• Simply put, a Time Zone Parlay is a multi-team parlay sports bet where each game in the parlay must end before another game in the parlay starts. This gives the sharp bettor a chance to hedge off, or bet against the play in the parlay. By doing this the bettor is accomplishing the most important aspect of betting which is minimizing losses.
• A parlay is a selection of 2-12 bets combined in one wager. To win the parlay, each bet must win. The more bets added, the greater the payout based on true odds.

A parlay bet is a popular form of sports wagering most gamblers are familiar with. In case you’re not, this bet is rather easy to understand. A parlay is simply a combo bet where, rather than betting several teams individually, you group them into a single wager. Using this option, the payout is greater and the risk is less, but you need all teams selected to win.

Bovada covers all the major sports. They offering straight bets, teasers, if bets parlays, futures, and props on just about any sport. This makes Bovada one of the best Online sports betting sites.

To give an example, say you’re interested this week in betting Jets -4, Patriots +3, Dolphins +2.5 and Colts -7. If your bankroll is limited to just $100, using straight wagers you’d make four separate bets of $25 to win $22.73. If you we’re feeling both lucky and in the mood to gamble, you might instead bet them all together as a four team parlay. Under the parlay option, the stakes would be $100 to win at least $1,000. To win, you’ll need to go 4-0; if one or more games push while all others win, the payout is reduced, and with any other outcome, the bet is a loss.

What happens if there’s a push in a parlay? That bet will be taken out of the parlay and the payout will be reduced as if there were one fewer team in the parlay. So if you had a 4 team parlay and you got three picks cocrrect and the other was a push, you would be paid out the odds of a 3 team parlay.

Parlay bets can be very tempting as they can offer some big payouts. See a recent parlay Kevin made at 5Dimes.eu and cashed in on!

Are Parlays Sucker Bets?

There is a general misconception in sports betting that all parlays are sucker bets. This is simply because most sports bettors are not familiar with how they work, or how to bet them properly. In this article, I’ll address parlay betting strategies, but first let’s look at parlay odds and how they are calculated.

The parlay odds at most Las Vegas sportsbooks are:

2 teams 2.6 to 1
3 teams 6-1
4 teams 10-1
5 teams 20-1
6 teams 40-1
7 teams 80-1
8 teams 150-1

Online the odds are similar, though some sites such as BetNow and MyBookie offer better odds starting with three teams and up. What’s important to note is that these are fixed odds based on a 50/50 wagering proposition. If a spread is listed at Home Team -7 / Road Team +7 this is 50/50 proposition. If, instead, the spread was Home Team -7 -105 / Road Team +7 -115, this is no longer a 50/50 proposition, and the payout will be calculated using a method bookmakers refer to as “true odds”. I’ll cover that later in this article, but first let’s take a moment to understand where fixed parlay odds are derived from.

Let’s say you decide for the next eight weeks you’re going to bet the Monday night football game, starting with a $1.00 bankroll and betting your entire bankroll each week until you go 8-0 or bust. The potential win is as follows:

Week 1: $1.00 to win $0.91: If win total profit = $0.91 (Bankroll =$1.91)
Week 2: $1.91 to win $1.74: If win total profit = $2.65 (Bankroll =$3.65)
Week 3: $3.65 to win $3.32: If win total profit = $5.97 (Bankroll =$6.97)
Week 4: $6.97 to win $6.34: If win total profit = $12.31 (Bankroll =$13.31)
Week 5: $13.31 to win $12.10: If win total profit = $24.41 (Bankroll =$25.41)
Week 6: $25.41 to win $23.10: If win total profit = $46.51 (Bankroll =$47.51)
Week 7: $47.51 to win $43.19: If win total profit = $89.70 (Bankroll =$90.70)
Week 8: $90.70 to win $82.45: If win total profit = $172.15 (Bankroll =$173.15)

The reason parlays are often sucker bets shows up in this middle column. Had you bet these in an 8 team parlay, you’d only get paid 150 to one. Essentially, a parlay is no different than betting all in each time, only parlays generally pay much worse. However, you’ll notice the odds are not poor until you get to four teams, where the sportsbook has a whopping 31.25% advantage. Two teams pay a smidgen worse than the manual parlay (all in each time) option, where three team parlays pay a smidgen better. Rarely ever is a 2 or 3 team parlay a true suckers bet.

