Sports betting is a large industry in gaming books and casinos around the world. One popular form of sports bet is the parlay, which allows you to combine various games and picks in one bet to increase the odds. If a particular casino allows you to place money line bets with a parlay, you can figure out the payouts for your bet by calculating the odds based on the line.
Determine what games you will be betting on. For example, take a four-team parlay with two favorites of -140 and -220, and two underdogs of +250 and +180.
Convert the odds of all favorite bets into a decimal number. Do this by taking 100 and dividing it by the line of the favorite. Add 1 to the result. Do this for each favorite line and write down each number.
For example: 100/140 = .71. Add 1 to equal 1.71. And: 100/220 = .45. Add 1 to equal 1.45.
Divide the line of each underdog by 100 and add 1 to the result of each. Write down each of these underdog decimal values.
For example: 250/100 = 2.5. Add 1 to equal 3.5. And: 180/100 = 1.8. Add 1 to equal 2.8.
Multiple all of the underdog and favorite lines together to get the total odds value of your parlay.
For example, with your above odds: 2.8 x 3.5 x 1.71 x 1.45 = 24.29.
So, your odds will equal 24.29:1. A $10 winning bet would pay off 24.29 x $10 = $242.90.
- Photo Credit betting image by Albert Lozano from Fotolia.com
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