1. Nfl Parlay Sheets
2. Parlay Football Betting Cards

The BetMGM sportsbook apparrived in Pennsylvania on Dec. 17, a few weeks after the launch of the company’s online casino.

“The response to BetMGM Casino in Pennsylvania has been incredible, and we’re thrilled to bring our best-in-class sports betting offering to the Keystone State,” said Adam Greenblatt, BetMGM CEO.

A parlay bet is one of the most popular forms of sports betting. What's great about parlays is that sports bettors can bet on two or more point spreads, OVER/UNDERs or Moneyline Bets, earning a higher payout if all of their picks win as opposed to making a single bet on each one individually. What Is A Parlay Bet? Football Parlay Bets A parlay is a wager on multiple games all placed into a single bet. In theory the payout for a 2-team parlay is the same as if you bet one game, collected your winnings plus stake, and then bet.

PA’s newest sportsbook provided a betting recap of 2020 that included big bets, parlays and more from users across the eight states where the sportsbook is available.

Although BetMGM was not available in PA at the time, the Seattle Seahawks vs. Philadelphia Eagles game on Nov. 30 posted the third-largest handle of any single game in 2020.

BetMGM reflects on 2020

States with the BetMGM app with the highest handle in 2020:

1. Nevada
2. New Jersey
3. Colorado
4. Mississippi
5. Indiana

Jason Scott, VP of Trading, BetMGM, commented in an email:

“COVID wreaked havoc on the 2020 sporting calendar, which was challenging for both bookmakers and bettors. Despite the pandemic, the 2020 sporting season was a great success. We expect continued growth with betting now available in Indiana, West Virginia, Tennessee and Colorado, as well as further development in New Jersey and Pennsylvania.”

At BetMGM, sports with the biggest increase in betting action this year were MMA, golf and soccer.

BetMGM 2020 betting recap

Biggest single game-winning bet of 2020

• $500K to win $510K on Vikings -0.5 (11/29/20)

Biggest parlay winner of 2020

• $100,000 to win $206,000 on two-team parlay including Cardinals over 7.5 and Athletics -189 (9/10/20)

Biggest single-game parlay winner of 2020

1. 1. $10 to win $15,000 on a 10-team Build-a-Bet parlay (12/27/20)
      • D. Lillard over 8.5 assists
      • J. Harden over 10.5 assists
      • C. Wood over 22.5. pts
      • C.J. McCollum over 18.5 pts
      • D. House Jr. over 9.5 pts
      • D. Lillard over 30.5 pts
      • J. Harden 40+ pts
      • C. Wood over 11.5 rebounds
      • D. Jones Jr. over 4.5 rebounds
      • P.J. Tucker over 6.5 rebounds

Biggest handle of a single game in 2020

1. Deontay Wilder vs. Tyson Fury (2/23/20)
2. Super Bowl: Chiefs vs. 49ers (2/2/20)
3. Seahawks-Eagles (11/30/20)
4. Ravens-Patriots (11/15/20)
5. Vikings-Bears (11/16/20)

Single game that had the biggest win for the books in 2020

1. Ravens-Patriots (11/15/20)
2. Seahawks-Eagles (11/30/20)
3. Vikings-Bears (11/16/20)
4. Eagles-Browns (11/22/20)
5. Chargers-Bills (11/29/20)

Biggest NFL and college football winning bets

NFL biggest-winning single bets

• $500K to win $510K on Vikings -0.5 (11/29/20)
• $283,022 to win $523,591 on Rams +185 moneyline (11/23/20)
• $550K to win $522,500 on Buccaneers +3.5 (11/29/20)
• $582,024 to win $506,361 on Saints -8.5 (11/29/20)
• $550K to win $500K on Titans +3 (11/29/20)

NFL biggest-winning parlay bet

• $132K to win $101K on Bills -250 moneyline and Colts -385 moneyline (10/4/20)

College football biggest-winning single bets

• $550K to win $522,500 on Iowa State -105 moneyline (11/27/20)
• $550K to win $522,500 on Kansas State-Baylor over 44.5 (11/28/20)
• $550K to win $500,500 on Utah +7 (11/28/20)
• $550K to win $500,500 on Georgia-South Carolina over 49.5 (11/28/20)