What Does a Parlay Pay?

As I mentioned earlier, fixed parlay odds vary greatly between online sportsbooks. Here is some info on which sites offer the best fixed parlay odds:

In general two team parlays pay +260, or $260 for every $100 bet. BetNow offers +264.5, and 5Dimes.eu offers +264, which is better than the +260 most betting sites offer.

3 team parlays pay 6/1 or $600 for every $100 bet. BetOnline.ag is the leader in the industry in 3 team parlay payouts.

This is the area where betting sites generally hurt the sports bettor, paying only 10 to 1, which gives them a 31.25% advantage. This can be avoided when betting at BetNow where the payout is +1228.3, or at 5Dimes where it is +1228.

Generally speaking, parlaying 5 teams or more teams is not a good idea; however, for sports gamblers looking for a lotto ticket, 5dimes.eu and Bookmaker.eu each offer up to 15 team parlays and have by far the best odds in the business on these.

How much does a 15 team parlay pay? A 15 team parlay will pay out over +16,000. I just tested this out and a $1 15 team NFL parlay at -110 odds will payout $16,306. Good luck hitting on that!

True Odds Parlays

1 Earlier, I mentioned fixed odds are only given when all selections are 50/50 propositions. If one side of a line requires a greater stake than the other to yield the same payout, this is not a 50/50 proposition, and the bookmaker will now use “true odds”. What’s important to note is that true odds doesn’t actually mean the “true odds” of winning. Rather, true odds pays the same as if you bet each team individually and rolled the profit forward each time, which is what I showed in the example of 8 all in bets starting with a $1.00 stake.

To calculate true odd parlays, each bet first needs to be converted into a multiplier. To do this, take what a winning ticket would return and divide it by the amount risked. For example, at -110 a $110 stake returns $210 ($110 stake + $100 win). Calculating the multiplier as return/risk here, we plug in 210/110, which means the multiplier is 1.91. If we did the same on -115, the multiplier is 215/115=1.87.

Let’s say you’re in the mood to gamble on an 8 team parlay, but the only out available to you is a bookmaker paying 150-1 fixed odds. A trick of the trade here is to include one bet that is priced differently than -110 in order to force the bookmaker to use true odds. So, let’s say you make 7 selections priced at the standard -110 pricing and one at -115. A true parlay calculates by multiplying each modifier together. The math is 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.87, which equals 173.41. This bet returns 173.41 times the stake, which includes the risk amount, so the bet is 1 to win 172.41. Notice this is significantly better than the fixed odds payout of 1 to win 150 on an 8 team parlay. In short, the trick of the trade when dealing with poor fixed odds is to simply add one team to the parlay that is priced differently than the standard -110.

As you can now see, if you know how to bet parlays properly, they are not always sucker bets. There are, however, a few reasons that parlays are generally not a good move. I’ll cover these, and then cover the times it does make sense.

Top Reasons to Avoid Parlays

1) Progressive betting systems are generally regarded as poor strategy for both bankroll management and bankroll growth. Professional bettors make wagers based on their quantified edge per game. While the math can work out, doing the math for proper bet sizing on a parlay is a lot of added work with little to no upside for most sports bettors.

2) Parlay bets have higher variance than straight bets. Here you’re getting the same odds, but your chance of hitting a dry spell is greatly increased. When the odds are the same it is most often better to go with the lower variance option, which in this case is straight wagers.

3) Line Shopping – Sports bettors maximize their profit by always shopping for the best price. For example, finding -4 when other sites are -4.5, and finding reduced vig options such as -104 instead of -110. When betting parlays, you’ll need to find the most favorable odds for each team at a single betting site. This scenario is rare, so generally you’ll end up with better odds by making straight wagers at multiple betting sites.

