It’s no secret that the Super Bowl is the most heavily bet sporting event of the year. The last year saw a spike in the number of legalized states and online sports betting platforms. These developments ensure that there will be many new bettors taking their first stab at hitting a big score while watching the big game.
A parlay is a single bet that links together two or more individual wagers for a high payout. A 2 team parlay might pay 13/5, a three team parlay might pay 6/1, a four team parlay might pay 10/1, and so forth with the payouts getting higher with more teams or totals selected. For a single bet, 2 to 8 teams or totals can be selected. The 11-team parlay hits 1 out of every 2,047 times, and the payout is based on only just over 50% of that ratio. Most of the general betting public doesn’t realize that 55% is an excellent winning percentage when it comes to sports betting.
Black diamond casino game. According to Bill Miller, President and CEO of the American Gaming Association (AGA), Sunday’s contest between the Chiefs and Bucs is expected to be “the largest single-event legal handle in American sports betting history.”
Parlays and prop bets are great ways to increase your Super Bowl Sunday wagering enjoyment. If you want to go for a big score this Sunday, you can combine the two and maybe get a big hit on the cheap.
Let’s take a look at these two bet types, and then dive into how to build a ticket along with potential payouts available at FanDuel Sportsbook PA.
What is a parlay, and how can I build one with a prop bet?
A parlay is a bet ticket that includes multiple wagers. All the individual wagers on a parlay must hit or the ticket is a loser. Parlays are long-shot bets that offer the chance of scoring a substantial payday with a relatively small investment.
A prop bet is a bet made on an event/occurrence during a game that does not directly affect the game’s final outcome (i.e. first player to score a TD). If a bettor is willing to accept increased risk, some prop bets can reward handsomely.
Below is a quick reference guide of potential three-way parlay tickets that include two game outcome bets (team spread or moneyline bet and over/under points total) combined with one prop bet.
The payouts listed are based on a theoretical $100 wager with odds from the FanDuel app at the time of writing. Odds may fluctuate prior to kickoff. You will notice that as the odds go up, so does the potential payout. That is because the chances of the ticket coming in are lower (higher risk). Online betting real money.
Note: These examples are meant to show potential payouts on a $100 bet and are not intended to be recommended wagers.
Whatever combo or wager you choose, remember to keep betting fun and enjoy the game!
Chiefs Point Spread (-3/-120) and the Over (55.5/-115) with:
- Patrick Mahomes over 329.5 passing yds (-110): $554.35
- Patrick Mahomes MVP (-105): $569.19
- Travis Kelce 110+ yds (+124): $667.77
- Patrick Mahomes 350+ passing yds (+148): $750.03
- Tyreek Hill 110+ yds (+162): $798.01
- Patrick Mahomes 400+ passing yds (+410): $1,648.04
- Travis Kelce MVP (+1400): $5,041.30
- Tyreek Hill MVP (+1400): $5,041.30
- Clyde Edwards-Helaire MVP (+3700): $12,924.64
Chiefs Point Spread (-3/-120) and the Under (55.5/-105) with:
- Mike Evans under 11.5 fantasy points (-112): $577.52
- Tom Brady under 296.5 passing yds (-110): $583.33
- Chris Godwin under 73.5 yds (-110): $583.33
- Mike Evans under 61.5 yds (-110): $583.33
- Tyrann Mathieu interception (+420): $1,761.27
- Daniel Sorensen interception (+450): $1,868.65
- Frank Clark first sack (+500): $2,047.62
- Bashaud Breeland interception (+500): $2,047.62
