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The Half-Point parlay card is the most popular type of card in Las Vegas, and will offer payoffs ranging from 6.1 for 1 on a 3-selection parlay to 2,500for 1 on a 12-selection parlay. All point spreads use half points, eliminating the possibility of a tie. This card will have no ties, as ½ points are used. Minimum wager $2. Maximum wager subject to Delaware Lottery approval. Printed point spreads at time of wager’s acceptance are used in determining winners and losers. The card is not valid proof of a.

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Before you can learn how to make parlay cards, you need to have a good understanding of what a parlay is and how it works. I cover parlay bets, especially football parlays, in detail in the beginning of this post.

I offer advice about how to actually make the parlay cards later in this post, too.

(By the way, parlays are also often called accumulator or combination bets, but parlay is the most common term used in American sports betting.)

What Is a Parlay Card and How Do Parlay Bets Work?

A parlay bet is a single bet on multiple outcomes. It’s basically a combination of bets, and the parlay only wins if all the outcomes win. Those bets are listed on a parlay card.

Having multiple bets in play at one time provides you with a bigger payout, but you also have a smaller probability of winning.

I like to think of things in terms of casino bets, so I think of a parlay as being like a bet that you’ll win black twice in a row on the roulette table. If you win, you might get paid off at 3 to 1 instead of the usual even money action. But your probability of winning 2 bets in a row is obviously much lower.

But parlays are usually thought of in terms of sports. And most sports parlays consist of 2 to 10 different bets on the same card.

For example, you might choose 4 football teams to win their games this Sunday:

1. Dallas Cowboys
2. New Orleans Saints
3. New England Patriots
4. Tennessee Titans

You COULD just place a single bet on each of those games, and that would be fun.

But if you place a bet on all 4 of them on a parlay, you’ll win more than you would even if you won the 4 individual bets.

And you only win the parlay bet if you’re right about all 4 teams. If even one team on your parlay loses, you’ve lost the bet.

You could also face a situation where one of the games tie. That’s called a “push.” If that happens, you don’t lose your parlay, but you’re only paid off as if you’d placed a smaller parlay—it’s as if that game didn’t exist on your card.

In the example above, where you’re betting on 4 games at the same time, if one of the games resulted in a tie, you’d get paid off as if you’d bet on a 3-game parlay. It’s a smaller payoff, but that’s better than a loss.

Parlay Odds, Probability, and Payouts

It should go without saying that the more games on the parlay card, the lower your odds of winning are. That’s because the odds of multiple things happening get multiplied by each other.

Let’s say that each of the teams on your 4-game parlay above have a 50% probability of winning. The probability that all 4 of them will win is:

50% X 50% X 50% X 50%, or 6.25%. That’s the same thing as 16 to 1 odds.

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A 4-team parlay bet usually pays off at 13 to 1. If you bet $100 on that parlay and won, you’d win $1300.

The payouts are correspondingly higher, too.

Notice the discrepancy between the odds on the payout and the odds of winning. That difference is the vigorish, or “vig,” which is where the sports book makes its money.

Here’s how that amounts to a profit for the book:

• Take 17 parlays with those odds. The book collects $100 X 17 bets, or $1700.
• Since the odds are 16 to 1, they only expect to pay off a player once, for $1300.
• The other $400 is profit. Divide that $400 by 17 bets, and the book makes an average profit of $23.52.

That’s not a bad profit margin.

In most gambling businesses, the company makes its money by offering payout odds that are lower than the odds of winning. If you think of the odds as being similar to a fraction, you’ll understand why 1 in 16 is smaller than 1 in 13, even though 13 is smaller than 16. (It’s the same thing as saying 1/14 or 1/17.)

A 10-team parlay can make for a huge payout, by the way. A payout of 825 to 1 wouldn’t be unusual for such a bet, but the probability of winning that bet are bigger than that—1023 to 1.

Bet $100 on a 10-parlay, and you’re looking at winnings of $82,500.
This is a profitable parlay for the sportsbook, too, if you look at it statistically:

The book makes a smaller percentage profit, but on that kind of action, they can afford a smaller percentage profit.

If you think of it in terms of “the house edge,” like you would a casino game, you’re talking about a house edge that’s still 19.43%.

If you’re good at picking winners, you could theoretically make a profitable bet on a parlay. If, for example, you’re right 55% of the time instead of 50% of the time, your probability of winning the 4-game parlay skyrockets:

55% X 55% X 55% X 55% is 9.15%, or about 11 to 1.

With a 13 to 1 payout, it’s easy to see how a bettor comes out ahead, statistically.

You place 12 bets, and you win 1 of them. You have $1200 invested, but on the one bet you win, you win $1300. That’s a profit of $100 over 12 bets, or $8.33 per bet.

Getting an edge of 8.33% when you’re gambling is huge, by the way. You can’t get an edge like that even if you’re counting cards professionally (unless you’re also doing things like shuffle tracking, edge sorting, and/or hole carding, but that’s an entirely different blog post.)

What Kind of Parlay Cards Can You Make?

