What does a Parlay Mean? A parlay is a bet on two or more teams or selections. You can combine different sports, point spreads and money lines. In a parlay your original stake and winnings are re-invested on the next game and all selections must be correct - one loss and your parlay loses. In the event of a push (tie), game cancellation or a. A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games. The allure of these bets has always been a larger payout than choosing a single team to win.

Everyone makes moneyline bets without even knowing it. Even non-gamblers make moneyline bets. Betting the moneyline for a game is possibly the most simple way to wager on sports. Bettors just choose a player or team to win. If the bettor chooses the winning side, the sportsbook will pay the amount due. It’s really that simple.

There’s no point spread with a moneyline bet. Bettors are just picking the winning side. While placing a wager is simple, trying to understand how the moneyline pays might be a bit complicated. Both sides of each moneyline wager are paid on a different schedule and that could make this kind of bet confusing.

The favorite team or player on the moneyline is the team that’s expected to win. This side of the bet usually listed with a minus (-) sign. The underdog team or player on the moneyline is the team that’s expected to lose. This side of the moneyline is usually listed with a plus (+) sign. These signs signify how either side of the wager will pay. The minus side will pay less than original wager while the plus side will pay more than the original wager.

BETMGM SPECIAL - New Customers receive a Risk Free First Bet up to $600 + $50 Parlay Insurance for the Big Game! (Just opt-in and place a One Game Parlay wager with 4 legs or more on The Big Game and if you miss one leg, you’ll receive up to $50 back in Free bets. (Maximum 20 legs) - To Claim Click This Link

Example of a moneyline wager

Low scoring sports like baseball, soccer, and hockey are usually bet on using a moneyline. But they are also popular in football. The best way to explain how moneyline bets are paid is with an actual example. Let’s use the upcoming Super Bowl between the Kansas City Chiefs and Tampa Bay Buccaneers as an example.

The easiest way to understand moneyline wagers is by using a $100 bet. Using the above example, the moneyline on the underdog Buccaneers opened at +148 (currently ). At +148 odds, a $100 wager would pay $148 in profit if the Buccaneers won the game (for a total payout of $248). Bettors often like picking underdogs because they are usually “plus” money. This side of the moneyline bet pays out more money per unit than a wager on the favorite.

In this example, the moneyline on the favorite Chiefs opened at -176 (currently ). At -176 odds, a bettor would need to wager $176 to win $100. Since the favorite is considered the team with the better chance to win, a winning wager will usually pay out less than the original amount wagered.

Looking deeper into moneyline wagers

The two sides of each moneyline wager are essentially the opposite of each other. When wagering on the favorite it’s easiest to work from the dollar amount that will return a win of $100. When wagering on an underdog it’s easiest to understand how the moneyline pays based on how much a $100 wager will pay.

Parlay Betting Explained

Understanding how a moneyline wager pays isn’t simple but it’s not very complicated. That said, it might take running through a few examples before fully grasping the payouts. Moneylines for football and basketball games are often tied to the point spread. When a game has a large point spread it usually has a large moneyline. Both are separate bets but are shown together in a sports wagering app screen and in a brick and mortar sportsbook.

Parlay Betting Meaning Dictionary

As seen above, lines and odds may be different at various sportsbooks so consider this just an example of point spread line and a moneyline.

ALSO READ: 5 Fun Super Bowl prop bets to consider

Moneyline parlays

Parlay Betting Meaning Vs

Moneyline parlays are growing in popularity. A parlay is a single wager that is comprised of multiple results. The payout for a parlay is greater than an individual wager on each player or game. Underdog moneyline parlays are becoming popular because the payouts can be very large. Moneyline parlays are becoming popular because of the perceived ease of choosing multiple favorites to win. Choosing one winner is difficult and multiple winners at the same time is even more difficult.