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A double bet pays about 2.6-to-1, and a triple parlay pays about 6-to-1. From there, the odds roughly double for every -110 bet added to the parlay. If a bettor thinks that the Green Bay Packers (+4) and Baltimore Ravens (-6) will cover their spreads on an NFL Sunday, they may use $10 and individually bet on these teams for $5 each. If both succeed, the win is around $19. However, the bettor can parlay these bets together for a win of around 2.65 times the bet. The possible outcomes would be as follows: The parlay increases risk but gains more over two individual bets. A bettor could bet on five teams covering their spread instead of just two. If one team doesn’t cover their spread, the whole bet is lost. However, if all five are covered, the payout would be high: around +2335, a win of $230.35 on a $10 bet. “Parlay [bets] are popular because everyone dreams of turning a little bit of cash into a big payday,” says Steven Petrella, deputy editor for The Action Network.
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