A parlay, also known as a combo bet, is a "selection of two or more wagering outcomes". All of the teams (fighters) wagered on must win for the play to be active. If any one team (fighters) loses, the entire wager is lost altogether. You may combine different sports, pointspreads and moneylines in win/loss and/or totals betting. If there is no action or cancellation, the parlay reverts to the next lowest number. For example, a 3-team parlay becomes a 2-team parlay. In the event of a tie in a 2-team parlay, the play becomes a straight bet.
In fixed odds bets, the odds are fixed at standard odds
-110 or 10% juice ($110 bet winning $100). The fixed odds are set according
to the chart below and only apply to football and basketball pointspreads
or totals. All the picks must have standard odds. If any of the picks
involve other sports, Moneylines, or off-standard lines (-115, etc.),
then the parlay becomes subject to True Odds.
To calculate the true odds payoff, simply convert the moneyline or odds to a multiplier (by going to the calculation table), and then multiply your bet by the product of the multipliers. For example, if you make a $10 parlay on two picks with true odds of -140 converts to 1.71 and odds of +120 converts to 2.20. Therefore, your payout is as follows: 10 x 1.71 x 2.20 = $37.62. Note that this payout includes your original wager, so the net win in this example would be $27.62.
An easier method is to use the Zewkey Parlay Calculator.
Parlay Tips & Strategies
One of the most popular MMA gambling wagers is a parlay. Parlays offer the player a chance to win a lot by risking just a little. That type of wager will always be popular.
Even though many MMA betting players like to bet parlays, most are not very successful in the long run. There are several things we can do to improve our chances of winning when betting parlays, and that is what we will discuss here. Sportsbooks love parlays because they are difficult for the average UFC bettor to hit and the sportsbooks have a high win percentage. There are some things you can do though to reduce this percentage. You might want to key one fighter in multiple parlays. This is one way to reduce the edge the sportsbooks hold because you are now putting your best choice in multiple parlays so that when your key fighter wins you have a much better chance of hitting your parlays. Here's an example using some fighters from UFC 68:
Key fighter- Matt Hughes -500
Matt Hughes -500
Bet: $100 to win $308
Matt Hughes -500
Bet $100 to win $500
Another parlay strategy that some UFC Bettors consider is to put together two probable winners in a three team parlay. Many UFC players that bet parlays on a regular basis will look at the three fighter parlay before the four fighter, 5 fighter, etc. It gets very difficult to hit those multiple fighter parlays when they get above 3 guys. Once in a great while you will see a 4 fighter parlay come in but think about this, when was the last time you went 5-0 on a one event? When was the last time you went 4-0? It is not easy is it? I know you can probably think of a few times you have picked three straight though. That is why many people keep their parlays at 3 fighters since the payoff is still good at 6-1. Example:
Matt Hughes -500
Bet $50 to win $357
If you are going to be betting parlays on a regular basis
you can consider some of these tips. There is little doubt that parlays
are a huge draw for sportsbooks and for MMA bettors. They offer a lot
and really don't cost very much to play. The problem as we pointed out
is that they are so difficult to hit. That is why I recommend keeping
your parlays to 2 or 3 fighters. I am a fan of the three man parlay because
I think that getting 6-1 odds is a better bet than the 2.6 -1 you get
with the 2 man parlay. Going any higher than 3 is just asking for at least
one of the guys in your parlay to lose. Hopefully when you bet your next
parlay you will keep some of these things in mind and be a winner.