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Parlay Betting (also known as Mutliples or Combos)

Parlays, also known as Multiples or Combos, are a very exciting way to win a nice amount of money with little risk.

A parlay is a bet of 2 or more teams or Propositions in no particular order. All teams wagered on in a parlay must win. If there is a tie, it reverts down to the next lowest number for payoff. For 2 team parlays, tie and win becomes a straight bet payout.

Round Robin Parlays

A Round Robin is simply a nickname for parlay wagering on a group of selections (at least three or more) that are to be included in a combination of individual parlays.

For instance, if a player asked for a $100, three-team Round Robin with teams A, B, and C, he/she is simply requesting a two-team parlay with teams A and B, another parlay with teams A and C, and another with teams B and C, for a total of 3 individual parlays, each for $100. The total amount risked would be $300.

Round Robins get more complex as the number of teams increases. A four-team Round Robin "by twos" for $100 would mean that the bettor wants four teams to be included in a combination of two-team parlays. This would be a total of six individual two-team parlays, for a total risk of $600. If the request is for a Round Robin "by threes", it would include a total of four possible combinations, for a risk of $400.

Example

A player requests a $100 four team Round Robin by  twos", with teams A, B, C   and D. The possible combinations would be as follows:


Teams AB $100 to win $260
Teams AC $100 to win $260
Teams AD $100 to win $260
Teams BC $100 to win $260
Teams BD $100 to win $260
Teams CD $100 to win $260


If all four teams win, the player wins $1240, while risking only $600! If one  game loses, there is still a profit, even though three of the parlays would  lose. The three winners get back $780, plus the $100 laid for each parlay, for a total of $1080. After subtracting $300 for the 3 losers, the player profits $480!

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