A 5 game parlay bet payout will vary from sportsbook to sportsbook, and will also depend on whether you force a true odds calculation. Recall that parlays combine multiple bets into one big bet. Individual bets are also called selections. The bet wins if all selections are correct.
Point spreads, over-under totals, moneylines, and some prop bets are commonly combined to make a parlay bet. This lesson works off our parlay betting tutorial which offers a much longer and detailed explanation of parlay bets, house edge, and payout calculations.
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5 Game Parlay Bet Payout
A winning 5 game parlay bet typically pays 20/1 in Las Vegas. The exact payout might be different depending on which sports betting site you use. Sometimes you’ll see payouts ranging from 22/1 to 24/1 for a winning 5 game parlay. The “Global Sportsbook Payout” for a 5 selection parlay is 24.35/1.
However, the exact payout may vary when you include a moneyline or prop bet side that doesn’t have standard odds. We explain this in more detail below.
The following table illustrates the odds of winning a 5 game parlay bet, the payout, and the house edge on the bet. The “house edge” is simply the mathematical advantage the sportsbook has on the customer each time they bet.
| Selections | Actual Odds | Usual Payout | House Edge |
|---|---|---|---|
| 2 | 3/1 | 2.6/1 | 10.00% |
| 3 | 7/1 | 6/1 | 12.50% |
| 4 | 15/1 | 10/1 | 31.25% |
| 5 | 31/1 | 20/1 | 34.38% |
| 6 | 63/1 | 40/1 | 35.94% |
| 7 | 127/1 | 75/1 | 40.63% |
| 8 | 255/1 | 150/1 | 41.02% |
| 9 | 511/1 | 300/1 | 41.21% |
| 10 | 1027/1 | 700/1 | 31.54% |
Parlay Payouts Short the Winning Gambler
As you can see, the actual odds on a 5 game parlay are 31/1. That means a payout equal to the wager’s risk would be 31 x wager. However, the sportsbook’s actual payout might be 24/1. The reduced payout shorts the winning gambler and makes the parlay bet a moneymaker for the sportsbook.
Standard Odds Example
A “standard odds” parlay means all the selections have -110 odds. It’s easy to calculate a standard odds parlay payout. Simply multiply your bet amount x the payout figure. We’ll use the Global Sportsbook Payout value of 24.35 in our example:
- $10 Bet
- 24.35/1 Payout
- $10 x (24.35/1) = $243.50
True Odds Example
A “true odds” parlay means one or more of the selections does not have -110. This might happen when you include a moneyline selection with a -250 favorite, or a prop bet with a +500 side. Unlike the standard odds payout example above, we’ll have to do some more math to get the right payout.
Example Selections
Note the two selections that force a true odds calculation: Panthers +400 moneyline, and the Canucks -200 moneyline.
- Broncos -5 -110
- Celtics +7 -110
- Panthers +400
- Canucks -200
- Canucks o 6.5 -110
Example True Odds Calcuation
We’ll need to calculate a multiplier for each of the five selections. Our parlay bet tutorial explains the steps in detail. For simplicity, we’ll skip a couple of the calculations to demonstrate how a true odds payout differs from a standard odds payout.
The multiplier for any -110 odds selection is always 1.9091. In this example we have 3 selections with a 1.9091 multiplier. Now we’ll figure the multipliers for the Panthers +400 and Canucks -200 selections.
- Plus Values – Divide odds by 100 and add 1. (400/100) + 1 = 5.
- Minus Values – Divide 100 by the odds value and add 1. (100/200) + 1 = 1.5
Now we multiply all the multipliers, and then multiply the product by our bet. Finally, subtract our bet amount to figure the payout to get a $511.85 win on a $10 bet.
(1.9091 x 1.9091 x 5 x 1.5 x 1.9091) x $10 = $521.85 – $10 = $511.85
The product of the multipliers (numbers inside the parentheses) is 52.185. Note that it’s much higher than the actual odds (31/1) on a parlay comprised of standard odds selections. This is due to the 2 moneylines in the example, one of which is +400. Including a big moneyline underdog in a parlay increases the player’s risk. Therefore, the sportsbook must offer a higher payout should the parlay win.
