(also known as Mutliples or Combos)
Parlays, also known as Multiples or Combos, are a very exciting way to win a nice amount
of money with little risk.
A parlay is a bet of 2 or more teams or Propositions in no
particular order. All teams wagered on in a parlay must win. If there is a tie, it reverts
down to the next lowest number for payoff. For 2 team parlays, tie and win becomes a
straight bet payout.
Round Robin Parlays
A Round Robin is simply a nickname for parlay wagering on a group of selections (at least
three or more) that are to be included in a combination of individual parlays.
For instance, if a player asked for a $100, three-team Round Robin with teams A, B, and C,
he/she is simply requesting a two-team parlay with teams A and B, another parlay with
teams A and C, and another with teams B and C, for a total of 3 individual parlays, each
for $100. The total amount risked would be $300.
Round Robins get more complex as the number of
teams increases. A four-team Round Robin "by twos" for $100 would mean that the
bettor wants four teams to be included in a combination of two-team parlays. This would be
a total of six individual two-team parlays, for a total risk of $600. If the request is
for a Round Robin "by threes", it would include a total of four possible
combinations, for a risk of $400.
A player requests a $100 four team Round Robin by twos", with teams A, B, C
and D. The possible combinations would be as follows:
Teams AB $100 to win $260
Teams AC $100 to win $260
Teams AD $100 to win $260
Teams BC $100 to win $260
Teams BD $100 to win $260
Teams CD $100 to win $260
If all four teams win, the player wins $1240, while risking only $600! If one game
loses, there is still a profit, even though three of the parlays would lose. The
three winners get back $780, plus the $100 laid for each parlay, for a total of $1080.
After subtracting $300 for the 3 losers, the player profits $480!