What is a Parlay ?
A parlay is a single bet that links together two or more individual wagers for a high payout. It’s a type of wager that gives bettors the opportunity to combine their bets on two or more different games.
The allure of this betting style is the higher potential returns, as the odds of each bet are multiplied.
It’s a higher risk strategy because if any of the bets in the parlay lose, then the entire parlay loses. Therefore, it’s often seen as a high risk, high reward betting option.
How are the Winnings Calculated for a Parlay?
Calculating the winnings for a parlay can seem complex, but once you understand the process, it’s relatively straightforward.
The potential payout for a parlay is determined by the combined likelihood of all bets placed. In essence, the payout grows exponentially, the more bets you add to your parlay.
In an example where you have a £10 stake on a three-team parlay, and each bet has even odds (2.0 in decimal odds). If all three bets win, your £10 would first become £20 after the first bet.
That £20 would then become £40 after the second bet. Finally, the £40 would turn into £80 after the third bet. Therefore, your initial £10 stake could potentially return £80 in a three-team even odds parlay.
It’s crucial to remember that all bets within the parlay must win for you to see a return. If even one bet loses, you lose the entire parlay.
