Odds On A 5 Team Parlay

Since the whole reason we are here is to explain betting odds, we need to teach people how parlay betting works and help them understand things like payouts, rules, and other things that come up when placing a parlay bet. This is one of the things we talk about first because it is such a popular way to bet on a variety of games, but many people waste their bankroll on them. For just a few dollars, someone could conceivably win as much as a million dollars or more, but that thrill is why most people lose their money when betting on parlays. Of course, this is an extremely rare situation but using a parlay to build the payouts on several bets you're feeling good about is a common + profitable practice if you are on a hot streak.

• What Are The Odds On A 5 Team Parlay

A 10 team parlay will pay out 643 times your wager amount assuming each leg of the parlay has -110 odds. For example, if you place a $10 bet on a 10 team parlay, your pay out would be $6,430. What does a $20 two team parlay pay? American odds are displayed in hundreds and thousands (-110, +500, +1500, etc). Be sure to enter the minus sign (-) if applicable to your odds. Calculating parlay odds is simple when using decimal. On a three-team parlay, a tie and two wins would produce a winning two-team parlay payout. If both games in your parlay tie, you will not win but will be returned your original bet amount. Different sportsbooks have different odds, so when placing a parlay bet it is best to first do your research. A 2 team parlay might pay 13/5, a three team parlay might pay 6/1, a four team parlay might pay 10/1, and so forth with the payouts getting higher with more teams or totals selected. For a single bet, 2 to 8 teams or totals can be selected. In order for the parlay bet to win, every one of the wagers must win or push (tie).

I think of parlays this way. If you are confident enough in so many bets that you feel like you need to put them in a parlay, then you should bet them all straight as well. That way if you win 3 out of 5 for example, you will still win money or break even. As to where if you just bet one parlay then you will walk away with nothing more times than not. So, if you have $25 to bet a 4-team parlay, bet $5 on each team individually and then bet them all in a $5 parlay. You will be a much more profitable sports bettor if you stick to this philosophy.

Below is our complete rundown of what a parlay bet is in a way that you should be able to understand it. We try and break down all the different aspects of it, but please know that some sportsbooks have different rules and you may be able to do things on some sites but not others. Enjoy the page and we hope that we help you become better at sports betting by reading this page.

What Is A Parlay Wager?

A parlay is a single bet that is placed down that includes more than one pick to win a game or cover the spread, usually between 2-10 teams. You will win your parlay bet if all of your bets are won that you included on the betting slip. But if you have even a single loss, then the parlay is lost and so is your money. And it does not matter how many of the games you won on the betting slip because ALL of them must win.

What Happens If There Is A Push Or A Tie In A Parlay?

If any of your picks in the parlay turn out to be a push, then that bet basically acts as a tie and the payout of your payout will be reduced if you won your other bets. In other words, if you have an 8-team parlay and one of those picks is a push or tie, then you essentially are left with a 7-team parlay. The push doesn’t signify that your parlay will be graded as a loss; however, your total winnings will be reduced as the sportsbook removes that “leg” from your parlay.

Why Do People Bet On Parlays

A parlay is enticing to bettors because of the high return on investment should the bet be won. The payouts for a parlay can be very high, and thus very rewarding. The more teams you take in a parlay, the greater the return and it is completely possible to win thousands of dollars with a $1 parlay if all your picks are correct.

Example Of How A Parlay Bet Works

Let's say that you placed a three-team parlay on the Falcons, Cowboys, and Packers covering their respective point spreads in their match ups. Typically, a three team parlay will pay out at 6/1. If all three of these teams cover the point spread, then the bet would be won. For every $100 wagered on this parlay, a $600 profit is made. If one of the bets was to push though for example, you would be paid as if you made a 2 team parlay bet, which would be 3 to 1, or $300. If any of the three teams loses then so do you.

How Do You Calculate A Parlay?

The easiest way to calculate is to simply go to an online sportsbook and start putting your bets in. You will be able to see the payouts for the parlay before you confirm the bet. If you look at the table below then you can see the payouts if you were to bet a parlay using regular betting lines that are set at -110. Any time one of your bets is different then -110 then the payouts of your parlay will be different depending on which way you are betting. If you are betting an underdog that was +200 for instance, then your payouts for the parlay will be much higher. And if one of them was a favorite at -200 then your payout will be lower.

