This bet is very similar to the standard parlay, except that you still have the simplicity of the money line to work with. The second type is the aggressive money line parlay which a high risk and high reward version. This is the type of bet you can use when you are looking to strengthen your bankroll, and not have to worry too much over the games involved. The neutral money line parlay is a low risk and low reward type of bet.
The first type is an aggressive money line parlay and a neutral money line parlay. There are two main types of money line parlays. These two benefits combined together are easy to use and easy to control. There is no worrying whether teams will win by 1 or 100. The simplicity of the money line is that you pick a team based on the fact that you think they are going to win. Money line parlays have two main benefits: the exponential value of parlays and the simplicity of money lines. Money line parlay betting is one of the best tools a bettor can use. To figure out our parlay calculation with a +105 bet added into the equation, we simply multiply each wagering modifier. For a +105 wager on a $100 bet, using the same math, we come back with 2.25. To calculate this, we can divide 210/110 and get 1.909. For a -110 bet, our $110 stake returns $210 on a winning wager, the $110 stake and $100 profit. We simply take the amount risked versus the amount won on a winning wager. The math here is relatively straightforward. To do this, we need to calculate each leg of the bet in the form of a multiplier. At most online sportsbooks in the US market, bettors can add a single selection to the parlay that isn’t the standard -110 to force a fair calculation.
Sportsbooks have fixed odds they use for parlays, and these numbers are all based on -110 pricing for each wager or leg. A pretty known strategy to incentivise more bettors to get in on the action. They make so much money off gamblers every year on parlays, that they will often publicize when someone hits a big parlay payout in hopes that others will follow their lead. Recreational bettors love wagering large parlays, and the bookies are happy to take their action. The higher the number teams, the bigger the end held by the oddsmakers. We can quickly draw from the true odds that parlays above four teams are almost never worth considering. You still should not be betting more than 2-3 team parlays, but getting a wager in there that has odds different than -110, such as -105 or -115, will undoubtedly improve your bottom line profits.ĭue the gargantuan payouts that bigger parlays have, the books increase their edge on these wagers by lowering the payouts. Forcing a true odds calculation is one of the best ways to improve your winning percentage when it comes to betting parlays. This will improve the parlay odds and force a calculation to the true odds. However, if one of the legs in the parlay has odds that differ from -110, then the sportsbook will usually alter their calculation. Sportsbooks use the above odds to calculate parlays when all legs or wagers of the bet have -110 vigorish or juice. It should also be noted that some operators offer parlays up to 20 teams. Sticking to 2-team and 3-team parlays is the way to go in this market. However, if we look closely, their margin is much smaller on 2 and 3-team parlays than say a 7-team parlay. It’s should be obvious based on the data above that the sportsbooks always have an edge when it comes to parlays. So, while there still is an oddsmakers edge, it’s considerably smaller the closer we get the true odds. The true odds calculation is straight bets made on the same amount of wagers, with the profits rolled over for each bet. There is still traditional vigorish attached to these wagers. It’s vital to note, however, these are not the accurate odds in the sense that the oddsmaker’s edge is zero.
In the table below, we’ve calculated the true odds of parlay wagers compared to the average sportsbook’s payouts. Sportsbooks that grade pushes in parlays as losses (there are very few that do this) should be avoided. Some may revert the parlay into a straight wager and grade the bet a winner while others will return all stakes and grade the bet as a push. If one leg of a 2-team parlay pushes and the other bet wins, sportsbooks differ on how they handle the wager. For example, if we bet a 3-team parlay, and one of the bets pushes, the wager becomes a 2-team parlay with an adjusted payout. In the case of a push, parlays revert to the smaller number of teams.
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