What is a Parlay?
A parlay is two or more straight wagers combined on the same bet slip, none of which can be a loss if the ticket is to win. You must win every event in a parlay, except pushes. Pushes may not cause a parlay to be a loss but will reduce the payout as the parlay reduces to the next lowest number of plays. You may have 2-20 picks in one parlay at BetUS, and you can mix in many different sports in the same parlay.
The maximum payout for any parlay is $200,000.
How Does a Parlay Work?
A parlay works by giving you much bigger payouts than single wagers; allowing you to place one amount on a number of events (between 2-20 at BetUS) all on one Bet Slip. If any of the events are graded a push, no action, or canceled, then the parlay will revert to the next lowest number with the odds reducing accordingly. For example, a four-team parlay with one canceled/pushed game becomes a three-team parlay. If any event in a parlay is graded as a loss, the entire parlay is a loss.
When all the events in a parlay are at standard odds of -110, the parlay will payout according to the parlay payout table below:
Parlay Payout Table:
When events that are not at standard odds are included in a parlay, the parlay will pay out according to True Odds, where each selection is given a multiplier which is calculated using the Moneyline to divide (risk amount + win amount) by risk amount. The risk amount used is either the amount you need to wager to win $100, for favorites (negative odds); or the amount you win by risking $100 if the pick is an underdog (positive odds).
How Does Parlay Math Work
*Skip this section if math makes your brain hurt: Once you have the multipliers for each selection, you multiply all these values with the risk amount to find the payout (which will include the risk amount).
For example, in a two-team parlay, one favorite and one underdog:
New York -175
New York -175 means a risk of $175 to win $100. A win would return $275 so the multiplier is 275/175 = 1.57.
Houston +160 means a risk of $100 to win $160. A win would return $260 so the multiplier is 260/100 = 2.6.
To calculate your parlay payout:
1.57 x 2.6 = 4.08
Thus, to find out how much your parlay will payout, you multiply 4.08 by whatever your wager amount is. Keep in mind that since this calculation includes the risk amount, you must subtract 1, making your net payout 3.08 times the risk amount.
Buying Points in a Parlay
If your parlay contains point spread or total wagers, you may buy points for those picks when you bet at BetUS.
in the BetUS sportsbook on the website, you may buy up to 10 points, available in ½ point increments, on up to 15 games. Over the phone, however, you may buy points on up to all 20 events.
Why use a parlay?
The benefit of placing parlays is to receive a larger payout for a smaller risk amount than you would achieve by making a series of single wagers. Obviously, as any loss in your parlay means the whole wager is a loss, your risk is higher. You must decide whether or not that higher payout amount is worth the added risk.
How to Place a Parlay?
Go to the sportsbook page at BetUS. If you only want to see the lines for one sport, such as football, click the football link in the menu on the right to see what options are available for wagering on football. The options will show up in a dropdown menu underneath the main football tab.
If you want to bet on NFL, click on it and the available games will show up in the middle of the page in what is called the betting engine. Choose which NFL events you would like to bet on by clicking on the odds displayed in the betting engine. After your choice loads, you will see it in the right-hand column under Bet Slip.
To choose another sport to add to your ticket, go back to the Sports column on the left and click another sport. Choose again from the available events and add them to your Bet Slip.
The system will automatically inhibit you from choosing two correlated wagers on the same game. For example, choosing Team A to win on the point spread and also on the moneyline. You will only be able to choose one or the other, as they are otherwise too similar (correlated) to allow on the same ticket.
BetUS also allows you to place what is called a Rolling If-Bet on Parlays. This allows you to place a new bet with the funds from a previous bet, with a few conditions. Click the link to find out how if a Rolling If-Bet can work for you.
All your chosen events will be listed in the Bet Slip with your wager options above.
As you are choosing your events, you will see wager options for placing a Parlay, If Bet, Reverse and Teaser in the Bet Slip. Straight will be the default wager type until you choose something else. Whatever wager type the Bet Slip is set to will be grey, as below.
Click the Parlay button and you will see all your selections listed in the Bet Slip. You must enter a Risk amount of at least $5, and your payout amount will automatically calculate.
Three-team parlay ticket, standard odds.
Three-team parlay ticket, after buying points.
To add more selections or an event from another sport in the menu, just bring up the lines for that sport in the betting engine again and select another event. The Bet Slip will add that event and keep itself in Parlay mode. If you have already entered a Risk amount, the Payout amount will automatically readjust with the new event’s odds.
Placing Your Parlay Bet
To place your bet into the system, click the Place my bets button under the Bet Slip:
Here, your BetUS Bet Slip gives you one more chance to view your pending wager before it is placed. This includes the game information, lines, and Risk and Win amounts. To confirm your wager, simply click Confirm. After you do this, you will be unable to change your wager and BetUS will be unable to cancel it.
Once your wager is confirmed, the Bet Slip will again show you all your wager details and ask you to print a hard copy of your Slip. In case of emergency or other circumstance, no internet claims will be honored unless a printed copy of bets in question is supplied.