College football biggest-winning parlay bet

• $9 to win $139,543 on nine-team parlay on Arkansas State +450, App State under 59.5, Coastal Carolina +185, Duke +20.5, Georgia Tech +325, North Carolina under 65.5, Iowa State under 56.5, UTSA +200 (9/12/20)

Biggest NBA and college basketball winning bets

NBA biggest-winning single bets

• $71,881 to win $165,327 on Nuggets +230 (9/15/20)
• $49,293 to win $69,010 on Bucks +140 (9/6/20)
• $56,307 to win $61,937 on Heat -7.5 (9/8/20)
• $57,856 to win $60,749 on Heat +6.5 (9/15/20)
• $60,823 to win $57,782 on Nuggets +5.5 (9/15/20)

NBA biggest-winning parlay bet

• $80 to win $52,797 on a five-team parlay on Heat +135, Nets +1300, Blazers +145, Magic +100, Suns +310 (8/4/20)

College basketball biggest-winning bets

• $440K to win $462K on Gonzaga -16 (11/27/20)
• $450K to win $427,500 on Clemson -105 (11/26/20)
• $347,473 to win $316,201 on Boston College -1 (11/26/20)
• $313,290 to win $297,625 on Villanova -5.5 (11/26/20)
• $275K to win $239,250 on Pepperdine -3 (11/25/20)

College basketball biggest parlay bet

• $23,083 to win $65,051 on two-team parlay with Georgia -5.5 and Seton Hall -26.5 (12/8/20)

Largest MLB winning bets

MLB biggest-winning single bets

• $164,309 to win $427,203 on Angels +260 (9/6/20)
• $221,254 to win $380,258 on Rockies -1.5 (9/5/20)
• $200K to win $310K on Orioles +155 (9/5/20)
• $75K to win $232,500 on Orioles +310 (9/4/20)
• $230K to win $230K on Rockies +100 (9/5/20)

MLB biggest-winning parlay

• $100,000 to win $206,000 on two-team parlay including Cardinals over 7.5 and Athletics -189 (9/10/20)

Lead image credit: AP Photo/Alex Brandon

A parlay bet is a popular form of sports wagering most gamblers are familiar with. In case you’re not, this bet is rather easy to understand. A parlay is simply a combo bet where, rather than betting several teams individually, you group them into a single wager. Using this option, the payout is greater and the risk is less, but you need all teams selected to win.

To give an example, say you’re interested this week in betting Jets -4, Patriots +3, Dolphins +2.5 and Colts -7. If your bankroll is limited to just $100, using straight wagers you’d make four separate bets of $25 to win $22.73. If you we’re feeling both lucky and in the mood to gamble, you might instead bet them all together as a four team parlay. Under the parlay option, the stakes would be $100 to win at least $1,000. To win, you’ll need to go 4-0; if one or more games push while all others win, the payout is reduced, and with any other outcome, the bet is a loss.

What happens if there’s a push in a parlay? That bet will be taken out of the parlay and the payout will be reduced as if there were one fewer team in the parlay. So if you had a 4 team parlay and you got three picks cocrrect and the other was a push, you would be paid out the odds of a 3 team parlay.

Parlay bets can be very tempting as they can offer some big payouts. See a recent parlay Kevin made at 5Dimes.eu and cashed in on!

Are Parlays Sucker Bets?

There is a general misconception in sports betting that all parlays are sucker bets. This is simply because most sports bettors are not familiar with how they work, or how to bet them properly. In this article, I’ll address parlay betting strategies, but first let’s look at parlay odds and how they are calculated.

The parlay odds at most Las Vegas sportsbooks are:

2 teams 2.6 to 1
3 teams 6-1
4 teams 10-1
5 teams 20-1
6 teams 40-1
7 teams 80-1
8 teams 150-1

Online the odds are similar, though some sites such as BetNow and MyBookie offer better odds starting with three teams and up. What’s important to note is that these are fixed odds based on a 50/50 wagering proposition. If a spread is listed at Home Team -7 / Road Team +7 this is 50/50 proposition. If, instead, the spread was Home Team -7 -105 / Road Team +7 -115, this is no longer a 50/50 proposition, and the payout will be calculated using a method bookmakers refer to as “true odds”. I’ll cover that later in this article, but first let’s take a moment to understand where fixed parlay odds are derived from.

