Parlay Formula?

King83 · Aug 4, 2008

Whats the formula for setting up parlays?

BadCo · Aug 4, 2008

You mean calculating parlays?

I know the formula but hell just use this.

http://www.freespreadwinners.com/Calculator/ParlayCalculator.asp

King83 · Aug 4, 2008

BadCo said:
You mean calculating parlays?

I know the formula but hell just use this.

http://www.freespreadwinners.com/Calculator/ParlayCalculator.asp

cool tool...but was still wanting to know the formula.

BadCo · Aug 4, 2008

King83 said:
cool tool...but was still wanting to know the formula.

I'm to tired to type it all out if no one responds will be back 2mrw.

Real quick though -110 to -110 pays 264

plug 100 into calculator then divide by 110 =.91

191 times 191=264.4628099

Sure that doesn't help but might.

Doug · Aug 4, 2008

do the math on each leg, continue to next leg with original stake and winnings. Caculators work fine.

Doug · Aug 4, 2008

King83 said:
cool tool...but was still wanting to know the formula.

I'll show the step by step calculation ( I'm in a good mood). Throw me 3 ML's.... like +137,-160,+245. Whatever you want. I'll answer, after about an hour, need to do something now. I'm not going to calculate it beyond that.

Doug · Aug 4, 2008

I've got time now, I'll do it for you, if desired, but I'm not doing it for the Hell of it.

Illini · Aug 5, 2008

There isn't really a formula. If you understand what a parlay actually is, (many people don't) then you will be able to figure it out.

A parlay is just a series of all-in bets. For example, if you have a 3 teamer for $100 at +120, -110, and +160, it would look like this.

100 bet on +120 dog.......pays 120 so you have 220 for the next bet.

220 bet on -110 fav........pays 200 so you have 420 for the next bet.

420 bet on +160 dog.......pays 672. So now you have 1092 and the parlay is over. 100 of it is your stake, so you made 992.

This parlay is +992.

Doug · Aug 5, 2008

Illini said:
There isn't really a formula. If you understand what a parlay actually is, (many people don't) then you will be able to figure it out.

A parlay is just a series of all-in bets. For example, if you have a 3 teamer for $100 at +120, -110, and +160, it would look like this.

100 bet on +120 dog.......pays 120 so you have 220 for the next bet.

220 bet on -110 fav........pays 200 so you have 420 for the next bet.

420 bet on +160 dog.......pays 672. So now you have 1092 and the parlay is over. 100 of it is your stake, so you made 992.

This parlay is +992.

nice explanation,Illini !

is a better math guy than me, and a good guy, there are better math guys than him, like Ganchrow, Data,Woody, but he's good enough for this simpler stuff, and better than me.

I don't feel like responding to the OP if he doesn't check back. I like Illini a lot, and freely admit he is a better math guy than me.

Illini · Aug 5, 2008

Doug said:
nice explanation,Illini !

is a better math guy than me, and a good guy, there are better math guys than him, like Ganchrow, Data,Woody, but he's good enough for this simpler stuff, and better than me.

I don't feel like responding to the OP if he doesn't check back. I like Illini a lot, and freely admit he is a better math guy than me.

Thanks, Doug. I'm not really a great math guy by any means, just a logical thinker.

By the way, many people say "parlays are always a ripoff." They say that a 3-teamer using football -110 lines is a ripoff, because the odds are 7-1, but you are only getting paid 6-1. Those people don't understand what a parlay bet actually means. When you break it down, the true odds at -110 are 5.96 to 1. You are actually getting a little bit of a bargain at 6-1.

Doug · Aug 5, 2008

or a good deal at a book that pays +650., or no vig at a book that pays +700.

Illini · Aug 5, 2008

Doug said:
or a good deal at a book that pays +650., or no vig at a book that pays +700.

I'm thinking about BetOnline for that very reason. I know they won't let us use them very long to bet juice free straight bets, but I do like 3 teamers for college football. Might not be a bad move to take the big bonus and get the parlays at 7-1. Would you do that, or just take the reduced juice? I figure with Matchbook in my arsenal, it may be more advantageous to forfeit the reduced juice at Betonline.

Doug · Aug 5, 2008

Illini said:
I'm thinking about BetOnline for that very reason. I know they won't let us use them very long to bet juice free straight bets, but I do like 3 teamers for college football. Might not be a bad move to take the big bonus and get the parlays at 7-1. Would you do that, or just take the reduced juice? I figure with Matchbook in my arsenal, it may be more advantageous to forfeit the reduced juice at Betonline.

Take the reduced juice,IMO. They are likely to FUCK with you, if they figure out what you are doing, I think they would, if you win that way, esp. since the strategy is public.

It also depends if you can switch plans.

Illini · Aug 5, 2008

Doug said:
Take the reduced juice,IMO. They are likely to FUCK with you, if they figure out what you are doing, I think they would, if you win that way, esp. since the strategy is public.

It also depends if you can switch plans.

You can't switch plans, but I doubt they would screw me over. I like to bet 3-teamers on CFB saturdays, so they will be legitimate parlay bets, and not using 3-teamers 4 ways like we talked about.

Illini · Aug 5, 2008

With other reduced juice options out there like Matchbook and Vegas Vic, I'm thinking the big bonus and +700 may be the way to go with this book.

Doug · Aug 5, 2008

Illini said:
You can't switch plans, but I doubt they would screw me over. I like to bet 3-teamers on CFB saturdays, so they will be legitimate parlay bets, and not using 3-teamers 4 ways like we talked about.

I'd get tired of your action pretty quick, if I was smart enough to see you were betting me like that, I see your approach, being on a forum such as this one, so I don't like your longevity at it.

Doug · Aug 5, 2008

Illini said:
With other reduced juice options out there like Matchbook and Vegas Vic, I'm thinking the big bonus and +700 may be the way to go with this book.

+700 on 3 teams doesn't work (for the book). You can't succeed long-term with it, IMO. It won't work.

Doug · Aug 5, 2008

It's like counting cards at BJ ( betting 3-teamers at 7-1), you will wear out your Welcome.

bellyputter · Aug 5, 2008

Illini said:
Thanks, Doug. I'm not really a great math guy by any means, just a logical thinker.

By the way, many people say "parlays are always a ripoff." They say that a 3-teamer using football -110 lines is a ripoff, because the odds are 7-1, but you are only getting paid 6-1. Those people don't understand what a parlay bet actually means. When you break it down, the true odds at -110 are 5.96 to 1. You are actually getting a little bit of a bargain at 6-1.

The house edge on a fixed odds 3-team parlay(-110) paying 6-1 is 12.5%. The house isn't ever going to give you anything!

macb · Aug 5, 2008

There isn't really a formula. If you understand what a parlay actually is, (many people don't) then you will be able to figure it out.

A parlay is just a series of all-in bets. For example, if you have a 3 teamer for $100 at +120, -110, and +160, it would look like this.

100 bet on +120 dog.......pays 120 so you have 220 for the next bet.

220 bet on -110 fav........pays 200 so you have 420 for the next bet.

420 bet on +160 dog.......pays 672. So now you have 1092 and the parlay is over. 100 of it is your stake, so you made 992.

This parlay is +992.

here's the formula for the example above: (add 1 to all factors, and multiply)
2.2x 1.91x 2.6 = 10.92 (then always subtract 1) = 9.92

another example -125 fav with +260 dog

100/125= .8

1.8 x 3.6 = 6.48-1 = 5.48 (2 teamer)