Parlay Bets
The parlay attracts many novice bettors to bet on games because they are offered large odds for a small bet. The most common parlay bet is a 3 team parlay. In a 3 team parlay, the bettor picks three teams or sides that they want to bet and then all 3 teams together act as one bet. Let’s look at an example below.
In our example we will use a NFL bettor looking to parlay three teams. The bettor’s picks are listed.
- San Francisco +9
- Detroit +6
- New England -3
From there you can go to your favorite offshore sportsbook and place a parlay bet. You would enter all three teams and probably get odds offered to you around 6-1. So if the bettor puts $100 on this parlay and all three teams cover the spread, then they would win $600.
To a new bettor this seems like a great idea, and a good way to win a lot of money. However, there is an advantage for the house in every parlay that you bet. If you go 2-1 wagering separately on three games, you will win money. If you go 2-1 in a parlay, you lose money. Over the long haul, there is no way to make money betting parlays.
Parlays are meant to be fun bets and I throw them in every once in a while, but don't get too carried away with them. Below are the standard parlay odds that you will find at most sportsbooks.
# of Teams Odds # of Teams Odds
2 13 to 5 9 150 to 1
3 6 to 1 10 300 to 1
4 10 to 1 11 450 to 1
5 20 to 1 12 600 to 1
6 40 to 1 13 750 to 1
7 75 to 1 14 900 to 1
8 100 to 1 15 1500 to 1
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