Let’s say you decide for the next eight weeks you’re going to bet the Monday night football game, starting with a $1.00 bankroll and betting your entire bankroll each week until you go 8-0 or bust. The potential win is as follows:

Week 1: $1.00 to win $0.91: If win total profit = $0.91 (Bankroll =$1.91)
Week 2: $1.91 to win $1.74: If win total profit = $2.65 (Bankroll =$3.65)
Week 3: $3.65 to win $3.32: If win total profit = $5.97 (Bankroll =$6.97)
Week 4: $6.97 to win $6.34: If win total profit = $12.31 (Bankroll =$13.31)
Week 5: $13.31 to win $12.10: If win total profit = $24.41 (Bankroll =$25.41)
Week 6: $25.41 to win $23.10: If win total profit = $46.51 (Bankroll =$47.51)
Week 7: $47.51 to win $43.19: If win total profit = $89.70 (Bankroll =$90.70)
Week 8: $90.70 to win $82.45: If win total profit = $172.15 (Bankroll =$173.15)

The reason parlays are often sucker bets shows up in this middle column. Had you bet these in an 8 team parlay, you’d only get paid 150 to one. Essentially, a parlay is no different than betting all in each time, only parlays generally pay much worse. However, you’ll notice the odds are not poor until you get to four teams, where the sportsbook has a whopping 31.25% advantage. Two teams pay a smidgen worse than the manual parlay (all in each time) option, where three team parlays pay a smidgen better. Rarely ever is a 2 or 3 team parlay a true suckers bet.

What Does a Parlay Pay?

As I mentioned earlier, fixed parlay odds vary greatly between online sportsbooks. Here is some info on which sites offer the best fixed parlay odds:

In general two team parlays pay +260, or $260 for every $100 bet. BetNow offers +264.5, and 5Dimes.eu offers +264, which is better than the +260 most betting sites offer.

3 team parlays pay 6/1 or $600 for every $100 bet. BetOnline.ag is the leader in the industry in 3 team parlay payouts.

This is the area where betting sites generally hurt the sports bettor, paying only 10 to 1, which gives them a 31.25% advantage. This can be avoided when betting at BetNow where the payout is +1228.3, or at 5Dimes where it is +1228.

Nfl Parlay Sheets

Generally speaking, parlaying 5 teams or more teams is not a good idea; however, for sports gamblers looking for a lotto ticket, 5dimes.eu and Bookmaker.eu each offer up to 15 team parlays and have by far the best odds in the business on these.

How much does a 15 team parlay pay? A 15 team parlay will pay out over +16,000. I just tested this out and a $1 15 team NFL parlay at -110 odds will payout $16,306. Good luck hitting on that!

True Odds Parlays

1 Earlier, I mentioned fixed odds are only given when all selections are 50/50 propositions. If one side of a line requires a greater stake than the other to yield the same payout, this is not a 50/50 proposition, and the bookmaker will now use “true odds”. What’s important to note is that true odds doesn’t actually mean the “true odds” of winning. Rather, true odds pays the same as if you bet each team individually and rolled the profit forward each time, which is what I showed in the example of 8 all in bets starting with a $1.00 stake.

To calculate true odd parlays, each bet first needs to be converted into a multiplier. To do this, take what a winning ticket would return and divide it by the amount risked. For example, at -110 a $110 stake returns $210 ($110 stake + $100 win). Calculating the multiplier as return/risk here, we plug in 210/110, which means the multiplier is 1.91. If we did the same on -115, the multiplier is 215/115=1.87.

Let’s say you’re in the mood to gamble on an 8 team parlay, but the only out available to you is a bookmaker paying 150-1 fixed odds. A trick of the trade here is to include one bet that is priced differently than -110 in order to force the bookmaker to use true odds. So, let’s say you make 7 selections priced at the standard -110 pricing and one at -115. A true parlay calculates by multiplying each modifier together. The math is 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.87, which equals 173.41. This bet returns 173.41 times the stake, which includes the risk amount, so the bet is 1 to win 172.41. Notice this is significantly better than the fixed odds payout of 1 to win 150 on an 8 team parlay. In short, the trick of the trade when dealing with poor fixed odds is to simply add one team to the parlay that is priced differently than the standard -110.

