Football Bets and Parlays

There are many types of football bets with the most popular being the straight bet whereby one typically wagers $110 to win $100. There are also parlay football bets.

Parlays are now being bet by even largest syndicates. A company such as Bet Mill will feature the following parlay odds: A two team parlay will pay $13 for every $5 wagered (the odds will show as 13/5). Bet $50 to win $130. Two team parlays are the easiest to win; both chosen teams must win.

Three team football bet parlays are obviously much more difficult and thus the reason the payout odds increase; but the risk continues to be nominal. Since Bet Mill's payout odds are 6/1, a wager of $20 means a $120 win!

The payout odds keep increasing dramatically as the chances decrease. Here are the Bet Mill payout odds:

Parlay Odds
			Max Payout
2 Teams	Pay	13/5
3 Teams	Pay	6/1	15/1
4 Teams	Pay	11/1	20/1
5 Teams	Pay	21/1	30/1
6 Teams	Pay	31/1	50/1
7 Teams	Pay	51/1	75/1
8 Teams	Pay	71/1	100/1
9 Teams	Pay	85/1	120/1
10 Teams	Pay	130/1	150/1

When a money line is used in the parlay it can alter the payout amount in either direction depending on the line. The absolute maximum parlay payoffs in this case are the following:

3 teams	Pay	15:1
4 Teams	Pay	20:1
5 Teams	Pay	30:1
6 Teams	Pay	50:1
7 Teams	Pay	75:1
8 Teams	Pay	100:1

Money line parlays occur when the lines selected differ from -110. The formula is: Risk multiplied by factor 1, multiplied by factor2 and then subtract the risk amount.

Below is the list of factors to calculate:
Below is the list of factors to calculate: If one or more of the selections is an underdog simply add 1 to the line to get the line factor, i.e., +155 would be 2.55.

Line Factor		Line Factor		Line Factor		Line Factor
101	1.99	129	1.775	157	1.636	185	1.54
103	1.97	131	1.763	159	1.628	187	1.534
105	1.952	133	1.751	161	1.621	189	1.529
107	1.934	135	1.74	163	1.613	195	1.512
109	1.917	137	1.729	165	1.606	205	1.487
111	1.9	139	1.719	167	1.598	215	1.465
113	1.884	141	1.709	169	1.591	225	1.444
115	1.865	143	1.699	171	1.584	235	1.425
117	1.854	145	1.689	173	1.578	245	1.408
119	1.84	147	1.68	175	1.571	255	1.392
121	1.826	149	1.671	177	1.564	265	1.377
123	1.813	151	1.662	179	1.558	275	1.363
125	1.8	153	1.653	181	1.552	285	1.35
127	1.787	155	1.645	183	1.546	295	1.338
						305	1.327