A same game parlay combines multiple bets from a single sporting event into one wager; all individual bets must win for the parlay to pay out.
Ever wondered how to potentially increase your betting wins by combining multiple bets? Many sports enthusiasts are curious about this method and want to understand more. This is where same game parlays come into the picture.
Essentially, you place different wagers within the same game, and combine them together. The key question people ask is ‘how do same game parlays work’. Understanding this can change how you approach sports betting.
How Do Same Game Parlays Work?
Okay, let’s talk about same game parlays, or SGPs for short. Imagine you’re watching your favorite basketball game, and you have a feeling about a few things that might happen. Maybe you think the star player will score a lot of points, and their team will win, and the game will be super exciting with lots of points. A same game parlay lets you bet on all those things in one single bet. Instead of placing three separate bets, you put them all together into one big bet. It’s like building a combo meal at your favorite restaurant but with bets instead of food!
Breaking Down the Basics
So, how does this combo bet work? It’s actually pretty simple. A regular parlay is a bet that combines multiple individual bets together. To win a regular parlay, you have to win all the individual bets within it. A same game parlay is very similar, but here’s the key difference: all of your bets come from the same game. It could be a football game, a basketball game, a baseball game, anything really, where a sportsbook allows it. Let’s look at each part of a SGP a little closer:
The Different Parts of a SGP
A same game parlay is made up of several individual bets, called “legs”. These legs are the different predictions you are making about one single game. For example, here are a few legs you might see in a basketball SGP:
- Moneyline: This is simply betting on which team will win the game.
- Point Spread: This is betting on the point difference between the two teams. The underdog gets a “head start” of points.
- Total Points (Over/Under): This is betting on whether the total score of both teams will be over or under a certain number.
- Player Props: This is betting on the performance of a specific player. Examples include how many points they will score, how many rebounds they will get, or how many assists they will provide.
- Team Props: Similar to player props, but these are about a team’s performance. For example, how many points a team will score, or how many steals they will have in the game.
Each of these legs will have its own odds. These odds are like prices – they show how much you can win based on how likely the outcome is. A leg that’s very likely to happen, like a heavy favorite winning on the moneyline, will have lower odds. A leg that’s harder to predict, like a player scoring over 30 points, will have higher odds.
How the Odds are Calculated
When you combine these different legs in a same game parlay, the odds get multiplied to create much bigger payout potential. The combined odds are not simply added together. Let’s see with an example, but first, keep in mind that sportsbook companies often use their own special algorithms to determine parlay odds. These algorithms take into account the correlation of different bets. For example, if a team is expected to win by a large margin, the odds of their star player scoring many points are also more likely.
An Example of a Same Game Parlay
Let’s say you’re betting on a football game between the Eagles and the Cowboys. Here’s what your SGP might look like:
- Leg 1: Eagles to win the game (Moneyline) – Odds: +150 (meaning a $100 bet wins you $150).
- Leg 2: Jalen Hurts Over 250 Passing Yards (Player Prop) – Odds: +175
- Leg 3: Total points in the game Over 45.5 (Total Points) – Odds: -110 (meaning a $110 bet wins $100)
Here’s the important thing: the odds on each leg aren’t simply added together. The sportsbook will combine these odds based on their proprietary calculations, often resulting in a larger payout than if you had bet them separately. In this example, the combined odds may be around +1200 or higher. That means a $10 bet could win you $120 (or more) if all three legs hit.
Understanding the Impact of Correlated Bets
You might think combining multiple bets is as easy as multiplying the individual odds. However, sportsbook companies take the correlation of the bets into account. Correlated bets are those where the outcome of one bet influences the outcome of another bet. These correlation-based odds will be different from the odds when calculated simply by multiplying the original odds. In the previous example with the Eagles vs. the Cowboys game, if the Eagles are favored to win, it also increases the likelihood of their star quarterback throwing a lot of yards. The sportsbook will factor this correlation into the final odds of the SGP. Because these legs are somewhat related, the payout will be less than if these were independent and non-correlated bets.
Why are Same Game Parlays So Popular?
So, why do people like same game parlays so much? Here’s the deal:
- Big Payouts: The potential to win a lot of money from a small bet is very exciting. When you combine several bets, even small bets can have huge pay potential. This chance for high return is very attractive to bettors.
