Odds Parlay

Our parlay payouts are based on 'true odds', which depends on how many teams are chosen and the odds on those teams. If each pick of your parlay is a standard line (i.e., -110, where you must wager $110 to win $100), then the chart below will give you an approximate estimate of your payout. The attraction of a parlay bet is that parlay odds increase for every event – or leg – that you introduce into your bet.

Before we go any further, we need to explain what a parlay is fully.

In order to win the entire bet, you have to win each of the individual bets on your parlay. If you lose one individual bet, then you lose the entire parlay bet.

The reason is that the sportsbook will pay you out much more money for correctly picking multiple individual bets together.There is more risk in this type of bet so it should be expected that we are offered a higher reward for making this wager.

Let's compare betting three games individually versus betting them as a parlay.

Let's assume that each game is -110 moneyline odds.

Let's also assume that our bankroll for these three games is $300. We're going to look at the scenarios if we picked all three games correctly and if we only picked two of the games correctly.

If we bet the games individually, we would bet $100 per game.

Now, what would happen if we picked all three games as a parlay bet? This time, we would place a single bet of $300. We will go over how to calculate parlay payouts in the section below here, but for now, we have done the calculations for you.

The profit on this bet as a parlay would be $1787.40! Even if we only bet $100 total, we would see a profit of $595.80. As you can see, you can bet 1/3 of the amount you bet total in the individual games and still make more than double what you would betting the games individually.

At this point, a lot of people are wondering why you would ever bet anything but parlays. You can bet less and make so much more! Well, as you are probably guessing, there is more to the story.

Let's look at what happens in our same example, except this time we only pick two out of the three games correctly. We bet the same games again for $100 each individually, and we are correct on two out of the three games.

If we bet all three of the games as a parlay for $300 (or $100), our profit is negative $300 or negative $100. If you get even one game wrong in a parlay, you lose the entire bet. You've now seen the downside to parlays.

Even if you only get one game correct betting them individually, you're only going to lose $109. If you bet the same $300 on a parlay, though, you lose the entire $300. The risk is higher for parlays, but the associated reward is also higher.

A parlay is a type of wager where multiple outcomes are selected. Each of the outcomes must win in order for the parlay to win. Any point spread tie reduces to the next lowest number of teams in the parlay. The odds for the number of teams placed in a parlay are based on the pay table below when the selections (point spreads and totals for football and basketball, games and segments) have a default line of -110. Listed below is the BetMGM/Borgata Online pay table.

All Football and Basketball Parlays
(Point Spreads and Totals all - 110)

Parlay Odds Selections:

The legs in a Pay Table parlay all must meet the following requirements:

1. Football, basketball (excluding money lines) and their halves or quarters
2. Point spread or totals
3. Default odds that are set at -110.

Maximum payoff on off the board parlays is 10000/1. Acceptance of all parlays is at the discretion of management.

Example 1: The 2-team parlay (See picture below) is a standard parlay paying 2.6 to 1 or 3.6 for 1. Using the Pay Table, $10.00 x 3.6 = $36.00 payout. Pay Table parlays are not calculated using 'true odds' (-110 is not .9091 in this case). The Pay Table Multiplier section below explains the way that Pay Table odds are calculated.

Pay Table Multiplier

This is the factor that, when used for each leg of a parlay, gives the Pay Table payout. For a 2-team parlay at default odds, the factor is a square root. For a 3-team parlay, it is a cube root, for a 4-team parlay, it is the 4th root of the payout.

The return on a 2-team Pay Table parlay at 2.6 to 1 is 3.6 for one, as the payout. The square root of 3.6 is 1.8974. This is the Pay Table Multiplier for 2-team parlays.

$10 X 1.89736 X 1.89736 = 36.00.

Below is the pay table multiplier which is used as the method to calculate pay table parlays when the default odds are -110.The respective Pay Table Multiplier (shown below) by the True Odds Multiplier of the number (other than -110) minus the True Odds Differential (shown below).

Non-Pay Table Parlays

We use the term Non-Pay Table parlay when at least one leg does not meet requirements 1 and/or 2 of the Pay Table parlay default odds section above.

Sports like Boxing, Baseball, and Hockey use Non-Pay Table Odds. Football money line bets also use them. The True Odds Multiplier section below explains the way that Non Pay Table odds are calculated.

Example 2: The 2-team parlay below uses the True Odds Multiplier because neither leg meets the Pay Table requirements, so $10 x 1.9091 x 1.9091 (rounded) = $36.45 payout.

Let's compare betting three games individually versus betting them as a parlay.

Let's assume that each game is -110 moneyline odds.

Let's also assume that our bankroll for these three games is $300. We're going to look at the scenarios if we picked all three games correctly and if we only picked two of the games correctly.

If we bet the games individually, we would bet $100 per game.

Now, what would happen if we picked all three games as a parlay bet? This time, we would place a single bet of $300. We will go over how to calculate parlay payouts in the section below here, but for now, we have done the calculations for you.

The profit on this bet as a parlay would be $1787.40! Even if we only bet $100 total, we would see a profit of $595.80. As you can see, you can bet 1/3 of the amount you bet total in the individual games and still make more than double what you would betting the games individually.

At this point, a lot of people are wondering why you would ever bet anything but parlays. You can bet less and make so much more! Well, as you are probably guessing, there is more to the story.

Let's look at what happens in our same example, except this time we only pick two out of the three games correctly. We bet the same games again for $100 each individually, and we are correct on two out of the three games.

