However, most casual bettors have yet to learn how to play them optimally.įor bettors that like to wager on football, learning how to bet on teasers could help them win more of their parlays. For recreational bettors, the potential winnings are what makes them so attractive. That's why bookmakers offer the lure of a big payout when players win. Since all legs of the parlay must be correct, this is easier said than done. Parlays can be an effective way to wager if used correctly. The risk is higher, but the payout will be much more if both parlay legs win. However, these two bets can be combined into a parlay. If both bets win, the player will win around $20. However, linking together bets in a parlay also means the chances of losing are much higher.įor example, if a bettor thinks that the Chicago Bears at +3 and the Cleveland Browns at -6 will both cover the spread in their upcoming game, they could decide to place a small wager of $5 on both these games individually. The Bigger the Parlay the Bigger the Payoutīookmakers will give players much bigger payouts for adding more events to the parlay. If just one of the smaller bets loses, the player loses the entire parlay. To win a parlay, all of the smaller bets must be winners. The bets are all linked together and treated as one big bet. What Is a Parlay?Ī parlay bet can be defined simply as a bet that's made up of two or more smaller wagers. To figure out the parlay odds, players just need to subtract the original stake from that number. All decimal odds must first be multiplied together, then multiplied by the wager amount. However, it's possible to calculate the odds by first converting American odds to decimal odds. Most online sportsbooks will calculate the potential winnings from a parlay, which can be seen on the bet slip before placing the wager. Let's Avoid Confusionįiguring out parlay odds without using parlay odds calculators can sometimes be confusing because of the odds format used. The parlay calculator is used as a tool to show parlay odds and the implied probability for any combination used to build the bet. The risk is higher the more games that are included in the parlay, but the potential payout is also much greater.

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