Parlay betting strings multiple wagers into a single bet, improving the payout when you successfully predict all outcomes. Essentially, you’re parlaying the winnings of each bet into the next wager, resulting in a progressively larger payout. A single incorrect prediction will ruin your ticket, increasing the risk compared to betting on single games.
Use the Bet card as Parlay Calculator
Did you know that if you go to SpinSports and click any odds in the sportsbook, the bet card will double as a parlay calculator for you? Click all the games you want to add to your parlay, fill in your stake and the bet slip does the rest. This is another benefit of playing online compared with playing offline.
One of the most important aspects of sports betting involves measuring risk versus reward. When sizing up a multi-bet opportunity, utilizing a parlay calculator helps to verify the value of your bet, while double checking the numbers offered by your sportsbook. The odds in the payout 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 payout.
13 to 5
6 to 1
10 to 1
25 to 1
40 to 1
75 to 1
150 to 1
300 to 1
700 to 1
1,100 to 1
1,800 to 1
3,500 to 1
5,000 to 1
10,000 to 1
Round Robin Parlay
A Round Robin bet is an easy way to wager multiple parlays with a single bet. They make it easy for bettors to place parlays that consist of 3-8 lines and 2-6 teams. Bettors can cover their bases and wager all possible combinations by using a Round Robin and bet many parlays at once. It is a simple way of making many parlays.
How to read round robin parlay options?
In the slip above, the first option (1’s x 6) offers 1 parlay of 6 lines at a cost of 1 x stake, the next option (6’s x 5) offers 6 parlays of 5 lines costing 6 x stake, the next 15 parlays of 4 lines costing 15 x wager and so on.
How To Use Parlay Calculators
Prepare a list of wagers which you’re interested in betting on, including their odds of winning. Sportsbooks display their odds in different formats.
The parlay calculator might accept a specific format, such as American odds or British values. Some allow you to switch between formats by clicking a button on page.
If the calculator you select uses only a single format, you might need to translate between American, British and international standards.
When you know the games you want to parlay, and the amount you’re willing to bet, simply enter the numbers into the calculator. Since your bet multiplies, you don’t need to worry about the order of the bets placed. Some calculators will limit the number of bets you can enter, but you should be able to find one which allows longer parlays.
Each individual bet you make within a parlay must be calculated when determining the potential winnings for your wager. If a parlay includes three events, you’ll need to multiply the odds of the first part of the wager before rolling the initial stake and the winnings into the next part of the parlay. A seven-bet parlay would involve the multiplication of seven individual results, rolling each of the previous wagers into the next.
For an example, we’ll use a three-bet parlay involving three team who have odds of +200, +100 and -300. A $100 wager on +200 would result in a $200 payout, +100 pays out $100, while -300 results in a $33.33 winning.
When these three bets are parlayed, the winnings and the original stake combine into the next wager. As a result, the first bet wins $200 for a $100 wager on +200, while the second wager takes the $300 total and wagers it at +100, increasing the payout to $500. The third part of the parlay involves a -300 bet for the original $100 wager along with the $500 payout, lifting the overall payout to $700 on your initial $100 bet.
Computers perform these calculations faster than most humans, which make parlay calculators a very useful tool when attempting to determine the value of a parlay bet. Sometimes, scaling back a parlay by one or two wagers doesn’t affect the payout greatly, while improving the odds of winning the parlay. Comparing parley outcomes helps provide context for your decision.
Types Of Sports Betting Parlays
Accumulators, Special Offers & Pushes
Some sportsbooks will advertise parlays as accumulators or another moniker, referring to the fact that the payout of a winning parlay accumulates rapidly.
Occasionally, sportsbooks sweeten the offer by adding extra incentives. In some cases, the site will allow you to earn money on large parlays by returning a profit if one of the bets doesn’t win. Pushes do not cause your parlay to lose. Instead, it removes the wager from the equation entirely. A two-bet parlay in which one wager wins and one pushes turns into a straight up wager.
Pro-Line & Government Sports Betting
Provincial sports betting games such as Pro-Line require players to bet on a minimum of three games to win their ticket. Due to laws which prevent single game wagers, bettors must play parlays at reduced rates.
Not all sportsbooks allow correlated parlays, but they’re an interesting method of doubling down on a specific matchup. For example, if you wager on a regulation win for a favorite and parlay that bet with the spread, you’ll multiply the odds of both. A victory for the favorite’s likely to include beating the spread, two correlated events which you may be allowed.
In some cases, you’ll be able to adjust your bet slightly to increase the odds of your parlay winning. If your parlay consists of seven spreads, you can give or take points to reduce risk and payout. Since parlays already pay well, teasing the spread slightly can make the difference between a big win and a bad beat.
Why Make Parlay Bets?
The ability to string numerous bets together greatly increases payout compared to betting on each game individually. As you increase the number of wagers involved in your parlay, your original stake grows into a larger wager with each bet added.
When the number of bets in your parlay approaches double digits, a $20 bet has the potential of snowballing into a five-figure payout. Certainly, winning a ten-game parlay presents challenges, but it’s possible to pick and choose moneylines, spreads, over/unders and props which reduce the risk.
High-risk, high-reward parlays aren’t the only way to play. Selecting parlays which involve two or three bets can increase profit noticeably without adding too much risk. A $20 parlay involving odds of +125, -120 and +175 would produce a payout of $206.88. The opportunity to return ten times your original investment on reasonable bets shows the potential value of parlays.