Parlay (gambling) — Wikipedia

A parlay, accumulator, combo wager or multi is a single bet that links together two or more individual wagers and is dependent on all those wagers winning collectively. The advantage of the parlay is that there are far higher payoffs than placing each individual wager individually, since the problem of hitting them is higher. If some of the stakes in the parlay lose, the entire parlay loses. If any of those plays in the parlay ties, or»pushes», the parlay reverts to a lesser amount of teams together with the odds reducing accordingly.
Parlay bets are paid out at odds higher than the typical single game wager, but still under the»true» chances. As an example, a common 2-team NFL parlay based completely on the distribute normally has a payout of 2.6:1 if the two selections are correct. [citation needed] In reality, however, if one assumes that each single game bet is a coin flip and would be expected to pay out in 1:1, the genuine payout must instead be 3:1, a substantial gap.
The house makes a 20-31% profit on spread parlays, compared to a 7 percent gain on individualized sports stakes. [2]
An alternate means to do a parlay is to bet on at least two favorites simply winning straight up. To be able to calculate the payout of the parlay, an individual has to multiply out the payout for all 3 matches. As an instance, if 3 teams are all +385 favorites, then a prosperous parlay on all 3 teams winning could pay out at a ratio of approximately 1/1. That is because (385/485)^3 is approximately 50%

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