For many people parlay betting on the point spread is extremely attractive because of the nice take back. Typically, a $100 bet on a two team parlay will bring in $260 (plus you get your original $100 back if you win. As an example you might take Duke -7 and Stanford -5. Parlays always require two or more bets and all the teams have to beat the pointspead for you to win. Parlays account for 10% of betting, but the sportsbooks make about 30% of their profit from their parlay bettors.
Statistically You need to win about 33% of your parlay bets to make money. Yet, only 25% of 2 team parlay bets win. The odds get much worse if you do parlays involving 3 or more teams. Surely you will win some of your bets just like occasionally slot players will win the jackpot.
However, over the long term betting parlays is not a good proposition.
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