Payouts will increase and decrease with the number of games added to the parlay but also with the varying odds for those bets.

Using standard -110 vig for point spread and totals, these are the parlay payouts for a $100 wager: The size of your parlay payout depends on how many bets are involved and the individual odds for those bets. Using the standard -110 vig for point spread and totals bets, these are the odds of winning your parlay based on the number of bets involved: Parlay betting is a high-risk, high-reward wager and the more bets involved the slimmer the odds of hitting the parlay. Multiplying those odds gives you 6.96 and with a $100 wager on the parlay, the total return would be $696 (6.96 x $100) – a win of $596. If you’re wagering $100 on the parlay, you should have multipliers of 1.83, 1.77, and 2.15 for those individual bets. Then you times those multipliers by each other to get the parlay odds.įor example, a three-team moneyline parlay involves bets of -120, -130, and +115. Parlay odds can be calculated by dividing the total return amount (win + wager) by the wager amount to get a decimal multiplier (also known as European odds) for each bet involved in the parlay. Even if two of these three bets win and only one loses, the overall parlay loses. In order for this three-team parlay to win, the Chiefs must win by at least 11 points, the Cowboys must win by at least three points, and the Buccaneers must win outright or lose by less than four points.

The parlay involves three spread bets: the Dallas Cowboys -2.5, the Tampa Bay Buccaneers +4, and the Kansas City Chiefs -10. 3-team parlayĪs an example, this is a three-team NFL parlay. However, that increased risk is reflected in the parlay odds. Parlays tie together multiple bets and because all the bets involved must win for the parlay to pay out, the risk is much higher than a single-game bet.

Sports betting parlay definition