The more popular way to bet parlays in casinos today seems to be with a Parlay Card. These are the long narrow cards where bettors fill in the numbered circle of the side or point spread they want to include in their bet. Definition of Parlay Card Betting Choose 3-12 spreads, totals or player propositions from a preselected list. Football and basketball parlay cards are most common. ½ point parlay cards exclusively feature ½ point spreads and totals. No ties are possible. What’s a parlay card? A parlay is a single wager that links multiple wagers; to win the bet, the player must win all the wagers in the parlay. If the player loses one wager, (s)he loses the entire bet. However, if the player wins all the wagers in the parlay, (s)he wins a higher payoff than.

Both sports bettors and sportsbooks seem to love parlays. The former because parlay paydays are so attractive and the latter because parlays are so hard to win.

According to data compiled by the UNLV Center For Gaming Research from 1984 to 2019, the win percentage Nevada sportsbooks enjoyed on parlays was over 30%, compared to around 5% for all sports bets combined.

Unless Michigan sports bettors prove infinitely sharper or choose to avoid parlay betting altogether, similar numbers should come out of this market.

Parlays are the most profitable bets for Michigan sportsbooks. That doesn’t mean you can’t win a parlay and enjoy the big payday it provides though.

Here’s a detailed explanation of parlay betting, to how you can place a parlay bet, and some of the odds on today’s most popular parlays.

Parlay betting explained

A parlay bet essentially combines two or more bets into one wager. The payouts increase exponentially on parlays because you have to win every bet, or leg, that is part of the parlay for it to pay anything at all.

In other words, if one bet loses, the entire parlay loses.

Of course, it’s hard enough to pick one winner, let alone two, three, four, or more, which is why sportsbooks are willing to offer such big odds on parlay bets.

Are parlay bets legal in Michigan?

Michigan sportsbooks will allow you to bet on parlays involving all kinds of sports, including NFL, NBA, MLB, NHL, NCAA basketball, and NCAA football games. They’ll also let you bet multi-sport parlays combining games from different sports.

However, it’s worth noting that most professional sports bettors avoid parlay betting despite the attractive nature of the big payouts involved. Michigan sportsbooks pay out less on winning parlays than the true odds of stringing together multiple betting winners.

But putting together winning parlays is not impossible, and parlay betting remains one of the most popular ways to bet on sports.

Parlay odds

Calculating parlay odds can be difficult because different sportsbooks employ different formulas, and the types of bets can vary so greatly.

What we do know is that Michigan sportsbooks consider both the currently posted odds on the individual bets and the probability of picking winners in the number of games that are part of the parlay to determine a potential payout.

You will be able to find various parlay calculators online that can give you close estimates on parlay payouts, but you’ll have to check with a Michigan sportsbook for precise potential payout information.

Parlay payouts are fixed at the time you place the bet. Even if the line changes for one or more of the games in your parlay ahead of the start, your parlay payout won’t. If the lines change in your favor you can always put together a new parlay with the same bets and an improved potential payout, but your original parlay, and its potential payout, still stands.

One Michigan sportsbook may offer a different payout for the same parlay as another, so it’s a good idea to shop around when betting parlays. Of course, this process will be made much easier when Michigan online and mobile sportsbooks go live in late 2020 or early 2021.

How to make parlay bets

Betting parlays is easy with online and sports betting apps and self-service betting kiosks at Michigan retail sportsbooks.

For the most part, you tap the screen on the sport you’re interested in betting on, browse through the betting markets, and tap on the bets you want to make a part of your parlay.

Once you’ve found them all, look for the parlay section on the instantly-created bet slip and fill in the amount you wish to wager. A potential payout will be displayed. Verify that all the information on the bet slip is correct and submit the bet.

Betting parlays at a ticket window in a retail sportsbook is all about conveying that same information to the cashier verbally and confirming. You can also fill out a parlay card with all your parlay information and hand it to a cashier at the window at most Michigan retail sportsbooks.

Parlay betting is infinitely easier and more convenient with online and mobile sportsbooks and self-service betting kiosks. Both allow you to see the potential payouts for a variety of different parlays and modify the bet as you see fit.

Most popular parlays

You can combine all kinds of standard bets into a parlay at Michigan sportsbooks. You can put together single-sport or multi-sport parlays with legs that include everything from moneyline, spread, and even futures bets. The one restriction is on bets involving the same event, which means you can’t combine moneyline and spread bets from the same NFL game, for example.