Parlays That Make the Most Sense:

Reduced Juice – BetOnline.ag offers 6.5 to one on three team parlays. This comes out better than betting sides at the -105 price standard reduced juice sports books offer. In sports such as NFL football where 50/50 wagering propositions are common, a sports bettor gets far superior odds by betting 3 team parlays at BetOnline.

Correlated Parlays – If a bookmaker was offering betting lines on both “will it be cloudy today?” and “will it rain today?”, if allowed, you’d be much better off betting either both as no, or both as yes, in a parlay bet as opposed to straight wagers. While this is a simplified example, there are plenty of times when outcomes are correlated in sports betting. For example, a handicapper might determine that if one team covers the spread, the game is more likely to go over or under the posted total. Also, during the final week of the NFL season, a certain team winning or losing the day game might result in a previously important night game now having no meaning in the playoff race.

Free Play Bonuses – Several online betting sites, for example BetNow, offer players free bets based on the size of their initial deposit. Free play bonuses are not the same as cash. The difference is that a bet made with cash returns both stake and win, where a bet made with a free play returns only win. Parlays allow you the chance to use the same free play more than once, because a parlay really is only a wager that continues to place stake+win on the next selection. Remember, fixed odd three team parlays pay a little better than true odds. So when using free plays to bet 3 team parlays, you’re getting slightly better odds, and also a chance to apply that free play stake to three different bets. This is common knowledge that 3 team parlays are a great use of free play bonuses.

Circumventing Betting Limits – I’ll warn you upfront that betting sites do not take kindly to this, and it might get you banned. The basic idea here is, say you find a parlay with monster value in a small market with low betting limits. Let’s say a woman’s field hockey line opens at +150 when it should be +100. Here making ten unique two-team parlays, using the +150 bet with a random -110 each time might be advantageous, as on average you’ll get down 5 times the max bet. At -110 juice the expected ROI is less, but to get the maximum amount down on line of significant value, it might make sense. While personally I rarely use this strategy online, I do attempt to get away with it in Las Vegas from time to time. This takes a little bit of acting, such as starting to walk away from the cage and then saying wait, also give me… Know this: It is a trick of the trade advantage players use that is not for novice bettors.

This concludes our article on parlay betting. As a final tip: if you enjoy using parlays as a lottery ticket, www.Bovada.lv runs a $10,000 weekly parlay jackpot during football season, which is an added bonus on top of what a $5 stake pays on a 10 team parlay win. To learn more, see the promo section at www.Bovada.lv. If nothing else, this article gives you some great conversation material next time someone in the sports bar says, parlays are for suckers. Hopefully, it ends up being much more than that, adding extra winnings to your bankroll. Either way, we wish you the best of luck.

Other Advanced Sports Betting Strategy Articles:
» Teaser Betting Strategy
» Prop Betting Strategy
» How To Get Max Value When Betting

Parlay

A parlay, or combo bet, is a selection of 2-12 bets linked together. Winning the parlay requires all of the individual bets winning- even one losing bet can deem the parlay a loss. Of course, more risk, more payoff, so when you add more bets to your parlay, you increase your potential payout.

Suppose the New York Giants (-3) are playing the Philadelphia Eagles. At the same time, the New England Patriots (-8) are playing the Miami Dolphins. You believe both the Giants and the Patriots will cover their respective spreads. So instead of placing two straight bets, you can place a parlay. You win if you’re right about both games. However, you lose if one of the teams fails to cover.

How to Place a Parlay Bet

1. After logging in, click Sportsto open the Bovada Sportsbook.

2. Select the desired sport from the left navigation panel.

3. By default, the page will only show open events or those that have lines available for betting (either game lines or live betting).

4. Select your desired lines by clicking the appropriate boxes (up to a maximum of 12). Your selections will be added to the Bet Slip on the right of the page. Note that you can add point spreads, moneylines, totals, props and futures to the same parlay, but there may be restrictions when parlaying lines from the same event or when lines are “singles only” (see Color Indicators help page).

