What is Parlay Betting? The Easiest Way to Calculate Parlay Bets
The demand for understanding parlay betting among Vietnamese bettors is quite high. However, many articles on blogs and forums lack clarity and can be misleading. In this topic, Wintips will explain everything about parlay betting and provide the easiest way to calculate parlay bets.
Currently, browsing through various football betting blogs and forums in Vietnam, it's clear that many players are eager to learn about parlay betting, how to calculate parlays, and how to place parlay bets. However, most articles fail to provide a comprehensive and detailed explanation. Even worse, some websites offer incorrect definitions and calculations, causing confusion for bettors. Therefore, in this article, win betting tips will cover all aspects of parlay betting, including the simplest and most accurate method to calculate parlay odds.
What is Parlay Betting?
First, let's define what parlay betting is. Parlay betting is a popular type of sports bet used in both traditional casinos and latest football prediction site. To place a parlay bet, a player must wager on at least two different events within the same bet slip.
There are different types of parlays, such as 2-leg parlays, 3-leg parlays, 4-leg parlays, and even 9-leg or 10-leg parlays. The number in the parlay (e.g., 2, 3, or 4) indicates the number of selections included in a single bet.
Simply put:
A 2-leg parlay means betting on two different events.
A 3-leg parlay means betting on three different events.
An N-leg parlay means betting on N different events.
Players can place bets on various betting markets, including Asian Handicap, European Odds, Over/Under, Corners, and Cards, as long as these bets do not occur within the same match. Some bookmaker world cup now allow parlay bets within the same match, but this type of bet is still uncommon in Vietnam.
Example of Parlay Betting
For instance, if a player wants to bet on the match between Manchester United vs. Chelsea and another match between Barcelona vs. Real Madrid, they can place a parlay bet covering both matches. If both bets win, the player receives a much higher payout than if they had bet on just one match.
However, while the potential profit is high, the probability of winning a parlay bet is much lower. The more events you include in a parlay, the lower your chances of winning. Even if only one selection loses, the entire parlay is considered a loss, and the player forfeits their stake. Therefore, bettors should carefully consider their choices and avoid risking too much money on high-risk parlays.
At this point, after understanding what parlay betting is, many players may wonder how to calculate the payouts, what happens if a selection results in a half-win or half-loss, and how the bookmaker determines the final payout. Don’t worry! The following section will explain everything in detail.
The Easiest Way to Calculate Parlay Bets
How to Calculate Parlay Odds
To calculate parlay odds, players must know the odds of each individual selection and then apply the following formula:
Parlay ODDS=Odds 1 × Odds 2 × Odds 3 × … × Odds N
Where:
Odds 1 is the payout multiplier for the first selection.
Odds 2 is the payout multiplier for the second selection.
Odds N is the payout multiplier for the Nth selection.
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