Parlay bets sway a lot of sports fans thanks to their huge payouts. From casual gamblers to seasoned vets, getting an opportunity to win big on a single night is enticing. Knowing how much a parlay pays out allows people to make smarter decisions based on numbers.
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What Does a $500 4-Team Parlay Pay?
With pick’em odds for each contest, a 4-team parlay will pay out between 10 to 1 and 13 to 1. That means winners should expect $5000 to $6500 on a $500 4-team parlay. Those betting on all underdogs could see payouts climb into the five digits.
Comparing Las Vegas Payout Odds vs. Real Odds
For a 4-team parlay, Las Vegas payouts will range from about 10/1 to 13/1, depending on the vig. This is when considering teams that have pick’em odds (money line at or around -110). Since the picks are viewed as 50/50 predictions, the actual odds of hitting four games correctly are 16/1.
Is a 4-Team Parlay Smart?
Responsible sports betting is always a hot topic, and parlay bets are some of the most popular forms of sports wagers. Whether you call them accumulators or round robins, parlays can be both rewarding and frustrating since it’s all about that long shot winning big to earn a big payout. Do parlay bets pay off for gamblers? Let’s take a closer look at four-team parlays in sports betting.
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It’s important to know how much money you could potentially win if your predictions hit all four games right. In football, putting a parlay together usually involves spread betting. The minimum amount required to win a four-team parlay ticket is six units, and the largest possible payout is 60 units. If you bet $500 on each of your predictions, that’s $5000 total into the pot.
When assuming there is a slight chance of a tie ruining a parlay bet, most parlay gamblers have about a 5%-6% chance of being successful. This means long term, winning money solely on 4-team parlays involves a great amount of luck.
Even with an above-average success rate, there isn’t much profit for betting on sports and it would be hard to make a living by betting on parlays of this size. However, if you’re just betting for fun or looking to win some extra cash, these types of wagers can be very exciting since the potential payout is so high and there’s always that chance it could pay off big time.
Is a 3-team Parlay Bet Smarter Than a 4-Team Parlay Bet?
Statistically speaking, most people will find long-term success betting on smaller parlays instead of trying to hit it big. Yes, there’s always the opportunity to win a lot of money with more and more teams added to the parlay, but there could be a lot of dry spells as well. Sportsbooks do what they can to protect themselves, which is why they don’t payout the same compared to actual odds with larger parlays.
Typical 4-team parlays will only add additional variables to the mix that can get in the head of even the savviest gamblers. Start with 3-team parlays and see how it goes. If there seems to be a consistent method, a lot of people will stick with three teams until they are no longer profitable. Others might try to dip their toes into 4-team parlays and see if they can win more money consistently.
Anything bigger than four teams in a parlay is a true long shot opportunity. Some have gone for 12-team parlays, only for it to rarely prove successful. Stick yo smaller parlays for any type of consistency.