5. Your selections will show in the Bet Slip on the right side of the page. Select ‘Parlay‘. Then, add any “point buys” you might require (when available).

6. Enter a risk amount in the box provided. Once you enter a risk amount, your total win amount is automatically calculated for you.

7. If you want to remove a line entirely from the Bet Slip before proceeding, click the ‘X‘ icon beside the selection.

8. Click ‘Review Bets‘.

9. Confirm the details of your parlay. If you want to proceed, click ‘Place Bets‘. If not, click ‘Edit‘ to change the wager details.

10. Once your parlay bet is placed, you will reach a confirmation window showing you your final bet details, including your wager reference number.

Bovada Super Bowl Prop Bets

11. Click ‘Continue Betting‘ to return to the lines page.

Parlay Payouts

All of our parlay payouts are calculated based on “true odds”, which depends on how many teams are selected and the odds on those teams. If each pick of your parlay is a standard line (i.e., -110, where you must wager $110 to win $100), then the chart below will give you an approximate estimate of your payout:

Parlay Size Payouts
2-Team 2.645/1
3-Team 5.958/1
4-Team 12.283/1
5-Team 24.359/1
6-Team 47.413/1
7-Team 91.424/1
8-Team 175.446/1
9-Team 335.852/1
10-Team 642.082/1
11-Team 1226.701/1
12-Team 2342.793/1

Note: Actual payout may be slightly more or less due to rounding.

To calculate your winnings, simply multiply the odds by your bet amount. For example, suppose you bet $10 on a two-team parlay where the odds of both picks are -110. You stand to win $26.45 ($10 x 2.645/1). Your total payout would be $36.45 (the $26.45 you won plus the $10 you wagered).

For parlays involving moneylines or picks at off-standard prices (i.e., -105 or -115 etc.), you need to first find the multiplier for each pick in the parlay and then multiply your bet amount by the product of the multipliers. For example, suppose you bet $10 on a two-team parlay where the odds of the two picks are -140 and +120:

Moneyline Multiplier
-140 1.71
+120 2.20

Your total payout, which is your winnings plus your original wager, is calculated as follows: 10 x 1.71 x 2.20 = $37.62.

The maximum wager payout for the Bovada Sportsbook is $100,000. No wager payout will exceed this amount under any circumstances.

Parlay Rules

The following rules apply when you place a parlay.

1. You must select a minimum of two lines and a maximum of 12 to place a parlay.

2. A push reduces the number of selections in the parlay. For example, a four-team parlay with two ties reduces to a two-team parlay, and the payout is re-calculated based on the reduced number of teams. A two-team parlay with one push reduces to a straight bet. If a parlay reduces to zero teams, the bet will be graded “Push” and your risk amount will be refunded.

3. With the exception of pushes, all wagers must win for the parlay to be considered a win. If one wager loses, the entire parlay loses. There are no partial payouts.

4. If any leg of your parlay has been graded “No Action”, the parlay will reduce to the next number of teams in the wager. For example, a three-team parlay with one leg graded “No Action” will reduce to a two-team parlay, or a two-team parlay with one leg graded “No Action” will become a single wager on the remaining team. The payout amount will reduce to reflect the remaining teams in the parlay. Essentially, a “No Action” wager has the same effect as a “Push” in a parlay.

5. You can’t include triangled lines, quarter lines (1Q, 2Q, 3Q, and 4Q), and fifth inning lines (5inn.) in parlays.

6. You can’t include same game props in a parlay.

7. You can’t combine point spreads and/or moneylines for the same team from the same game, even if the lines are from different segments of the game.

Nfl Parlay Sheets

8.You can’t combine 1H and full game lines of the same line segment for the same event as those lines are correlated. Nevertheless, you can combine point spreads and/or moneylines for the full game with 1H totals of the same event and vice versa.

Parlay Bet Bovada

9. You can’t include both sides of the same bet type (point spread, moneyline, or total) from the same segment of the game. Using the example above, the following parlay would be invalid:

Best Parlay Odds In Vegas

· Over (1H) with Under (1H)