Parlay
📖 GlossaryDefinition
A parlay combines two or more individual bets into one. ALL legs must win for the parlay to pay out. The payout is higher because the risk is compounded.
3-Leg Parlay:
• Lakers ML (-150) → Win
• Celtics -3.5 (-110) → Win
• Yankees ML (-120) → Loss
Result: LOSS ❌ (all three must hit)
If all three had won: $100 bet → ~$505 payout [/example]
Are Parlays +EV?
Usually no. Sportsbooks bake extra vig into parlay payouts. However, SharpWire's AI Parlay Builder specifically selects legs where each individual bet has positive expected value, making the combined parlay closer to fair or +EV.
A parlay of +EV legs is better than a random parlay, but the variance is much higher. Only use money you're comfortable with as a longshot.