In general, it’s best to try to force a true odds payout calculation, as it favors the player. That means you should try to include a favorable moneyline or prop bet within your parlay as often as possible.
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FAQs
The “Global Sportsbook Payout” for a 5 game or selection parlay bet with standard odds is 24.35/1. A winning $10 bet would payout $243.50.
A common payout for a standard odds 5 game parlay bet will be 24/1. The exact value may vary depending on the sports betting site. A common range is 20/1 to 24/1.
Include one or more moneyline or prop bet selections that don’t have -110 odds to force a true odds calculation. Putting a big moneyline underdog in your 5 game parlay will increase the potential payout well above a standard odds payout.
The exact house edge will vary depending on the sportsbook, however it will be around 32%-34%.
Parlay payouts favor the sportsbook, or the house. The payouts made to players placing standard odds parlay bets are well below the bet’s true odds. The sportsbook keeps the difference as profit.
Sports Betting Lessons
- What + and – mean in betting
- What +125 and -125 odds mean
- What +1000 and -1000 odds mean
- +2.5 and -2.5 point spread
- +7 and -7 point spread
- 3 Game Parlay Bet Payout
- 5 Game Parlay Bet Payout
- 3-Way Moneyline
- +1.5 and -1.5 run line
- +1.5 and -1.5 puck line
- PK Point Spread Line
- Asian Handicap Lines
- What a Push Means
- Underdog + or – sign
- Alternate Betting Lines
- “No Action” Bet
- Betting Line Movements
- Sports Betting Expected Value
- Prop Parlay Bet
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Sports Betting Resources
- How to Read Sports Betting Odds – Our helpful tutorial explains what the numbers mean for point spread, moneyline, total, and Asian Handicap bets.
- Sports Betting Questions and Answers – Common sports betting questions and answers, a simple quick reference for beginners.
- Sports Betting vs Casino Gambling – Learn how sportsbooks and casinos make money, and the important differences between each business model.
- How to Read NFL Odds – Short and sweet guide to NFL point spreads, totals, and moneylines. We’ve got live example bets from upcoming NFL matchups.
- Point Spread Bet – Understanding the point spread is key to betting on football and basketball. Learn how the point spread bet works with our tutorial video and text.
- Over-Under Total Bet – Bet over or under the sportsbook’s line. We explain how to place this bet with easy examples, a video, and text explainer.
- Moneyline Bet – Whether it’s a 2-way or 3-way moneyline, we’ve got you covered. Moneylines are available for almost every major sport league, including football, basketball, baseball, hockey, soccer, tennis, and combat sports.
- Teaser Bet – A teaser is a modified parlay that lets you buy points to shift point spread and total lines in your favor. Our fun tutorial video and detailed text article explain how to place this bet.
- If Bet Win-Only – Sequence multiple bets together in an if-then sequence. Your next bet only sees action if the previous one wins. Ideal for bettors with small bankrolls.
- Futures Bet – We explain what a futures bet is, how it works, and when to bet on a future sporting event. Common futures bets include the winners of the Super Bowl, Final Four, Stanley Cup, World Series, and NBA Finals.
- Parlay Bet – Combine multiple selections into one bet that returns a huge payout if all your selections were correct. We explain how parlay bets work and provide common parlay payout tables.
- Progressive Parlay Bet – Also known as a “Close Call Parlay”, this parlay variant can win even if one or more of selections lose. Our article describes this bet in detail.
- Parlay Card Betting – Parlay cards are issued by major sportsbooks midweek, allowing bettors to make multiple point spread, total, and prop bet selections that can return big payouts. Not to be confused with an “off the board” parlay!
- Prop Bets – We explain what a prop bet is, how to place a prop bet, and provide an expansive list of sports leagues with plenty of props to bet on right now.