March Madness Parlay 2022
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What is a March Madness parlay?
A parlay is a single bet that involves two or more selections to win, with all of the selections needing to win for the parlay bet to win. The allure of placing a parlay bet, as opposed to a single money line bet is the greater odds and potential winnings.
Picking multiple underdogs in parlays can see the odds rise sharply, but with it, the difficulty also increases. Bettors may also choose to pick a combination of favorites in a parlay to enhance the odds of their bet, but upsets can happen, particularly in single-elimination tournaments such as March Madness so it’s a higher risk, higher reward type of bet.
What Are The Advantages Of A March Madness Parlay?
The advantages of a parlay bet are the increased odds of the bet. With March Madness odds in particular, especially in the early rounds of the bracket, you will have overwhelming favorites with odds that can be a very short price and unappealing to bettors.
Parlay bets offer a great way around that by combining the selections to provide a much larger return.
For example, if you wanted to place a bet on Kentucky, Kansas, and Gonzaga all to win their matches and assuming their individual odds were -400, the parlay odds for all three would be -105. Therefore $200 on each team individually would win you $50, where $200 on the three-team parlay would win you $190.48.
Expert March Madness Parlays and Teasers
Betting on teaser picks is a safer option when betting on March Madness picks. A teaser is a type of Parlay that allows you to reduce the line against the spread when combining two or more selections which increases the chances of winning but reduces the odds of a winning bet.
The number of points that the line can be moved in a teaser will vary between sportsbooks, but usually, in March Madness games the number of points will be between 4 and 6 points. For example, if your three March Madness predictions were -10 against the spread and you played them in a 4 point teaser, the line would move to -6 for each of them. Teasers and parlays can be played with 2 teams or more from different matches and with multiple games played on each game day leading to the March Madness Championship Game, our experts will highlight the best March Madness picks for teasers throughout the tournament.
March Madness 2022 Parlays FAQs
The parlay, which is considered an exotic, involves combining two or more bets on one ticket. In order for the parlay to pay off, all wagers must be won. The allure of the parlay is in the payout as a two-team parlay pays 13/5 and a three-team parlay offers 6/1 odds. From there on, the more bets you make the higher the payout. Play and win a 15-team parlay and you’ll get 1500/1. That’s $15,000 on a $10 bet.
A variety of bets can be added into a parlay bet, including Money Line, Against The Spread, and Points Totals. You can’t, however, add multiple bets from the same game into a parlay, such as Gonzaga -7 and Gonzaga’s match to have over 140 points, as you can in other sports such as the NFL.
Similarly to a single bet against the spread or on the points total, if the result falls exactly on the total or spread line, the selection is a push or void and the remaining selections continue, so a five-team wager will become a four-team wager with one push.
You can’t parlay event outcomes that are directly connected. The same logic applies to parlays involving futures bets. If the outcome of one selection in your parlay is even partly connected to another, your sportsbook isn’t likely to allow you to parlay them.