A parlay, accumulator, combo wager or multipurpose is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning collectively. The advantage of the parlay is that there are much higher payoffs than putting each individual wager individually, because the difficulty of hitting them is much higher. If some of the stakes in the parlay shed, the entire parlay loses. If any of those plays at the parlay ties, or”pushes”, the parlay reverts to a lower number of teams together with the odds decreasing accordingly.
Parlay bets are paid out at odds greater than the typical single game wager, but still under the”true” odds. As an example, a common 2-team NFL parlay based entirely on the spread normally has a payout of 2.6:1 if both selections are right. [citation needed] In reality, however, if one supposes that each single game wager is a coin flip and would be expected to cover out in 1:1, the true payout must instead be 3:1, a substantial difference.
The house creates a 20-31% profit on spread parlays, compared to a 7% gain on individualized sports stakes. [2]
An alternate means to do a parlay is to wager on at least two favorites only winning straight up. To be able to calculate the payout of the parlay, one has to multiply out the payout for all 3 games. For example, if 3 groups are +385 favorites, a successful parlay on all 3 groups winning could pay out at a ratio of roughly 1/1. This is because (385/485)^3 is roughly 50 percent
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