Football Parlay Odds

I’m sure we’ve all been in a situation before where we stare at the list of games and think to ourselves “if only I could hit a nice 10-team parlay”. Now, depending on the odds of the games you selected or the amount of money actually wagered on the parlay, this bet won’t necessarily make you “rich”. But it could offer up a very nice four or five-digit return. The problem with hitting a parlay that size is that it’s damn near impossible to do. Most experienced bettors refrain from ever making parlay bets. Thankfully, for sportsbooks, parlays will always be a staple of the betting game since there is always the potential of that one big payout every square bettor chases.Bottom of Form

Below you can find an example of a traditional parlay card. This details the typical payouts for up to a 10 team parlay bet based on -110 odds which you’ll get Against the Spread and in Over Under Totals Markets, to a $100 stake. How to Use a Parlay Calculator. With our parlay calculator, you can select how you want your odds displayed. We use American style (-500), but you can choose Fractional (1/5) or Decimal (1.20). Under Odds Type, pick your odds style. Input your first wager in the Bet #1 slot. Click on Add Bet to add the other wagers on your ticket.

Parlay Definition -- What is a Parlay? Parlay Meaning

When you hear someone mentioned the term “parlay” in a sports betting discussion, they are referring to a type of bet that involves two or more teams. In order for a parlay bet to be successful, each team involved must win, or cover the spread – depending on how you bet them. A parlay can also be called an accumulator or a combo bet. Parlays are the most popular bet amongst amateur bettors since it has the potential for the biggest payout.

Parlay Odds

It is extremely hard to pick a winner against the spread. It takes a lot of research and the ability to isolate those few situations where you detect a weakness in the line. The oddsmakers know what they're doing. That's why there are all of those fancy casinos out there. It's harder still to pick two winners, or three, and on and on.

Everybody would like to get maximum return for minimum investment. But things just don't work that way. If you want to bet on football and turn a profit, you need to take the word parlay out of your betting vocabulary. Parlay bets are sucker bets.

You know, winning is great. And losing, well, losing sucks. But breaking even on a couple of straight bets when you would have otherwise lost with a parlay is one of the keys to giving yourself a fighting chance at becoming a profitable sports bettor.

Not only is it very difficult to pick multiple winners without a loser, but you don't even get true odds on parlays.

Here are your typical odds for parlay bets:

2 Teams - 13/5
3 Teams - 6/1
4 Teams -11/1
5 Teams - 20/1
6 Teams - 40/1
7 Teams - 75/1
8 Teams - 150/1
9 Teams - 300/1
10 Teams - 700/1

Say you bet $110 to win a $100 on an early college game and you win and collect $210. If you put that $210 on a late game and you win, you collect almost $401. But if you play a 2-team parlay for $110, and you win, you collect $396.

The difference gets worse the more teams you play. If you took your $401 and put that on a pro game the next day and win, you collect about $795. But if you had played a three-team parlay for $110 you collect $770. Do the math.

Parlay Guy is snickering right now. He thinks that kind of money is 'chump change' (but the casino sees it as pure profit).

When you get into four teams and above, you are getting horrendous odds. Games like Keno provide far better odds if you want to throw darts at 10-teamers.

All of the above is true, but the biggest reason not to bet parlays is that you don't lose the whole enchilada when you pick a loser. Straight bets consistent with your bankroll units ensure good money management. And over the course of a season, that difference is profound and it adds up to a lot of money.

Parlay Guy is always trying to 'get out' with a nice three or four-teamer. But it was his nice two- and three-teamers that got him 'in' in the first place.

Of course, you already knew all of this. But you do it anyway. This year, don't be Parlay Guy. Be the informed and disciplined straight bettor who sidesteps him before he can chew your ear.

Parlay Payouts

Doc’s Sports has a handy Parlay Calculator to determine the true odds of a parlay bet compared to the payout offered by the sportsbook. This is a great way to determine in advance if there is value in a parlay bet you are planning to make.

Are There Different Types of Parlays?

In short, yes. A parlay can have a combination of money line bets, point spread wagers and even include the “over/under” option. Some sports books allow bettors to include different kinds of prop bets, half time wagers and sometimes even future bets.

