You actually are laying just UNDER -110 on a 3-teamer.
1) Bet 100 TO MAKE 600, pays $700 back on a 3-teamer.
2) 3 consecutive -110 bets, starting with $100 only gets you $696 back.
Of course, you won't get reduced vig, or the best numbers (typically) in your 3-team parlays.
It is interesting that so many people call the 3-team parlay a sucker bet with "bad odds", and I'd say 99% of those are incapable, or just too lazy to ever have calculated what the actual implied vig is on each leg of the bet.
It is the 4 team parlay paying 10-1 that is the biggest lollypop (SUCKER!!) out there. Followed closely by the 5 teamer paying 20-1. How many licks are there in a typical lollypop Mr. Owl? Let's see, 1...2....3! NOOOOO FOUR OR MORE when it comes to parlays off the board.
Many say they like playing these "for fun". Personally, for me it's fun to win, now lose. And it isn't much fun getting paid $11 back on a random 1/16 bet. And it's not much fun laying -175 (7 to make 4) on that fourth leg, and letting the books cheat me. And it's fun avoiding bets that make Keno look like a solid investment by comparison.
In the land of the blind, the 1 eyed man is King.
:monsters-