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MLB Parlay Betting Explained
With 30 teams playing 162 regular season games, you’re never short of MLB parlay betting picks. A parlay is the bet you make when you wager on the outcome of two or more games in single bet. Their advantage is that the odds increase as you add games, or legs as they’re called. It’s a riskier bet, but one with the chance of much higher payouts.
MLB parlay bets are made up of two or more bets combined into one. Each individual bet is considered a ‘leg’ of the parlay. The more legs you have in your parlay, the more you can win because each bet’s odds are multiplied together.
Legs can include picking the winner, the over/under, or the run line. There may be other options as well depending on the sportsbook you are betting with.
Bet on each leg individually and your chances of winning are higher, but you win less. Combining them all into one bet – a parlay – will mean your odds increase, and although the bet is harder to win, the pay-out is greater. However, if you lose one leg you lose the wager. So, while the reward is greater with MLB parlay bets online, so is the risk.
Let’s say you decided to make a three-leg MLB parlay bet by picking the winners of three games. You take the Miami Marlins to beat the Toronto Blue Jays (-122), the New York Yankees to beat the Tampa Bay Rays (-148), and the Philadelphia Phillies to beat the Washington Nationals (-148).
If all three win, a $100 wager would result in a pay-out of $410.94 (use our bet calculator to see how much you would win using a different stake).
An MLB parlay betting strategy where you pick favorites to win in each leg will result in less of a pay-out then if you had bet on an underdog or two. But had you bet on each game individually in this example, you would have had to risk $100 on each game to win a total of $217.11. That’s a $193.83 difference in pay-out.
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Parlay bets are a great way to increase your odds and win more money with a lower wager. So, if you are looking to win more money without having to bet more, than the answer to the question is yes, because MLB parlay bets can provide more value.
Parlay bets are just like any other bet, they are smart if you do your homework and make an informed decision. That way there is a greater chance that you are going to win your bet.
If you want to calculate the odds for your MLB parlay bets it’s always easiest to use our bet calculator. However, if you want to do the math:
Convert the betting line to decimal odds
Take those numbers and multiply them together
Convert that number back to American odds and you will have your parlay odds
Yes, although it depends on the sportsbook. Many will allow bettors to use MLB prop bets in MLB parlay bets online, but some sportsbooks may restrict it to just certain prop bets.
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