How To Bet Parlays in Sports Betting

If you are new to Sports Betting, start here. Or continue on with this section about Parlays.

For many sports bettors, the parlay bet can be an exciting way to multiply their potential winnings. A parlay bet is a type of wager where multiple individual bets are combined into one single bet. The bettor must correctly predict the outcome of each individual bet in order to win the parlay.

To bet a parlay, a bettor must select at least two individual bets, and they can add as many as they would like. The bets can be a combination of moneyline, spread, or total bets, and can be from the same game or multiple games. The potential payout increases with each bet added to the parlay, but the risk also increases since all bets must win for the parlay to be successful.

Parlay payouts can have extreme profits due to the combined probability of the bets. Here is an example of how the payout is calculated:

Moneyline	Decimal Odds
-110	1.9091
-240	1.4167
-120	1.8333
-130	1.7692

We multiply all of our Decimal odds together to get the combined odds:

1.9091 * 1.4167 * 1.8333 * 1.7692 = 8.7724

Now take our wager of $100 to get the amount you would receive if you won the parlay:

$100 * 8.7724 = $877.24

So our $100 wager wins $777.24 for a total of $877.24

One important thing to keep in mind when betting parlays is that they can be very difficult to win. With each additional bet added to the parlay, the odds of winning decrease significantly. However, if a bettor is able to hit on a parlay, the payout can be much larger than a single bet. It's also important to consider the potential payout versus the risk. While a parlay with a large number of bets may have a big payout, it may be worth considering if the risk is worth the reward.

In conclusion, parlay betting can be a thrilling way to potentially multiply winnings in sports betting. However, bettors should keep in mind the increased risk with each additional bet added to the parlay. It's important to carefully consider each individual bet and the potential payout versus the risk before placing a parlay bet.

To learn more about decimal odds, check out the next section: American Odds in Sports Betting