So far, the only examples I’ve used have been for bets on who’s going to win a football game. Parlay cards aren’t limited to the most basic bets, though. You can also place any of the following parlays at various sportsbooks:

1. Moneyline
2. Over/under
3. Pleasers
4. Point spread
5. Teasers

A moneyline bet is one that doesn’t account for the point spread. You bet on who’s going to win, regardless of the strength of the teams. The payouts for bets on the favorite in a moneyline bet are smaller—sometimes MUCH smaller.

But if you can find an underdog or 2 that are going to pull off an upset, you can get a big payout on a parlay made up of moneyline bets.

An over/under bet is a bet on the total points scored in a game. The over/under is set by the handicappers at the sportsbooks, who project the final scores of each game. To get the total, you just add the scores for both teams together.

If the handicappers expect a high scoring game, the over/under will be a higher number than if they expect a low scoring game. Theoretically, the over/under number is set in such a way to give you a 50/50 probability of winning.

Combining multiple bets on the over/under can be a fun way to place a parlay bet.

A pleaser is a point spread bet where you’re given the opportunity to move the point spread to make it more likely that the book will win. You get a higher payout if you win, though.

A point spread bet is a bet on who’s going to win the game, but the strength of the teams are accounted for by giving the underdog points. This is the most common way to place a football bet, and if you’re making a single wager, you get an even money payout.

The point spread is set (theoretically) so that you get a 50/50 probability of winning.

A teaser is like a pleaser, only instead of moving the point spread to favor the book, you get to move the point spread to favor you. You get a lower payout if you win, though.

Teasers and pleasers are also available for over/under bets.

How to Make and Print Your Own Parlay Cards

You can find various websites where you can create your own parlay cards and print them. It would be best to print them on cardstock if you go this route.

Some of these sites even offer you parlay cards that already have all the numbers on them, but you can also choose to create your own numbers with their software.

ParlayCardsNow.com is one site which offers either option. You just input how you want the header to read, the name and date you want printed on the card, and your organization’s logo.

Then you have multiple lines where you can input the favorite and the underdog for each game in the parlay. You can also include the line (the point spread) and the over/under. Finally, you would include a section for the rules of the parlay and the payouts for the winners.

The parlay cards come out as PDF’s when you use the software on this site to create your parlay cards. They suggest that you uncheck the box that reads “fit to printable area,” as different printers have different parameters.

For their standard cards, this site uses Vegas odds, and the payoffs are as follows:

Of course, websites like this are in business to make money. They charge fees to access these cards, which can be bought on a weekly, 4-week, or season basis for $20, $60, or $140, respectively.

Another option would be to just find someone who has a little knowledge of how to create printable forms in Excel and have them design printable parlay cards for you. You’d probably need to give them an example to work from, but it wouldn’t be hard for them to create something you could use and re-use.

You’d be responsible for finding the point spreads for the games on the parlay card, though. This might be more trouble than you want to go to, but if you’re doing a lot of business taking action on parlays—maybe you’re getting your own bookmaking operation going—it’s probably worth the investment.

Conclusion

1 2 Point Parlay Delaware

A parlay bet is one of the most entertaining bets a sports bettor can make, so if you’re running a bookmaking operation—even on a small basis—it’s probably worth offering these. It’s a combination bet that only pays off if the bettors gets all the bets in the combination right.

If you’re an individual sports bettor, you don’t have to worry about printing your parlay cards. The bookie you’re doing business with should be able to provide you with them. The trick is to beat the odds and win the payout.

The easiest way to make parlay cards is to use a subscription-based site that offers such functionality. Failing that, you just need to find a spreadsheet guru who can create fillable forms for you to use.

Parlays are the Frankenstein’s monster of sports betting. They are wagers that consist of other bets glued together with one another.

They are also a high-risk, high-reward opportunity for the daredevil sports bettor. If you are a Colorado resident who feels like kicking things up a notch, make sure you read this guide to parlay betting first.

How parlay betting works

The first thing to understand about parlays is that they consist of multiple choices. Where other types of sports bets involve your choice of a single variable, parlays require players to predict outcomes on several different bets.

Each selection in a parlay is known as a leg. These bets can all be the same type of wager, or they can be varied. The exact composition of each parlay is entirely up to the bettor.

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Why parlays are so risky (and well-paid)

The escalated source of risk in parlay betting is the fact that a bettor must be completely correct in his or her selections to get paid. Even one mistake causes the entire wager to be lost.

Naturally, as you increase the number of legs involved in a parlay, the chance of an incorrect prediction goes up. So, sportsbooks offer increasing payouts to compensate for the risk.

In fact, parlays with many legs are capable of producing some incredible wins for you. For instance, a successful 20-leg parlay in 2019 allowed a Mississippi bettor to turn a $25 wager into more than $104,000.

Of course, these stories drive more people to give parlay betting a try. However, it’s important to realize that successful parlays make the news because they are so unusual.

In a sense, these outsized payouts are not unlike lottery winnings. A bettor who successfully predicts a string of unlikely events has beaten very long odds, indeed.

