If you are looking forward to increasing the size of your returns with bets placed on sporting events, then Parlay Bets are the way to go. These types of bets will combine multiple bets into one that boosts up the monetary value of single bets. However, in order to win, all your independent bets need to pass successfully as you predicted before betting. Parlay bets should be part and parcel of every player looking to win while betting as it introduces variety into the equation.
Different bookmakers have different forms of parlay bets. Some will, however, introduce cross-sport parlay, which allows you to place bets on college football, college basketball, MLB, NBA, NHL, the NFL among others. This, therefore, makes Parlay Betting a very essential tool for any multi-sport bettor, who often bets on different sports.
So, we’ve looked at what parlay bets are. But are the parlay payouts really profitable? What advantage do they give to the bookmakers? The standard parlay payouts for a two-team bet is set at odds of 2.6:1. However, this is the value that you get while using the parlay odds calculator. The true parlay odds for this bet is 3:1. But of course, there’s no online bookmaker that will offer you this kind of odds as they have to make their profit from the commission imposed.
Other parlay odds include the following:
- A three-team parlay has odds of 6:1.
- A four-team parlay has odds of 13:1
- A five-team parlay has odds of 25:1.
It’s worth mentioning that it’s sometimes difficult to win when you place straight bets. Therefore, despite the boosted payouts, parlay bets are usually never worth the risk in the end. Also, you can find the true odds of your bet by using the betting odds calculator.
What Is a Betting Odds Calculator?
Also known as a Parlay Calculator, the betting odds calculator shows you how much money you can win if you place a bet a given number of games. It usually counts the number of picks you choose, then multiplies it with your wager and the amount of cash for each money line. For example, if you are to place a €20 bet on 3 football teams at a -110 money line odds, then your total parlay payouts would be €119.16.