For sports bettors there is nothing like the excitement of hitting a big parlay wager. The odds of winning one of these monster lottery shots increase with the number of teams in the parlay wager. Besides a long shot future bet, a parlay wager is the only wager type where a novice sports bettor can risk a very minimal amount of money and if everything goes right and all the stars line up the sports bettor could end up with a major parlay payoff!
More times than not though it is the sports bookmaker that ends up laughing all the way to the bank! Most pay per head bookmaking services offer sports betting software which, on average, allows their sports bookies the option of offering their sports bettors anywhere from 2 to 10 team parlays.
The sports gambling industries average parlay payoff odds are listed below;
- 2 team parlay wager (@ -110) =’s a parlay payoff of 13/5
- 3 team parlay wager (@ -110) =’s a parlay payoff of 6/1
- 4 team parlay wager (@ -110) =’s a parlay payoff of 11/1
- 5 team parlay wager (@ -110) =’s a parlay payoff of 20/1
- 6 team parlay wager (@ -110) =’s a parlay payoff of 40/1
- 7 team parlay wager (@ -110) =’s a parlay payoff of 75/1
- 8 team parlay wager (@ -110) =’s a parlay payoff of 150/1
- 9 team parlay wager (@ -110) =’s a parlay payoff of 300/1
- 10 team parlay wager(@ -110) =’s a parlay payoff of 700/1
Of course the parlay payoff can increase if for instance the bettor substitutes a money line dog for a favorite. (For instance; plus money example +130 in the place of a -110 favorite). For this reason some of the more savvy sports bookies will actually limit the number of underdogs that a bettor can use in a parlay. Others will simply wish them luck as doing so actually decreases the chances of winning but increases the payoff, but most times it’s the bookie that ends up counting the money!
Parlay bettors are commonly referred to within the gambling industry as “suckers: or “sucker bettors” making “sucker bets”. But who can blame a novice sports bettor for feeling lucky and taking a chance and risking as little as $10 and if the betting gods are smiling on them that day they can walk away with a $7000 payday for that $10 dollar wager!
Sports bookies love the action when these types of players loses but when the win it is whole different story for two reason;
- The 1st and obvious reason is the loss of income!
- The 2md and most important reason is let’s say using the scenario above that the sports bettor did only risk $10 and won $7000. Well 9 out of 10 times these parlay bettors betting patterns won’t change simply because they won a big parlay. So at the end of the day at $10 a wager it is going to take a long time and a lot of $10 parlay wagers for the sports bookmaker to get back to even on this particular bettor!
These types of scenarios don’t happen often but when they do you can bet that there is one happy sports bettor to go along with one pissed off sports bookie who is simply left scratching his head as he payoffs the guy they all call the “sucker bettor”!