If we bet all three of the games as a parlay for $300 (or $100), our profit is negative $300 or negative $100. If you get even one game wrong in a parlay, you lose the entire bet. You've now seen the downside to parlays.

Even if you only get one game correct betting them individually, you're only going to lose $109. If you bet the same $300 on a parlay, though, you lose the entire $300. The risk is higher for parlays, but the associated reward is also higher.

A parlay is a type of wager where multiple outcomes are selected. Each of the outcomes must win in order for the parlay to win. Any point spread tie reduces to the next lowest number of teams in the parlay. The odds for the number of teams placed in a parlay are based on the pay table below when the selections (point spreads and totals for football and basketball, games and segments) have a default line of -110. Listed below is the BetMGM/Borgata Online pay table.

All Football and Basketball Parlays
(Point Spreads and Totals all - 110)

Parlay Odds Selections:

The legs in a Pay Table parlay all must meet the following requirements:

1. Football, basketball (excluding money lines) and their halves or quarters
2. Point spread or totals
3. Default odds that are set at -110.

Maximum payoff on off the board parlays is 10000/1. Acceptance of all parlays is at the discretion of management.

Example 1: The 2-team parlay (See picture below) is a standard parlay paying 2.6 to 1 or 3.6 for 1. Using the Pay Table, $10.00 x 3.6 = $36.00 payout. Pay Table parlays are not calculated using 'true odds' (-110 is not .9091 in this case). The Pay Table Multiplier section below explains the way that Pay Table odds are calculated.

Pay Table Multiplier

This is the factor that, when used for each leg of a parlay, gives the Pay Table payout. For a 2-team parlay at default odds, the factor is a square root. For a 3-team parlay, it is a cube root, for a 4-team parlay, it is the 4th root of the payout.

The return on a 2-team Pay Table parlay at 2.6 to 1 is 3.6 for one, as the payout. The square root of 3.6 is 1.8974. This is the Pay Table Multiplier for 2-team parlays.

$10 X 1.89736 X 1.89736 = 36.00.

Below is the pay table multiplier which is used as the method to calculate pay table parlays when the default odds are -110.The respective Pay Table Multiplier (shown below) by the True Odds Multiplier of the number (other than -110) minus the True Odds Differential (shown below).

Non-Pay Table Parlays

We use the term Non-Pay Table parlay when at least one leg does not meet requirements 1 and/or 2 of the Pay Table parlay default odds section above.

Sports like Boxing, Baseball, and Hockey use Non-Pay Table Odds. Football money line bets also use them. The True Odds Multiplier section below explains the way that Non Pay Table odds are calculated.

Example 2: The 2-team parlay below uses the True Odds Multiplier because neither leg meets the Pay Table requirements, so $10 x 1.9091 x 1.9091 (rounded) = $36.45 payout.

Example 3: The 2-team parlay below uses the Pay Table Multiplier for 105 because it meets all other requirements for Pay Table Odds (see Pay Table Parlays above). Note: The root for the Pay Table Multiplier is based on only the number of legs that meet the requirement. It usesthe True Odds Multiplier for 107 (-1/-120 = .8333) because that leg does not meet requirement 2. Although it is a Football game, it is a money line wager.

$10 x 1.9091 x 1.8333 = $35 payout.

Parlay Odds 5 Team

Pay Table Non-Default Odds

We use the term Pay Table Non-Default Odds when all legs meet requirements 1 and 2 of a Pay Table parlay: 1) Football, basketball, and their halves or quarters 2) Point spread or totals, but at least one leg does not meet requirement 3 because it hasodds that are not equal to the default odds.

Parlay Odds Formula

Pay Table Non-Default parlays are not calculated using 'true odds' (-120 is not .8333). The True Odds Differential section below explains the way that Pay Table Non-Default odds are calculated.

Example 4: The 2-team parlay below uses the Pay Table Multiplierfor default odds for 302 (which meets all the requirements of a Pay Table parlay like Example 1 above). However, the other leg (304 Saints) has non-default odds -120, so a factor called the True Odds Differential is used to adjust the True Odds Multiplier of the -120 to derive the new Pay Table Multiplier for non-default odds -120.

$10 x 1.8974 x 1.8216 = $34.56 (rounded to nearest nickel $34.55)

True Odds Differential

Money Line Parlay Odds Calculator

The only time that the True Odds Differential is used is when a leg contains a Pay Table sport that has non-default odds for point spread or totals (Example 4 above has -3-120 instead of -3 -110).

Calculating the True Odds Differential for a Non-Default Odds leg when default odds = -110

(True Odds Multiplier of -110) - (Pay Table Multiplier of -110) = True Odds Differential

1.9091 - 1.8974 = .0117

Calculation to find the Pay Table Multiplier for Non-Default odds -120 in Example 4

True Odds Multiplier of -120 = 1.8333 – True Odds Differential = . 0117

Pay Table Multiplier of -120 = 1.8216

The only exception for not using the true odds differential is when the pay table multiplier exceeds that of true odds (-110 or .9091).

Calculations to find the True Odds Multiplier

When the Leg is a Favorite

When laying odds (money line is less than 0): (-1) x (100)/ (money line) +1.

Parlay Odds Explained

Example: True Odds Multiplier for Money line: -110: (-1) x ((100)/ (-110)) +1 = 1.9091

When the Leg is an Underdog

Odds 4 Team Parlay

When taking odds (money line is greater than 0): (money line)/ (100) +1 Example:

Wizard Of Odds Parlay

True Odds Multiplier for Money line: +130 = ((+130) /(100)) +1 = 2.3