A parlay is a type of wager where multiple outcomes are selected. Each of the outcomes must win in order for the parlay to win. Any point spread tie reduces to the next lowest number of teams in the parlay. The odds for the number of teams placed in a parlay are based on the pay table below when the selections (point spreads and totals for football and basketball, games and segments) have a default line of -110. Listed below is the BetMGM/Borgata Online pay table.
Let’s say you want to be a $100 4-team parlay on the Packers -7 -110, Patriots -8 -110, Steelers +3 -120, and the Lions +3 -115. In Team #1 I enter -110, Team #2 -110, Team #3 -120 and Team #4 -115. Leave the rest at 0. Then in the wager amount enter 100. Dec 16, 2020 The parlay odds for 2 teams usually pay out 13/5. That means a successful $25 parlay pays out $65. Here’s the question: what would happen if we were doing the equivalent of a parlay bet in single bets? Imagine we bet $25 at -110 on the first team.
All Football and Basketball Parlays
(Point Spreads and Totals all - 110)
(Point Spreads and Totals all - 110)
2 Teams | +260 |
3 Teams | +600 |
4 Teams | +1000 |
5 Teams | +2000 |
6 Teams | +4000 |
7 Teams | +8000 |
8 Teams | +15000 |
9 Teams | +30000 |
10 Teams | +60000 |
11 Teams | +110000 |
12 Teams | +200000 |
13 Teams | +300000 |
14 Teams | +600000 |
15 Teams | +1000000 |
Parlay Odds Selections:
The legs in a Pay Table parlay all must meet the following requirements:
- Football, basketball (excluding money lines) and their halves or quarters
- Point spread or totals
- Default odds that are set at -110.
Maximum payoff on off the board parlays is 10000/1. Acceptance of all parlays is at the discretion of management.
Example 1: The 2-team parlay (See picture below) is a standard parlay paying 2.6 to 1 or 3.6 for 1. Using the Pay Table, $10.00 x 3.6 = $36.00 payout. Pay Table parlays are not calculated using “true odds” (-110 is not .9091 in this case). The Pay Table Multiplier section below explains the way that Pay Table odds are calculated.
PARLAY (2 TEAMS) | |
---|---|
1 PARLAY @$10.00 | |
24Jan PRO FOOTBALL | |
[302] COLTS | -71/2-110 |
22Jan PRO BASKETBALL | |
[702] BOBCATS | -6-110 |
Ticket Cost: | $10.00 |
To Win: | $26.00 |
Collect: | $36.00 |
WRIT2 SR_POS2 | 22Jan18 11:02:40 |
Pay Table Multiplier
This is the factor that, when used for each leg of a parlay, gives the Pay Table payout. For a 2-team parlay at default odds, the factor is a square root. For a 3-team parlay, it is a cube root, for a 4-team parlay, it is the 4th root of the payout.
The return on a 2-team Pay Table parlay at 2.6 to 1 is 3.6 for one, as the payout. The square root of 3.6 is 1.8974. This is the Pay Table Multiplier for 2-team parlays.
$10 X 1.89736 X 1.89736 = 36.00.
Below is the pay table multiplier which is used as the method to calculate pay table parlays when the default odds are -110.The respective Pay Table Multiplier (shown below) by the True Odds Multiplier of the number (other than -110) minus the True Odds Differential (shown below).
2 Teams | 1.89736 |
3 Teams | 1.91293 |
4 Teams | 1.82116 |
5 Teams | 1.83841 |
6 Teams | 1.85693 |
7 Teams | 1.87344 |
8 Teams | 1.87228 |
9 Teams | 1.88536 |
10 Teams | 1.89621 |
11 Teams | 1.89027 |
12 Teams | 1.88409 |
13 Teams | 1.87339 |
14 Teams | 1.86154 |
15 Teams | 1.84786 |
Non-Pay Table Parlays
We use the term Non-Pay Table parlay when at least one leg does not meet requirements 1 and/or 2 of the Pay Table parlay default odds section above.
Sports like Boxing, Baseball, and Hockey use Non-Pay Table Odds. Football money line bets also use them. The True Odds Multiplier section below explains the way that Non Pay Table odds are calculated.
Example 2: The 2-team parlay below uses the True Odds Multiplier because neither leg meets the Pay Table requirements, so $10 x 1.9091 x 1.9091 (rounded) = $36.45 payout.
