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Parlay Betting
Bet types - Parlay bets
A parlay bet is the US equivalent of a straight multiple bet (i.e. a multiple bet with no cover for hedging against some void selections). This bet can be made on American football, basketball, ice hockey, baseball, college sports and a variety of other options, all of which can be combined into a single Parlay. If you win your bet your stake is always returned to you.
The minimum number of selections in a Parlay is two; the maximum number six or ten, depending on the sports you choose. In the event of one selection becoming void or pushing, the bet drops down to the next level, e.g. a three-team Parlay would drop to a two-team Parlay; a two-team Parlay would drop to a single bet.
To calculate an American Sports Parlay, you will normally first have to determine whether your selections are fixed or non fixed. Unfortunately, the rules on how exactly Parlays pay out for fixed selections can vary from bookmaker to bookmaker, so you will need to examine the individual rules for further information.
However, for all your non fixed selections, work out the payouts for each selection as normal, according to the odds that are displayed. For instance, if you had three selections at the following odds:
New England Patriots at 5/2
NY Yankees at 5/1
Toronto BlueJays at 4/1
If you staked £1, your returns from each part of the bet would be £3.50, £6.00 and £5.00. These 3 wins are then multiplied together and by your stake, so your total return would be £105.
