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 The origin of the Parlay

The word parlay has it’s beginings as an  Americanism for the Italian word paroli which meant “words, promises“. On 1895 we start seeing the first form of the word parlay used as the horse racing term paralee or parlee which stands for “placing a series of increasing bets” and by 1942 it had changed to parloi which stood for “exploit to advantage”. So as you can see, our friend the parlay has been with us for over 100 years for gamblers to take advantage of. 

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How Parlays work

There is one main thing you want to take into consideration when playing parlays and that is: you will be risking less for a bigger profit. This is the main goal behind playing parlays and the main reason they are so popular. The more teams you stack up the higher the chance of having a big payout. In order to have your big payout all the teams chosen have to win since in the case of one of the picks losing, the whole bet will therefore lose. Most common odds for parlays are the following:
Number of Teams      Odds

2 teams                             13 to 2

3 teams                             6 to 1

4 teams                             10 to 1

5 teams                             20 to 1

6 teams                             35 to 1

7 teams                             40 to 1

8 teams                             100 to 1

This basically means that if you take a two team parlay and bet $100, by winning both picks you would be receiving a payout of $260, or three teams on a $100 parlay would pay $600 hence what we mentioned earlier,  risk less to win more. These odds may vary from one bookmaker to another but its basic functioning remains the same. In the case where of the picks from the parlay ties row cancels, the parlay normally will revert to the lower bracket parlay, so for example a three team parlay will revert to a two team parlay in the event of a push or a cancel of one of its picks. In the case where a two team parlay has one of its picks cancels  or push; it will revert to a straight bet.  The odds displayed for each parlay are what its known as fixed odds since they are based on parlays with picks on spreads which most of the time have the standard industry juice (-110). But there are cases in which the juice for a spread has moved or the player used a moneyline instead of a spread, the parlay will pay what is call “true odds”. True odds basically assigns a multiplier to each pick which then is multiplied against the risk amount and from there you get the payout of the parlay. It is a simple process but mostly unknown to most gamblers. Regarding this process we will be looking closer into it on a later publication.

As with any other gimmick or hook up; the Parlay does have the downside that the more teams you use on a parlay, the lower your reals odds to hit it will be. A regular straight bet on a football game will give you 50-50 odds to win which obviously you won’t get when you have the need to win two separate event but the payout will always be higher. So at the end of the day the question remains, do you feel like a winner today???

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