- More Excitement: Instead of just betting on one thing, you are now following several things at once. This adds to the excitement of the game because it makes every play more important.
- Focused Fun: You are placing all of your bets within a single game. This helps you focus your bets and also focus more intently on a single game.
- Variety: SGPs provide a lot of ways to bet. You don’t just have to pick who wins. You can make a lot of different predictions on what could happen in the game.
The Risks Involved
While SGPs can be fun and exciting, it’s essential to understand the risks. Remember, you have to win every leg of the parlay to win the bet. If even one leg loses, you lose your entire bet. This is the biggest downside of parlay bets.
The Challenge of Winning All Legs
The chances of winning are actually lower with a parlay than with just placing individual bets because each leg has to come true. For example, if you had a 50% chance of winning each individual leg in a 3-leg parlay, the chance of winning the parlay is about 12.5% (0.5 x 0.5 x 0.5 = 0.125). The more legs you add, the lower the probability of winning the whole parlay becomes.
Importance of Strategy and Research
Because the probability of winning an SGP is low, it is very important to do research before placing any bets. Consider these steps:
- Study the Teams: Look at how each team is performing, their stats, any injuries or key players missing the game, and their recent performances.
- Understand the Players: Knowing the players and their styles of play will help you make better player prop predictions.
- Watch the Trends: Look for any consistent patterns in the games or the players performances.
- Start Small: Because the chances of winning SGPs are lower, consider placing smaller bets so that you can stay in the game longer.
Tips for Betting on Same Game Parlays
Here are a few tips to help you make more informed choices when building your SGPs:
- Don’t Go Overboard: It can be tempting to add as many legs as possible to try to get a huge payout, but the odds of winning a big parlay are low. Start with 2 or 3 legs and keep it simple.
- Combine Smart Choices: Choose legs that make sense together. For example, if you think a team is going to win, betting on the over on their team points total can be a smart and correlated pick.
- Don’t Overlook Lower Odds: You don’t have to go for the highest odds all the time. Sometimes choosing safer legs with lower odds can make more sense. You won’t win as much, but your chances of winning go up.
- Check for Promotions: Some sportsbooks will have promotions related to same game parlays. Look out for these to get more value for your bets. These can include insurance on a parlay that is not fully successful.
Common Mistakes to Avoid
It’s very easy to make mistakes when betting on same game parlays, especially when you are new to sports betting. Here are some of the most common mistakes:
- Betting Too Much: Never bet more than you can afford to lose, especially with a parlay where the chances of winning are lower.
- Ignoring the Risks: Remember that parlays are higher risk bets. Don’t get drawn into the big payout potential so much that you ignore that you have a smaller chance of winning.
- Not Doing Research: It’s important to do your homework before placing bets. Without this research you are just gambling and have a much lower probability of winning your parlay.
- Chasing Losses: Don’t try to win back the money you have lost by placing more bets, this is a very bad and quick way to lose more money.
Where Can I place Same Game Parlays?
Most major online sportsbooks offer same game parlays as a type of betting option, but availability will vary based on local laws and the specific sport or game you want to bet on. The best way to check if a sportsbook company offers them is to visit their website or app. You can often find them under the section for your game and sport of choice. As these types of bets are getting very popular, many of the major sportsbooks are starting to offer them across multiple leagues and sports.
Same game parlays provide a very fun and exciting way to bet on sports. They bring increased potential for larger payouts. Remember that these types of bets have higher risks, so it’s essential to do your research, understand the odds, and manage your bankroll carefully. Always bet responsibly and have fun. Hopefully, this explanation has made SGPs a little easier to understand so that you can enjoy them safely and responsibly. Happy betting!
What is a Same Game Parlay (SGP+) ? – Sports Betting 101 at FanDuel Sportsbook
Final Thoughts
Same game parlays combine multiple bets from a single game into one wager. All legs of the parlay must win for the overall bet to pay out. The potential payout is higher than individual bets, but the risk also increases considerably.
Understanding how do same game parlays work is crucial before placing any wagers. A single loss will cause the entire parlay to fail. Careful selection of each leg is paramount to success with same game parlays.
