Understanding How & Calculating When To Hedge Parlay Bets

Bet only a dollar or two Free Sports Betting Odds, Lines And Scores on each parlay until you are confident that you know what you’re doing. Also, calculate the odds beforehand so that you can see what your chances of success are. If a winning parlay would give you odds of +50,000, don’t stake as if you’re betting on a +500 event. In the simplest of terms, a parlay bet is a single bet on three or more unrelated events. Each of those events is referred to as a ‘leg’ of the bet.

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Get free access to our NBA betting tools for a full week. An extra three cents is charged for each team that falls under one of the three aforementioned categories in a three or four team teaser. An extra five cents is charged for each team that falls under one of the three aforementioned categories in a two team teaser.

Best Parlay Betting Sportsbooks

For example, you can place a parlay wager where you select the Giants, Lions and Chiefs to all win their games on Sunday. The odds for each of these teams is multiplied together to find your informative post “parlay odds” which are then multiplied by your risk amount to find your potential payout. There are two varieties of parlay odds—computed and fixed. Fixed odds, as the name suggests, are fixed by online sportsbooks depending on the number of games permitted in the parlay bet. Parlay payouts can be easily calculated by multiplying the bet amount with the odds.

All the examples and scenarios above operated under the assumption that the sportsbook gave the odds for the parlays at a fair price. Perhaps the sportsbook would only pay $1,200 on that NCAA tournament parlay. Now that you know how parlays are supposed to work, you can be vigilant against getting shortchanged on a parlay’s odds.

How To Place A Parlay Bet Online

But, just like sportsbooks occasionally offer refunds or free bets after “bad beats,” there’s an argument to be made that this situation could set a bad precedent. That left the Detroit Lions on Monday night against the Green Bay Packers, which the bettor had locked in at +400. There was a happy ending after all to this story that entered the Michigan sports betting conversation. Compare the best and all top bookmakers for sports betting with official European licenses.

A look at the explosion of the single game parlay, which may be the single biggest winner for sportsbooks today. The legality of sports betting in different states is constantly changing. We recommend you have a look at the list of states with legal sports betting further up on this page before you proceed.

Some avid sports bettors might say “why didn’t the player hedge his bet? ” Under the rules of the bet, the player could not cash out and take a lesser amount for what he had already done (estimates are that would have earned him around $150,000). Betting experts usually advice novices to avoid parlay bets and stick to straight bets. Correctly predicting the outcomes of one match is difficult enough, and predicting the outcomes of several matches simultaneously is a bit too risky. At the same time, it is worth noting that bettors who do their research well and know exactly what they are doing can make a fortune out of parlay bets.


With baseball, you are getting a better payout when a +140 or +160 dog wins and that money is parlayed to another dog or favorite. Any parlay betting on any sport is when you combine two or more bets together. A two or three or four team parlay can be a combination of moneylines, spread lines, run lines or totals. This leads to the most straightforward recommendation for new or novice bettors to stay away and stick only to straight bets.

And the Minnesota Twins and Baltimore Orioles actually got knotted at 2-2 and went into extra innings — always cause for concern. But in the bottom of the 10th, Twins second baseman Brian Dozier took Tommy Hunter deep for a game-winning two-run homer. What made this parlay extra special was the fact that it seemed improbable with 14 seconds left in the Eagles vs Packers game.