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The following is an example of a traditional Las Vegas Parlay Card at William Hill Sports Book, which shows the typical payouts for an up to 10 team parlay bet based on -1.10 prices (amount won is. In the Winter of the 2017 NFL season, one parlay bettor got the better of William Hill Sportsbook in Las Vegas with an astounding 12-team accumulator that would come through. The bettor placed the $95 dollar parlay on Friday night, with the bet slip loaded with college football and NFL point spreads.
4 members have voted
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In case you can't see the image, the bet was for $300 and it needed a +195 and four -110 legs to win. It did win and paid a win of $9435 (to collect $9735). He said that this parlay calculator at Vegas Insider came up with a win of $11,455.73. I put in the numbers and agree. My own parlay calculator comes up with the same number.
The formula to arrive at that number is $300 * (2.95 * (21/11)4 - 1) = $11,755.73.
So, why did the Wynn pay $9435 only?
After dividing the Wynn win *ahem* by 2.95, we get $3,300. Dividing that by the bet amount we get 11. I then checked our own sportsbook survey and see Wynn pays 10 to 1 on a four-team parlay (or 11 for one).
So what is clearly going on here is they are going to the parlay table for the four -110 bets.
I previously thought and have said many times that as long as there was one leg in a parlay that wasn't -110, then it forced the type of calculation I did above and is seen at both the calculators linked to.
So, I was evidently wrong.
I guess my question is does this come as a surprise to anybody? Does every book go to the parlay table for as many -110 legs are in the parlay and use the conventional formula for the rest of it? Is what I'm writing about common knowledge?
I welcome all thoughts.
The question for the poll is did you know that parlays are calculated this way?
The payout made was obviously to the Wynns *big* advantage. The edge on a -110 game is 1/22 = 4.5%, but using the 10 to 1 pay table the edge on each -110 game becomes 1 - (11/16)^.25 = 8.9%. Which is why standard parlays are horrible bets, except 2 and 3 teamers.
So, why did the Wynn pay $9735 only?
William Hill would pay that same amount.(Nevada - mobile app)
I noticed this back in summer of 2016 and figured all the parlay online calculators were not using actual books calculating methods, whatever that is.
A great question to ask the NGC or look up the written rules (I doubt any exist).
Of course, they (NGC, imo) are 100% in agreement with the sportsbooks here in Nevada.
I previously thought and have said many times that as long as there was one leg in a parlay that wasn't -110, then it forced the type of calculation I did above and is seen at both the calculators linked to.
So, I was evidently wrong.
The books can say anything they want (in how they figure a winning parlay payoff)
regardless if it is true or not.
I am assuming that exact information would have been available to the bettor before he finalized the bet?
no, in Nevada, I have never seen that.after one gives the ticket writer your money, then you get the ticket
Vegas Parlay Calculator
and only right then (do not walk away until you LOVE the ticket and all on it is cool to you)
can you say you disagree with something and instantly get on their sh*t list.
next in line
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I've been warning players against going off parlay table odds for years, except for the 3-teamer, if it pays 6 to 1. I'll now have to amend that advice to not even mixing in any number of -110 legs except one or three. Just trying to do my job at dispensing gambling advice.
I doubt Gaming has anything in writing about how parlay odds are to be calculated.
Vegas Sportsbook Parlay Payouts
exactly.That leads to the obvious question.
Why would the NGC have anything in writing on exactly how the parlays are to be paid?
you MUST be happy with your given ticket once they give it to you or 'too bad, so sad'
Best Vegas Parlay Payouts
Administrator
exactly.
That leads to the obvious question.
Why would the NGC have anything in writing on exactly how the parlays are to be paid?
you MUST be happy with your given ticket once they give it to you or 'too bad, so sad'
I agree. There is usually a sign saying to check your tickets before leaving, which I respect. A good writer will often the writer will verbally recommend it. I am not even saying the Wynn is in the wrong here. I just want to know truthful information.
A parlay calculator is an essential tool for gamblers that determines the payouts of a parlay bet. What is a parlay? This is a bet that is placed on multiple events (two or more) resulting in higher odds. You can bet on as many as one hundred events on some casinos leading to massive odds. However, if you lost one bet, the entire bet is lost. Hence, the bigger the parlay, the higher the odds but, the bigger the risk.
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How Do Betting Odds Calculators Work?
It is simple to use these calculators. You simply key in the amount of money you want to bet and the money line odds of each of the events. The calculator will, in turn, deduce the payout of the parlay. There is always a Reset option to enable you to conveniently clear the table and place a new parlay. You can do this severally until you create the best combination that has a high probability of winning.
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Sports bettors who have to combine several bets in order to get a sizeable winning often utilize the betting odds calculator. It can also assist you to predict your winnings in case there is a cancellation of postponement of one of your events. This is the best way of gambling while informed.
Parlay bets are popular in the entire world. They give you the chance of betting on multiple events and standing a chance of getting massive odds. You should always use a calculator to make it convenient to make these bets. This is certainly the most useful tool for any parlay bettor.