There are many other types of bets in which you can engage, but one that allows you to expand your winnings quickly is the parlay. A parlay bet is simply a wager that combines two or more bets. When you place a parlay, you must win every one of the bets to receive any payoff. Using this method of combining wagers gives you a much higher payoff on the same investment that you can make on one wager. Of course, there is a greater risk of losing.
If you parlay a bet on the Red Sox- Yankees run line, on the Angels- Mariners over/under, a third pick on the Angels- Mariners run line and a final pick on the Cubs- Cards run line, you could get odds of 12 to 1. Placing an $11 single bet on each of these wagers would mean you would put $44 down and get a payoff of $10 per wager. If you won all 4 bets, you’d make about $40. However, in playing a 4-bet parlay, one $11 bet could result in a $110 profit.