Here’s a look at some of the most popular parlays:

NFL parlays

NFL parlays are the most popular in US sports betting. The weekly NFL schedule allows you to make up to 13-game parlays almost every single Sunday. Taking a look at the NFL 2020-21 Season Week 1 odds atFanDuel Sportsbook App you can easily see what makes NFL parlay betting so popular.

Making four Week 1 $25 spread bets on a series of underdogs might look like this:

• Houston Texans at Kansas City Chiefs: Texans +10 (-115) – $25 to win $21.74
• Arizona Cardinals at San Francisco 49ers: Cardinals +8.5 (-120) – $25 to win $20.83
• Chicago Bears at Detroit Lions: Bears +2.5 (-120) – $25 to win $20.83
• Cleveland Browns at Baltimore Ravens: Browns +8.5 (-110) – $25 to win $22.73

If all four bets win, you’ll make almost $90 in profits.

However, if you took that same $100 and put it on a four-team parlay involving the same bets you would stand to win more than ten times that. That’s right, the potential payout for a $100 four-team parlay involving these four Week 1 spread bets is a whopping $1,099.64.

NBA parlays

With so many games held throughout the season, including up to 12 a night at some points, NBA parlays are almost as popular as NFL parlays. Looking at some regular-season NBA game odds shows you how much more parlays pay than individual bets, even if you’re betting the favorites in just two games.

For example, the Milwaukee Bucks might be a -310 moneyline favorite over the Atlanta Hawks. Put $25 on the Bucks at that price and you stand to win just $8.06 plus your bet back.

On the same night, the Detroit Pistons might be -124 favorites over the Cleveland Cavaliers. Put $25 on the Pistons at that price and you stand to win $20.16 plus your bet back.

Winning both bets will get you about $28 in profit, but combining both bets into a $50 two-team NBA parlay will get you more than double that, paying $69.46 plus your $50 bet back.

MLB parlays

Like the NBA, with multiple games on most days and nights throughout the season, MLB parlays are quite popular as well. Picking MLB moneyline winners and betting $25 on each in the following games might lead to close to $75 in profits:

• Tigers vs. Indians: Tigers -122 – $25 to win $20.49
• Phillies vs. Mets: Phillies +112 – $25 to win $28
• Yankees vs. Red Sox: Red Sox +100 – $25 to win $25

However, putting these three moneyline bets together as a part of a three-team $75 MLB parlay could earn you a whopping $503.66, even though you’d be risking the same amount of money.

With payouts like that it’s easy to see why MLB parlays are so popular.

Successful parlay betting tips

People see the potential payouts for parlays and can’t help but fire away. It’s only later they realize how hard it is to pick just one winner, let alone the winner of two or more games.

The world keeps turning and the sportsbooks stay profitable. Still, someone is bound to hit a massive 13-game NFL parlay for big bucks every year, and there’s no reason it can’t be you.

That said, it’s those who do a ton of research beforehand and make well thought out and carefully calculated plays that win parlays regularly.

These five parlay betting tips may help set you on that path:

Combine favorites

You normally have to put some pretty big bets down to make big favorites worth your time. However, you can make a profit with a smaller stake if you put two favorites together as a part of a parlay. This is a great way to bet the (no such thing as a) sure thing and get a decent return while risking a little less than you might normally have to.

Size down

Big odds might make you want to bet big, but increasing your normal bet size for a parlay isn’t always the wise move. Sizing down may be the prudent play. Bet big-paying parlays smaller and it won’t hurt too much when they lose, which happens more often than not. The payday on the right parlay will still offer a bit of that “wow” factor even with small bet size.

Find the hedge

Play a parlay correctly and there’s a good chance you’ll be able to hedge against the last leg. This means locking up some guaranteed winnings or at least your original stake by playing a little defense, betting against yourself, and taking out somewhat of an insurance policy. If you’re doing it right, you’ll be putting together parlays that naturally provide you the opportunity to lock in some profit midway through.

Multi-sport parlays

Betting parlays is still about finding the best value bets on the board. The big difference is you have to combine several bets. Multi-sport parlays are very often your best bet because it’s easier to find multiple bets with real value when you broaden your sporting horizons.

Limit the legs

There are 13 games on any given Sunday in the NFL, but that doesn’t mean you have to bet them all in the same parlay. Look for bets that offer value and combine them. If that’s only two or three games, limit your parlay to two or three legs. Smaller parlays don’t offer the massive paydays the larger one does, but they win more often.

Bet Types

Parlay betting: key takeaways

Parlays will continue to be among the most profitable bets for sportsbooks and sports bettors will remain attracted to the big payouts they often offer. In other words, parlay betting isn’t going anywhere.

