It takes time and work to turn a small wager into a hefty payday. Though some people (THIS GUY!) have needed only 30 minutes to spin $10 into $650 on a video poker machine.
One recent FanDuel Sportsbookbettor heard that tale and said, “Hold my beer.”
The true odds for this 3 leg parlay are actually 8-1 given that each individual leg is a 50/50 chance of landing. No wonder sportsbooks actively promote the points spread parlay! The only caveat to the poor value of the point spread parlay is if the bettor firmly believes they have found games where the sportsbooks have the handicap wrong. A bettor from Nevada won $9,676 during the weekend after hitting a 10-team parlay on Ukrainian table tennis via a William Hill mobile sports betting app, according to the Las Vegas Review Journal. 5-Leg NFL Parlay for $250,000. In 2017 an MGM bettor in Las Vegas decided to put down a wager on a 5-leg parlay that featured 4 favorites (Ravens, Patriots, Chiefs, and Raiders) and concluded with the Detroit Lions. Unlike the previous parlay, there was quite a bit of money placed on this one, $8,500, but the payout was huge.
According to a sportsbook spokesman, a New Jerseysports betting customer took $20.13, built a 15-leg parlay and came away with a whopping $178,221.66.
Not a bad Wednesday.
Not intimidated by long odds
Playing through the FanDuel online sportsbook, the lucky bettor faced what, for most everyone else, would be insurmountable odds.
Statistically, this user would have more luck finding a pearl in an oyster than hitting the parlay. Even winning an Oscar carries better odds. (Bet on it.)
Per FanDuel Sportsbook, the true odds of hitting the 15-leg parlay — which included moneyline, point spread and predicting first-half winners in the NBA and NCAA men’s basketball games — stood at roughly 16,500-1.
NBA legs of the parlay
Six legs of the miraculous parlay involved NBA action. Here are the bettor’s picks:
| Game | Market | Price | Pick |
|---|---|---|---|
| Wizards at Bucks | First-half winner | -390 | Bucks |
| Spurs at Warriors | First-half winner | -550 | Warriors |
| Suns at Jazz | First-half winner | -650 | Jazz |
| Pelicans at Bulls | Moneyline | +102 | Pelicans |
| Rockets at Kings | Point spread | -110 | Rockets -3 |
| Hornets at Mavericks | Point spread | -115 | Mavericks -5.5 |
Fortunately, only one game really hung in the balance.
After all, the Milwaukee Bucks led the Washington Wizards 50-35 after the first quarter en route to an 85-65 halftime lead. (The Bucks eventually polished off their highest-scoring game of the season, a 148-129 victory.) Similarly, the Golden State Warriors cruised to a 66-52 lead at the break, and the Utah Jazz went into the half up 56-46.
Even the New Orleans Pelicans’ game, a 125-120 win, was not that close, as the Chicago Bulls poured in some garbage points to narrow the gap. And of course the Houston Rockets laid waste to the Sacramento Kings, outscoring Sacramento 44-17 in the second quarter en route to a 127-101 victory.
The only concern came with the Dallas Mavericks, whose win was never in doubt, really, during the game’s waning moments. Dwight Powell made two free throws with 9.2 seconds left to push Dallas in front by six points. But the Charlotte Hornets had several opportunities to spoil the parlay, though two missed shots and a turnover secured the Mavericks cover.
NCAA legs of the parlay
Like the NBA picks, most of the bettor’s NCAA selections were never in doubt, with six of nine chosen teams winning by double digits.
| Game | Market | Price | Pick |
|---|---|---|---|
| Maryland at Nebraska | Moneyline | +125 | Maryland |
| Georgetown at Providence | Moneyline | +180 | Georgetown |
| LSU at Mississippi St. | Moneyline | +135 | LSU |
| UConn at Temple | Point spread | -110 | Temple -3.5 |
| Clemson at Georgia Tech | Point spread | -110 | Clemson -3.5 |
| Notre Dame at Miami (FL) | Point spread | -110 | Miami (FL) -3.5 |
| Rhode Island at Davidson | Point spread | -110 | Davidson -4 |
| Wisconsin at Minnesota | Point spread | -110 | Wisconsin -2 |
| Baylor at Texas | Point spread | -110 | Texas -3 |
Of the moneyline picks, Maryland handled Nebraska 60-45, and Georgetown dispatched Providence 76-67, both on the road.
Overtime was needed for LSU, which missed two shots within the final 5 seconds of regulation to send the game to an extra period. There, the Tigers got a 3-pointer from Naz Reidwith 11 seconds remaining to seal their 92-88 win over Mississippi State.
Five of six point spread picks went smoothly for the FanDuel bettor. The second-closest game of the picks was Texas beating Baylor 84-72.
Some sweat certainly poured during Wisconsin-Minnesota, during which the Badgers narrowly covered their 2-point spread. Wisconsin, which never trailed and was only tied twice, led 49-46 with 2:11 to play but pulled away enough to pay out with a 56-51 victory.
As a result, a $20 wager became a cool $178,000.
