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• What Does Include In Multiples Mean In Betting Line
• What Does Include In Multiples Mean In Betting Odds
• What Does Include In Multiples Mean In Betting Games

The bettor has selected a formula of two for the parlay bet, this means, that two out of the three legs must be successful for the bet to win. The bet amount is $10, and the total bet cost is $30, because there are three possible combinations that will see the bet be successful, they are: Formula 2 combinations: Races 3 & 4 – Horse 1 and horse 5. Multiples Betting Term Meaning A multiple of something refers to more than one which is exactly what the betting term multiples means. Find out the different types of multiple bets you can place and how the payout is calculated. A ‘multiple’ wager is defined as a linked series of to-win single bets. What this effectively does is to split your single bet in half, applying half to the -½ handicap and half to the -1 handicap. For example: You wager $110 to win $100 on Manchester United -½,-1 and they win 2-1. You win $50 as you’ve won the half of your bet at -½ but only pushed the half of the bet at -1.

Multiples betting explained: What is a Multiple bet?

Multiples betting, perhaps unsurprisingly, is a form of betting that combines multiple bets into one. Whether it’s a Money Line, Handicap or an Over/Under (or any other available market type), when you place a bet with one selection it’s known as a Single. When you combine more than one selection into one bet it becomes a Multiple.

Bettors may know a Multiple by various different names. To some it’s a parlay, while others might know it as an accumulator. Regardless of the name, the concept for this type of bet is the same. Just like the selection you make for a Single bet must win for your Single bet to be a winner, all of the selections in a Multiple must win in order for that Multiple bet to be a winner.

The most common type of Multiple bet simply multiplies the odds for each selection by each other in order to calculate the odds for the bet overall. Below is an example of how to calculate the odds for a Multiple bet.

We know to calculate the return for each of these individual bets as a Single, we follow a simple formula:

€10 x 2.50 = €25.00

€10 x 3.69 = €36.90

However, to calculate it for a Multiple we must multiply each of the selections by each other.

2.50 x 2.35 x 3.69 = 21.678

Therefore, the return for this Multiple bet would be:

What are the different types of Multiple bet?

While the idea of a Multiple bet should be a fairly straightforward one to understand, there are some slight nuances as far as this particular bet type is concerned. We’ve already covered that a bet with one selection is a Single and anything above is a Multiple but as the number of selections increases, a Multiple bet can be split out to more than just one bet.

Two selections in one bet is a double, three a treble and anything above is a four-fold, five-fold and six-fold and so on (some might call these a four-leg or four-timer etc.). However, below are other bet types that might fall under the term Multiple in betting. Instead of all selections combined into one bet, these bet types cover various different bet combinations.

Patent – Seven bets covering different permutations across three selections (three singles three doubles and one treble).

Yankie – 11 bets covering different permutations across four selections (six doubles, four trebles and one four-fold)

Lucky 15 – 15 bets covering different permutations across four selections (four singles, six doubles, four trebles and one four-fold)

Lucky 31 – 31 bets covering different permutations across five selections (five singles, 10 doubles, 10 trebles, five four-folds and one five-fold)

Canadian – 26 bets covering different permutations across five selections (10 doubles, 10 trebles, five four-folds and one five-fold)

Heinz – 57 bets covering different permutations across six selections (15 doubles, 20 trebles, 15 four-folds and six five-folds and one six-fold).

Super Heinz – 120 bets covering different permutations across seven selections (21 doubles, 35 trebles, 35 four-folds and 21 five-folds and seven six-folds and one eight-fold).

Goliath – 247 bets different permutations across eight selection (28 doubles, 56 trebles, 70 four-folds, 28 six-folds, eight seven-folds and one eight-fold).

Multiples betting: Advantages and disadvantages

It’s clear to see, from the example provided earlier in the article, what the main attraction is for bettors when it comes the Multiples betting: the potential for a greater return on a smaller investment. This also highlights the main disadvantage to bettors. More selections increases the risk and reduces the likelihood of your bet winning because each selection must win for the bet to win as a whole.

It’s no surprise that this form of betting is a popular choice for more recreational bettors with little understanding of the probabilistic implications of such a bet. Those who are more serious about their betting will tend to warn against this type of betting as there is a greater chance for randomness or luck to impact the outcome of the bet given that its success is dependent on the outcome of more than one event.

