Money Line Parlay

I just this week found a formula to compute the parlay payout when money lines are involved. Obviously, if you pick two 10-point favorites to win in a parlay, you shouldn't get as much of a payout as if you picked two 10-point underdogs to win.

Picking favorites to win outright isn't as profitable as picking underdogs to win. But, here's an example that might be compelling.

Let's say that you have two 5 or 6 point favorites in college basketball. The money line on those favorites should be around -250 or so. If you pick those favorites to cover in separate bets and win both bets ($50 each game - $100 total), you'll win $95.45 total. If you put those two teams in a money line parlay for $100, they don't have to cover (just win), and you will win $96. Obviously, they both have to win to win the parlay. But you get the cushion of "just win" instead of covering the spread.

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