One baseball fan in Las Vegas is celebrating this week. According to the Las Vegas Review-Journal, a lucky Las Vegas Parlay on the MLB was cashed out for $38 thousand this week. It’s the kind of win that all fans of parlay betting hope to get someday.
Today, we’re going to take a quick look at how this bettor managed to win so much money. We’ll also look back at some of the biggest sports parlay wins in history. First, let’s look at what exactly a parlay bet actually is.
What is a Parlay Bet?
If you’re a fan of sports betting, there’s a very good chance that you’ve heard of a parlay bet. Essentially, these are single-sport wagers that involve two or more teams winning. The more teams that you bet on at once, the larger and more lucrative your odds will become. As we’ve seen this week, these bets can earn you some serious money.
Parlay betting is also more difficult than traditional one-team betting. If you wager on three teams to win one week and just one of them loses, your entire bet is void. It’s one of the most exciting ways to make sports bets today.
Let’s look at a parlay example from Bovada, one of the most popular sports betting sites in the US. Here, we’ll look at a parlay that involves three teams from the MLB that are playing on August 29th.
- 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. To give an example, say you’re interested this week in betting Jets -4, Patriots +3, Dolphins +2.5 and Colts -7.
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- January 5, 2021 The Vegas Parlay.Clemson -4.5 vs NC State: Clemson has covered all but one of their 7 home games whil NC State’s lone road game was a double digit ATS loss to St.Louis. Clemson’s Aamir Sims is playing well averaging over 13 points and nearly 6 rebounds per game.
- Oakland Athletics win vs. Kansas City Royals: -190
- Chicago White Sox win vs. Minnesota Twins: +150
- Texas Rangers win vs. Seattle Mariners: -175
For example, the true odds of winning a three-team parlay when making point spread wagers are 7-1, while the payoff is only 6-1, and it gets worse as you bet more teams. The true odds of hitting a 10-team point parlay are 1,023-1, while the payoff is generally around 600-1, so a parlay bettor is at a big disadvantage.
With this parlay, you could wager just $10 and if each team wins, walk away with almost $50.
It’s that easy! Parlays can be made at almost all US online sportsbooks and inside most sportsbooks in casinos.
Las Vegas Parlay on the MLB Earns Bettor $38K
Parlay Payouts In Vegas
One MLB bettor in Las Vegas managed to turn a $250 wager into $38 thousand this week. The unnamed sports bettor made his wager at the Cosmopolitan in Las Vegas, one of the most popular hotel-casinos in Las Vegas.
The MLB fan bet on eight different teams to win this week. He bet on the Cardinals, Reds, Phillies, Diamondbacks, and Athletics to win. He also took the under on the Braves-Rockies game, and the over on the Pirates-Phillies game. All of these bets proved to be successful, making it one of the luckiest Las Vegas parlay bets in recent memory.
$38K is a solid amount of money to leave Las Vegas with. Now is the perfect time to look back at some more of the biggest sports parlays to ever take place.
Biggest Sports Parlay Wins in History
Sports betting has never been more popular in the US than it is today. With PASPA now gone, every state in the US has the ability to set its laws on this industry. Many states now have legalized and regulated sports betting markets.
Most of the biggest bets in history have taken place in Las Vegas. For years, Nevada was the only state legally allowed to offer sports odds. Here are some of the biggest parlay bets ever won.
Vegas Parlay Odds
20,000 – 1 NFL Parlay Bet
Just a few years ago, Tayla Polia wagered $5 on an incredible 15-team parlay. Against all the odds, 20,000-1, to be exact, each team managed to win. She walked away from the sportsbook with an astounding $100,005.
2,500 – 1 NCAA and NFL Parlay
In late 2017, an unnamed bettor placed a $25 12-team parlay bet in Reno, Nevada. Each of the teams managed to win, earning the sports gambler $62,475. It was the biggest parlay win in Reno that’s been reported on.
232 – 1 MLB Parlay Bet
The recent lucky Las Vegas parlay bet in Las Vegas isn’t the only time that a bettor has cashed out wagering on the MLB. Just a few years ago, a baseball fan bet the under on four MLB games with a $500 parlay. Incredibly, the bets were successful, earning the gambler $115,971.
You don’t have to be in Las Vegas to make parlay bets right now. There are several great online sportsbooks available throughout the country right now. Almost all of them let you make parlay bets on major sports including the NFL, MLB, and NBA.
Vegas Football Parlay Cards
Will you be the next person to make a lucky Las Vegas parlay bet? If so, good luck!