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Considered by most sports bettors to be an "exotic", or non-traditional, type of bet, a parlay allows you to place a bet on the results of 2 or more sporting games or events in order to increase the payout. So if Team A was playing against Team B in one game, and Team C was playing against Team D another game, you could make a 2 team parlay bet in which teams A and C are the winners, and if they do, you will receive a much higher payout than if you placed a simple straight bet on just one of the games.
A consolation parlay card is a special parlay card where you don’t have to win every pick. You can select 4-10 sporting events and even if one loses, you will still win! On 8-10 team parlay cards, you can even have 2 or 3 loses and still get paid.
See our Consolation Parlay Card Payouts below:
| # of Picks | All Winners | 1 Pick Loses | 2 Picks Lose | 3 Picks Lose |
|---|---|---|---|---|
| 4 | 6 to 1 | 1.5 to 1 | --- | --- |
| 5 | 12 to 1 | 1.5 to 1 | --- | --- |
| 6 | 24 to 1 | 2.5 to 1 | --- | --- |
| 7 | 45 to 1 | 3 to 1 | --- | --- |
| 8 | 75 to 1 | 14 to 1 | 3 to 1 | --- |
| 9 | 150 to 1 | 14 to 1 | 3 to 1 | --- |
| 10 | 350 to 1 | 19 to 1 | 4 to 1 | 1 to 1 |
For Example, a 10 team parlay card for $10 will pay $3,500 if all 10 picks win. If you win 9 out of the 10 you will receive $190, if you only have 8 winners then you win $40, and if you were to lose 3 games and have 7 winners you would get your $10 back.
Note: A push or a tie is considered a loss and a No-Action bet would revert to the next lowest parlay. A No-Action bet could be from a cancelled, suspended or post poned game that is not considered final based on gambling rules.
Important: All Parlay and Teaser Cards submitted cannot be cancelled or changed for any reason.
Of all the exotic wagers, Parlays are by far the most popular. They offer the potential for a big payoff from a small wager.
As stated before, a parlay is a group of wagers on two or more teams that must all win in order for your bet to be considered a win. No matter how many teams are in a Parlay, losing one game is no different than losing all of them; all of your picks must win, or in some cases at least tie, for you to win the parlay.
The two most basic types of parlays are Point Spread Parlays and Money Line Parlays. The payoffs on each type of parley are quite different, should they win. In Point Spreads Parlays payoffs are fixed, while Money Line Parlay payoffs are determined by the odds on each team. Below is a detailed explanation of the two:
Odds on your typical Point Spread Parlay, including totals, tend to be something like:
| Number of Teams | Odds |
|---|---|
| 2 teams | 13-5 |
| 3 teams | 6-1 |
| 4 teams | 10-1 |
| 5 teams | 25-1 |
| 6 teams | 40-1 |
| 7 teams | 75-1 |
| 8 teams | 150-1 |
| 9 teams | 300-1 |
| 10 teams | 600-1 |
So when a bettor makes a wager on a five-team parlay he stands to win $25 for every $1 if all of his picks win. This alone makes parlays extremely popular with many people, especially sportsbooks.
A Point Spread Parlay assumes a 50-50 chance for each team of winning; a Money Line Parlay does not. The chances of favorite teams defeating underdogs tend to be far greater than 50-percent, so Money Line Parlays are figured differently as a result.
Because the odds of winning vary greatly from team to team, Money Line Parlays do not use fixed odds, and instead recalculate your payoff every time a team wins based on the odds of the next one.
In layman's terms, Money Line Parlays take the amount of your bet and place all of it on one team. If that team wins, it then recalculates your bet amount on the next team, placing your entire wager one more time on that single team, and so on for each team in the parlay.
For example: Team A's Money line is +160 and Team B's is -130. If you place a $10 wager, you would basically have a $10 bet on Team A +160, which will return $26 should the team win. After Team A wins, the parlay continues as a $26 bet on Team B -130. Should Team B also win, you would have risked $10 to win $46. While this bet had a $36 profit, a similar 2 team Point Spread Parlay would have had only a $26 profit. This difference in payoffs is the result of Team A not having very good odds of winning.
You can visit the Calculate Parlays page to help you understand how parlays are calculated. You can also use the handy Parlay Calculator to calculate Money Line Parlays of up to 8 teams and instantly know the total payout of your potential bet.
The above two examples are the most basic forms of parlays. Many books offer a great variety of parlay options, letting you place bets across multiple sports, multiple days, or even seasons. Most places accept parlay bets on up to 12 teams at a time, and if you win a 12 team parlay, your payout will amount astronomical with just a minimal money investment. One 12 team parlay advertised to pay $2040 per $1 bet would net you a whopping $204,000 for a $100 investment, if you guess the results of 12 games correctly.
But before you run out the door to place a parlays bet like crazy, remember that while the parlay bet can pay big, the odds of predicting multiple outcomes in one bet are exponentially stacked against the player, making many sports bettors also consider it a sucker's bet.
Smart players place higher bets on 2 to 4 team parlays and only bet a couple of dollars on parlays of 5 picks or more, which are obviously much harder to win. Careful study sports and knowing how some teams are doing during a season goes a long way to help you win, and with some luck, even crushing the book completely. Otherwise you're going to walk away empty handed, and very frequently.
With all this in mind, the real question then becomes:
For small number parlays, and if you have done your homework and feel pretty confident about the outcome of your picks, parlays are relatively good choices. A baseball games' outcome tends to be determined by pitching matchups most of the time, so baseball parlays tend to be very popular. Try to be up to date with this information, and make informed decisions on your picks. In Europe and some parts of South America, soccer parlays are also popular, especially during play-off or league championship matches. Betting on the local favorite is something very common. If in luck you can win some extra money on your bet than usual.
So, give Parlay bets a try if you feel like it; just visit your favorite online sportsbook, browse their betting options, and select "Parlay". Start small to get your feet wet; choose ether a low number of games to play on initially,0 preferably 2 or 3, or bet a small amount on parlays of 4 teams or more. Most sportsbooks will take Parlay bets of $1, in part because the advantage is in their favor.
But above all have some fun, play it safe, and Good Luck!
JazzParlayCards.com provides Parlay wagering information on behalf of Jazz Casino & Sportsbook, a division of DPT Sports Group. Offering Open Parlays and Parlay betting and Teaser betting for more than ten years, JazzSports is renown throughout the industry as the place to go for Parlay Cards.