- Chris Jones first sack (+750): $2,942.46
- Tyrann Mathieu MVP (+5000): $18,154.76
- Chris Jones MVP (+8000): $28,892.86
Bucs Point Spread (+3/+100) and the Over (55.5/-115) with:
- Tom Brady over 296.5 passing yds (-110): $613.83
- Tom Brady 325+ passing yds (+168): $902.09
- Leonard Fournette 60+ yds (+174): $924.52
- Tom Brady MVP (+200): $1,021.74
- Chris Godwin 100+ yds (+235): $1,152.61
- Tom Brady 350+ passing yds (+280): $1,320.87
- Mike Evans 100+ yds (+410): $1,806.96
- Leonard Fournette MVP (+3000): $11,491.30
- Chris Godwin MVP (+3400): $12,986.96
- Mike Evans MVP (+3400): $12,986.96
Bucs Point Spread (+3/+100) and the Under (55.5/-105) with:
- Patrick Mahomes under 329.5 passing yds (-110): $645.45
- Travis Kelce under 98.5 yds (-110): $645.45
- Tyreek Hill under 94.5 yds (-110): $645.45
- Shaquil Barrett first sack (+550): $2,438.10
- Jason Pierre-Paul first sack (+650): $2,828.57
- Carlton Davis interception (+650): $2,828.57
- Devin White interception (+1000): $4,195.24
- Ndamukong Suh first sack (+1200): $4,976.19
- Devin White MVP (+5000): $19,814.29
- Shaquil Barrett MVP (+5000): $19,814.29
- Jason Pierre-Paul MVP (+8000): $31,528.57
Chiefs Moneyline (-166) and the over (55.5/-115) with:
- Patrick Mahomes over 329.5 passing yds (-110): $471.93
- Patrick Mahomes MVP (-105): $484.90
- Travis Kelce 110+ yds (+124): $571.06
- Patrick Mahomes 350+ passing yds (+148): $642.96
- Tyreek Hill 110+ yds (+162): $684.90
- Patrick Mahomes 400+ passing yds (+410): $1,427.86
- Travis Kelce MVP (+1400): $4,393.71
- Tyreek Hill MVP (+1400): $4,393.71
- Clyde Edwards-Helaire MVP (+3700): $11,284.08
Chiefs Moneyline (-166) and the under (55.5/-105) with:
- Mike Evans under 11.5 fantasy points (-112): $492.18
- Tom Brady under 296.5 passing yds (-110): $497.26
- Chris Godwin under 73.5 yds (-110): $497.26
- Mike Evans under 61.5 yds (-110): $497.26
- Tyrann Mathieu interception (+420): $1,526.83
- Daniel Sorensen interception (+450): $1,620.68
- Bashaud Breeland interception (+500): $1,777.11
- Frank Clark first sack (+500): $1,777.11
- Chris Jones first sack (+750): $2,559.24
- Tyrann Mathieu MVP (+5000): $15,855.42
- Chris Jones MVP (+8000): $25,240.96
Bucs Moneyline (+144) and the Over (55.5/-115) with:
- Tom Brady over 296.5 passing yds (-110): $770.88
- Tom Brady 325+ passing yds (+168): $1,122.55
- Leonard Fournette 60+ yds (+174): $1,149.92
- Tom Brady MVP (+200): $1,268.52
- Chris Godwin 100+ yds (+235): $1,428.18
- Tom Brady 350+ passing yds (+280): $1,633.46
- Mike Evans 100+ yds (+410): $2,226.49
- Leonard Fournette MVP (+3000): $14,041.39
- Chris Godwin MVP (+3400): $15,866.09
- Mike Evans MVP (+3400): $15,866.09
Bucs Moneyline (+144) and the Under (55.5/-105) with:
- Patrick Mahomes under 329.5 passing yds (-110): $809.45
- Travis Kelce under 98.5 yds (-110): $809.45
- Tyreek Hill under 94.5 yds (-110): $809.45
- Shaquil Barrett first sack (+550): $2,996.48
- Jason Pierre-Paul first sack (+650): $3,472.86
- Carlton Davis interception (+650): $3,472.86
- Devin White interception (+1000): $5,140.19
- Ndamukong Suh first sack (+1200): $6,092.95
- Devin White MVP (+5000): $24,195.43
- Shaquil Barrett MVP (+5000): $24,195.43
- Jason Pierre-Paul MVP (+8000): $34,486.86
Lead image credit: AP Photo/Charlie Riedel
A parlay, accumulator (or acca), combo bet or multi is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately, since the difficulty of hitting all of them is much higher. If any of the bets in the parlay lose, the entire parlay loses. If any of the plays in the parlay ties, or 'pushes', the parlay reverts to a lower number of teams with the odds reducing accordingly.