One bettor hit this INSANE 15-leg hoops parlay last night😲💰
✅ Bucks 1H
✅ Warriors 1H
✅ Jazz 1H
✅ Pelicans ML
✅ Rockets -3
✅ Mavs -5.5
✅ Maryland ML
✅ Georgetown ML
✅ LSU ML
✅ Temple -3.5
✅ Clemson -3.5
✅ Miami (FL) -3.5
✅ Davidson -4
✅ Wisconsin -2
✅ Texas -3 pic.twitter.com/soNpxZXxrQ
— FanDuel Sportsbook (@FDSportsbook) February 7, 2019
A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games.
The allure of these bets has always been a larger payout than choosing a single team to win. But there’s more gamble to these types of wagers because every “leg” of the parlay needs to not lose in order to win. If one leg loses, the whole parlay loses.
The flexibility of a parlay bet also makes it attractive to gamblers. You can combine multiple sports into your parlay bet; for example, you can include the Cowboys from the NFL, the Celtics from the NBA and the Coyotes from the NHL into a single bet. If they all win, you win.
Test out the parlay calculator above and compare odds at different sportsbooks to see how it works!
Placing a parlay bet
There are two ways to place a parlay bet and both are quite simple. Bettors can either tell the ticket writer directly which teams and totals they’d like to bet on and how much they’d like to risk on the bet. Filling out a parlay card is the other option for placing this kind of bet. Once the card is filled in, the bettor simply needs to visit the sportsbook desk to place the bet.
Some mobile sports wagering apps offer both types of parlay bets.
Get the best parlay deal at online sportsbooks with Parlay Insurance here:
Winning a parlay
There are two instances when a parlay can be a winning bet. A parlay only wins if none of the sides, totals or moneylines selected is a loser. The parlay can still be a winner if a game is canceled or ends in a tie. The pay schedule will simply more down to the lesser payment. For example, the bettor will win if a baseball parlay for four teams has three winners and one game is canceled because of rain. The bet will only pay based on the schedule for three winners instead of four as originally planned. The bet is a loser if one pick for a parlay is wrong.
Parlay odds
Parlay Calculator 10 Teams
Not all parlay payouts are the same. Sportsbooks may have different odds for the number of teams bet in a parlay. This can be very confusing when looking at online sports that have different odds and payouts for the same parlay. Further, these odds may change at any time so bettors should check with the ticket writer in sportsbook before placing a parlay.
Parlay payouts
Payouts for a parlay are fixed by the time the bet is placed. Even if the lines and odds for an individual game move, the parlay lines and odds won’t change from when the parlay bet was placed. The parlay bet won’t be changed whether the lines change for or against the bettor.
If the lines change for a game, or games, in the favor of the bettor another parlay may be bet with the new line. The original bet cannot be changed and the bet will stand. The good news is that the bettor has two live parlay bets.
Types of parlays
A parlay is a type of sports bet and there are different variations of this kind of wager. The most common types of parlays are Round Robin parlays and Teasers.
Round Robin
A Round Robin bet is placing multiple parlay wagers at once. It’s just that simple. Round Robin bets are just a way to simplify making multiple parlays. When a bettor “Round Robin’s” teams in sports betting it’s similar to a horse bettor “boxing” horses for an exacta or trifecta bet in a race.
The bettor will select anywhere from 3 to 8 teams or totals to be in the Round Robin. They will then choose how many teams or totals they’d like to tie together for the Round Robin. For example, a bettor may select eight teams and totals for a Round Robin and tie the parlays to as many three-team combinations as possible.
The combination of teams will dictate how many different parlays the bettor has. Continuing the example, if a bettor wants to Round Robin eight teams they will have 28 different parlays if they choose two teams. If the bettor chooses to make three-team parlays they will have 56 different parlay tickets.
The ticket will cost the amount chosen for each parlay. If the bettor only has $300 they might choose to Round Robin the teams by two, so they have 28 different parlays for $10 each. The payout for each winning parlay is the same as it would be if the parlay bets were each made individually.
Teaser
Las Vegas Parlay Payout
A teaser is similar to a traditional parlay where the bettor can select multiple teams or totals. However, there are no moneylines allowed with a teaser. Unlike a parlay, the bettor may move each point spread or total plus or minus a certain number of points. The additional points on the spread or total make these bets easier to win and thus they pay less than a traditional parlay.
Teaser bets can change the point spreads or totals anywhere from six to 10 points. However, each leg of the teaser must use the same number of points. Those legs of the teaser may go in different directions.
10 Leg Parlay Calculator
- For example, the New England Patriots -7 can be teased down six points to -1. Meanwhile, the Cleveland Browns can be teased up six points from +4 to +10 points.
Much like a traditional parlay, the more teams involved with a teaser the better the payoff. Again, different sportsbooks have different odds and rules so they might have different payouts and teaser options available to bet.
Parlay Cards
The more popular way to bet parlays in casinos today seems to be with a Parlay Card. These are the long narrow cards where bettors fill in the numbered circle of the side or point spread they want to include in their bet. Once the teams and totals are chosen the bettor simply presents the filled in portion on the card to the ticket writer in the sportsbook along with how much they’d like to wager.
Parlay Cards are especially popular during football season. There are many different types of Parlay Cards including a variety of teasers, ties win and reverse teaser cards known as pleasers. These are more popular every year so the mobile sports wagering apps have started to add Parlay Cards for mobile bettors.