A Parlay is a wager which combines several legs in a wager where the winnings from each selection roll onto the next. For a Parlay to be successful, all individual legs in the Parlay need to be winning selections. In the event of a tie in one of your selections in a parlay, the parlay is reduced to the next lowest number of teams. For example, if you have a 4 team parlay and one of the selections is a tie (only on 2 way markets), the leg would be considered a "push". In this instance, the 4 team parlay would then become a 3 team parlay and would be settled at reduced odds to reflect a winning 3 team parlay.
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Understanding how a moneyline wager pays isn’t simple but it’s not very complicated. That said, it might take running through a few examples before fully grasping the payouts. Moneylines for football and basketball games are often tied to the point spread. When a game has a large point spread it usually has a large moneyline. Both are separate bets but are shown together in a sports wagering app screen and in a brick and mortar sportsbook.
The number that comes after the plus or minus sign is how significant of a favorite or underdog the teams are, regarding points. In the first game, the Bengals are a 1.5 point underdog. This means that the sportsbook thinks the Bengals are going to lose the game by 1.5 points. This means, by default, that the Chiefs are a 1.5 point favorite. This means the sportsbook thinks the Chiefs are going to win the game by 1.5 points.
Many people will say that the odds on a spread bet are even, paying 1:1. But this is not true. The actual odds are 0.90:1. For every dollar bet, you can win 90 cents. When checking out the spread, you’ll usually see a number listed next to each spread. That number, which is your stake, is posted as -110. This number tells you how much you have to bet to win $100. If you put $110 on either team, you stand to win $100. If you bet $11.00, you can win $10.00. Every NFL point spread works this way.
The money line bet always relates to bets of $100. A favorite will be represented by a negative money line figure such as -180. This means that in order to profit $100 off your winning bet, you would need to risk $180 dollars. But as I’m sure you already know, you can risk any amount you are comfortable with and the payment (should you win) will be in proportion to the odds. For example, a $50 bet on a -180 line would win you $27 dollars.
In cases when there is a point spread and moneyline offered on an event, such as an NFL football game, many bettors will place a wager on the moneyline and point spread of an underdog they feel has a chance to pull the upset. They will safely bet the point spread because they feel the game will be close, but will also put themselves in line for a nice payday if the underdog wins straight-up.
Before we go any further, we want to point out some of the reasons moneyline bets are so popular and are utilized so frequently by professionals worldwide. You should always understand the importance of something before you dedicate your time and effort into learning about it. Let’s take a look at the benefits of moneyline bets in your future winning sports betting strategy.
Moneyline parlays are growing in popularity. A parlay is a single wager that is comprised of multiple results. The payout for a parlay is greater than an individual wager on each player or game. Underdog moneyline parlays are becoming popular because the payouts can be very large. Moneyline parlays are becoming popular because of the perceived ease of choosing multiple favorites to win. Choosing one winner is difficult and multiple winners at the same time is even more difficult.
We go in depth on this in the advanced guide on understanding value that we referenced earlier, but we will give you a brief intro on it here. If you’re able to calculate the percentage chance that you have to win in order to break even, and you can figure out the percentage chance that you think you’re going to win the bet, you can figure out very quickly if there is value.
Moneylines have a tendency to move quite a bit in both directions leading up to a game, match, or fight. It’s a delicate dance that you’re going to have to master if you want to find value and push your edges to the max. Sports betting is a profit source that is all about small edges. Finding and being able to capitalize on these small edges is the key to being profitable long-term.
In this instance, the Dodgers are the favored team, as signified by the negative numeral. It would cost you $130 in order to collect a $100 payout on a Dodgers victory (plus the original wager of $130). But if you bet $100 on the Cubs, you'd collect $120 if they win (plus the original wager). In other words, you'll have to wager more money on Los Angeles than you would Chicago in order collect $100 on a bet.
The way the sportsbook does this is by putting out a betting line that is based on how many points they think the better team is going to win by. This is a lot like how our older siblings would "spot us" a few points when we played each other in basketball as kids. For example, let's say that Florida Gators are playing the Arkansas Razorbacks. Let's also say that Florida is the better team and the sportsbook thinks they are going to win the game by seven points. They can't just let everyone bet evenly, or everyone would bet Florida and clean them out. Enter the point spread. The sportsbook would set the point spread on this game at -7 for Florida to win. The negative sign before the number signifies that this team is the favorite to win. This means that if you want to bet on Florida, they have to win by more than 7 points for you to win your bet.
There are four elements to the moneyline bet that you can see here. The first column is just an identifier of which bet is which for the sportsbook. When you place your bets, you can tell the sportsbook you want to bet on the Eagles to win or that you want to take bet 055. This number has nothing to do with the actual game and is just a code for the sportsbook to keep their bets organized.
Is that each game will have a favorite and an underdog. Even in contests where it’s a toss-up, the sportsbook will select someone as the favorite and the underdog for betting purposes. Depending on how big of a favorite or underdog the team or player is, the payout will be adjusted. The bigger the favorite, the smaller the payout. The bigger the underdog, the larger the payout.
Before actually betting or creating your draft for your fantasy football team, it’s best to take time to study the methods well and find a credible website that would give you the best forecast for NCAA Football Odds. The key to a higher probability in winning is to be able to use all the odds in correlation to each other. Once you understand how NCAA Football Odds computed, you’re on the right track to achieving your goal.
There's another reason to bet the underdogs on the moneyline as well. If your handicapping has made you feel very strongly that a poor team is due for a big win then the moneyline allows you to profit much more handsomely from your conclusion than a point spread bet does. The moneyline, then, is a powerful situational tool for people who closely follow the NBA.
The general purpose of spread betting is to create an active market for both sides of a binary wager, even if the outcome of an event may appear prima facie to be biased towards one side or the other. In a sporting event a strong team may be matched up against a historically weaker team; almost every game has a favorite and an underdog. If the wager is simply "Will the favorite win?", more bets are likely to be made for the favorite, possibly to such an extent that there would be very few betters willing to take the underdog.