Also, the probability of both outcomes won’t always add up to 100% due to the ‘vig’, which is the sports betting term for the house edge.

For example, if a disproportionate number of bettors were to put money on the Bengals, then the odds are likely to change in favor of the Rams. What’s more, moneyline odds are likely to fluctuate based on the activity of your fellow bettors. This is why it will always be referred to as ‘ implied probability’ in sports betting. This, of course, is not an exact science, so can’t necessarily be equated with probability.

It involves plenty of experience, sporting expertise, and a lot of research to arrive at an accurate representation of how likely, say, the Rams are to beat the Bengals at the Super Bowl. Now, how sportsbooks arrive at these odds is naturally a little more complicated, and is contingent on a number of different factors. Use our parlay calculator to figure out how much you stand to win.Īs previously discussed, odds are based on probability. For example, if you were to place a $10 over/under bet on six games at odds of +109 each - standard odds on an over/under bet - your returns would total $833.45 if every leg came in. A popular time to place a parlay bet is when watching the NFL RedZone on a Sunday afternoon, as it adds even more excitement to the proceedings and can result in some considerable payouts. Naturally, a parlay bet tends to have much longer odds than singles, doubles and trebles as every leg will have to come in for the bet to be successful. What is a Parlay Bet?Ī parlay bet is when you combine at least four selections in one bet. What is a Treble Bet?Įxactly the same as above but with three legs rather than two. Should they, then a $10 bet will payout $35.83 including your $10 stake for a $25.83 total profit. For example if you bet on the Dallas Cowboys to win the aforementioned game at -140 but also bet on the over/under 47.5pts market at +109 then you need both legs of the bet to hit to get a payout.

This is where you bet on two markets in one bet. For example if you think the Dallas Cowboys will beat the New York Giants as a -140 favorite, a $10 bet will net you a $17.14 return, which includes your original $10 bet. What is a Single Bet?Ī single bet is where you place a bet on one single market or one simple outcome. Unsure of what distinguishes a double bet from a parlay bet? Below is some details on all the different types of bet featured in our odds calculator.

Parlay calculator play sports betting