We're sure you're ready to learn more about the parlay wager and the best online sportsbooks that allow users to make wagers using the parlay. Here's a tip: stick to the sports betting sites that have friendly parlay rules which allow you to jump across different sports + parlay wagers within the same game! Now, let's get on with the show...

Bovada Sportsbook - Best Sports Betting Site For Betting Parlays

When it comes to betting games, sometimes players only pick one game to place a wager on, and sometimes a lot of money can be one quickly. The reason that Bovada is so popular is that most players know that there are all the games that they can pick from and make money on. This opens eyes but another thing that sticks out on Bovada is the parlay bets that can be made on all of the games here on Bovada.

Parlay bets here have all the making of big cashouts! With parlay bets, there are games that you can pick that you know that are for sure wins and take a few upsets and that’s where the money that players can be will increase. Bovada odds set on all the bets offered are set up for players to cash out huge and all it takes is a player to take the chance on more than one game or one more than one prop bet.

SportsBetting Sportsbook - Tons Of Parlay Bet For All Sports

The reason that many players love to place bets on SportsBetting is because the odds are set up perfect players to win big. There are always great games going on no matter the sport so that means that there are plenty of bets that will show up and many of the time players will decide which prop bets are best for them. Most of the time players will see more than one bet that they really like and this is where parlay bets will come.

The thing is SportsBetting already has all the great bets so now when you put all these prop bets in the basket and make it one big bet, this is where cash will flow! SportsBetting is known for great prop bets so when you can tie them all together, this only means more players will come in and place parlay bets and win huge!

BetOnline Sportsbook - Best Sportsbook With Parlay Bets

Knowing that all the bets you are at the tip of your fingers are what Betonline gives to all their account holders. These bets are always exciting and the odds are set up for players win big. With the games are always going on, bets are always popping and that also more the features are filled with a lot of different bets.

Prop bets are everywhere on BetOnline and that means that parlay bets will be the best way for players with accounts. The reason for this is because when it comes to betting, the main goal is to win as much money as you can. BetOnline has great odds for every bet in different games so tagging different bets in one parlay only increase the winning. Picking 12 bets with a few underdog pick only scream a lot of winnings when a player hits on BetOnline.

MyBookie Sportsbook - Parlay Bets Profit Top Of Line On MyBookie

The bets that are set on MyBookie has always been very favored for players to win money on. The ultimate way to win is to take advantage of the bets that are here and set no matter the games or the sport. This is why most players come back to MyBookie and bring back other players as well. Sometimes picking the underdog to win only shows that it will be more money to be made. The thing that comes with betting the underdog is there is also a chance you can pick the underdog and place a bet on your favorite at the same time. This is called parlay bets.

These parlay bets can be placed and when you do that this only means more money can be won because of the multiple games that place are betting on. Even in the live betting feature, players could also place parlay bets as well. At the end of the day, betting is about profiting big, and here on MyBookie, parlay bets are one of the most profitable ways to win money. Adding all of the best you have on to one ticket and place big money on MyBookie will prove to profitable because of the odds set on MyBookie!

More About How Parlays Work In Sports Betting

As the parlays increase, so too does the margin of profit and payouts. But the more games linked together on the parlay, the more difficult the bet becomes to win. Parlays usually can go up to as many as 15 games. It's also important to know that parlays are not made for you as a bettor on the sportsbook. You have the power to fill out your own parlay slip for the games that you want to place a wager on.

Betting a parlay does not have to be on the point spread either. When placing a parlay bet, then you can bet on either the spread, the money line, or a combination of the two. But on the money line, which is a wager on a game without a point spread, the payouts can be a lot different. If a bettor takes the favorite on the money line for every parlay, the payout won't be the near the amount than if one or more underdogs had been selected.

Is Betting A Parlay Worth It?

While the major payouts and hopes of a changed lifestyle for only risking a few dollars may seem too good to be true, oftentimes it is. Still, you will hear stories about bettors who won a crazy 8-leg parlay where they turned $100 into a few hundred thousand. More often than not though, parlays are what give sportsbooks easy money. Sports betting can be difficult and if you are required to get every wager you make correct in order to win, you will find yourself running out of money much quicker in most scenarios.

