The sports gambling industry has a broad selection of betting markets. You can place single bets, parlays, combos, or future wagers.

Parlay bets are popular in Europe and the United States. But, some bettors often ask what does a parlay pay? Read on to learn more about parlays.

How Does Parlay Bet Pay Out?

Once a bookie operator accepts a parlay, they create a multi-level bet such that each wager which wins is a bigger bet on the other leg. For example, if the operator provides two -110 legs, your first bet can be $200 on the Tampa Bay Buccaneers +3 or under 54.5.

In such a scenario, both wagers will end simultaneously. The Buccaneers +3 will cover the spread, and the $200 bet will be $381.82, which will be your second leg's stake, under 54.5. A -110 wager will pay you $347.1.

You will get $728.92 when you add them up. So, the parlay bet will earn you a $528.92 profit.

There is a simple formula for -110 bets for beginners. Typically, a two-teamer has a 2.6-to-1 payout while a three-teamer pays 6-to-1, and the odds double for each -110 wager you add to your parlay.

Three Common Types of Parlays

You will find the following parlays in most sportsbooks:

4-Leg Parlay

You can be more aggressive on a particular day and decide to try placing a 4-Leg parlay. It might have several spread selections and underdogs.

A bookie can offer the following parlay choices:

• New York Giants (+115)

• Arizona Cardinals (+140)

• Houston Texans +3(-105)

• Carolina Panthers -5(-105)

Once the first three games end, your $200 stake will be $1,829.66. Your final payout will be $3,933.60 once the New York Giants win. A minor change in prices causes a significant change in the parlay's payout.

3-Leg Parlay

Many gamblers are more confident in their favorite teams winning, yet they dread laying long odds. Here is an example of Week 1 National Football League (NFL) favorites in a parlay fodder:

• Detroit Lions (-380) vs San Francisco

• Cleveland Browns (-320) vs Kansas City Chiefs

• Las Vegas Raiders (-250) vs Baltimore Ravens

A bettor can stake $200 on the three football teams, starting with the Detroit Lions. If they win, they will have $252.64 to roll over in their next wager -$52.64 in profit.

They will stake $252.64 on the Cleveland Browns, and if the team wins, the bettor will earn an extra $78.96. So they will have a total of $331.60 after adding their profit to their stake.

They can decide to stake $331.60 on Las Vegas Raiders. The bettor's profit will be $132.24, and they will get a $464.24 total payout. Hence, the three-team parlay will pay out +264, as the bettor will have won $264.24.

Round Robin

You can place several parlays to form a round-robin wager. Sports betting round-robin resembles boxing thoroughbreds to make a trifecta wager in horse racing. The number of different parlays you have depends on your team combinations.

Parlay Cards

They are common in many modern casinos. Parlay cards are long and narrow.

They need you to fill in your side's point spread or numbered circle in the bet. Once you select the totals and teams, you will present the filled-in section of your card to a ticket writer in a bookmaker and state your stake.

The demand for parlay cards increases in football seasons. They have a wide variety, including pleasers, ties win, and teasers. Some mobile sports gambling applications offer parlay cards, as some gamblers use them for the better part of the year.

Many bookmakers offer parlays. Bettors combine several bets on various sporting events into one wager. The bookie rolls over winnings from a previous bet into the next one. You need to be patient to be a successful parlay bettor.

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