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.

What is parlay betting?

Parlay betting is a form of sports wagering where multiple bets (also known as legs) are combined into a single bet. To win a parlay, all individual legs of the bet must be successful; if any leg loses, the entire parlay is lost. This type of betting is popular because it offers the potential for high returns from a relatively small stake. The total payout of a parlay is determined by multiplying the odds of all individual legs together, which can lead to significant payouts, especially as more bets are added to the parlay.

How do you calculate a push in a parlay?

When it comes to a ‘push’ in a parlay (when one of the bets neither wins nor loses, typically when the event ends exactly on the spread or total), that leg of the parlay is usually removed from the calculation, and the parlay is recalculated based on the remaining legs. For example, in a four-leg parlay, if one leg results in a push, the parlay becomes a three-leg parlay, and the payout is recalculated accordingly.

What bets can be parlayed together?

Almost any type of bet can be parlayed together, as long as they are independent events. This includes point spreads, moneylines, totals (over/under), and even prop bets in some cases.

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