Parlay Payout Question

Hotpizza · Oct 25, 2013

I know the answers to these but want to confirm that I am not losing my marbles.

1.

4 Team Parlay

Team A -4.5 -110
Team B +6.5 -110
Team C +1.5 -110
Team D -8.5 -110

Risk 20 to win ?

2.

4 Team Parlay

Team A -4.5 -110
Team B +7 -130
Team C +2 -120
Team D -8.5 -110

Risk 20 to win ?

SharkTank · Oct 25, 2013

just off the top of my head...

1. 20 to win 200

2. 20 to win 180ish

HarryCaray · Oct 26, 2013

#1 20 to win 225.67
#2 20 to win 216.43

Hotpizza · Oct 26, 2013

#1

Mystery Book pays:

Team A -4.5 -110
Team B +6.5 -110
Team C +1.5 -110
Team D -8.5 -110

Risking 20 USD To Win 200 USD

#2

Mystery Book pays:

Team A -4.5 -110
Team B +7 -130
Team C +2 -120
Team D -8.5 -110

Risking 20 USD To Win 216 USD

Try your book on these and see what your payouts are.

HarryCaray · Oct 26, 2013

Yeah you're right on the 245 for the first one, that was a typo by me

HarryCaray · Oct 26, 2013

That's hilarious that mystery book pays more for the one with more juice...

skoda · Oct 26, 2013

HarryCaray said:
That's hilarious that mystery book pays more for the one with more juice...

either way tak $$$ an go away an never come back!

Hotpizza · Oct 26, 2013

Just wondering is it typical for books to have wrong/incorrect parlay calculations? Did anyone check their books to see if the right calculations came up?

carlosdanger+ · Oct 26, 2013

Somebody clicked the wrong box on a profile. Im guessing this book uses DGS? Its calculating as ML instead of Spread + vig.

Murphy8276 · Oct 26, 2013

carlosdanger said:
Somebody clicked the wrong box on a profile. Im guessing this book uses DGS? Its calculating as ML instead of Spread + vig.

this has to be the most accurate answer.

-murph

Doug · Oct 26, 2013

some books will pay four -110 lines at +1000 but calculate it mathematically correct if lines are not -110

Akillies · Oct 26, 2013

if you want it to pay true odds, throw in a huge moneyline favorite

Doug · Oct 26, 2013

Akillies said:
if you want it to pay true odds, throw in a huge moneyline favorite

it won't work if they pay +260, +600, +1000 for 2-3-4 -110 lines. The +260 and +600 are very close to being true , but if you have 4 -110 lines at a book that pays +1000 for them and add a 5th ML favorite....it will calculate as +1000 and whatever the other ML is.

Good books don't rip you off on 4 teamers, I don't like Bookmaker but they pay this right.

It gets worse as you beyond 4 teams at SHITBOOKS.

Doug · Oct 26, 2013

Hotpizza said:
Just wondering is it typical for books to have wrong/incorrect parlay calculations? Did anyone check their books to see if the right calculations came up?

lots of times they are short, some books even pay more on 2-3 teamers than math would dictate.

I can understand a book starting to short the mathematical odds when you start getting up to 8-9-10 teams to limit liability, but not at 4 teams.

Remember online books have been around maybe 20 years and the vast majority no longer exist.

Hotpizza · Oct 26, 2013

Thanks for the replies. What should the correct payouts be then, the ones from the parlay calculator or the ones from the mystery book?

HarryCaray · Oct 27, 2013

Hotpizza said:
Thanks for the replies. What should the correct payouts be then, the ones from the parlay calculator or the ones from the mystery book?

The parlay calculator is mathematically correct...

carlosdanger+ · Oct 27, 2013

HarryCaray said:
The parlay calculator is mathematically correct...

But not correct on table odds which is what spread parlays payouts are based on so technically every time he bets a parlay like that he is betting at a bad number and may at some point be treated as such.

jensinc · Oct 27, 2013

Standard parlay odds are given if all selections in the parlay hold a price of -110. If the prices vary in the parlay, odds will be calculated, however the odds for the -110 will remain as standard. Therefore, the system shows a payout of $176 for the second parlay.

The true parlay odds on a 2 team parlay at -110 (standard vigorish) is +264 roughly right around 13:5 so most bookmakers do offer fair odds on 2 and 3 team parlays.

carlosdanger+ · Oct 28, 2013

I have seen the same situation come up where if the player bought a half point on every pick the parlay would pay more than if he hadn't. Was the exact same profile setting, and just a case of someone not checking the right box.

Hotpizza · Oct 29, 2013

I am a fair and honest player, I don't look to take advantage of obvious errors. I am the type that will send in the error to the book so they can fix it.

My question is this, is the book taking advantage of me, or do I have some kind of advantage with what was presented.

If people want me to test payouts on 2 teams, 3 teams I can do that and post results. I just don't want any book coming to me and saying I was attempting to take advantage of them. Their error or not.