The gambler can take advantage of parlays to avoid cheering for long-shot underdogs while still earning big payoffs on winning wagers. Parlay bets on multiple favorites pay off with 'plus' odds, as if a single underdog had beaten a lone favorite. Three such markets combined into a winning parlay bet can strike a 6-to-1 jackpot.

However, if the over/under bets are combined into a single parlay bet, the odds move into the (+250) to (+300) range, or nearly a 3-to-1 payoff on a winner.

A pair of winning O/U bets payout $18 given the same betting unit. If going 2-for-2 or 3-for-3 on a round of predictions is such a challenge, why does the bettor choose to parlay? Because the payoffs posed by parlay odds are spectacular.Īn accurate over/under prediction and corresponding bet placed at FanDuel Sportsbook pays (-110) on average, or about $9 on a winning $10 gamble. Each of these NFL picks must be accurate for the wager to pay off when the games are decided. If the bettor is feeling lucky, they might even pick 3 or 4 outcomes across a number of teams and combine them into a single parlay bet. As an alternative to wagering a moneyline bet on each outcome separately, a single parlay bet may be placed on both games. Lakers to beat the Utah Jazz in the same evening. For instance, a bettor might pick the New York Giants to beat the Philadelphia Eagles and the L.A. Parlay bets combine multiple gambling markets into a single wager. But the odds and potential payoffs are eye-popping. Winning a parlay isn't easy, especially when 3 or 4 predictions and outcomes are involved. For example, multiple NFL odds can get combined into one bet, and all must win for the bet to payout. Parlay betting allows sports bettors to combine their predictions into a single bet. Parlays are a way to shoot for a big payout without requiring a proverbial Cinderella to win a game, a race, or a title. There are plenty of 10-to-1 and 20-to-1 prices to be found on underdog FBS teams, but only if you're willing to bet on a team like Vanderbilt to win in Tuscaloosa. If you choose to wager on Cal to beat Stanford in football, great, but it won't result in a 5-to-1 or 10-to-1 windfall unless the Bears are having a bad year, in which case Cal's chances to win won’t be promising. Sports betting odds are designed to match payoff to the chances of an outcome. Parlay Betting: How to Bet Parlays on Your Favorite Sports

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