If you have an edge and can beat the market, Pinnacle’s reduced margin on Multiples means you can get even more value out of your bets.

Despite there being good reason to avoid Multiples betting if your end goal is to make a consistent profit, there is also a case to be made for why Multiples betting might appeal to sharp bettors as well.

The mechanic behind a Multiple bet is that it’s multiplicative and when you have a legitimate edge as a bettor, this can multiplicative too. This means that a Multiple bet could provide an opportunity for bettors to magnify their edge.

We can use an example to help calculate how much a bettor would expect to win when they have an edge using two Singles bets and a Multiple bet with the same selections combined.

To make things simple, let’s suppose the bookmaker has both the Houston Texans (-3) and the Green Bay Packers (-5.5) listed at odds of 2.10 on the NFL Handicap market. This suggests around a 47% chance of covering the handicap, but by your calculation they have a 50% chance.

This is what your different bets might look like with a €100 bet on each selection (€200 total stake):

The expected profit in this example would be as follows:

ROI = 10/200 = 5%

Now, we can use the same example but calculate the expected profit with a €200 bet on the Multiples (€200 total stake).

ROI = 20.5/200 = 10.25%

What Does Include In Multiples Mean In Betting Line

Multiples betting at Pinnacle

Those who have placed a Multiple bet with Pinnacle in the past may be aware that the odds for the selections within a Multiple bet were slightly different to the odds for the same selections being placed in a Single bet. This is because Pinnacle used to apply a slightly increased margin on Multiples bets in order to help manage the risk associated to these types of bet from a bookmaker’s perspective.

Now, however, you can combine Pinnacle’s low margin odds into a Multiple bet and the margin on your selections will be exactly the same as if they were a Single bet. This means you can take full advantage of your edge and win more when you bet with Pinnacle.

If you have an edge and can beat the market, Pinnacle’s reduced margin on Multiples means you can get even more value out of your bets. It doesn’t matter how much you want to bet or how much you win, Pinnacle is always the smart choice for bettors.

A parlay bet is a popular form of sports wagering most gamblers are familiar with. In case you’re not, this bet is rather easy to understand. A parlay is simply a combo bet where, rather than betting several teams individually, you group them into a single wager. Using this option, the payout is greater and the risk is less, but you need all teams selected to win.

To give an example, say you’re interested this week in betting Jets -4, Patriots +3, Dolphins +2.5 and Colts -7. If your bankroll is limited to just $100, using straight wagers you’d make four separate bets of $25 to win $22.73. If you we’re feeling both lucky and in the mood to gamble, you might instead bet them all together as a four team parlay. Under the parlay option, the stakes would be $100 to win at least $1,000. To win, you’ll need to go 4-0; if one or more games push while all others win, the payout is reduced, and with any other outcome, the bet is a loss.

What happens if there’s a push in a parlay? That bet will be taken out of the parlay and the payout will be reduced as if there were one fewer team in the parlay. So if you had a 4 team parlay and you got three picks cocrrect and the other was a push, you would be paid out the odds of a 3 team parlay.

Parlay bets can be very tempting as they can offer some big payouts. See a recent parlay Kevin made at 5Dimes.eu and cashed in on!

Are Parlays Sucker Bets?

There is a general misconception in sports betting that all parlays are sucker bets. This is simply because most sports bettors are not familiar with how they work, or how to bet them properly. In this article, I’ll address parlay betting strategies, but first let’s look at parlay odds and how they are calculated.

The parlay odds at most Las Vegas sportsbooks are:

2 teams 2.6 to 1
3 teams 6-1
4 teams 10-1
5 teams 20-1
6 teams 40-1
7 teams 80-1
8 teams 150-1

Online the odds are similar, though some sites such as BetNow and MyBookie offer better odds starting with three teams and up. What’s important to note is that these are fixed odds based on a 50/50 wagering proposition. If a spread is listed at Home Team -7 / Road Team +7 this is 50/50 proposition. If, instead, the spread was Home Team -7 -105 / Road Team +7 -115, this is no longer a 50/50 proposition, and the payout will be calculated using a method bookmakers refer to as “true odds”. I’ll cover that later in this article, but first let’s take a moment to understand where fixed parlay odds are derived from.