It will be among the most popular types of sports betting in Michigan even as the market grows and matures Michigan sportsbooks will make money off parlay betting and the odd story about a massive parlay win will only add to sports betting allure here in the state. People will pay more attention to the big payday than the big picture.

However, there will be profitable parlay betting as well. Expert handicappers will combine favorites, size down bets, look for hedging opportunities, and bet multi-sport parlays with a limited number of legs, eking out small gains.

As long as there is sports betting in Michigan there will be parlay betting in Michigan and everyone will love it.

For the last decade, the Delaware Lottery has offered parlay cards that allow those 21 years and older located in Delaware to bet on NFL and college football games.

These parlay cards are offered at over 100 stores and bars throughout the state, as well as the 3 major sportsbooks in Delaware. Winners can claim winnings at any of these locations or can send the tickets in by mail.

This guide will go over how the parlay cards work, where you can find them, and will show the current’s weeks cards during the football season.

Types of Delaware Parlay Cards Offered & Odds on Each

The Delaware Lottery offers 5 different types of football parlay cards: 1/2 point, teaser, super teaser, reverse teaser, and a $100,000 parlay card.

There are NFL parlay cards, college parlay cards, and cards with both. For the cards with NFL and college games, both can be included in the same parlay.

Note that each card has a $2 minimum bet and you must make at least three selections. You usually can’t include two options from the same game in the same parlay (such as the Eagles covering the spread plus the over in the same game).

These cards include “traditional” lines including point spreads (favorite/underdog) and totals (Over/Under) that are not adjusted at all as they are in teasers.

An example
Say the Eagles are 6.5 point favorites (-6.5) against the Cowboys (+6.5) and the total score may be set at 48.5 points.

• If you choose the Eagles, they must win by 7 points to cover.
• If you choose the Cowboys, they must win or lose by less than 7 to cover.
• If you choose the Over, the total combined score of both teams must be at least 49.
• If you choose the Under, the total combined score must be 48 or less.

The odds on these cards (and all DE Lottery parlay cards), don’t change based on which game you choose. The odds are the same for the entire season.

Here were the odds for the 2019-20 school year:

• 3 choices: 6.5 to 1 ($10 wins $65)
• 4 choices: 11 to 1
• 5 choices: 20 to 1
• 6 choices: 40 to 1
• 7 choices: 75 to 1
• 8 choices: 150 to 1
• 9 choices: 375 to 1
• 10 choices: 800 to 1
• 11 choices: 1400 to 1
• 12 choices: 2500 to 1

Sunday Spread Report: Get an Advantage on Delaware Parlay Cards

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NOTE: The Delaware Lottery teaser card is closed until the beginning of the 2021 football season.

Teasers still allow you to bet point spread and game totals for football games, but the lines are adjusted by 5 to 7 points in your favor. The trade-off for more favorable odds is that you get worse odds.

The same example as above with a 6 point tease
Instead of the Eagles being 6.5 point favorites against the Cowboys, they will now be 0.5 point favorites (Eagles -0.5) and the Cowboys will be 12.5 point underdogs (Cowboys +12.5). Instead of the total being 48.5, the new Over will be 42.5 and the new Under will be 54.5.

• If you choose the Eagles, they must win to cover (since you can only win by 1 point).
• If you choose the Cowboys, they must win or lose by less than 13 to cover.
• If you choose the Over, the total combined score of both teams must be 43 or more.
• If you choose the Under, the total combined score must be 54 or less.

Here were the odds for the 2019-20 school year:

• 3 choices: 12 to 5 ($5 wins $12)
• 4 choices: 7 to 2
• 5 choices: 9 to 2
• 6 choices: 7 to 1
• 7 choices: 10 to 1
• 8 choices: 15 to 1
• 9 choices: 22 to 1
• 10 choices: 30 to 1
• 11 choices: 45 to 1
• 12 choices: 65 to 1
• 13 choices: 100 to 1
• 14 choices: 150 to 1
• 15 choices: 200 to 1
• 16 choices: 275 to 1
• 17 choices: 375 to 1
• 18 choices: 500 to 1
• 19 choices: 750 to 1
• 20 choices: 1000 to 1

NOTE: The Delaware Lottery super teaser card is closed until the beginning of the 2021 football season.

Super teasers are just like teasers except the odds are shifted even more in your favor; typically between 10 and 14 points. The trade-off for even more favorable odds is that you get even worse odds as compared to normal teasers.

The same example as above with a 13 point tease
Instead of the Eagles being 6.5 point favorites against the Cowboys, they will now be 6.5 point underdogs (Eagles +6.5) and the Cowboys will be 19.5 point underdogs (Cowboys +19.5). Instead of the total being 48.5, the new Over will be 35.5 and the new Under will be 61.5.