As you can now see, if you know how to bet parlays properly, they are not always sucker bets. There are, however, a few reasons that parlays are generally not a good move. I’ll cover these, and then cover the times it does make sense.

Top Reasons to Avoid Parlays

1) Progressive betting systems are generally regarded as poor strategy for both bankroll management and bankroll growth. Professional bettors make wagers based on their quantified edge per game. While the math can work out, doing the math for proper bet sizing on a parlay is a lot of added work with little to no upside for most sports bettors.

2) Parlay bets have higher variance than straight bets. Here you’re getting the same odds, but your chance of hitting a dry spell is greatly increased. When the odds are the same it is most often better to go with the lower variance option, which in this case is straight wagers.

3) Line Shopping – Sports bettors maximize their profit by always shopping for the best price. For example, finding -4 when other sites are -4.5, and finding reduced vig options such as -104 instead of -110. When betting parlays, you’ll need to find the most favorable odds for each team at a single betting site. This scenario is rare, so generally you’ll end up with better odds by making straight wagers at multiple betting sites.

Parlays That Make the Most Sense:

Reduced Juice – BetOnline.ag offers 6.5 to one on three team parlays. This comes out better than betting sides at the -105 price standard reduced juice sports books offer. In sports such as NFL football where 50/50 wagering propositions are common, a sports bettor gets far superior odds by betting 3 team parlays at BetOnline.

Parlay Football Betting Cards

Correlated Parlays – If a bookmaker was offering betting lines on both “will it be cloudy today?” and “will it rain today?”, if allowed, you’d be much better off betting either both as no, or both as yes, in a parlay bet as opposed to straight wagers. While this is a simplified example, there are plenty of times when outcomes are correlated in sports betting. For example, a handicapper might determine that if one team covers the spread, the game is more likely to go over or under the posted total. Also, during the final week of the NFL season, a certain team winning or losing the day game might result in a previously important night game now having no meaning in the playoff race.

Free Play Bonuses – Several online betting sites, for example BetNow, offer players free bets based on the size of their initial deposit. Free play bonuses are not the same as cash. The difference is that a bet made with cash returns both stake and win, where a bet made with a free play returns only win. Parlays allow you the chance to use the same free play more than once, because a parlay really is only a wager that continues to place stake+win on the next selection. Remember, fixed odd three team parlays pay a little better than true odds. So when using free plays to bet 3 team parlays, you’re getting slightly better odds, and also a chance to apply that free play stake to three different bets. This is common knowledge that 3 team parlays are a great use of free play bonuses.

Circumventing Betting Limits – I’ll warn you upfront that betting sites do not take kindly to this, and it might get you banned. The basic idea here is, say you find a parlay with monster value in a small market with low betting limits. Let’s say a woman’s field hockey line opens at +150 when it should be +100. Here making ten unique two-team parlays, using the +150 bet with a random -110 each time might be advantageous, as on average you’ll get down 5 times the max bet. At -110 juice the expected ROI is less, but to get the maximum amount down on line of significant value, it might make sense. While personally I rarely use this strategy online, I do attempt to get away with it in Las Vegas from time to time. This takes a little bit of acting, such as starting to walk away from the cage and then saying wait, also give me… Know this: It is a trick of the trade advantage players use that is not for novice bettors.

This concludes our article on parlay betting. As a final tip: if you enjoy using parlays as a lottery ticket, www.Bovada.lv runs a $10,000 weekly parlay jackpot during football season, which is an added bonus on top of what a $5 stake pays on a 10 team parlay win. To learn more, see the promo section at www.Bovada.lv. If nothing else, this article gives you some great conversation material next time someone in the sports bar says, parlays are for suckers. Hopefully, it ends up being much more than that, adding extra winnings to your bankroll. Either way, we wish you the best of luck.

Other Advanced Sports Betting Strategy Articles:
» Teaser Betting Strategy
» Prop Betting Strategy
» How To Get Max Value When Betting