A parlay bet is a single bet that links together two or more wagers and is dependent on all of those wagers’ mwplay login winning. For example, let’s say that you wanted to bet on the Yankees, Mets, and Red Sox all winning their respective games. You could place a three-team parlay bet and, if all three teams won, you would collect a hefty payout. Of course, the flip side of that is that if even one team loses, your entire bet is a loser.
Types of Parlays
There are two types of parlays: fixed odds parlays and progressive parlays. With fixed odds parlays, the payout is determined by the start of the last game in the bet. So, if you placed a three-team fixed odds parlay bet on the Yankees, Mets, and Red Sox and two of the teams won but the third lost, you would not win anything.
With progressive parlays, however, the situation is different. With these types of bets, even if one team loses, you can still win as long as the other teams in your bet cover the spread. Of course, your payout will be less than it would have been had all three teams won since you now have what amounts to a two-team bet.
The house edge for parlay bets varies depending on how many teams are involved in the bet. For two-team parlays, the house edge is about 13%. For three-team parlays, it’s about 11%. And for four-team or higher parlays, it grows to about 9%.
Parlay bets can be a fun way to increase your potential payout on a given day but it’s important to remember that they come with increased risk. Before placing any bets—especially ones that are linked together—make sure that you understand what you’re doing and always remember that the house always has an edge.