Let’s say you decide for the next eight weeks you’re going to bet the Monday night football game, starting with a $1.00 bankroll and betting your entire bankroll each week until you go 8-0 or bust. The potential win is as follows:

Week 1: $1.00 to win $0.91: If win total profit = $0.91 (Bankroll =$1.91)
Week 2: $1.91 to win $1.74: If win total profit = $2.65 (Bankroll =$3.65)
Week 3: $3.65 to win $3.32: If win total profit = $5.97 (Bankroll =$6.97)
Week 4: $6.97 to win $6.34: If win total profit = $12.31 (Bankroll =$13.31)
Week 5: $13.31 to win $12.10: If win total profit = $24.41 (Bankroll =$25.41)
Week 6: $25.41 to win $23.10: If win total profit = $46.51 (Bankroll =$47.51)
Week 7: $47.51 to win $43.19: If win total profit = $89.70 (Bankroll =$90.70)
Week 8: $90.70 to win $82.45: If win total profit = $172.15 (Bankroll =$173.15)

The reason parlays are often sucker bets shows up in this middle column. Had you bet these in an 8 team parlay, you’d only get paid 150 to one. Essentially, a parlay is no different than betting all in each time, only parlays generally pay much worse. However, you’ll notice the odds are not poor until you get to four teams, where the sportsbook has a whopping 31.25% advantage. Two teams pay a smidgen worse than the manual parlay (all in each time) option, where three team parlays pay a smidgen better. Rarely ever is a 2 or 3 team parlay a true suckers bet.

What Does a Parlay Pay?

As I mentioned earlier, fixed parlay odds vary greatly between online sportsbooks. Here is some info on which sites offer the best fixed parlay odds:

In general two team parlays pay +260, or $260 for every $100 bet. BetNow offers +264.5, and 5Dimes.eu offers +264, which is better than the +260 most betting sites offer.

3 team parlays pay 6/1 or $600 for every $100 bet. BetOnline.ag is the leader in the industry in 3 team parlay payouts.

This is the area where betting sites generally hurt the sports bettor, paying only 10 to 1, which gives them a 31.25% advantage. This can be avoided when betting at BetNow where the payout is +1228.3, or at 5Dimes where it is +1228.

Generally speaking, parlaying 5 teams or more teams is not a good idea; however, for sports gamblers looking for a lotto ticket, 5dimes.eu and Bookmaker.eu each offer up to 15 team parlays and have by far the best odds in the business on these.

How much does a 15 team parlay pay? A 15 team parlay will pay out over +16,000. I just tested this out and a $1 15 team NFL parlay at -110 odds will payout $16,306. Good luck hitting on that!

True Odds Parlays

1 Earlier, I mentioned fixed odds are only given when all selections are 50/50 propositions. If one side of a line requires a greater stake than the other to yield the same payout, this is not a 50/50 proposition, and the bookmaker will now use “true odds”. What’s important to note is that true odds doesn’t actually mean the “true odds” of winning. Rather, true odds pays the same as if you bet each team individually and rolled the profit forward each time, which is what I showed in the example of 8 all in bets starting with a $1.00 stake.

To calculate true odd parlays, each bet first needs to be converted into a multiplier. To do this, take what a winning ticket would return and divide it by the amount risked. For example, at -110 a $110 stake returns $210 ($110 stake + $100 win). Calculating the multiplier as return/risk here, we plug in 210/110, which means the multiplier is 1.91. If we did the same on -115, the multiplier is 215/115=1.87.

Let’s say you’re in the mood to gamble on an 8 team parlay, but the only out available to you is a bookmaker paying 150-1 fixed odds. A trick of the trade here is to include one bet that is priced differently than -110 in order to force the bookmaker to use true odds. So, let’s say you make 7 selections priced at the standard -110 pricing and one at -115. A true parlay calculates by multiplying each modifier together. The math is 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.91 * 1.87, which equals 173.41. This bet returns 173.41 times the stake, which includes the risk amount, so the bet is 1 to win 172.41. Notice this is significantly better than the fixed odds payout of 1 to win 150 on an 8 team parlay. In short, the trick of the trade when dealing with poor fixed odds is to simply add one team to the parlay that is priced differently than the standard -110.

