A parlay bet is a popular and exciting type of wager in sports betting where you combine multiple individual bets into one single bet. The appeal of a parlay bet lies in the potential for higher payouts compared to placing individual bets, as the odds for each selection are multiplied together. In this guide, we will explain what a parlay bet is, how to read parlay odds, and provide examples of parlay bets across MLB, NFL, NBA, and NHL.
What is a Parlay Bet?
A parlay bet involves combining two or more individual bets into a single wager. In order to win a parlay bet, all of the individual bets within the parlay must be correct. If any of the selections lose, the entire parlay bet loses. The potential payout for a parlay bet is calculated by multiplying the odds of each selection together. Parlay bets can include a mix of different bet types, such as money line, point spread, and over/under bets.
How to Read Parlay Odds
Parlay odds are typically displayed in the following format:
Team A -110
Team B +150
Team C -120
If you were to place a parlay bet on Teams A, B, and C, the odds for the parlay would be calculated by multiplying the odds together. In this example, the parlay odds would be (-110 x 150 x -120), resulting in a total parlay odds of +1980.
Parlay Examples Across Major Sports
MLB:
New York Yankees -1.5 (-110)
Boston Red Sox +150
Over 9 Runs (-120)
If you were to parlay these three selections and they all win, the total parlay odds would be calculated by multiplying (-110 x 150 x -120), resulting in a total parlay odds of +1980.
NFL:
Kansas City Chiefs -7.5 (-110)
Denver Broncos +3.5 (+120)
Under 48.5 Points (-120)
If you were to parlay these three selections and they all win, the total parlay odds would be calculated by multiplying (-110 x 120 x -120), resulting in a total parlay odds of +1584.
NBA:
Los Angeles Lakers -5.5 (-110)
Golden State Warriors +5.5 (+150)
Over 215.5 Points (-120)
If you were to parlay these three selections and they all win, the total parlay odds would be calculated by multiplying (-110 x 150 x -120), resulting in a total parlay odds of +1980.
NHL:
Toronto Maple Leafs -1.5 (-110)
Montreal Canadiens +150
Under 5.5 Goals (-120)
If you were to parlay these three selections and they all win, the total parlay odds would be calculated by multiplying (-110 x 150 x -120), resulting in a total parlay odds of +1980.
In conclusion, parlay bets offer the opportunity for higher payouts by combining multiple individual bets into one wager. By understanding how parlay bets work, reading parlay odds, and making informed selections, you can increase your chances of making successful parlay bets.