Parlay Bets: What it is and Examples
Parlay bets are a popular form of sports betting that can yield big payouts if all of the wagers win. A parlay bet consists of multiple bets that are combined into one wager. For example, a parlay bet could include betting on the moneyline for two teams, betting the over/under for one game, and betting the spread for another game.
How Do Parlay Bets Work?
For a parlay bet to win, all of the wagers in the parlay must win. If any of the wagers lose, then the entire parlay is lost. This means that parlay bets can be quite risky, but also have the potential to yield large payouts if all of the wagers win. In order to understand how the parlays are calculated, simply switch them to decimal and multiply the given odds. So if you have 2.5, 2 and 1.5 odds, you will get *7.5 (2.5*2*1.5) your initial bet amount back if you win that parlay.
Examples of Parlay Bets
A simple parlay bet might include betting the moneyline for two teams or more. Each bet in a parlay can also be referred to as 'Leg'. So an 8 leg parlay is a bet slip with 8 different bets. A parlay allows you to mix between different betting options, like props, spread, future, total or moneyline. There are also SGPs - Same Game Parlays, which allow you to place multiple bets on a single game. In SGP you can have a moneyline, a half time result, a player to make a TD and another player to rush for more than 100 yards. Parlays are fun, but the more you add betting events (or legs) to your parlay, the lower your chances of making ALL your bets winners. If you'd like to understand more about how your chances of winning look like for certain odds, look at the implied probability section inside our sports betting odds calculator.
Another example of a parlay bet might include betting the over/under for one game, and betting the spread for another. For example, you might bet the over/under for the New York Yankees game, and the spread for the Boston Red Sox game. Both bets must win in order for the parlay to be successful.
Using the BetBasics.com Parlay Calculator
BetBasics has a parlay calculator that can help you determine how much you will win if all of the wagers in a parlay bet are successful. This can be a useful tool for making informed bets and maximizing your potential winnings.
We recommend using the BetBasics.com parlay calculator to make the best bets on parlay bets. With this calculator, you can quickly determine how much you will win if all of the wagers in your parlay bet are successful.
Try out the BetBasics.com parlay calculator.