by: Ruth Morrison
A parlay Bet is a wager on two or more teams in no particular order where all selections must win for the wager to win. Parlay rules are as follows:
In the event of a tie or no action, the parlay reverts to the next lowest number for payout. A two-team parlay reverts to straight wager.
Parlays that incorporate money lines or European prices are paid out based on the odds of the individual selections.
The bettor cannot wager on connected events on the same parlay card. For example, one leg of a parlay is for Roddick to beat Philippoussis in the 4th round of Wimbledon and an additional part of the parlay is for Roddick to win the overall Wimbledon title. The match forms part of the overall tournament and is therefore connected. In the same way, the bettor cannot parlay the over of the first half of a football game with the over of the full game because the two are connected.
By placing a Parlay bet, the bettor can increase his payout odds. For example, he wants to bet on the Canucks to beat the Wings and the Canucks to beat the Avalanche, but the odds are even money. He's pretty sure the Canucks are going to win both events so he wants better odds. By parlaying the two games, he increases his odds to 13:5.
Parlay Bet Payouts
The following parlay payout table is valid if all selections within the parlay are based on the standard point spread or totals line of -110 (bet $110 to win $100).
Number of Teams
To calculate odds for parlays that use money lines other than the standard -110, the bettor should convert the money line to a European price. Then calculate the parlay payout odds by multiplying the European prices of each event together.
For example, let's say the bettor wagers on Arsenal 2.5, Manchester 1.7 and Liverpool 2.1. A parlay of all three teams would pay 2.5 x 1.7 x 2.1 = 8.93. If the bettor's wager amount is $100, then the payoff would be $100 x 8.93 = $893 (this includes his original stake, so his winnings are $893 - $100 = $793).