Parlays involving spreads or game totals will typically have a fixed payout since the payout for each individual spread or game total wager will range from to With this type of parlay, the house edge increases as you include more games in your parlay. Essentially, anything about a three-team parlay will significantly shift the advantage towards sportsbooks. However, a good weekend for a sportsbook can easily be ruined by someone who has just hit and won on a parlay. However, it makes sense since the more teams a sportsbook allows to be included, the higher the risk that one of these parlays will hit, which could potentially put them out of business.
For leagues such as the NHL and MLB where the majority of bets are placed on the moneyline as opposed to the spread, payouts are not fixed. If you wanted to include three moneyline games on your parlay, with the following payouts — 1. In some games, a certain team may try to keep the score low in order to win the game, or there is a huge favorite who will probably put up a lot of numbers on the board while allowing a few pity points to the underdog.
In these scenarios, it might make sense to parlay the team to win outright or cover on the spread and combine this with either the over or the under on the game total. Additionally, when it comes to parlays, it only takes one loss to completely kill off your parlay.
Teasers are wagers in which you can move the point spread in your favor. The only similarity these bets have to parlays is that you can select the number of teams minimum of two teams and maximum of 15 to tease.
NFL teasers changed the spread by six points in your favor, so the point spreads now look like this:. Sportsbooks love parlays because they force bettors to be perfect, which can be hard to do. Before placing your bet, handicap each game you want to include in your parlay picks. However, we at Odds Shark offer the necessary handicapping tools to ensure you have everything at your disposal to make smart bets.
Research each bet and keep an eye on your bankroll. Although parlays offer a larger payout, you still want to ensure you have enough money to keep betting. That's a parlay gambling problem you definitely want to avoid. Though it would be nice to be able to take odds on both sides of the same bet, it's not a typical betting practice. Any two-team parlay would have to contain a spread and moneyline or total instead of two of the same type of bets.
Need more winning picks? The handicapping, sports odds information contained on this website is for entertainment purposes only. Please confirm the wagering regulations in your jurisdiction as they vary from state to state, province to province and country to country. Using this information to contravene any law or statute is prohibited. The site is not associated with nor is it endorsed by any professional or collegiate league, association or team. OddsShark does not target an audience under the age of Please visit gambleaware.
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For others, adding a game or two to their bet ticket boosts the potential payout if they have keyed in on a heavy favorite. Whatever the reason, parlay betting is one of the most popular ways to bet on sports. So, you may be wondering how to read parlay odds. As you probably already know, knowing how to read odds tell you, among other things, how much you stand to win.
As the gap between the two numbers grows, the potential payout on the underdog increases while the potential payout on the favorite decreases. To many experienced bettors, the risk of making this wager starts to outweigh the rewards. Can you imagine how those who backed Mike Tyson against Buster Douglas felt in after putting up large chunks of cash for such small potential payouts?
Even if Tyson won the fight, the reward would have been minimal, to say the least. The great thing about parlays is that they allow you to boost the odds. Of course, the biggest drawback to parlay betting is that you need to get all of your predictions correct. In the above scenario, a loss by either Boston or New York kills your ticket.
Such is the nature of gambling. Parlay bets also give you a shot at a big payday. Many parlay bettors have won huge sums of money by successfully parlaying multiple games with high odds. In , a lucky NFL bettor had a leg parlay consisting of 14 spread picks and a total. The odds ended up being a whopping 20, There are plenty of examples of parlay bets paying massive dividends. You lose if you miss just one pick. Many parlay bettors have experienced an excruciating punch to the gut after the last pick of their multi-leg parlay fell flat.
Calculating parlay odds is a simple exercise if you know how to multiply. Online sportsbooks automatically calculate bets and update your parlay odds as you add each pick to your ticket. There are also plenty of free parlay odds calculators that you can use to figure out parlay odds using American odds, fractional odds, or decimal odds. For those who want to calculate their parlay odds by themselves, the easiest way begins with converting American odds into decimal odds.
The formula is:. Take the decimal odds and multiply them together. For example:. You already know that one of the biggest drawbacks to betting parlays is that you need to correctly predict each leg or the ticket loses. The exception to this rule is combination parlays or combination bets. In a nutshell, combination bets consist of several smaller parlays within a single parlay ticket. Instead of having to get each pick correct, you can make money if only some combinations within the parlay are correct.
Within these four games are four separate 3-leg parlays plus one 4-leg parlay:. Keeping it simple, you would be betting on five separate parlays with each one offering different parlay odds. You could miss one of your predictions and still win money.
So, the best-case scenario would have all four picks winning. The worst case would be if two or more of those teams lost. The ticket would be toast. You can miss one and still make a profit. With our parlay calculator, you can select how you want your odds displayed. Under Odds Type , pick your odds style. Input your first wager in the Bet 1 slot. Click on Add Bet to add the other wagers on your ticket. For favorites, you must add the minus sign - before the odds.
Our parlay number cruncher lets you enter up to bets. However, most sportsbooks will only allow up to team parlays. In the Bet Amount box, input what you want to wager. You decide to take that money to your favorite betting site and create an awesome parlay.
In the parlay number cruncher, you would add for Bet 1 , for Bet 2 , for Bet 3 , and for Bet 4. The calculator does not need the 4. The handicapping, sports odds information contained on this website is for entertainment purposes only. Please confirm the wagering regulations in your jurisdiction as they vary from state to state, province to province and country to country. Using this information to contravene any law or statute is prohibited.
The site is not associated with nor is it endorsed by any professional or collegiate league, association or team. OddsShark does not target an audience under the age of
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