PARLAY (2 TEAMS) | |
---|---|
1 PARLAY @$10.00 | |
30Jan PRO HOCKEY | |
[2] CAPITALS | -110 |
28Jan BOXING | |
[3605] MAYWEATHER | -110 |
Ticket Cost: | $10.00 |
To Win: | $26.45 |
Collect: | $36.45 |
WRIT2 SR_POS2 | 22Jan18 16:26:24 |
Example 3: The 2-team parlay below uses the Pay Table Multiplier for 105 because it meets all other requirements for Pay Table Odds (see Pay Table Parlays above). Note: The root for the Pay Table Multiplier is based on only the number of legs that meet the requirement. It usesthe True Odds Multiplier for 107 (-1/-120 = .8333) because that leg does not meet requirement 2. Although it is a Football game, it is a money line wager.
$10 x 1.9091 x 1.8333 = $35 payout.
PARLAY (2 TEAMS) | |
---|---|
1 PARLAY @$10.00 | |
Jan 08 NFL | |
NFL WILDCARD PLAYOFFS | |
[105] FALCONS | +3-110 |
Jan 08 NFL | |
NFL WILDCARD PLAYOFFS | |
[107] STEELERS | -120 |
Ticket Cost: | $10.00 |
To Win: | $25.00 |
Collect: | $35.00 |
TIMW BODINES T01 | 5Jan18 09:35:56 |
Pay Table Non-Default Odds
We use the term Pay Table Non-Default Odds when all legs meet requirements 1 and 2 of a Pay Table parlay: 1) Football, basketball, and their halves or quarters 2) Point spread or totals, but at least one leg does not meet requirement 3 because it hasodds that are not equal to the default odds.
Pay Table Non-Default parlays are not calculated using “true odds” (-120 is not .8333). The True Odds Differential section below explains the way that Pay Table Non-Default odds are calculated.
Example 4: The 2-team parlay below uses the Pay Table Multiplierfor default odds for 302 (which meets all the requirements of a Pay Table parlay like Example 1 above). However, the other leg (304 Saints) has non-default odds -120, so a factor called the True Odds Differential is used to adjust the True Odds Multiplier of the -120 to derive the new Pay Table Multiplier for non-default odds -120.
$10 x 1.8974 x 1.8216 = $34.56 (rounded to nearest nickel $34.55)
PARLAY (2 TEAMS) | |
---|---|
1 PARLAY @$10.00 | |
24Jan PRO FOOTBALL | |
[302] COLTS | -71/2-110 |
22Jan PRO FOOTBALL | |
[304] SAINTS | -3-120 |
Ticket Cost: | $10.00 |
To Win: | $24.55 |
Collect: | $34.55 |
WRIT2 SR_POS2 | 22Jan18 11:03:11 |
True Odds Differential
The only time that the True Odds Differential is used is when a leg contains a Pay Table sport that has non-default odds for point spread or totals (Example 4 above has -3-120 instead of -3 -110).
Calculating the True Odds Differential for a Non-Default Odds leg when default odds = -110
(True Odds Multiplier of -110) - (Pay Table Multiplier of -110) = True Odds Differential
1.9091 - 1.8974 = .0117
Calculation to find the Pay Table Multiplier for Non-Default odds -120 in Example 4
True Odds Multiplier of -120 = 1.8333 – True Odds Differential = . 0117
Pay Table Multiplier of -120 = 1.8216
The only exception for not using the true odds differential is when the pay table multiplier exceeds that of true odds (-110 or .9091).
Calculations to find the True Odds Multiplier
When the Leg is a Favorite
When laying odds (money line is less than 0): (-1) x (100)/ (money line) +1.
Example: True Odds Multiplier for Money line: -110: (-1) x ((100)/ (-110)) +1 = 1.9091
When the Leg is an Underdog
When taking odds (money line is greater than 0): (money line)/ (100) +1 Example:
True Odds Multiplier for Money line: +130 = ((+130) /(100)) +1 = 2.3
How does a Parlay work?
Select as few as two or as many as fifteen teams and combine them in one wager. All selections must win for your parlay to be successful. You can combine spreads, totals and moneylines.
What are the advantages?
The benefit of the parlay is that it gives a much higher payoff than if you were to place each bet individually since it’s harder to win all your selections.
Conditions:
- If there is a tie or no action, the parlay reverts to the next lowest number for pay-off, for example: if you select 4 teams and one of those ties, it becomes a 3 team parlay. A tie and win on a 2 team parlay pays out as a straight bet.
