6 4 Odds Payout
How does a Parlay work?
Odds of Winning. 87.25% of Pools Fund. 1 in 33,294,800.Per $5 play (approximate) 6/7 + Bonus. 2.5% of Pools Fund. 1 in 4,756,400.Per $5 play (approximate) 6/7. Odds of Winning. 6/6. 79.5% of the Pools Fund. 1 in 13,983,816 5/6 + Bonus. 6.0% of the Pools Fund. 1 in 2,330,636. 5.0% of the Pools Fund. 1 in 55,492. 9.5% of the Pools Fund. 1 in 1,033.
Select as few as two or as many as fifteen teams and combine them in one wager. All selections must win for your parlay to be successful. You can combine spreads, totals and moneylines.
What are the advantages?
The benefit of the parlay is that it gives a much higher payoff than if you were to place each bet individually since it’s harder to win all your selections.
Conditions:
- If there is a tie or no action, the parlay reverts to the next lowest number for pay-off, for example: if you select 4 teams and one of those ties, it becomes a 3 team parlay. A tie and win on a 2 team parlay pays out as a straight bet.
- You cannot combine ‘connected’, ‘dependent’ or ‘correlated’ events in the same parlay.
Payout Table:
The odds quoted in the pay-off table below only hold true if all selections in the parlay are at the standard price of -110 (football and basketball spreads and totals).
Variations in the prices will cause variations in the pay-offs.
Payout [all prices -110] | American Odds | |
2 Teams | 13 to 5 | +260 |
3 Teams | 6 to 1 | +640 |
4 Teams | 10 to 1 | +1000 |
5 Teams | 25 to 1 | +2500 |
6 Teams | 40 to 1 | +4000 |
7 Teams | 75 to 1 | +7500 |
8 Teams | 150 to 1 | +15000 |
9 Teams | 300 to 1 | +30000 |
10 Teams | 700 to 1 | +70000 |
11 Teams | 1,100 to 1 | +110000 |
12 Teams | 1,800 to 1 | +180000 |
13 Teams | 3,500 to 1 | +350000 |
14 Teams | 5,000 to 1 | +500000 |
15 Teams | 10,000 to 1 | +1000000 |
Calculating a Parlay:
If the odds in the parlay are not all -110 then the (true) parlay odds are calculated according to the different prices. This is done by multiplying the prices of the selections together, but remembering to include the stake amount. Let's assume you place a $10 parlay on 2 selections, with odds of -180 and +250. The calculation to work out your return is as follows:
First of all, convert the odds into decimal format (just use our decimal format option to view your odds):
With ‘favorite’ prices (denoted by a – (minus) sign):
100/180 = 0.556 and add 1 (to include the stake) = 1.556
With ‘underdog’ prices (denoted by a + (plus) sign):
250/100 = 2.5 and add 1 (to include the stake) = 3.5
Then, to find your total potential return, multiply these odds together and with the stake: 1.556 x 3.5 x $10 = $54.46
Progressive Parlays
A Progressive Parlay is very similar to a normal parlay but, in exchange for not getting as big a payout for picking a perfect combination, you are getting insurance for those occasions when one or more of the teams in your parlay loses.
These can be between 4 and 12 teams but you can onlychoose point spreads (no totals or moneylines). In these parlays you can lose games and still win the bet because the payouts are lower.
4 - 6 teams... you can afford ONE team to lose/push
7 - 9 teams... you can afford TWO teams to lose/push
10 - 12 teams... you can afford THREE teams to lose/push
The Progressive Parlay Payout Table
All selections win | 1 loss | 2 losses | 3 losses | |
4 Teams | 5/1 | 1/1 | -- | -- |
5 Teams | 11/1 | 2/1 | -- | -- |
6 Teams | 20/1 | 7/2 | -- | -- |
7 Teams | 40/1 | 4/1 | 1/2 | -- |
8 Teams | 75/1 | 10/1 | 2/1 | -- |
9 Teams | 150/1 | 20/1 | 5/2 | -- |
10 Teams | 250/1 | 25/1 | 3/1 | 1/1 |
11 Teams | 400/1 | 60/1 | 5/1 | 1/1 |
12 Teams | 900/1 | 80/1 | 10/1 | 3/1 |
Below the table in American Odds:
Progressive Parlay Size | All Win | 1 loss | 2 losses | 3 losses |
4 Teams | +500 | +100 | ||
5 Teams | +1100 | +200 | ||
6 Teams | +2000 | +350 | ||
7 Teams | +4000 | +400 | +50 | |
8 Teams | +7500 | +1000 | +200 | |
9 Teams | +15000 | +2000 | +250 | |
10 Teams | +25000 | +2500 | +300 | +100 |
11 Teams | +40000 | +6000 | +500 | +100 |
12 Teams | +90000 | +8000 | +1000 | +300 |
Please note that Progressive Parlays also differ from regular parlays in the following ways:
- Progressive parlays are not available for MLB, NHL or money-line wagers in football or basketball.
