Before we go any further, we need to explain what a parlay is fully.
Parlay Ticket Football
VIEW FOOTBALL PARLAY CARD SAMPLES. 2-,3-, and 4-card per sheet formats. Parlay and Teaser options. 1- and 2-sided formats. 8.5 inch, 11 inch, and 14 inch card options. Whole number and half point card options: Ties Lose and Ties Push. All parlay card formats come in PDF or Excel (Excel files are editable).
- A winning ticket on a 10-team parlay pays out immensely even with the massive edge by the sportsbooks. A $100 wager has potential winnings of $30,000 which is a nice chunk of change for the sportsbooks to payout. Also, parlays are high odds bets with a low rate of success and will increase variance more so than straight wagers on sides and totals.
- By definition, a parlay is a group of multiple individual bets (two or more) that are connected together and treated as one big wager. In order to win the entire bet, you have to win each of the individual bets on your parlay. If you lose one individual bet, then you lose the entire parlay bet.
- The best parlay betting sites offer all major sports like basketball, hockey, football and baseball. Convenient banking is an important part of reputable parlay betting sites. Members need to be able to make deposits easily to place parlay bets whenever desired, and cashout winning tickets without hassle.
- 1 day ago What is a parlay, and how can I build one with a prop bet? A parlay is a bet ticket that includes multiple wagers.All the individual wagers on a parlay must hit or the ticket is a loser. Parlays are long-shot bets that offer the chance of scoring a substantial payday with a relatively small investment. A prop bet is a bet made on an event/occurrence during a game that does not directly affect.
In order to win the entire bet, you have to win each of the individual bets on your parlay. If you lose one individual bet, then you lose the entire parlay bet.
The reason is that the sportsbook will pay you out much more money for correctly picking multiple individual bets together.There is more risk in this type of bet so it should be expected that we are offered a higher reward for making this wager.
Let’s compare betting three games individually versus betting them as a parlay.
Let’s assume that each game is -110 moneyline odds.
Let’s also assume that our bankroll for these three games is $300. We’re going to look at the scenarios if we picked all three games correctly and if we only picked two of the games correctly.
If we bet the games individually, we would bet $100 per game.
Game | Bet Amount | Odds | Outcome | Profit/Loss |
Game 1 | $100 | -110 | Win | $90.91 |
Game 2 | $100 | -110 | Win | $90.91 |
Game 3 | $100 | -110 | Win | $90.91 |
Now, what would happen if we picked all three games as a parlay bet? This time, we would place a single bet of $300. We will go over how to calculate parlay payouts in the section below here, but for now, we have done the calculations for you.
The profit on this bet as a parlay would be $1787.40! Even if we only bet $100 total, we would see a profit of $595.80. As you can see, you can bet 1/3 of the amount you bet total in the individual games and still make more than double what you would betting the games individually.
At this point, a lot of people are wondering why you would ever bet anything but parlays. You can bet less and make so much more! Well, as you are probably guessing, there is more to the story.
Let’s look at what happens in our same example, except this time we only pick two out of the three games correctly. We bet the same games again for $100 each individually, and we are correct on two out of the three games.
Game | Bet Amount | Odds | Outcome | Profit/Loss |
Game 1 | $100 | -110 | Win | $90.91 |
Game 2 | $100 | -110 | Win | $90.91 |
Game 3 | $100 | -110 | Loss | ($100.00) |
If we bet all three of the games as a parlay for $300 (or $100), our profit is negative $300 or negative $100. If you get even one game wrong in a parlay, you lose the entire bet. You’ve now seen the downside to parlays.
Even if you only get one game correct betting them individually, you’re only going to lose $109. If you bet the same $300 on a parlay, though, you lose the entire $300. The risk is higher for parlays, but the associated reward is also higher.
A parlay is a type of wager where multiple outcomes are selected. Each of the outcomes must win in order for the parlay to win. Any point spread tie reduces to the next lowest number of teams in the parlay. The odds for the number of teams placed in a parlay are based on the pay table below when the selections (point spreads and totals for football and basketball, games and segments) have a default line of -110. Listed below is the BetMGM/Borgata Online pay table.
All Football and Basketball Parlays
(Point Spreads and Totals all - 110)
2 Teams | +260 |
3 Teams | +600 |
4 Teams | +1000 |
5 Teams | +2000 |
6 Teams | +4000 |
7 Teams | +8000 |
8 Teams | +15000 |
9 Teams | +30000 |
10 Teams | +60000 |
11 Teams | +110000 |
12 Teams | +200000 |
13 Teams | +300000 |
14 Teams | +600000 |
15 Teams | +1000000 |
Parlay Odds Selections:
The legs in a Pay Table parlay all must meet the following requirements:
- Football, basketball (excluding money lines) and their halves or quarters
- Point spread or totals
- Default odds that are set at -110.
Maximum payoff on off the board parlays is 10000/1. Acceptance of all parlays is at the discretion of management.
Example 1: The 2-team parlay (See picture below) is a standard parlay paying 2.6 to 1 or 3.6 for 1. Using the Pay Table, $10.00 x 3.6 = $36.00 payout. Pay Table parlays are not calculated using “true odds” (-110 is not .9091 in this case). The Pay Table Multiplier section below explains the way that Pay Table odds are calculated.
PARLAY (2 TEAMS) | |
---|---|
1 PARLAY @$10.00 | |
24Jan PRO FOOTBALL | |
[302] COLTS | -71/2-110 |
22Jan PRO BASKETBALL | |
[702] BOBCATS | -6-110 |
Ticket Cost: | $10.00 |
To Win: | $26.00 |
Collect: | $36.00 |
WRIT2 SR_POS2 | 22Jan18 11:02:40 |
Pay Table Multiplier
This is the factor that, when used for each leg of a parlay, gives the Pay Table payout. For a 2-team parlay at default odds, the factor is a square root. For a 3-team parlay, it is a cube root, for a 4-team parlay, it is the 4th root of the payout.
