Sports Betting: How to Bet Parlays

The true odds of hitting a 10-team point parlay are 1,023-1, while the payoff is generally around 600-1, so a parlay bettor is at a big disadvantage.

To read more about parlays, see Parlay Cards, Finding Correlated Parlays or Betting Baseball Parlays.

2 teams 13-5

3 teams 6-1

4 teams 10-1

5 teams 25-1

6 teams 40-1

7 teams 75-1

8 teams 150-1

9 teams 300-1

10 teams 600-1

Money line parlay payoffs are calculated on the odds of the game, so there is no advantage or disadvantage in playing them.. The chances of the a good baseball team with its ace pitcher on the mound defeating a mediocre opponent are going to be greater than 50 percent and the payout if the parlay hits will reflect this.

By Allen Moody

To put it in simple terms, money line parlays take the amount of your bet and place all of the money on one team and if that team wins, recalculates your bet amount on the next team, again placing your entire wager on that team.

Bettors should stick with straight bets when betting against the point spread or totals as it’s difficult enough to pick one winner, let alone two or more games and the odds you are asked to try and beat are nearly impossible to overcome in the long run.

For example, say a bettor likes the Los Angeles Dodgers +160 and the Chicago Cubs -130. Simply stated, a parlay is a collection of two or more sides or totals that you bet on and all of them must win in order for you to win your bet. If the bettor places a $10 wager, they essentially would have a $10 bet on the Dodgers +160, which will return $26 should the Dodgers win, and then would have $26 on the Cubs -130. While a parlay made against the point spread assumes a 50-50 chance for each team of winning, money line parlays do not.

Updated

March 21, 2016.

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Sports Betting – How to Bet Parlays

Parlays are by far the most popular of the exotic wagers, as they offer the potential for a big payout from a small wager. Should the Cubs also win, the bettor has turned a $10 wager into $46. The difference in the payoff is because the Dodgers were not given very good odds of winning.

Are Parlays Good Bets?

The simple answer is no, especially parlays involving point spreads or totals. If you place a four team parlay, going 3-1 is no different than going 0-4. The payoffs a bettor will receive should they win are quite different in the two. The odds of the payoff are much less than the true odds. All of your bets must win, or at least tie, in order for you to win.

There are basic types of parlays, those wagered against the point spread and those wagered using the money line. In parlays involving point spreads, the payoff are fixed, while money line parlay payoffs are determined by the odds of each team.

Point Spread Parlays

The odds on a typical parlay involving point spreads, including totals, are generally something like:

What this means is that a bettor making a wager on a five-team parlay stands to win $25 for every $1 if all of their games win, while a correct eight-parlay will payout $150 for every $1 wagered. Contrast the $36 profit with the $26 profit a bettor winning a $10 point spread parlay on two teams would make. The ability to win a lot of money for a small bet is the primary reason parlays are popular with a number of sports bettors.

Money Line Parlays

Money line parlays do not use fixed odds, because the odds of winning vary greatly from team to team. For example, the true odds of winning a three-team parlay when making point spread wagers are 7-1, while the payoff is only 6-1, and it gets worse as you bet more teams

NCAA bans championships in betting states

Messages and e-mails were left with several NCAA officials by The Associated Press.

A study completed in 2003 showed 17 of 388 basketball players and 102 of 2,000 football players who were surveyed admitted they had taken money to play poorly, knew a teammate who took money to play poorly, had been threatened or harmed because of sports wagering, were contacted by an outside source to share inside information or provided inside information about a game. “As a state, Montana wholeheartedly supports its student athletes. The lawsuit filed by the four major pro sports leagues and the NCAA argues that Delaware’s plan to allow single-game betting would violate the legislation because Delaware has never offered single-game betting before.

“Not having gotten its way in court yesterday, it is disappointing that the NCAA would take this retaliatory action,” McGonigle said. The study included all three NCAA divisions.

NCAA rules also ban advertising from organizations that promote gambling.

Congress banned sports betting in 1992 while grandfathering four states _ Delaware, Nevada, Montana and Oregon _ that had already offered it. So as applied to Delaware, this new policy only serves to punish the very students the NCAA claims to be trying to protect.”

Officially, the NCAA opposes all forms of sports wagering that threaten the integrity of its games or jeopardizes the welfare of student-athletes and the athletic community.

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“I applaud the NCAA for coming to a commonsense conclusion that preserves Montana’s right to host playoff and tournament games,” Montana Attorney General Steve Bullock said in a statement. Along with the NCAA, we remain committed to protecting the integrity of collegiate sports.”

Chancellors and presidents from all three NCAA divisions approved the measure, saying it applies to “any session of an NCAA championship,” though it does not apply to states that allow parlay betting, lottery tickets, pull tabs and sports pools.

This is not the first time the NCAA has used its championships to send a message.

There have been several high-profile college scandals, including the famous 1950 point-shaving scandal that involved NCAA men’s basketball champion City College of New York. In May, seven former football and men’s basketball players at the University of Toledo were charged in alleged point-shaving scheme.

In Montana, home of Football Championship Subdivision powerhouse Grizzlies, some feared the school would be barred from hosting postseason games.

The NCAA approved a policy Thursday that would ban states, such as Delaware, from hosting championship events if they allow fans to bet on single games.

Some believe college athletes are more susceptible to gamblers because they are prohibited from getting paid for playing.. “Importantly, Delaware law prohibits any type of sports betting on any Delaware college game.

In Delaware, government officials were upset. Tom McGonigle, chief of staff for Delaware Gov. Jack Markell, issued a statement late Thursday.

In 2001, the governing body prohibited South Carolina and Mississippi from hosting postseason games because those states had Confederate images on the statehouse grounds.

Associated Press Writer Amy Beth Hanson in Helena, Mont., contributed to this report.

The move came one day after a federal judge denied a request by professional sports leagues and the NCAA to halt Delaware’s planned sports betting lottery until a legal challenge is resolved.

The NCAA’s executive committee made the announcement late Thursday afternoon in a five-paragraph statement