What is a parlay and how to profit betting them?

BMR_Brad

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I guess it depends on how and why you bet them.

If it is simply to minimize risk whilst maximizing potential winnings, then the long term math probably says you will lose. But if you bet to enjoy the game more it's also probably a good way to lose less for the average Joe too.

That said, if you are a great capper and can find multiple +EV (Positive Expected Value) bets to parlay, you are multiplying that advantage and long term you will win more that way than single bets. The problem there is that very few bettors can really define the EV of bets accurately. And if you get it wrong, then by parlaying you are multiplying the -EV (Negative Expected Value) and will therefore lose faster by parlaying.

Big bettors sometimes use them to get more money down than straight bet limits will allow as well.
 

Wagerallsports

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I guess it depends on how and why you bet them.

If it is simply to minimize risk whilst maximizing potential winnings, then the long term math probably says you will lose. But if you bet to enjoy the game more it's also probably a good way to lose less for the average Joe too.

That said, if you are a great capper and can find multiple +EV (Positive Expected Value) bets to parlay, you are multiplying that advantage and long term you will win more that way than single bets. The problem there is that very few bettors can really define the EV of bets accurately. And if you get it wrong, then by parlaying you are multiplying the -EV (Negative Expected Value) and will therefore lose faster by parlaying.

Big bettors sometimes use them to get more money down than straight bet limits will allow as well.
God info here
 

Wagerallsports

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What is a Parlay?​

A parlay is a single wager that features multiple selections. These selections are known as legs. It is referred to as an accumulator, or an acca, in some countries.

The idea is to roll multiple predictions into a single bet in an effort to generate a large profit. Each selection must prove correct in order for your parlay to pay out. If just one leg lets you down, your parlay will crash and burn. However, if they all pay off, you will earn a far larger profit than you would have made by betting on each selection individually.

For example, you could bet $10 on the San Francisco 49ers to cover the spread against the LA Rams at odds of -110, $10 on the New York Giants to cover against the Dallas Cowboys at -110, and $10 on the Seattle Seahawks to cover against the Arizona Cardinals at odds of -110, for a total stake of $30.

If all of your predictions were successful, you would earn a profit of $29.70. However, if you rolled all three into a $30 three-team parlay, you would earn a profit of $178.74 if all three selections were winners.

That assumes that you are getting a fair parlay payout at your sportsbook. You can use our parlay calculator to ensure that is the case.

How Are Parlay Odds Calculated?​

True parlay odds are calculated by figuring out the return you stand to earn on each selection and multiplying those figures together. The easiest way to manually calculate the combined odds on a parlay bet is to convert each selection from American odds to decimal odds.

For example, let’s say you are interested in combining these selections:

#1. Atlanta Braves to beat Toronto Blue Jays at -150 (1.67 in decimal odds)
#2. Philadelphia Phillies to beat Washington Nationals at -108 (1.93)
#3. New York Yankees to beat Tampa Bay Rays at -131 (1.76)
#4. Arizona Diamondbacks to beat Miami Marlins at +105 (2.05)


You would then multiply these money line odds together: 1.67 x 1.93 x 1.76 x 2.05 = 11.62. That tells you the odds on this four-team parlay should be 11.62, which is +1062 in the American odds format.

You can use Bookmaker Review's free parlay calculator and read more by clicking here:
Free Parlay Calculator
 

ScottyBaseball

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I remember when I was Young, and Dumb

Sunday, down money for the week and looking to get even
Fire away, 5,6,7 or even 8 team parlay's!!
Most of the time it doesn't work, but around 2003 one Sunday I hit a bunch of them
got out of the hole and then some.
Probably will never repeat that again. lol
 

BMR_Brad

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What is the difference of round robin and a parlay wager? I'm a bit confused with these two.

If you pick out 3 or more games to parlay (acca) some books will offer the round robin option.

It's just an automated way to play all possible parlay combinations with those picks.

Game A + Game B
Game A + Game C
Game B + Game C
Game A + Game B + Game C

So a Round Robin of a 3 game parlay would end up in 4 separate parlay bets.
 

Bubbles

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If you pick out 3 or more games to parlay (acca) some books will offer the round robin option.

It's just an automated way to play all possible parlay combinations with those picks.

Game A + Game B
Game A + Game C
Game B + Game C
Game A + Game B + Game C

So a Round Robin of a 3 game parlay would end up in 4 separate parlay bets.
But I need to win all the wagers in round robin to win my wager? Like one lose and everything is already a lose wager?
 

BMR_Brad

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But I need to win all the wagers in round robin to win my wager? Like one lose and everything is already a lose wager?

No, you just need 2 games to cash one of the 4 round robin bets.

Which if all bets were at -110 for 1unit each (making a 4 unit total round robin bet), would pay back 3.61 units.

Not quite enough to cover the 4 unit total bet, but almost break even.

If you won all 3 games you would be paid out a total of 17.6 units (13.6 units profit)


By comparison, if you had played 4 units on just 1 parlay of the 3 games, you would lose all 4 units if 1 game lost, but would collect 23.4 units in profit if all 3 won.

So a 3 game round robin gives you a safety net if 1 game loses but only pays out around 60% of the profit if all 3 games win.
 

TresaLonghi

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