How To Bet Parlays

A parlay bet is making a bet on 2 or more games and you will need to win all the games in the wager to get the payout. Therefore, if you make a 5-team parlay bet and you go 4-1 it is the same as if you lost all 5 games, as you will lose the wager. Parlay bets are very popular, as you can win a nice payout without having to bet a lot of money. The more games that you bet on the higher your payout will be, but because of this it is harder to win a parlay bet the more games you play since you must win them all.

You can make parlay bets when there is a point spread and when there is a moneyline and it will depend on what sport you are wagering on. You should be aware that the payouts for each of these types of parlay bets are different, so if you make a 3-team parlay bet on a point spread and a moneyline the payout will not be the same. Point spread parlay bets deal with a spread with fixed odds while a moneyline parlay bet has odds on each team in the game.

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A payout table for a typical point spread parlay bet can look like this:

  • 2 teams 13-5
  • 3 teams 6-1
  • 4 teams 10-1
  • 5 teams 25-1
  • 6 teams 40-1
  • 7 teams 75-1
  • 8 teams 150-1
  • 9 teams 300-1
  • 10 teams 600-1

This is just a typical payout, as different sportsbooks will have a different pay table, but the odds are usually around the ones in this example. Looking at this paytable and you make a 4-team parlay bet for $10 and you win all the games you will win a cool $100 ($10 at 10-1 odds +$100). Using this example you can win $600 by betting only $1 making a 10-team parlay, but you have to win all 10 games, which is obviously not easy to do.

Moneyline Parlay Bets

As stated before a parlay bet using a moneyline does not have odds fixed like a point spread parlay since the odds change from team to team in a moneyline bet. Point spread parlay bets have a 50/50 chance of winning, but that is not the case when you use a moneyline. For example, if the lowly Carolina Panthers are playing the mighty New England Patriots the odds are not 50/50 in a moneyline, but the Panthers will have increased payouts if they win while the Patriots will not, as they will be the big favorites.

A moneyline parlay bet will use the amount of your wager with the money for the bet on one team and if they win it will then be again calculated to the next team in the parlay bet. This will keep going on depending on how many teams you bet. You can get a huge payout making moneyline wagers if you bet the underdogs since they have increased payout odds.