Depending on the type or parlay you make, the payout could be minimal or significant. A lot of things go into determining the odds, but the main thing you need to know is that not all sportsbooks offer up the same odds.

Are Point Spread Parlays Worth Playing?

Generally speaking, no. Parlays are typically referred to as sucker bets and only attract people looking for one massive payout. The problem with parlays is that the more teams you add, the number of possible outcomes increases. For example, a three-team parlay bet has eight possible outcomes, where only one of those outcomes will make you a winner. Since none of those eight outcomes is more likely than the others, a three-team parlay would need to offer up 7/1 odds in order to break even over the long haul. At 6/1, turning a profit is only doable if a bettor can pick winners at a very high rate – one that is almost unattainable, let alone sustainable.

Parlay Cards

A parlay card is essentially like a lottery ticket form you find at a corner store when you decide to play the Powerball and pick your own numbers. Parlay cards are typically a colored piece of paper at a sportsbook that lists all games and odds for you to choose from. The way you fill it out is rather quite simple. First, you check the box that states how many games your parlay card will be and then you mark each game you want to bet. When you are done marking your card, you can bring it to the betting window and they will scan it and print you out a parlay ticket.

There is nothing worse than getting to the betting window and being stuck behind someone who has no idea what they want to bet and who is looking around at the board to see the lines while they make a $5 three-team parlay. To avoid being that person, use a parlay card. They make the process a lot simpler and much more time efficient. The wait times for lines at the betting window are long enough already, so by using the parlay card you will speed up the process for everyone involved.

Another benefit of using a parlay card is that the card will include all of the rules. They can be slightly different between sportsbooks, so it’s crucial you understand the rules at each unique book. The most important rule you need to understand is that books often deal with ties differently – some will count them as losses. Parlay card also include set odds for parlays of different sizes. Again, these odds can be slightly different between books, but for the most part look like this:

2 Team Parlay: 13 to 5 Odds

3 Team Parlay: 6 to 1 Odds

4 Team Parlay: 10 to 1 Odds

5 Team Parlay: 20 to 1 Odds

But parlay cards can be dangerous. The main goal of any sports bettor is to protect their bankroll and make wise investment decisions. The parlay card goes against that model as it makes it really easy to make a terrible bet. Sportsbooks make it as easy as possible for people to make these bets because they know over the long terms, this option provides solid cash intake. And lastly, the parlay cards often offer odds that are much lower than the true odds. For example, in order for a three-team parlay to break even over the long term, it would have to pay 7/1. At 6/1, you would have set a world record for successfully picking winners in order to close the gap.

What About Money Line Parlays?

A money line parlay is the better of the two parlays since the potential return is dependent on whether or not you bet underdogs or not. To find the return of a money line parlay, you simply multiply the individual money line odds together. Because of this, a parlay featuring two underdogs and a big favorite would return much more than 6/1 odds like a three-team point spread parlay would. Unfortunately, this way of betting is just as difficult as a point spread parlay. The more teams you add to the parlay, the more combinations there become, which in turn could take a big chunk out of the bankroll if you are a parlay-only player.

What is a Correlated Parlay?

A 'correlated parlay' is a parlay wager that includes two or more events, generally in the same game, that have a strong relationship to each other - if one happens then the other is very likely to happen as well. These situations are very attractive to bettors because they increase the chances of making a profit. Sportsbooks do not like giving up a big advantage to bettors, so in most cases they will not allow a correlated parlay. Some books won’t allow two events in one game no matter what, while others will be more selective and will only disallow bets they deem correlated. Some books will even cancel bets after the fact if correlation turned out to be strong.

It will be less confusing after an example. The most common way to understand a correlated parlay is to look at a side and a total in football. If a team is a very large favorite - say 20 or 30 points - and the total is reasonably low, then it stands to reason that if the favorite covers the spread it is going to be more likely than not that the game will go over the total as well. If a team is favored by 35 and the total is 50, then it wouldn’t take much to go over if the spread is covered. You very likely would not be allowed to parlay the favorite and the over in that game,

That’s an extreme example. As a general guide, if you multiply the spread in a football game by three and the result is bigger than the total, then it is likely going to be viewed as a correlated play.

