A parlay (frequently known as an accumulator in the UK) is a single wager whose outcome is decided by 2 or more underlying bets. Each of the inherent bets must win for the parlay to win. If some of those underlying bets lose, the entire parlay is graded as a reduction (if an underlying wager pushes then the parlay is treated as if the pushed leg never existed – therefore a 4-team parlay would become a 3-team, a 3-team a 2-team, and a 2-team one bet). Parlays offer a bettor a higher potential return for increased risk. In the united kingdom and Ireland 2-team parlays are known as doubles, and 3-team parlays are called trebles. (Non-parlay bets are called singles, highlighting how those“normal“ bets are actually just one-team parlays.)
Back in the old times of street-corner betting, building a wager occasionally be a difficult process as it might require physically locating the bookie in order to make a bet. In order to partially overcome this problem a player could tell his bookie,“Place $2 on the Brooklyn Dodgers at even odds and if this bet wins it all on tomorrow’s New York Highlanders game at 2/1.“ (In this case the player would be risking $2 on Brooklyn. IIf that bet won he’d have $4 that he would subsequently be devoting at 2/1 odds on New York. If this bet won he would have $12 of which $2 represented his first stake and $10 represented his winnings. If bet lost, he’d be left with nothing.) In this manner, the participant would not need to wait and see if his first wager won to choose if he could manage to put money on the next wager. It didn’t take long, but for bookies to figure out that the matches a player wanted to parlay did not necessarily must occur sequentially and could in reality take place simultaneously. It didn’t matter which bet was rated at first the result was exactly the same. If some of those inherent bets dropped, the entire parlay was rated as a loss, and when all the stakes won, the whole parlay was rated as a win.
This calculator determines parlay payouts as well as related premiums awarded a set of inherent bet odds.
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