The parlay bet is a type of wager where you choose at least 2 wagers and sometimes up to 15 wagers and these are combined into a single bet. The attractiveness of the parlay is that your pay out odds go up dramatically. For example let’s say you choose to “play” a 5 team parlay on the upcoming NFL games. You would select your 5 teams you want to include into your parlay and make your wager. At most places a 5 team parlay would pay out 25/1 or on a $10 wager you would win $250. In order to win you have to win all 5 games you included within your parlay. Your selections include the odds at the time you made the wager for each of your games so you have to cover the spread one each game for the game to be a winner. In the event of a tie, the game is canceled from your parlay and your games parlay bet is calculated as if the tie game never existed.
EXAMPLE 1 (5 team parlay)
A) Win: All 5 of your teams win by covering the spread, you would win 25/1*
B) One game is a tie: One of your games is a tie. For example the game is Packers -7 vs Seattle and you choose the Packers and the game ends Packers 7 and Seattle 0, this game is a tie. The way this parlay bet would be graded is they would remove it from your wager, your original 5 team parlay is now a 4 team parlay and if you win the other 4 games you would win 10/1*
Different sports books may have minor requirements but most operate under these standard rules. If you have a 2 team parlay and you lose one game or tie one game it is a loss because there is no such thing as a 1 team parlay. See the table below for all parlay payouts.
Parlay Round Robin
A round robin is a version of the parlay which enables you to place bets on all two game combinations within your parlay much like you do when betting at the horse races. The standard rules apply.
Thing to look for when placing a parlay bet
Not all sports books offer the same rules. Some books may maximize the amount of teams to bet at 10 while in the table below they allow up to 15 teams. Most books also have a maximum payout amount so make sure you are familiar with the specific rules of the sportsbook from which you are making this wager.
Parlay special offers are available. A good example of the “Parlay Series” promotion being offered by Bovada Sportsbook. In this offer they do special weekly parlay offers like the “One Miss” where if you loose only one game of your parlay that week they refund your wager. These specials really add to the fun of playing and winning your parlays.
PARLAY PAYOUT ODDS
|# Of Teams||Payoff Odds||# Of Teams||Payoff Odds|
|2||13 to 5||9||150 to 1|
|3||6 to 1||10||300 to 1|
|4||19 to 1||11||500 to 1|
|5||25 to 1||12||750 to 1|
|6||40 to 1||13||1000 to 1|
|7||75 to 1||14||1500 to 1|
|8||100 to 1||15||2000 to 1|