While correlated parlays are very tough to find -- and bet -- these days, the philosophy can be applied legally in some situations. One example is at the end of a regular season. Let’s say that at the end of the series there are two NHL teams fighting for the last playoff spot in the Eastern Conference -- the Hurricanes and the Panthers. If the Hurricanes, who play first, win, then they are in and the Panthers are out. If the Hurricanes lose, then the Panthers can play their way in with a win. A couple of possibilities are reasonable to assume, then. If the Hurricanes lose, then the Panthers are likely to be particularly motivated in their game -- they will know the result and will know what is on the line. If the Hurricanes win, though, then the Panthers will be crushed and aren’t at all likely to play at their best. Depending on your viewpoint, then, you could argue that a Hurricanes win and a Panthers loss or a Hurricanes loss and a Panthers win would be somewhat correlated results, and betting them could give you an edge. That’s about as close as you can legally get to a correlated parlay.

While single-game wagering is the backbone of many sports betting strategies, there are times when bettors want a little more bang for their buck. After all, who doesn’t like the chance to earn exceptional returns on a small outlay?

Parlay betting is one of the ways that bettors can make that dream a reality. While not easy to hit, the returns can be outstanding. As such, parlay betting is extremely popular, especially with recreational bettors and those looking to build bankroll.

A parlay bet is a wager that includes multiple wagers on a single ticket. The ticket can include as few as two games all the way up to 10+, depending on the rules at the sportsbook you are placing your wagers at.

In order for these bets to be graded as winners, each of the wagers – or legs – on the ticket must be correct. So if you bet a four-team parlay and are only right on three of the games, you’re out of luck.

That’s the basics behind parlay betting, but there’s a lot more you need to know. We’re going to cover all of that right here.

What is Parlay Betting?

For a parlay bet, you’re combining multiple wagers on a single betting ticket. The more bets that are added to the ticket, the higher the potential return becomes. However, the odds of hitting all legs on the ticket rise with each addition.

As such, parlay bets are a high-risk, high-reward wager type. That doesn’t limit the appeal in the slightest, as parlays are among the most popular bets at legal and regulated sportsbooks. While challenging to hit regularly, the possibility of exceptional returns is quite the enticement.

A parlay bet can be placed on as few as two games. Sportsbook rules vary, but operators typically cap the number of games that can be placed on a single wager. It’s generally 10 or more before that applies, but consult the sportsbook where you plan to place your bet for specifics.

In order for the wager to be graded a winner, you need to be right about all legs. If you place a two-game point spread parlay and are only right on one of them, the ticket is a loser. The same applies if you wager on four totals on the same ticket and are only correct on three: the bet will be graded as a loss.

Parlay bets can be equal parts challenging and fun. They can be a welcome addition to the sports betting arsenal, but the chances of loss are high. As a result, many long-term sports bettors allocate a small portion of their bankroll for parlay and exotic wagers while using the bulk of their funds for bet types they deem to be more predictable.

Parlay Betting Examples

To fully understand how parlay bets work, it’s helpful to walk through a few different scenarios involving varying numbers of legs. Let’s begin by taking a look at a simple two-team moneyline parlay.

After examining a slate worth of NHL games, you find two contests to be particularly attractive. You handicap the two of them and come away with a clear choice on the winner of both of them.

• Boston Bruins -135
• Toronto Maple Leafs +115

Since you’re confident on both, you decide to add both games to a single parlay ticket. You’ll see the betting odds for the parlay wager on your ticket, but here’s how it works out and what you can expect the return to be on a standard one-unit wager if you’re correct.

• Odds of -135 and +115 equal total parlay odds of +274
• A $100 wager at odds of +274 equals potential return of $374.25 – the original wager plus a profit of $274.25.

That’s an excellent return if you’re correct in both cases, but the bet will be a loser if you’re only right on one of them.

Next, let’s take a look at a three-team point spread parlay. You find three games on the NFL docket that you really like and decide to tie them all together.

