A parlay, as you know, is simply a payout based on the probability of two or more things happening. For baseball, what the bookie does is apply a factor to each game and then he can mix and match whatever games his players want and easily calculate the payouts.
The parlay factor is calculated differently for favorites and underdogs.
For the favorites, the parlay factor is calculated as: (money line + 100) money line.
The Underdogs are a bit easier
The parlay factor is: (money line + 100) / 100. That is, if you also like Cincinnati with Q starting at +115, then Cincinnati parlay factor would be (115+100)/100 = 2.15.
If, however, one of the individual plays is a "push," then the parlay is still on for the remaining plays.
A three play parlay would become a two play parlay; a two play parlay would become a straight bet, with corresponding reductions of the payoff.
Why bet on a sports parlay and not make several individual bets? The payouts for parlays are significantly higher than for individual bets. But remember, since every one of the individual plays must win, it's an all-or-nothing bet. If you win two out of three plays, the parlay still loses, whereas you would have won those two plays as individual straight bets. You are given better odds because predicting the outcomes of several plays together is significantly more difficult than predicting any individual play.
To make it even simpler, use our Sports Betting Parlay Calculator.
Enter the amount of your bet and the money line for each team. If betting a favorite, you must enter the line with a minus (-) sign at the beginning. When ready, press the "Calculate" button to see your winnings.
How to use the Parlay Calculator
- Enter the price, you do not have to enter the plus sign. (Enter favorite prices with the minus sign Example (-110))
- Do not enter a factor.
- Enter the amount of your bet.
- Hit the Calculate parlay button.
*Please insert valid numeric values