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# How Do You Read A Parlay?

A parlay is a type of sports betting wager that combines two or more individual wagers into one bet. A parlay bet is much more difficult to win than a single bet, but pays out at higher odds. In order for a parlay bet to win, all of the individual bets within the parlay must win. If any of the wagers within the parlay lose, the entire parlay bet is a loss.

## Types of Parlays

Parlays are available in all types of sports betting, from football to basketball to horse racing. The most popular type of parlay is a point spread parlay. This type of parlay combines multiple point spread bets, with the odds increasing with each additional bet.

Other types of parlays include money line parlays, which combine money line bets, and total line parlays, which combine total line wagers.

Before you can place a parlay bet, you will need to understand how to read a parlay ticket. Parlay tickets are typically written out in a line format, with each bet listed in succession.

For example, a three-team point spread parlay might look like this:

• New York Giants +3
• New England Patriots -7
• Miami Dolphins +5

In order for this parlay to win, all three teams must cover the spread. If one of the teams does not cover the spread, the entire parlay is lost.

## Odds for Parlays

Parlay bets typically pay out at higher odds than individual bets. The exact odds will vary from sportsbook to sportsbook, but in general, the more teams you add to a parlay, the higher the odds will be.

For example, a three-team parlay might pay out 6 to 1 odds, while a five-team parlay might pay out 20 to 1 odds.

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## Calculating Payouts

Once you understand the odds for a parlay, you can calculate the potential payout for the bet. To do this, you simply multiply the odds by the amount of the wager.

For example, if you place a \$50 bet on a three-team parlay that pays out 6 to 1 odds, your potential payout will be \$300 (6 x \$50).

## Placing a Parlay Bet

Once you have selected the teams you want to bet on and determined the amount of your wager, you can place your parlay bet. Most sportsbooks will allow you to place a parlay bet online, or you can visit a physical sportsbook to place your bet.

## Parlay Tips

Parlay bets can be a great way to increase the potential payout of a wager, but they can also be risky. Here are some tips to help you make smart parlay bets.

Do your research before placing a parlay bet. Make sure you understand the teams involved, the odds for each bet, and the potential payout for the wager.

Parlay bets can be risky, so it’s important to know your limits. Set a budget for how much you’re willing to wager and stick to it.

### Start Small

If you’re new to parlay betting, start small. Try placing a two- or three-team parlay before venturing into more complex wagers.

### Know When to Stop

If you hit a streak of wins, you may be tempted to continue betting in hopes of hitting a bigger payout. However, this can be a dangerous strategy. Know when to stop and walk away with your winnings.

## Conclusion

Parlay bets can be a great way to increase your potential payout, but they can also be risky. Do your research, understand the odds, and know your limits before placing a parlay bet. With the right strategy, parlay bets can be a great way to make money on sports betting.