Sportsbooks are, of course, more than happy to allow you to take such a risk. Truthfully, if the money you bet on parlays does not affect your lifestyle or living conditions, then they can be a fun diversion for a sports bettor seeking to get the blood pumping.

Parlay betting examples

Building a parlay is exceptionally easy, particularly on an online sportsbook. For mobile app or laptop users, they will usually need only to select the bets they want in their parlay and click a button on their bet slip to set things up.

In the following examples, the wagers we’re using are actual bets offered on DraftKings Sportsbook.

2-Leg Parlay

Bet #1: Moneyline @ +160
Bet #2: Over 230.5 points @ -113
Overall odds: +321

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The first thing to notice is that neither of these choices have particularly long odds. The moneyline is only an 8/5 underdog, and the chosen over was the favorite.

Still, their combined chances of happening are more than 3 to 1. So, even if things are looking good individually, the odds of both events occurring are much less likely, and you will get paid far less often than if you bet each element individually.

3-Leg Parlay

Bet #1: Moneyline @ -195
Bet #2: Moneyline @ -455
Bet #3: Moneyline @ -165
Overall odds: +199

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Just to ram home the point about the odds involved, we chose three moneyline favorites to populate our parlay here. To reiterate, each of these choices is expected to win their game.

However, the combined chance that all three bets will win is still almost 2 to 1 against. So, bear in mind that in parlays, there’s no such thing as a safe option.

10-Leg Parlay

Bet #1: Moneyline @ +145
Bet #2: Moneyline @ +145
Bet #3: Puck Line @ +118
Bet #4: Over 5.5 Goals @ +105
Bet #5: Moneyline @ +180
Bet #6: Moneyline @ -195
Bet #7: Moneyline @ -143
Bet #8: Moneyline @ -455
Bet #9: Over 231 points @ -112
Bet #10: Spread @ -112
Overall odds: +85379

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Here is an example of how outsized both the odds and payouts for a parlay can get. Here we have a collection of 10 wagers that are all going off at odds shorter than 2 to 1. Yet, the combined odds of all 10 events is a staggering 853.79 to 1!

One other thing to note is that, in order to construct this parlay, we had to choose from different games each time. In order for a parlay to be valid, there cannot be bets that are related to one another – for instance, you cannot bet both the moneyline and total for a single game.

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Parlay variants

Along with standard parlays, sportsbooks commonly offer one or more variants of the combination bets. These variants each have their own appeal, so judge for yourself if you want to try them out.

Teasers

One of the most common parlay variants is the teaser. The teaser is the sportsbook’s attempt to lessen some of the risk that comes with parlay betting.

Quite simply, a teaser allows the bettor to tease, or move, the odds of the bets in a parlay in his or her favor. Teasers are only permitted for point spreads and totals – it wouldn’t really make sense to try and apply a teaser to a moneyline.

You must adjust each leg of a teaser by the same number of points. So, if you move one of your selections by five points, all of your selections must move by five.

However, the movement will always be in your favor. So, a bet on a favorite might reduce the spread, but a bet on an underdog would increase it.

Of course, nothing is free in this world, and teasers come with a price. Specifically, a successful teaser will not pay out as much as a parlay with the same selections. The sportsbook charges a premium for the reduced risk.

Still, for a bettor who wants to try parlays but doesn’t like the risk profile, a teaser might be a way to slide into things. The odds will still be long, but maybe not as unacceptably so.

For more information about teasers, click here.

Pleasers

Please be aware that sportsbooks will sometimes offer a parlay variant called a pleaser. While they are less common, they are simply the mirror image of teasers.

So, the odds in a pleaser will actually be worse than a standard parlay. However, the associated payout will be higher to compensate for the increased risk.

If a parlay just isn’t risky enough for you, a pleaser might be exactly what you’re wanting. Keep an eye out for them.

Round Robins

Round robins are a fascinating variant of parlays because of their margin for error. Almost every parlay requires perfection to pay out, but round robins have no such requirement.

Round robins are bets that are combinations of parlays. If parlays were a mathematical concept, round robins would be the next power of exponent to them – the cube to parlays’ square, so to speak.

Since they are composed of multiple parlays, it is possible to win a portion of a round robin even if one (or more) of the parlays fails. The different permutations mean that parts of the round robin might not be affected by the doomed parlay.

If you’re confused, don’t worry.

Example

You have 5 bets (A, B, C, D, and E) you want to make. You could make a single 5-leg parlay that would look like this:

• ABCDE

1 2 Point Parlay Delaware Ohio 4

-or-

You could make a round robin with 10 separate 2-team parlays in it. Here’s how it would look:

• AB
• AC
• AD
• AE
• BC
• BD
• BE
• CD
• CE
• DE

Now…let’s say that you lose bet B.

In the case of the parlay, the entire bet is lost. However, in the case of the round robin, six of the parlays are still alive and well:

• AC
• AD
• AE
• CD
• CE
• DE

So, even though the loss would’ve been disastrous for the straight parlay, it’s not the end of the world on a round robin. If you want to do some parlay betting but want to have some backup options, a round robin might be the way to go.