How to Place a Parlay Bet

A parlay is a type of cumulative bet where the customer can choose from two up to fifteen teams and the payout will increase as selections get higher. In order to win the wager all of the selections must be winners. Even if only one of the selections loses, the entire play will become a loss. The benefit of Parlay wager is that the more selections made the bigger payout will be.

Rules

  1. You may combine any point spread, money line and/or totals from any sport/event open for parlays.
  2. If any selection of a parlay is a loss, the entire parlay will be considered a loss.
  3. If any selection of a parlay is a Push, Cancellation, Tie, or if any of the events are graded as No Action, the parlay will revert to the lower amount of teams, and so the payout will change. In a case of a two team parlay, it will revert to a straight wager in which the risk amount will remain but the payout will change.
  4. Related combinations within the same game or associated periods are not allowed.
  5. Regardless of any sport or line the maximum parlay payout is $100,000

All parlay payouts are calculated at true odds. The exception is where all selections are priced at -110. In this case the payout odds below apply.

Parlay Payout Table for Standard -110 Parlays

2 team 13 to 5
3 team 6 to 1
4 team 10 to 1
5 team 20 to 1

Customer may estimate Parlay Payoffs when the price is different than -110 by following this steps (example provided):

Let's say you played Cubs +150 and Cubs game over 9 -120 in a two team parlay and you wagered $100. Use the following steps to determine your winnings or should we say potential winnings.

  1. Calculate Parlay Factor for each team: if the price of the team is positive + simply add one to get factor, if the price of the piece is negative - calculate reciprocal, multiply by -1, and then add one.
  2. 1.50 + 1 = 2.50

    -1.20 (take reciprocal or divide one by the negative price) 1/1.20 = 0.83 + 1 = 1.83

  3. Multiply all factors, then multiply this factor times the bet amount and the result is the payout (including your bet)
  4. 2.50 x 1.83 = 4.57 (now multiply this times your bet) x 100 = 457

    $457 is your total return if both pieces win (including your bet amount)

  5. Subtract from previous result the amount wagered, and this last step will give an estimated payout amount of the play.
  6. 457 - 100 = 357 Winnings

This will also work for three, four, five, six... team parlays, simply follow the steps. Note: This will provide an estimated amount; actual winnings may differ due to rounding rule.