• Cleveland Browns +1.5 (-105)
• New England Patriots -3.5 (-115)
• Dallas Cowboys -8 (-110)
• Odds of -105, -115, and -110 equal total parlay odds of +597
• A $100 wager at odds of +597 equals potential return of $696.86 – the original stake plus a profit of $596.86.

As you can see, the potential returns rise quickly as more legs are added to the ticket. For our final example, let’s say you like four different totals on a slate of NBA games. You decide to go for the gusto and tie them all together on a single slip.

• Over 205.5 (-110)
• Under 199.5 (-105)
• Over 212.5 (-115)
• Under 208.5 (-110)
• Odds of -110, -105, -115, and -110 equal total parlay odds of +1230
• A $100 wager at odds of +1230 equals potential return of $1,330.38 – the original stake plus a profit of $1,230.38.

Astronomical returns such as those in the example make it pretty easy to see the appeal of parlay bets. Even if you drop your stake down to small levels, you’re still looking at really nice returns.

• $5 four-team parlay at odds of +1230 offers total potential return of $66.52.
• $10 four-team parlay at odds of +1230 offers total potential return of $133.04.
• $20 four-team parlay at odds of +1230 offers total potential return of $266.08.

And so on. The lure of outstanding returns makes parlay bets one of the most popular choices on the sports betting menu. As always, it’s important to manage your risk and be aware of the potential for losses.

Parlay Betting Odds and Line Moves

For each slate of games on the docket, oddsmakers release what are known as opening lines. In sports such as NBA, MLB, NHL, and College Basketball, lines will definitely be out the morning of the day of the games, but you can get a sneak peek the night before in some spots.

When it comes to weekly slates such as in the NFL or College Football, odds begin trickling in as the final games of the preceding week wind down and all will be released once everything is in the books for the schedule at hand.

After opening odds and spreads are released, the betting market gets its chance to weigh in. If a lot of action comes in one one side as opposed to the other, the lines can be adjusted by oddsmakers in a bid to even out the action more to their liking.

In addition, news that comes to the forefront after lines are released can lead to an adjustment. It has to be something significant to move the needle, such as an injury to a star player or a major trade, but this can also impact movement from release to game time.

Each of these shifts will have an impact on the odds for parlay wagers as well. For example, if one of the listed games opens at odds of -110 and then sees a significant amount of action, one side can be adjusted to -115 while the other is moved to -105.

Parlay Odds Football William Hill

The goal of oddsmakers is to make the side that they need additional action on even more appealing to bettors. For those who wager on games, it’s important to take into consideration the movement from release onward as it gives you a glimpse into public sentiment.

One other note to consider on line moves: odds and spreads can have a few ticks of difference between books. As such, it’s a good idea to engage in what’s known as line shopping – i.e. comparing the prices offered at different marketplaces.

If you find more appealing odds at one book over another, there’s nothing to stop you from taking your action to the place with the better prices for a slate of games.

How to Handicap Parlay Bets

Normal handicapping rules apply for parlay betting. You’ll want to treat each leg of the ticket as its own event and break it down accordingly.

To break down games, you can begin with a simple five-step process and work your way out from there.

• Study the odds and any line moves
• Consider the overall strength of the two teams
• Factor in home/away performance as applicable
• Examine stats that really move the needle
• Review recent play for both sides

You can get more in-depth as time permits or as your experience grows, or you can also choose to keep it really simple. The choice is completely yours. There are bettors who have success with simple systems, some who kill it with an advanced approach, and plenty of others in the middle who find a balance that works best for their approach.

When handicapping parlays specifically, it can help to focus on the games you are most confident about. It’s tough hitting multi-team tickets, so it makes sense to only include those that you rate highly as legs on the parlay.

However, there are alternative approaches that can be taken. For example, let’s say you identify a pair of underdogs on a slate of College Basketball games that you like to win outright. A parlay with both of them could provide some serious bang for the buck.

Consider the return possibilities for two underdogs on the same ticket with the following odds.

• Odds of +110 and +145 equal parlay odds of +415.
• Potential return on a $100 wager equals $514.50 – the $100 original bet plus a return of $414.50.

