How parlay betting works: How to bet parlay, making parlay bets
A parlay bet is a bet made on the outcome of two or more games, where in order of the wager to be a winner all outcomes within the parlay must be winners, as well. It may sound a bit complicated, but let's translate this into a more useful language and you will see how simple it becomes. In simpler terms, the parlay bet consist of two or more bets combined into one and in order for the punter to win the bet - all the bets that are combined into the parlay must be winners. For example, let's say there are three Premier League football games and you believe you can guess the outcome of all three matches. One option to bet this is to simply place a straight bet on each of the three football games and collect your winnings from each bet. But if you go with a parlay instead - you'd be combining all three games into one single wager. Let's get some real numbers to better understand how to bet the parlay.
For the sake of the example, let's say that Game 1 is Man Utd vs. Chelsea, Game 2 is Tottenham vs. Liverpool and Game 3 is Arsenal vs. Wigan. To make this even simpler to follow, we'd assume that all host teams will win their games and the odds on this to happen are as follows: Game 1 (2.00), Game 2 (3.00) and Game 3 (1.25). If you go with a regular straight bet and wager £10 on each outcome you would have won £62.50 and wagered the total of 30, so your actual winnings from the three straight bets would be just £32.50. Not a bad win, but as you would see in a second, making a parlay bet of the three football games would net you much more money. Now let's say you bet the three games using a parlay bet instead. Since the payout of a parlay bet is calculated by multiplying all odds and the sum then multiplied by your wager, we will get much more quid back from this bet. If we made a parlay instead with the three games and wagered £30 on the bet, it would come down to (2x3x1.25)x£30=£225; subtracting the £30 of your own money wagered and we end up with the incredible £195 in pure profit from this parlay bet. As you can see the money a punter can make from a parlay is so much bigger than if one simply wagered the three games individually.
Of course, in order to achieve such a high return, the risk must be greater, and it is. In order for the parlay bet to be a winner, all three games must be winners, as well. Thus making your parlay bet we used s an example three times more risky than if you bet the games separated. It is up to the individual punter to decide whether they want to take the extra risk and reap the much bigger rewards the parlay bets offer or to simply bet using straight wagers and win less. As you can see from the how parlay works example above, you can win some serious money back if you choose to make a parlay bet.