk to place the bet. Get the best parlay deal at online sportsbooks with Parlay Insurance here:.
There are two instances when a parlay can be a winning bet. A parlay only wins if none of the sides, totals or moneylines selected is a loser. The parlay can still be a winner if a game is canceled or ends in a tie. The pay schedule will simply more down to the lesser payment. For example, the bettor will win if a baseball parlay for four teams has three winners and one game is canceled because of rain. The bet will only pay based on the schedule for three winners instead of four as originally planned.
The bet is a loser if one pick for a parlay is wrong. Not all parlay payouts are the same. Sportsbooks may have different odds for the number of teams bet in a parlay. This can be very confusing when looking at online sports that have different odds and payouts for the same parlay.
Further, these odds may change at any time so bettors should check with the ticket writer in sportsbook before placing a parlay. Payouts for a parlay are fixed by the time the bet is placed. If the lines change for a game, or games, in the favor of the bettor another parlay may be bet with the new line.
The original bet cannot be changed and the bet will stand. The good news is that the bettor has two live parlay bets. A parlay is a type of sports bet and there are different variations of this kind of wager. The most common types of parlays are Round Robin parlays and Teasers.
A Round Robin bet is placing multiple parlay wagers at once.
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