How do parlays payout

According to that parlay option, the chance that all four will beat their spreads is nearly Using actual underdogs or adding extra legs to the mix will just lengthen the odds further. However, look at the effect those small changes have on our parlay outlook:. Adding an extra leg creates an even more profound difference. Notice that our choice is receiving a larger portion of wagers right now, too. In other words, the smart money is betting on the Thunder at this time. That one addition almost doubled our risk!

You can only imagine how much riskier a parlay with more than 10 legs must be. However, remember that the displayed ratios are payouts, too. How do you place a parlay bet? You can choose any number of sports and any type of bets, but legs cannot be correlated with one another. In other words, you cannot pick the moneyline and the point spread for the same game as two of your legs, since those two outcomes are not completely separate from each other. If you are sports betting online or using a kiosk, your betslip will auto-populate with your selections and your betting options.

Parlays should pop up as soon as you choose your second leg, along with the moneyline payout ratio for the parlay. How do parlay odds work? As you can see, the only way to win is for both teams to cover, but you are not penalized any more for losing both bets than for losing just one. Rather, the bet is considered a loss as soon as one leg of your parlay has lost. Parlays can also consist of more than two teams, with the same rules applying. If only four teams in a five-team parlay cover, for example, it would be considered a loss, just the same as if only one of the five covered.

If you would like to learn more on how to help you bet smartly on football, here is a recommended resource list:. So you bet Ravens , Saints , and Chiefs While the payouts are certainly appealing, the odds are not as high as they should be given the true chances of a given parlay winning. Comparing the percentages may not do justice to the difference between the implied and true probabilities at first glance.

I mean, the odds of hitting a five-team parlay are only 0. Instead, consider that the 2. A single bet, for comparison, implies the outcome is just 4. Check out more about this matchup here. The only real difference between them is that sometimes you can find reduced juice on sides at one book and not another. A true correlated parlay would back both sides of the same contest to ensure at least two victories.

Parlays are nothing more than exotic wagers dressed up to look like standard wagers. Just remember — parlays require perfection and patience.

Parlay Bets Parlay bets are popular because they offer huge payouts and create an exciting amount of risk for the bettor. What Are Parlay Bets? Basic Parlay Strategy Here are some tips to get you started down the path of parlay wagering success: Look for the best odds.