The return on a 2-team Pay Table parlay at 2.6 to 1 is 3.6 for one, as the payout. The square root of 3.6 is 1.8974. This is the Pay Table Multiplier for 2-team parlays.
$10 X 1.89736 X 1.89736 = 36.00.
Below is the pay table multiplier which is used as the method to calculate pay table parlays when the default odds are -110.The respective Pay Table Multiplier (shown below) by the True Odds Multiplier of the number (other than -110) minus the True Odds Differential (shown below).
2 Teams | 1.89736 |
3 Teams | 1.91293 |
4 Teams | 1.82116 |
5 Teams | 1.83841 |
6 Teams | 1.85693 |
7 Teams | 1.87344 |
8 Teams | 1.87228 |
9 Teams | 1.88536 |
10 Teams | 1.89621 |
11 Teams | 1.89027 |
12 Teams | 1.88409 |
13 Teams | 1.87339 |
14 Teams | 1.86154 |
15 Teams | 1.84786 |
Non-Pay Table Parlays
Parlay Ticket Winner
We use the term Non-Pay Table parlay when at least one leg does not meet requirements 1 and/or 2 of the Pay Table parlay default odds section above.
Sports like Boxing, Baseball, and Hockey use Non-Pay Table Odds. Football money line bets also use them. The True Odds Multiplier section below explains the way that Non Pay Table odds are calculated.
Example 2: The 2-team parlay below uses the True Odds Multiplier because neither leg meets the Pay Table requirements, so $10 x 1.9091 x 1.9091 (rounded) = $36.45 payout.
PARLAY (2 TEAMS) | |
---|---|
1 PARLAY @$10.00 | |
30Jan PRO HOCKEY | |
[2] CAPITALS | -110 |
28Jan BOXING | |
[3605] MAYWEATHER | -110 |
Ticket Cost: | $10.00 |
To Win: | $26.45 |
Collect: | $36.45 |
WRIT2 SR_POS2 | 22Jan18 16:26:24 |
Example 3: The 2-team parlay below uses the Pay Table Multiplier for 105 because it meets all other requirements for Pay Table Odds (see Pay Table Parlays above). Note: The root for the Pay Table Multiplier is based on only the number of legs that meet the requirement. It usesthe True Odds Multiplier for 107 (-1/-120 = .8333) because that leg does not meet requirement 2. Although it is a Football game, it is a money line wager.
$10 x 1.9091 x 1.8333 = $35 payout.
PARLAY (2 TEAMS) | |
---|---|
1 PARLAY @$10.00 | |
Jan 08 NFL | |
NFL WILDCARD PLAYOFFS | |
[105] FALCONS | +3-110 |
Jan 08 NFL | |
NFL WILDCARD PLAYOFFS | |
[107] STEELERS | -120 |
Ticket Cost: | $10.00 |
To Win: | $25.00 |
Collect: | $35.00 |
TIMW BODINES T01 | 5Jan18 09:35:56 |
Pay Table Non-Default Odds
We use the term Pay Table Non-Default Odds when all legs meet requirements 1 and 2 of a Pay Table parlay: 1) Football, basketball, and their halves or quarters 2) Point spread or totals, but at least one leg does not meet requirement 3 because it hasodds that are not equal to the default odds.
Pay Table Non-Default parlays are not calculated using “true odds” (-120 is not .8333). The True Odds Differential section below explains the way that Pay Table Non-Default odds are calculated.
Example 4: The 2-team parlay below uses the Pay Table Multiplierfor default odds for 302 (which meets all the requirements of a Pay Table parlay like Example 1 above). However, the other leg (304 Saints) has non-default odds -120, so a factor called the True Odds Differential is used to adjust the True Odds Multiplier of the -120 to derive the new Pay Table Multiplier for non-default odds -120.
$10 x 1.8974 x 1.8216 = $34.56 (rounded to nearest nickel $34.55)
PARLAY (2 TEAMS) | |
---|---|
1 PARLAY @$10.00 | |
24Jan PRO FOOTBALL | |
[302] COLTS | -71/2-110 |
22Jan PRO FOOTBALL | |
[304] SAINTS | -3-120 |
Ticket Cost: | $10.00 |
To Win: | $24.55 |
Collect: | $34.55 |
WRIT2 SR_POS2 | 22Jan18 11:03:11 |
True Odds Differential
The only time that the True Odds Differential is used is when a leg contains a Pay Table sport that has non-default odds for point spread or totals (Example 4 above has -3-120 instead of -3 -110).
Calculating the True Odds Differential for a Non-Default Odds leg when default odds = -110
(True Odds Multiplier of -110) - (Pay Table Multiplier of -110) = True Odds Differential
Parlay Ticket Print Out
1.9091 - 1.8974 = .0117
Calculation to find the Pay Table Multiplier for Non-Default odds -120 in Example 4
True Odds Multiplier of -120 = 1.8333 – True Odds Differential = . 0117
Pay Table Multiplier of -120 = 1.8216
The only exception for not using the true odds differential is when the pay table multiplier exceeds that of true odds (-110 or .9091).
Calculations to find the True Odds Multiplier
When the Leg is a Favorite
When laying odds (money line is less than 0): (-1) x (100)/ (money line) +1.
Example: True Odds Multiplier for Money line: -110: (-1) x ((100)/ (-110)) +1 = 1.9091
Delaware Parlay Tickets
When the Leg is an Underdog
When taking odds (money line is greater than 0): (money line)/ (100) +1 Example:
Football Parlay Ticket
True Odds Multiplier for Money line: +130 = ((+130) /(100)) +1 = 2.3