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Gaming Today: Parlays and how to use the Parlay Calculator on Gaming Today - YouTube
Channel: Gaming Today
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I'm the Odds Coach. This is how to properly
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use a parlay calculator. Parlays are bets
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of two or more, combined together to try
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to place the odds a little more in the
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sports bettors favor.
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They're particularly common when you're
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facing strong favourites in a game and
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you're looking to get the odds down
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to something that's a little bit
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more acceptable. You find two really
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strong favourites and get the odds
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combined and lowered to something that
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pays out a reasonable amount. i'm
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going to go through an example here of
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two bets but you can have as many
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bets as the sportsbook will allow
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combined together. Bear in mind, with
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a parlay you're expecting that only one
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outcome, the winning of all of your games
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is going to pay you in return.
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Let's look at this example. This is
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some odds from Pinnacle on NBA games.
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We have the Nuggets and Raptors and the
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Kings and Hawks. As you can see from the
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odds on these games the Raptors and the
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Hawks, in their respective games are both
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really strong favourites. To win one hundred
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dollars on a Raptors game... you're going
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to have to bet $313.
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Its pretty long odds and a pretty big
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risk for the sports bettor. What we can do
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is combine these two really long
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odds into a parlay. When that happens that
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merges the odds into something that's a
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little bit more acceptable: -133 is
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a little bit more acceptable. You
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still need to have both outcomes occur.
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To really evaluate what's going on
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in this parlay you have to then
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calculate out the other side of the
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parlay. You can lose in a number of
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different ways, you can win by one
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combination: Raptors-Hawks. You can
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lose by Hawks-Nuggets, Kings-Raptors or
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Kings-Nuggets. All three of those
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outcomes
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mean that you lose your bet. What we
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want to do is use some of the
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calculators on the site to calculate out
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the exact odds of those outcomes. This
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would be a nuggets Hawks parlay that's
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going to give you +378. That's a
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20.92% implied probability.Here we
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have the outcome of the Raptors and the
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Kings giving us +369 that's a 21.32%
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implied probability that outcome will
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occur. Finally we have the
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Nuggets and the King's here +1185
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giving us a 7.08%
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likelihood that that's going to
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occur.
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When we add all those implied
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probabilities together we get 50.02%
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We've already calculated
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out -133 is an implied probability of
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57.08%. What that actually is
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telling us is the real useful information
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here. Since these two numbers add up to
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above hundred that means the sportsbooks
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edge on this particular bed is 7.10%
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That's a really high sportsbook edge.
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Typically if you're going to spread bet
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your edge is 2.44%-5% depending on
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the sports book that you're dealing with.
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Here we're seeing a bet that actually
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is strongly in the sportsbooks favor.
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You have to pay close attention
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because a lot of sportsbooks will
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change the odds based on the fact that
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you are trying to compete a
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parlay.You have to keep an eye on that
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because, once again, that sportsbook
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edge can creep up on you and lower the
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value of your overall bet. Remember to
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come to the site use the calculators.
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Pump in all of your numbers for your
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parlays but also pump in all the
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eventualities on the other side of the
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bet so that you're sure that you're
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getting the best value in your parlay.
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It may be it's a sign that you should
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stay away from that bet.
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