November 4, 2010 by admin
Filed under General Information

A parlay is a single bet that is placed on two or more different games. As a general rule, all games in the parlay must be winners (or at least end in a tie) for the parlay bet to win. The odds on a parlay are based on how many different teams you play. A 3 team fixed odds parlay might pay 6 to 1 while a 12 team fixed odds parlay could pay 600 to 1. Take a look at the following example of fixed odds parlay payouts from one of the leading online sportsbooks;

The first thing that you need to know when looking at parlay odds is whether the betting line for each individual game in the parlay contains standard odds or not. As we have discussed before in the article titled “How do Sportsbooks Make Money on the Moneyline”, the standard odds for sports betting are (-110), meaning that you must wager $110 for the chance to win $100.

If, and only if each and every team in your parlay has a betting line containing standard odds, then the fixed odds table shown above will apply. In that case it is simply a matter of looking at the table to determine the payout based on the number of teams you bet on with your parlay and the amount of your bet. If you placed a $100 bet on an 8 team parlay and won, you would get a payout of $10,000 in addition to having your original $100 bet returned to you.

You could assume that there is no real calculation required to determine the parlay odds since the odds are set by the sportsbook based on the number of teams in the parlay, but in fact the calculation does exist. It’s just a very simple one. A $100 payout is 91% of a $110 wager, and the return of your original wager represents a 100% return on that wager. The total then is 191% or 1.91 as a multiplier. To get your payout for a 2 team parlay simply multiply $110 by 1.91 squared. For a 3 team parlay it’s $110 times 1.91 cubed. For a 5 team parlay it’s $110 times 1.91 to the fifth power. And so on.

But if the betting line on one or more games in the parlay is anything other than the standard odds, a slightly more complex calculation must be performed to determine the final parlay payout. Once again, we will mention that these odds are almost always calculated by the sportsbook when you place your bet, and a calculation on your part is therefore not really necessary. The purpose of explaining how to calculate the payouts on these non-standard odds is to give you a more in-depth understanding of what’s behind the sportsbooks calculations. Take a look at the following 3 team parlay example where the betting lines for the 3 teams respectively are (-160), (+130) and (+110);

Just like the fixed odds, for every moneyline there is a multiplier which describes how much money you will receive as a payout if your bet wins. The payout for a bet on (-160) is $100 for every $160 that you wager. The $100 winnings is 62.5% of the $160 that you risked. Additionally your original $160 bet is returned to you, and $160 is 100% of the money you risked. Therefore the total payout including the return of your original bet is 162.5% of your original bet. We divide that by 100 to get the multiplier, which in this case would be 1.625. Now when the betting line is positive such as (+130), your winnings are more than 100% of the amount you risked, 130% in fact. Adding the original bet which again is 100% of your original bet because it is your original bet gives you 230% payout or a 2.3 multiplier.

Finally, you can now calculate your payout from the multipliers you have created. The payout would be the original wager multiplied by all of the multipliers in the parlay. Assume for a moment that in the above example you wagered $100. Your payout would be $100 x 1.625 x 2.3 x 2.1 or $784.88, and $684.88 would be winnings while $100 of that would be your original wager. You can easily see from this illustration that when the betting lines are positive the payout more than doubles for each team you add to the parlay.

It’s been correctly pointed out by various authors that the actual chances of hitting a multi team parlay are a lot lower than the fixed odds would suggest. The real odds of hitting a 5 team parlay for example are more like 31 to 1 while the payout for fixed odds is only 25 to 1. It’s good to understand this relationship between true odds and the fixed odds payouts you would receive from a sportsbook, but it’s not really that relevant.

What Are The Odds On A 5 Team Parlay

The fact is that by picking underdogs you can increase the payoff for multi team parlays well above that which you would get for fixed odds. And even if you do decide to go with the standard odds, parlays can still yield a huge payout for relatively little investment. Hitting a 4 team parlay with a $100 bet doesn’t get you the $1500 payout that you would get if the sportsbook offered true odds in their fixed odds table, but $1200 is still a pretty darn good payoff for that $100 bet.