Odds and payout[edit]
Parlay bets are paid out at odds higher than the typical single game bet, but still below the 'true' odds. For instance, a common 2-team NFL parlay based entirely on the spread generally has a payout of 2.6:1.[citation needed] In reality however, if one assumes that each single game bet is 50/50, the true payout should instead be 3:1 (10% expected value for the house). A house may average 20-30% profit on spread parlays compared to perhaps 4.5% profit on individual sports mix parlay bets.
Aside from 'spread' parlays, another way to parlay is to bet on two or more teams simply winning straight up. In order to calculate the payout of this parlay, one must multiply out the payout for all games. For example, if 3 teams are -385 favorites, a successful parlay on all 3 teams winning would pay out at a ratio of approximately 1/1. This is because (385/485)^3 is approximately 50%.
Examples[edit]
Typical payouts for up to 10 team parlay bet[edit]
The following is an example of a traditional Las Vegas Parlay Card at William Hill Sports Book, which shows the typical payouts for an up to 10 team parlay bet based on -1.10 prices (amount won is assuming $100 is bet)[citation needed]:
| Number | Odds | Amount won | Payout |
|---|---|---|---|
| 2 Team Parlay | 2.6 to 1 | $260 | $360 |
| 3 Team Parlay | 6 to 1 | $600 | $700 |
| 4 Team Parlay | 11 to 1 | $1,100 | $1,200 |
| 5 Team Parlay | 22 to 1 | $2,200 | $2,300 |
| 6 Team Parlay | 45 to 1 | $4,500 | $4,600 |
| 7 Team Parlay | 90 to 1 | $9,000 | $9,100 |
| 8 Team Parlay | 180 to 1 | $18,000 | $18,100 |
| 9 Team Parlay | 360 to 1 | $36,000 | $36,100 |
| 10 Team Parlay | 720 to 1 | $72,000 | $72,100 |
Profitability of parlays in sports betting[edit]
Many gamblers have mixed feelings as to whether or not parlays are a wise play. The best way to analyze if they are profitable in the long term is by calculating the expected value. The formula for expected value is: E[X] = x1p1 + x2p2 + x3p3…xkpk . Since the probability of all possible events will add up to 1 this can also be looked at as the weighted average of the event. The table below represents odds.[citation needed]
Parlay Payouts Chart
Column 1 = number of individual bets in the parlay
Column 2 = correct odds of winning with 50% chance of winning each individual bet
Column 3 = odds payout of parlay at the sportsbook
Column 4 = correct odds of winning parlay with 55% chance of winning each individual bet
| Number of individual bets | Correct odds at 50% | Odds payout at sportsbook | Correct odds of winning parlay at 55% |
|---|---|---|---|
| 2 | 3 to 1 | 2.6 to 1 | 2.3 to 1 |
| 3 | 7 to 1 | 6 to 1 | 5.0 to 1 |
| 4 | 15 to 1 | 12 to 1 | 9.9 to 1 |
| 5 | 31 to 1 | 24 to 1 | 18.9 to 1 |
| 6 | 63 to 1 | 48 to 1 | 35.1 to 1 |
| 7 | 127 to 1 | 92 to 1 | 64.7 to 1 |
| 8 | 255 to 1 | 176 to 1 | 118.4 to 1 |
| 9 | 511 to 1 | 337 to 1 | 216.1 to 1 |
| 10 | 1,023 to 1 | 645 to 1 | 393.8 to 1 |
| 11 | 2,047 to 1 | 1,233 to 1 | 716.8 to 1 |
4 Team Parlay Calculator
The table illustrates that if a 55% chance of winning each individual bet were achievable, parlays would be profitable in the long term. Compare the expected value you receive on an individual bet at a typical price of -110 with a 55% chance of winning: ((100/110+1)*.55)-1 = .05 (exactly 5 cents won for every dollar bet on average), multiplied by 11 = .55, to the expected return on the 11 game parlay ((1234/717.8)-1) = .719 (72 cents won for every dollar bet on average). In this case a parlay has a much higher expected value than individual bets with greatly increased variance in outcomes.