![]() The odds for a parlay also shift if bettors include other types of bets with varying "juice" outside the -110 to -115 range, such as moneyline wagers. If you put $100 on a two-team parlay and win, your profit will be $260 for a total return of $360. Even so, the potential for winning more than the initial investment has proven irresistible to most sports bettors. The true odds on a three-leg against the spread parlay are 9-to-1, though the standard payout is 6-to-1. For instance, the true odds on a standard two-team against the spread parlay are 4-to-1, but most betting outlets pay 2.6-to-1 on the wager. Sportsbooks welcome parlays because of their significant house edge. For instance, if you pick five teams on a parlay to cover the spread and those picks go 4-1, the bet is a loser. Sports betting parlays involve the selection of two or more propositions on a single wager, with each separate portion of a parlay called a "leg." All legs of a parlay must win for the bet to become a winner. ![]() It's a widespread belief that parlays are mostly done by novice sports bettors, but experienced handicappers are known to play them as well. ![]() Parlays are popular wagers among bettors because of the appeal of potentially winning a hefty sum with a minimal investment.
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