- In a Progressive Parlay, a push or a tie is considered a loss for that selection. However, if a selection has no-action (due to postponement or cancelation), the bet will revert to the next lowest progressive parlay for payoff, except in the case of a 4 team progressive parlay where it results in a no-action on the whole parlay.
Round Robin Parlays
How a Round Robin Parlay works:
Make between 3 and 6 selections and wager on some or all of the possible parlay combinations in one go. Each of the parlays comprising the Round Robin is a separate wager.
You can combine spreads, money lines, totals and different sports in Round Robin parlay bets.
Example:
A three-team Round Robin bet for $10 placed two-ways would consist of all the two-team parlays that can be made from the three teams selected. Taking the Colts, the Eagles and the Giants (all to cover the spread) two-ways, you would be creating three separate two-team parlays and the total cost of the bet would be $30:
Parlay | Teams | 2 team parlay odds | Bet amount | To win | Return |
# 1 | Colts and Eagles | 13 to 5 | $10 | $26 | $36 |
# 2 | Colts and Giants | 13 to 5 | $10 | $26 | $36 |
# 3 | Eagles and Giants | 13 to 5 | $10 | $26 | $36 |
With the above example in mind, you also have the option to place a three-way Round Robin side bet to increase your potential payout (a three-team parlay including all three teams). If you wish, you may risk a lower amount on this 3-way bet, as it may be harder to win:
Parlay | Teams | 3 team parlay odds | Bet amount | To win | Return |
# 4 | Colts and Eagles and Giants | 6 to 1 | $5 | $30 | $35 |
With the selection of 4, 5 or 6 teams, further combinations are possible:
Parlay combinations within Round Robin | ||||||
Size of Round Robin | 2-way | 3-way | 4-way | 5-way | 6-way | Total no. of combinations |
3 team | 3 | 1 | - | - | 4 | |
4 team | 6 | 4 | 1 | - | - | 11 |
5 team | 10 | 10 | 5 | 1 | - | 26 |
6 team | 15 | 20 | 15 | 6 | 1 | 57 |
To place a Round Robin Parlay please follow these steps:
- Log-in to your account
- Choose the sport type on which you wish to bet
- Add your selection(s) to your betting ticket by clicking/tapping on your selected odds/prices on the betting card
- As soon as you have made at least three selections Round Robin Parlay will appear on the Parlay tab visible at the top of the betting ticket.
- Choose the required parlay combinations (2, 3, 4, 5 and/or 6-way) and the amount you would like to wager on each group of combinations.
- Review your selection(s) again before clicking/tapping PLACE BET.
The table above illustrates the possible number of combinations for the different sizes of Round Robin. It is not obligatory to choose all combinations.
Furthermore, it is possible to vary the amount risked on each group of combinations. For example, if you are making a 4 team Round Robin with 2-way and 3-way combos, you may wish to bet a higher amount on the 2-way combos which are easier to hit and a lower amount on the 3-way combos in which it would be harder to be successful.
The total value wagered and total potential payout will be displayed on the summary on the lower right hand side of the window. Once you have submitted your wager, a range of Bet IDs will be provided. Please make a careful note of the range for wager tracking purposes. (Please note: Bet IDs within the range may not necessarily be sequential).
All Sport Parlay Wager
The All SportParlay Card (also known as a Cross Sport Parlay Card) offers the opportunity to place a parlay bet on a variety of different sport-types including US and non-US sports. Log in to your account and click on PARLAY CARDS > All Sport Parlay Card to display all the lines we're currently listing for use between sport types.
Alternatively, you may also be able to parlay events which do not appear together in the same parlay card. For example, bet soccer and baseball in the same parlay. Or parlay the 1st half lines of an NFL game with a boxing match.
To do this, simply add to the betting ticket the line of one of the events you would like to parlay, let's say a boxing fight, from the BOXING + MMA section of the site, then go to theNFL area and add to the betting ticket the first half line you want, if they can be parlayed the system will show the option to do so in the betting ticket.
You will not be given the option to buy points on US football, basketball spreads or totals. The maximum bet allowed depends on the prices of the selections in the parlay. You can find out the maximum you can lay by clicking the max bet button. Events available on the All Sport Parlay Card may vary depending on the day and time.
