For typical side wagers, most sports book use parley cards using a point spread. One has to select the number of teams in his parley and then figuring out the payout becomes easy. As the parlays are high risk games, it is never advisable to play large parlays. The handicapper benefits most from moneyline parlays though they are not always allowed. This type of parlay is mostly used in soccer, baseball and hockey. Bet between two teams Team X +150 and Team Y -150 are carried out by dividing the numbers attached and then adding 1. The two resultant numbers are multiplied to arrive at the winning amount for every $1 stake.

The other method is the Round Robin Parlay where you choose teams. Therefore, if you have 5 teams, you've 10 combinations. When all 5 teams win, all 10 of your parlays pay out. If 3 of the teams win, you lose 30% of the stake. Even seasoned bettors bow out of parlays because of the risk involved. In many cases, picks don't convert into locks. Most professionals stick to a typical side wager as they usually have the smallest margin for the sports book. You are sure to bite your nails while playing parlays!