A hybrid approach with elements of both strategies – most confident and underdogs you like – makes sense as well. In the end, it all comes down to what makes the most sense for your overall strategy and bankroll management.

How to Place a Parlay Bet

Legal and regulated online and mobile sportsbook operators make it very simple to build a parlay ticket. When you find the choices you like, clicking on them will typically bring up a new window. Included among the options is something along the lines of ‘add to betslip.’

Click on that choice and continue adding wagers until the parlay is built out with all of the legs you want to include. You can focus your parlays on moneylines, spreads or totals, or you can mix it up a bit.

The same applies for sports as you can do a parlay which includes games from different leagues, such as one NBA spread, one NHL moneyline, and one College Basketball total.

Please note that you can’t include two choices from the same fame on one ticket – i.e. spread and total. However, if you click on prop wagers for the game at hand, there will generally be ‘in-game’ parlay options to explore such as side and total or spread and total.

Once you have all of the legs added, it’s just a matter of entering your stake. You’ll be able to see the potential return based on the parlay odds right away. You can then adjust the amount of the wager as needed or click submit if you’re comfortable with what you see.

Before clicking on submit, it’s always a good idea to review all of the legs you have included. This little step can help prevent mistakes, which can happen pretty easily when building out a multi-team ticket.

Odds of winning a parlay bet

So you can easily figure out the potential return on a parlay bet by adding legs to a betting slip, but what are the actual odds of hitting a parlay?

The answer to that question depends upon the amount of games you have added to the ticket. For each choice that’s included on the slip, the chances of being correct on all of them go down.

That’s partially why you see such astronomical returns on big parlay tickets as the chances of it actually happening aren’t great. However, don’t take that to mean that it can’t be done. It certainly can, just don’t count on it being a regular occurence.

After all, if it was that easy to hit 10-team parlay tickets, sportsbooks would be quick to adjust potential returns accordingly.

For an average parlay in which all of the odds are at the standard of -110, here’s a safe benchmark of an odds scale to use.

• Two-team parlay: 13-5
• Three-team parlay: 6-1
• Four-team parlay: 10-1
• Five-team parlay: 25-1
• Six-team parlay: 40-1
• Seven-team parlay: 75-1
• Eight-team parlay: 150-1
• Nine-team parlay: 300-1
• 10-team parlay: 600-1

As you can see, the odds rise with each selection added to the ticket. The chances of hitting a two-team parlay aren’t too bad, but a 10-team parlay coming in requires a good deal of lady luck on your side.

Once again, don’t let that discourage you from taking your shots with parlays. If you practice solid bankroll management and keep yourself disciplined with more reasonable wagers elsewhere, there’s nothing wrong with taking a shot at a parlay with an amount you feel comfortable with.

One other note to keep in mind: legal and regulated sportsbooks run promos all the time. Keep your eyes out for ‘parlay insurance’ promotions. In general, the operator will provide you with insurance on a four- or five-team parlay.

If one of your legs is a loser, you’ll get a refund of your wager up to a certain amount. For those who plan to bet on parlays regularly, promotions such as these can be quite bankroll friendly as many a parlay has been ruined by a single incorrect leg.

The Bottom Line on Parlay Bets

A parlay bet is a wager in which multiple choices are included on a single betting slip. A minimum of two selections is required, and books can cap the total number of choices that can be included somewhere north of 10.

The chances of being correct on all legs of a parlay lessen with each selection that’s added to the ticket. It’s an inverse relationship when it comes to returns, as the potential rises with each leg added.

Normal handicapping rules apply for parlays. You’ll want to consider each leg as an individual event and break it down accordingly. You can take a safe approach and only include choices you are most comfortable with, or you can shoot for bigger returns by focusing on underdogs.

A mix of the two approaches is perfectly fine as well. From a bottom line perspective, parlays are high-risk, high-reward wagers that are quite popular at sportsbooks.

Football Parlay Card Odds

While it can be tough to generate consistent returns with them, it certainly makes sense to take some shots as part of a disciplined overall approach to sports betting.