- You cannot combine ‘connected’, ‘dependent’ or ‘correlated’ events in the same parlay.
Payout Table:
The odds quoted in the pay-off table below only hold true if all selections in the parlay are at the standard price of -110 (football and basketball spreads and totals).
Variations in the prices will cause variations in the pay-offs.
Variations in the prices will cause variations in the pay-offs.
Payout [all prices -110] | American Odds | |
2 Teams | 13 to 5 | +260 |
3 Teams | 6 to 1 | +640 |
4 Teams | 10 to 1 | +1000 |
5 Teams | 25 to 1 | +2500 |
6 Teams | 40 to 1 | +4000 |
7 Teams | 75 to 1 | +7500 |
8 Teams | 150 to 1 | +15000 |
9 Teams | 300 to 1 | +30000 |
10 Teams | 700 to 1 | +70000 |
11 Teams | 1,100 to 1 | +110000 |
12 Teams | 1,800 to 1 | +180000 |
13 Teams | 3,500 to 1 | +350000 |
14 Teams | 5,000 to 1 | +500000 |
15 Teams | 10,000 to 1 | +1000000 |
Calculating a Parlay:
If the odds in the parlay are not all -110 then the (true) parlay odds are calculated according to the different prices. This is done by multiplying the prices of the selections together, but remembering to include the stake amount. Let's assume you place a $10 parlay on 2 selections, with odds of -180 and +250. The calculation to work out your return is as follows:
First of all, convert the odds into decimal format (just use our decimal format option to view your odds):
With ‘favorite’ prices (denoted by a – (minus) sign):
100/180 = 0.556 and add 1 (to include the stake) = 1.556
With ‘underdog’ prices (denoted by a + (plus) sign):
250/100 = 2.5 and add 1 (to include the stake) = 3.5
Then, to find your total potential return, multiply these odds together and with the stake: 1.556 x 3.5 x $10 = $54.46
Progressive Parlays
A Progressive Parlay is very similar to a normal parlay but, in exchange for not getting as big a payout for picking a perfect combination, you are getting insurance for those occasions when one or more of the teams in your parlay loses.
These can be between 4 and 12 teams but you can onlychoose point spreads (no totals or moneylines). In these parlays you can lose games and still win the bet because the payouts are lower.
4 - 6 teams... you can afford ONE team to lose/push
7 - 9 teams... you can afford TWO teams to lose/push
10 - 12 teams... you can afford THREE teams to lose/push
7 - 9 teams... you can afford TWO teams to lose/push
10 - 12 teams... you can afford THREE teams to lose/push
The Progressive Parlay Payout Table
All selections win | 1 loss | 2 losses | 3 losses | |
4 Teams | 5/1 | 1/1 | -- | -- |
5 Teams | 11/1 | 2/1 | -- | -- |
6 Teams | 20/1 | 7/2 | -- | -- |
7 Teams | 40/1 | 4/1 | 1/2 | -- |
8 Teams | 75/1 | 10/1 | 2/1 | -- |
9 Teams | 150/1 | 20/1 | 5/2 | -- |
10 Teams | 250/1 | 25/1 | 3/1 | 1/1 |
11 Teams | 400/1 | 60/1 | 5/1 | 1/1 |
12 Teams | 900/1 | 80/1 | 10/1 | 3/1 |
Below the table in American Odds:
Progressive Parlay Size | All Win | 1 loss | 2 losses | 3 losses |
4 Teams | +500 | +100 | ||
5 Teams | +1100 | +200 | ||
6 Teams | +2000 | +350 | ||
7 Teams | +4000 | +400 | +50 | |
8 Teams | +7500 | +1000 | +200 | |
9 Teams | +15000 | +2000 | +250 | |
10 Teams | +25000 | +2500 | +300 | +100 |
11 Teams | +40000 | +6000 | +500 | +100 |
12 Teams | +90000 | +8000 | +1000 | +300 |
Please note that Progressive Parlays also differ from regular parlays in the following ways:
- Progressive parlays are not available for MLB, NHL or money-line wagers in football or basketball.
- In a Progressive Parlay, a push or a tie is considered a loss for that selection. However, if a selection has no-action (due to postponement or cancelation), the bet will revert to the next lowest progressive parlay for payoff, except in the case of a 4 team progressive parlay where it results in a no-action on the whole parlay.