Note: Management reserves the right to limit the maximum amount wagered prior to acceptance of any bet.
No parlay wagers can be accepted where individual wagers are 'connected', 'dependent' or 'correlated'. For further details, check 'correlated events'.
A parlay, accumulator (or acca), combo bet or multi is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately, since the difficulty of hitting all of them is much higher. If any of the bets in the parlay lose, the entire parlay loses. If any of the plays in the parlay ties, or 'pushes', the parlay reverts to a lower number of teams with the odds reducing accordingly.
Odds and payout[edit]
Parlay bets are paid out at odds higher than the typical single game bet, but still below the 'true' odds. For instance, a common 2-team NFL parlay based entirely on the spread generally has a payout of 2.6:1.[citation needed] In reality however, if one assumes that each single game bet is 50/50, the true payout should instead be 3:1 (10% expected value for the house). A house may average 20-30% profit on spread parlays compared to perhaps 4.5% profit on individual sports mix parlay bets.
Aside from 'spread' parlays, another way to parlay is to bet on two or more teams simply winning straight up. In order to calculate the payout of this parlay, one must multiply out the payout for all games. For example, if 3 teams are -385 favorites, a successful parlay on all 3 teams winning would pay out at a ratio of approximately 1/1. This is because (385/485)^3 is approximately 50%.
Examples[edit]
Typical payouts for up to 10 team parlay bet[edit]
The following is an example of a traditional Las Vegas Parlay Card at William Hill Sports Book, which shows the typical payouts for an up to 10 team parlay bet based on -1.10 prices (amount won is assuming $100 is bet)[citation needed]:
| Number | Odds | Amount won | Payout |
|---|---|---|---|
| 2 Team Parlay | 2.6 to 1 | $260 | $360 |
| 3 Team Parlay | 6 to 1 | $600 | $700 |
| 4 Team Parlay | 11 to 1 | $1,100 | $1,200 |
| 5 Team Parlay | 22 to 1 | $2,200 | $2,300 |
| 6 Team Parlay | 45 to 1 | $4,500 | $4,600 |
| 7 Team Parlay | 90 to 1 | $9,000 | $9,100 |
| 8 Team Parlay | 180 to 1 | $18,000 | $18,100 |
| 9 Team Parlay | 360 to 1 | $36,000 | $36,100 |
| 10 Team Parlay | 720 to 1 | $72,000 | $72,100 |
Profitability of parlays in sports betting[edit]
6 4 Odds Payouts
Many gamblers have mixed feelings as to whether or not parlays are a wise play. The best way to analyze if they are profitable in the long term is by calculating the expected value. The formula for expected value is: E[X] = x1p1 + x2p2 + x3p3…xkpk . Since the probability of all possible events will add up to 1 this can also be looked at as the weighted average of the event. The table below represents odds.[citation needed]
Column 1 = number of individual bets in the parlay
Column 2 = correct odds of winning with 50% chance of winning each individual bet
Column 3 = odds payout of parlay at the sportsbook
Column 4 = correct odds of winning parlay with 55% chance of winning each individual bet
| Number of individual bets | Correct odds at 50% | Odds payout at sportsbook | Correct odds of winning parlay at 55% |
|---|---|---|---|
| 2 | 3 to 1 | 2.6 to 1 | 2.3 to 1 |
| 3 | 7 to 1 | 6 to 1 | 5.0 to 1 |
| 4 | 15 to 1 | 12 to 1 | 9.9 to 1 |
| 5 | 31 to 1 | 24 to 1 | 18.9 to 1 |
| 6 | 63 to 1 | 48 to 1 | 35.1 to 1 |
| 7 | 127 to 1 | 92 to 1 | 64.7 to 1 |
| 8 | 255 to 1 | 176 to 1 | 118.4 to 1 |
| 9 | 511 to 1 | 337 to 1 | 216.1 to 1 |
| 10 | 1,023 to 1 | 645 to 1 | 393.8 to 1 |
| 11 | 2,047 to 1 | 1,233 to 1 | 716.8 to 1 |
The table illustrates that if a 55% chance of winning each individual bet were achievable, parlays would be profitable in the long term. Compare the expected value you receive on an individual bet at a typical price of -110 with a 55% chance of winning: ((100/110+1)*.55)-1 = .05 (exactly 5 cents won for every dollar bet on average), multiplied by 11 = .55, to the expected return on the 11 game parlay ((1234/717.8)-1) = .719 (72 cents won for every dollar bet on average). In this case a parlay has a much higher expected value than individual bets with greatly increased variance in outcomes.
See also[edit]
6 4 Odds Payout Ratio