• If you choose the Eagles, they must win or lose by less than 7.
• If you choose the Cowboys, they must win or lose by less than 20 to cover.
• If you choose the Over, the total combined score of both teams must be 36 or more.
• If you choose the Under, the total combined score must be 61 or less.

Here were the odds for the 2019-20 school year:

• 4 choices: 11 to 5
• 5 choices: 13 to 5
• 6 choices: 3 to 1
• 7 choices: 4 to 1
• 8 choices: 11 to 2
• 9 choices: 7 to 1
• 10 choices: 9 to 1
• 11 choices: 11 to 1
• 12 choices: 14 to 1
• 13 choices: 18 to 1
• 14 choices: 23 to 1
• 15 choices: 30 to 1
• 16 choices: 37 to 1
• 17 choices: 45 to 1
• 18 choices: 55 to 1
• 19 choices: 65 to 1
• 20 choices: 80 to 1

Reverse teasers are just like they sound like: the opposite of teasers. Instead of the odds being shifted in your favor, they are shifted against your favor by around 5 to 7 points in exchange for better odds.

The same example as above with a 6 point reverse tease
Instead of the Eagles being 6.5 point favorites against the Cowboys, they will now be 12.5 point favorites (Eagles +12.5) and the Cowboys will be 0.5 point underdogs (Cowboys +0.5). Instead of the total being 48.5, the new Over will be 54.5 and the new Under will be 42.5.

• If you choose the Eagles, they must win by at least 13.
• If you choose the Cowboys, they must tie or win (since the odds are +0.5).
• If you choose the Over, the total combined score of both teams must be 55 or more.
• If you choose the Under, the total combined score must be 42 or less.

Here were the odds for the 2019-20 school year:

• 3 choices: 20 to 1 ($10 wins $200)
• 5 choices: 60 to 1
• 6 choices: 600 to 1
• 7 choices: 1800 to 1
• 8 choices: 5000 to 1

NOTE: The Delaware Lottery super teaser card is closed until the beginning of the 2021 football season.

With this card, you wager $5 and select 15 NFL games against the spread. If you are correct on all 15, you win $100,000. If more than one person wins in a given week, the $100,000 will be split equally amongst the winners.

At times, select totals (Over/Under) will be included, but typically this card is limited to choosing a team with the spread (ex: Eagles -6.5).

Parlay Cards Football

You can see an example DE Lottery $100,000 Parlay Card here.

You can find the football parlay cards at over 100 stores and bars throughout Delaware. See the full list here. They are also provided by the 3 major sportsbooks: Delaware Park, Dover Downs, and Harrington Raceway & Casino.

You can find this week’s Delaware parlay cards online here. Once you get to the page, simply click on the name of the parlay card you are interested in and it will open up.

If you win $600 or less, you can cash in your winning ticket at any of the locations offering parlay cards. If you win over $600, you must go to one of the 3 sportsbooks listed above or mail the ticket to:

Delaware State Lottery
1575 McKee Road, Suite 102
Dover, DE 19904

Since the Delaware parlay cards come out towards the beginning of each week, you can find some value by waiting to fill out a card until before kickoff on Saturday (if betting college football) or Sunday (if only betting NFL).

How?

Lines at typical sportsbooks change throughout the week depending on which side gets more money bet on it, injuries, weather, and other things.

The lines on Delaware parlay cards, however, don’t change once they come out.

So my general strategy is to check the current lines on sportsbooks like FanDuel and DraftKings on Sunday morning and compare them to the parlay cards. I take note of the biggest differences (because there is “value” there) and use this information to help me decide which games to pick in my parlay cards.

For example, if the Eagles are -3 on the parlay card but the line is at -5 at the major sportsbooks on Sunday, there is 2 points of value there.

This doesn’t mean that I just blindly choose the biggest values according to the differences, however. I won’t play a game because the line moved a lot if I don’t like it. I’ll use the values I find in conjunction with my other research to choose my games. Note that I typically only play the NFL parlay cards since I know the NFL better than college.

Since I’m doing this research each week, I decided to create a newsletter called the Sunday Spread Report to help other Delaware sports bettors. It’s completely free and you can sign up via the form below:

Sunday Spread Report: Get an Advantage on Delaware Parlay Cards

Parlay Cards Football Delaware Park

Every Sunday morning I compare the current NFL lines to the parlay card lines to see where the most value lies. Enter your email below to get it delivered straight to your inbox.