Parlay, accumulator , or combo bets is a single bet that links two or more individual bets and depends on all winning bets together. The benefit of the parlay is that there is a much higher result than placing each bet separately because of the difficulty hitting it much higher. If one of the bets in the parlay loses, the entire parlay loses. If there is a game in the parlay bond, or "pushing", the parlay returns to a lower number of teams with a precisely reduced opportunity.
Video Parlay (gambling)
Opportunities and payouts
Parlay bets are paid at higher odds than regular single game betting, but still under "true" odds. For example, a common 2 team NFL parlay usually has a 2.6: 1 payment if both options are correct. However, in reality, if one assumes that every single game bet is a flip of a coin and will be expected to pay at 1: 1, the actual payment should be 3: 1, the substantial difference.
Maps Parlay (gambling)
Example
Typical payout of up to 11 team parlay bets
Here is an example of a traditional Las Vegas Parlay Card at William Hill Sports Book, which shows typical payouts for a team parlay bet up to 11 (winning amount is $ 100 is bet):
Profitability parlays in sports betting
Many gamblers have mixed feelings, whether parlays or not is a wise game. The best way to analyze whether they are profitable in the long run is to calculate the expected value. The formula for the expected value is: E [X] = x1p1 x2p2 x3p3... xkpk. Since the probability of all events that may be added to 1 this can also be seen as the weighted average of the event. The table below shows the odds.
Column 1 = number of individual bets in parlay
Column 2 = a true winning chance with 50% chance of winning every individual bet
Column 3 = parlay payment opportunity in sportsbook
Column 4 = the correct opportunity to win the parlay with 55% chance of winning each individual bet
This table illustrates that with even 55% chance of winning each parlays bet is profitable in the long term. Compare the value you receive on individual bets with a 55% chance of winning. (.55) - (.45) =.1 (ten cents won for every average dollar bet) to the expected result on the 11-match parlay ((1233/716.8) -1) =. 72 (72 cents won for every average dollar bet). In this case the parlay has a much higher expected return than the individual bet but unfortunately greatly increases the yield difference.
See also
- Full cover banner
- Trixie (bets)
- Every-How (bets)
- Progressive view
References
External links
- Kelly calculator to determine the correct bet size
Source of the article : Wikipedia
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