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.
This is four different games you can bet on, right? Wrong. These are several different handicap bets that you can make on a single game of soccer. Each of the individual rectangles is the same as the point spread bets we talked about earlier. For example, the first rectangle is betting on Liverpool at -3, getting paid 6 to 1. This means that if you take this bet you need Liverpool to win by four or more goals and you will get paid 6 to 1, or $600 for every $100 you wager.
In this game between the Boston Celtics and the Dallas Mavericks, you’re given the option to bet on either team. Going into this game, you know that Mavericks are favored to win. If the sportsbook didn’t adjust something (the line or the payouts), everyone would bet on the Mavericks, and no bets would come in on the Celtics. If the Mavericks were to win, the sportsbook would be out of money and have to shut their doors.
Earlier, we explained how the implied probability of -240 is 70.59% and how the implied probability of +210 is 32.36%. Notice these two probabilities total 102.95%. The extra 2.95% is the bookmaker's advantage. It's called vig, and it's basically a commission that they charge customers for placing wagers. By removing the vig, you can see what the fair odds on the game would be.
In this example, we have a favorite to win, and an underdog. The Packers are the favorites, and that is shown by the (–) value in front of the 6. Underdogs are represented by the (+) value. The 6 point value is how many points either team could win, or lose by. If you think the Packers will win by MORE than 6 points, then you’d bet on the favorite in this case, meaning that the Packers have to win by 7 or more points in order for you to win your bet.