How To Calculate Sports Betting Payouts
When it comes to sports betting, the main goal for anyone who wagers a single dollar on any sporting event is to turn that dollar into two or three or four or hundreds of dollars. It's much easier said than done, and that is why the betting industry is one of the hardest industries to break into in a big way.
Those that do, however, generally stick to single-game wagers over the course of the NFL/MLB/NHL/NBA seasons, and they enjoy the process of grinding out nightly wins and boosting their bankroll that way. It also helps to understand the risk vs. reward a little better when betting on single games because NFL and NBA offer spread betting , which in turn is almost exclusively listed at -110. The bettor understands this and because of that they can bet according to their bankroll management plan .
For those who don't have the patience to bet one game per night and slowly build up the bankroll, the parlay route is always the go-to way, and more often than not it leads the bettor to bust his bankroll. Don't get me wrong, I too have dreamt about winning a 15-leg parlay on a Sunday afternoon and cashing in five digits, but I am also realistic and know it's unlikely to happen.
If you still want to bet parlays, you must understand what they are and how they work.
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What is a Parlay
A parlay is a single bet that links together two or more individual wagers for a high payout. A two-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.
In order for the parlay bet to win, every one of the wagers must win. If any of the selections lose, your wager loses, regardless of the outcome or cancellation of the other games. If one or more selections is a tie, postponed, incomplete, cancelled or rescheduled for another day, then the wager reverts to the next lowest number. For example, if you place a five-team parlay and have four winners and a tie, your wager pays out as a four-team parlay.
If you place a two-team parlay and one team wins and one ties, the wager becomes a straight bet. The resulting wager will have the same risk amount with the win being calculated to reflect the odds of the remaining team (Example: on a two-team $100 parlay with team A +110 and team B -110 ,if A ties and B wins the resulting wager will be a straight play on B risking $100 to win $90).