Since it is easier to win teasers, the payout is typically near even money, give or take a few cents on either side (typically ranging from -150 to +150), whereas the payout on a parlay is significantly greater. In a teaser, your odds of winning each individual wager are greater because you are getting anywhere from 4-13 extra points added to the point spread. People are attracted to the idea of risking a little (relatively speaking) and winning a lot.ĭraftKings Sportsbook: View our review and access special sports betting offers >Ī parlay is similar to a teaser in that you have to win multiple individual wagers to win your bet, but that’s where the similarities end. Parlays are the quintessential risk/reward plays, which is what makes them so popular. If you bet $100 on a five-team parlay with every team at -110, you are risking $100 to win about $2,400. If you bet $100 on a team at -110, you are risking $110 to win $100. The advantage to winning, though, is that the payout is significantly greater than a standard straight bet. It goes without saying that parlays are far more difficult to win than straight bets and the more selections you have in a parlay, the less likely you are to win. If your parlay consists of five different bets, there is no difference between going 4-1 and 0-5. For those unfamiliar, a parlay is a bet consisting of two or more selections, all of which must win for you to win. Teasers are a great way to adjust the liens on a specific bet, especially if you’ve done your research and feel confident in how your bet will perform.One of the most common types of wagers is the parlay. So you might pull 2 points from a spread (bringing it from +4.5 to +2.5) and apply those points to a second spread bet, bringing it from 5.5 to 7.5. These bets allow you to adjust lines between two selections (hopefully) in your favor. Think of it as placing multiple smaller parlays, but without actually logging each one individually. If you were to select five teams, for example, you could break those out into: You can play around with round robins and make some much more complex selections. For example, if you make a round robin parlay containing three legs, the round robin would contain three different 2-leg parlays combining your selections. For example, there’s a round robin parlay, which essentially places all of your selections into smaller groupings, making them individual parlays. There are a few more complex types of parlays. Now the odds are +3635, meaning that same $10 would pay $363.58 in the event of a win.Īs you can see, more legs make for more potential winnings and higher risk. Now, the parlay includes four legs:Īdding the Oakland moneyline into the mix significantly increases the payout. To keep things simple, let’s add a single leg to the bet from above to show how the odds change. Three things need to happen for this parlay to hit: the Diamondbacks win, the Red Sox win by 2 or more, and the Nationals/Pirates game sees more than 9 runs scored. But of course, if even one leg failed, you would lose the bet. With those odds, a $10 wager would win $133.69. When combined into a parlay, these three bets become a single wager with odds of +1336. 3-Leg Parlayįor our 3-leg parlay, let’s make three MLB selections: But the more you add, the risker your bet. You can place 5-, 6-, even 7-leg parlays, and some sportsbooks allow up to 15-20 legs. Keep in mind you are not limited to this many. We’ll start with a 3-leg parlay, then move on to a 4-leg parlay. But the flipside is a higher potential payout than you’d get on individual bets.īelow, we’ll outline two parlay examples to showcase how the bets work. Additionally, if you combine parlay legs with already-high odds, the payout could potentially be massive.īear in mind this is all very risky, as every single individual bet within your parlay must hit in order to win. The more legs you include in a parlay, the higher the potential payout. Because you’re guessing various outcomes, the odds are much higher than you’d find at a standard moneyline or point spread bet. With each individual spin at 50/50, a single tails flip could completely botch your three heads in a row bet. But if you choose to bet on heads hitting three times in a row, that is far less likely. If you were to bet on a single coin toss, the odds are always 50/50. This is because you’re wagering that multiple outcomes will all occur, making the wager far less likely to hit. Parlay bets always have higher payouts than the individual bets they contain.
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