Round Robin Parlays
How a Round Robin Parlay works:
Make between 3 and 6 selections and wager on some or all of the possible parlay combinations in one go. Each of the parlays comprising the Round Robin is a separate wager.
You can combine spreads, money lines, totals and different sports in Round Robin parlay bets.
Example:
A three-team Round Robin bet for $10 placed two-ways would consist of all the two-team parlays that can be made from the three teams selected. Taking the Colts, the Eagles and the Giants (all to cover the spread) two-ways, you would be creating three separate two-team parlays and the total cost of the bet would be $30:
Parlay | Teams | 2 team parlay odds | Bet amount | To win | Return |
# 1 | Colts and Eagles | 13 to 5 | $10 | $26 | $36 |
# 2 | Colts and Giants | 13 to 5 | $10 | $26 | $36 |
# 3 | Eagles and Giants | 13 to 5 | $10 | $26 | $36 |
With the above example in mind, you also have the option to place a three-way Round Robin side bet to increase your potential payout (a three-team parlay including all three teams). If you wish, you may risk a lower amount on this 3-way bet, as it may be harder to win:
Parlay | Teams | 3 team parlay odds | Bet amount | To win | Return |
# 4 | Colts and Eagles and Giants | 6 to 1 | $5 | $30 | $35 |
With the selection of 4, 5 or 6 teams, further combinations are possible:
Parlay combinations within Round Robin | ||||||
Size of Round Robin | 2-way | 3-way | 4-way | 5-way | 6-way | Total no. of combinations |
3 team | 3 | 1 | - | - | 4 | |
4 team | 6 | 4 | 1 | - | - | 11 |
5 team | 10 | 10 | 5 | 1 | - | 26 |
6 team | 15 | 20 | 15 | 6 | 1 | 57 |
Odds On 2 Team Parlay
To place a Round Robin Parlay please follow these steps:
- Log-in to your account
- Choose the sport type on which you wish to bet
- Add your selection(s) to your betting ticket by clicking/tapping on your selected odds/prices on the betting card
- As soon as you have made at least three selections Round Robin Parlay will appear on the Parlay tab visible at the top of the betting ticket.
- Choose the required parlay combinations (2, 3, 4, 5 and/or 6-way) and the amount you would like to wager on each group of combinations.
- Review your selection(s) again before clicking/tapping PLACE BET.
The table above illustrates the possible number of combinations for the different sizes of Round Robin. It is not obligatory to choose all combinations.
Furthermore, it is possible to vary the amount risked on each group of combinations. For example, if you are making a 4 team Round Robin with 2-way and 3-way combos, you may wish to bet a higher amount on the 2-way combos which are easier to hit and a lower amount on the 3-way combos in which it would be harder to be successful.
The total value wagered and total potential payout will be displayed on the summary on the lower right hand side of the window. Once you have submitted your wager, a range of Bet IDs will be provided. Please make a careful note of the range for wager tracking purposes. (Please note: Bet IDs within the range may not necessarily be sequential).
All Sport Parlay Wager
The All SportParlay Card (also known as a Cross Sport Parlay Card) offers the opportunity to place a parlay bet on a variety of different sport-types including US and non-US sports. Log in to your account and click on PARLAY CARDS > All Sport Parlay Card to display all the lines we're currently listing for use between sport types.
Alternatively, you may also be able to parlay events which do not appear together in the same parlay card. For example, bet soccer and baseball in the same parlay. Or parlay the 1st half lines of an NFL game with a boxing match.
To do this, simply add to the betting ticket the line of one of the events you would like to parlay, let's say a boxing fight, from the BOXING + MMA section of the site, then go to theNFL area and add to the betting ticket the first half line you want, if they can be parlayed the system will show the option to do so in the betting ticket.
You will not be given the option to buy points on US football, basketball spreads or totals. The maximum bet allowed depends on the prices of the selections in the parlay. You can find out the maximum you can lay by clicking the max bet button. Events available on the All Sport Parlay Card may vary depending on the day and time.
7 Team Parlay Payout
Note: Management reserves the right to limit the maximum amount wagered prior to acceptance of any bet.
No parlay wagers can be accepted where individual wagers are 'connected', 'dependent' or 'correlated'. For further details, check 'correlated events'.
No parlay wagers can be accepted where individual wagers are 'connected', 'dependent' or 'correlated'. For further details, check 'correlated events'.