What Does Include In Multiples Mean In Betting Odds

As you can now see, if you know how to bet parlays properly, they are not always sucker bets. There are, however, a few reasons that parlays are generally not a good move. I’ll cover these, and then cover the times it does make sense.

Top Reasons to Avoid Parlays

1) Progressive betting systems are generally regarded as poor strategy for both bankroll management and bankroll growth. Professional bettors make wagers based on their quantified edge per game. While the math can work out, doing the math for proper bet sizing on a parlay is a lot of added work with little to no upside for most sports bettors.

What Does Include In Multiples Mean In Betting Games

2) Parlay bets have higher variance than straight bets. Here you’re getting the same odds, but your chance of hitting a dry spell is greatly increased. When the odds are the same it is most often better to go with the lower variance option, which in this case is straight wagers.

3) Line Shopping – Sports bettors maximize their profit by always shopping for the best price. For example, finding -4 when other sites are -4.5, and finding reduced vig options such as -104 instead of -110. When betting parlays, you’ll need to find the most favorable odds for each team at a single betting site. This scenario is rare, so generally you’ll end up with better odds by making straight wagers at multiple betting sites.

Parlays That Make the Most Sense:

Reduced Juice – BetOnline.ag offers 6.5 to one on three team parlays. This comes out better than betting sides at the -105 price standard reduced juice sports books offer. In sports such as NFL football where 50/50 wagering propositions are common, a sports bettor gets far superior odds by betting 3 team parlays at BetOnline.

Correlated Parlays – If a bookmaker was offering betting lines on both “will it be cloudy today?” and “will it rain today?”, if allowed, you’d be much better off betting either both as no, or both as yes, in a parlay bet as opposed to straight wagers. While this is a simplified example, there are plenty of times when outcomes are correlated in sports betting. For example, a handicapper might determine that if one team covers the spread, the game is more likely to go over or under the posted total. Also, during the final week of the NFL season, a certain team winning or losing the day game might result in a previously important night game now having no meaning in the playoff race.

Free Play Bonuses – Several online betting sites, for example BetNow, offer players free bets based on the size of their initial deposit. Free play bonuses are not the same as cash. The difference is that a bet made with cash returns both stake and win, where a bet made with a free play returns only win. Parlays allow you the chance to use the same free play more than once, because a parlay really is only a wager that continues to place stake+win on the next selection. Remember, fixed odd three team parlays pay a little better than true odds. So when using free plays to bet 3 team parlays, you’re getting slightly better odds, and also a chance to apply that free play stake to three different bets. This is common knowledge that 3 team parlays are a great use of free play bonuses.

Circumventing Betting Limits – I’ll warn you upfront that betting sites do not take kindly to this, and it might get you banned. The basic idea here is, say you find a parlay with monster value in a small market with low betting limits. Let’s say a woman’s field hockey line opens at +150 when it should be +100. Here making ten unique two-team parlays, using the +150 bet with a random -110 each time might be advantageous, as on average you’ll get down 5 times the max bet. At -110 juice the expected ROI is less, but to get the maximum amount down on line of significant value, it might make sense. While personally I rarely use this strategy online, I do attempt to get away with it in Las Vegas from time to time. This takes a little bit of acting, such as starting to walk away from the cage and then saying wait, also give me… Know this: It is a trick of the trade advantage players use that is not for novice bettors.

This concludes our article on parlay betting. As a final tip: if you enjoy using parlays as a lottery ticket, www.Bovada.lv runs a $10,000 weekly parlay jackpot during football season, which is an added bonus on top of what a $5 stake pays on a 10 team parlay win. To learn more, see the promo section at www.Bovada.lv. If nothing else, this article gives you some great conversation material next time someone in the sports bar says, parlays are for suckers. Hopefully, it ends up being much more than that, adding extra winnings to your bankroll. Either way, we wish you the best of luck.

Other Advanced Sports Betting Strategy Articles:
» Teaser Betting Strategy
» Prop Betting Strategy
» How To Get Max Value When Betting