Understanding Point Spread Parlays
If you’re looking to take your sports betting game to the next level, point spread parlays might be the perfect option.
A point spread parlay combines multiple spreads into a single wager, offering the chance for significant payouts if all your picks win.
Use our point spread parlay calculator to help find the overall odds and potential payout for your wagers. Plus, check out our tips for building the best spread parlays.
[Parlay point spread calculator]
What is a Point Spread Parlay?
Point spreads level the playing field between the favorite and the underdog by assigning a margin that the favorite must win by (or the underdog must cover). For example:
- Favorite: -6.5 (must win by at least 7 points)
- Underdog: +6.5 (must lose by no more than 6 points or win outright)
A point spread parlay combines multiple bets on these spreads into a single wager. To win the parlay, every leg (or individual bet) must hit. If one loses, the entire parlay is a loss.
Example Scenario:
Imagine placing a two-team point spread parlay:
- Game 1: Team A -3.5
- Game 2: Team B +7.5
If both Team A covers by winning by 4+ points and Team B covers by losing by 7 or fewer (or winning outright), the parlay wins. With combined odds, your payout would be significantly higher than betting each game individually.
How Odds for Point Spread Parlays are Calculated
Calculating parlay odds involves multiplying the decimal odds of each individual leg. Here’s a step-by-step guide:
Convert American odds to decimal odds:
American odds like -110 represent how much you must bet to win $100 or the equivalent decimal value. To convert, use the formula:
- For negative odds: Decimal Odds = 1 + (100 / |American Odds|)
- For positive odds: Decimal Odds = 1 + (American Odds / 100)
Example: -110 = 1 + (100 / 110) = 1.91
Multiply the odds for all legs:
Once you have the decimal odds for each leg, multiply them together to calculate the combined odds.
Example: For a two-leg parlay with odds of 1.91 and 1.91
- 1.91 x 1.91 = 3.64
Multiply by your stake to find the potential payout:
Multiply the combined odds by your stake to determine your total payout.
Example: A $100 bet x 3.64 = $364 total payout ($264 profit + $100 stake).
Adjust for additional legs:
Add more legs to your parlay by continuing to multiply the decimal odds for each additional game.
Example: Adding a third leg with odds of 1.80: 3.64 x 1.80 = 6.552.
You can easily input the odds from the sportsbook and number of legs into our parlay calculator to streamline this process, allowing you to instantly see potential payouts.
Pros and Cons of Point Spread Parlays
Point spread parlays offer unique opportunities and challenges. Understanding the advantages and disadvantages can help you decide if they’re the right choice for your betting strategy.
Pros:
- Higher Payout Potential: Parlaying multiple bets allows for exponential payout growth compared to individual bets.
- Smaller Initial Investment: Bettors can wager less while aiming for larger rewards.
- Strategic Betting Opportunities: Combining spreads lets you leverage insights across multiple games.
Cons:
- Higher Risk: Every leg must win, making it difficult to cash out successfully.
- Complexity: Requires deeper knowledge and analysis across multiple matchups.
- No Margin for Error: A single loss results in the entire wager losing.
Individual Spreads vs. Parlay
When deciding between individual wagers and parlays, it’s important to consider your risk tolerance and betting goals.
If you’re looking for lower risk or just want more control over your wager, betting individual spreads is probably more your speed. Plus, you’ll be able to realize profits on other wagers even if one of your spreads misses.
If you’re confident in your spread wagers and want to realize higher payouts, combining your wagers into a parlay is the way to go. Advanced bettors can also use multiple sportsbooks to hedge one or more wagers in their parlay to make money no matter the outcome.
Tips for Building Winning Point Spread Parlays
To make the most out of your spread parlays, make sure you follow these simple tips:
Research Teams and Matchups
Thorough research is the foundation of successful betting. Study team performance, recent form, injuries, and head-to-head records to identify valuable opportunities. The more informed your picks, the better your chances of building a winning parlay.
Avoid Overly Ambitious Parlays
It might be tempting to include numerous legs for a higher payout, but this significantly increases the risk. Sticking to 2-4 legs strikes a balance between manageable risk and attractive rewards, especially for beginners who are still learning the nuances of parlay betting.
Diversify Your Selections
Limiting your parlay to a single sport or league can increase risk if unexpected events occur. By spreading your selections across different games or sports, you reduce the impact of a bad result in one specific area.
Leverage Key Numbers
In sports like football, key numbers such as 3 or 7 are common winning margins. Understanding these trends helps you make smarter spread picks that align with historical outcomes, improving your parlay’s likelihood of success.
Common Point Spread Parlay Questions
Still have questions about point spread parlays? Here are answers to some of the most common queries from bettors.
What is a “push” in a point spread parlay, and how does it affect my bet?
- A push occurs when the final margin lands exactly on the spread (e.g., a -3 favorite wins by 3). In most cases, the leg with a push is removed from the parlay, and the remaining legs are recalculated.
Can I mix point spreads with other bet types in a parlay?
- Yes, most sportsbooks allow you to combine point spreads with moneyline bets, totals, or even props. This flexibility lets you build creative and strategic parlays.
What sports are best for point spread parlays?
- Football and basketball are ideal due to the popularity of spreads and the predictability of scoring margins. These sports also offer a wealth of data for analysis.
Get Point Spread Parlay Picks Today
Point spread parlays offer excitement, strategy, and the potential for big payouts. With this guide, you’re equipped to understand, calculate, and create smarter parlay bets. Ready to take the next step?
Visit our Point Spread Picks page to access expert insights from our high-quality handicappers. Whether you’re looking for today’s best matchups or long-term strategies, we’ve got you covered. Start building winning parlays today!