With so many daily baseball games on the MLB betting board from April to October, it’s no surprise that baseball parlays are a trendy way to wager.
Tying multiple baseball bets together for a bigger payout can prove profitable, but parlays also come with their share of risk. We help you learn how to bet on baseball and educate you on the smart way to wager on parlays.
What is a baseball parlay bet?
A baseball parlay bet ties two or more wagers together and places one single stake for an increased payout. The more bets added to the parlay, the larger the potential profit. However, all the selections (called legs) included in the parlay must be correct for the overall parlay to win. Even if three of the four bets included in the parlay win and one loses, the entire parlay is a loss.
Parlays promise larger payouts due to the high risk involved. The more bets added to the baseball parlay, the greater the risk. Because of all those variables, parlays have a much lower win probability than single baseball bets. So, while they are a fun way to wager, they are not a sustainable long-term betting strategy due to that high risk/low improbability.
Baseball same-game parlays
Baseball same-game parlays have become increasingly popular recently, with sportsbooks offering parlays on odds markets from a single game.
The example below is a three-leg, same-game parlay from a matchup between the New York Yankees and Toronto Blue Jays. The parlay includes a bet on the Yankees moneyline (to win outright) at +120 odds, a bet on the Under 7.5 runs at -110 odds, and a player prop on Alek Manoah to record Over 17.5 outs at -145 odds.
Tying all three bets together in a baseball same-game parlay increases the odds to +610. A $100 stake on this parlay would payout $710 ($610 in winnings + $100 original stake). All three bets must be correct for the parlay to win.
|Moneyline: New York Yankees (+120) @ Toronto Blue Jays|
|Total: New York Yankees @ Toronto Blue Jays Under 7.5 (-110)|
|Player Prop: Alek Manoah Over 17.5 outs recorded (-145)|
|Total Return (Including Stake)||$710|
Baseball multi-game parlays
Baseball multi-game parlays are the most common method of wagering on parlays, tying together bets from different MLB games.
The example below is a two-game baseball parlay, including a bet on the Yankees moneyline at +120 and the Los Angeles Dodgers moneyline at -135.
By themselves as single bets, these bets would return $220 and $174 respectively on $100 stakes ($394 total return on $200 in stakes), but the result of one does not impact the other (one could lose and the other could win and pay out).
As a multi-game baseball parlay, however, combing the two bets into one parlay generates odds of +282, and a single $100 stake can return $382 ($282 in winnings + $100 original stake).
|New York Yankees (+120) @ Toronto Blue Jays|
|San Francisco Giants @ Los Angeles Dodgers (-135)|
|Total Return (Including Stake)||$382|
MLB parlay betting tips
Baseball parlay betting is a great way to break up a long season and also capitalize on what you see as your best bets for that day’s games. Here are some MLB parlay betting tips to follow all season long:
Don’t get crazy
As mentioned, the more games added to a parlay to greater the risk and lower the implied probability. A 10-game parlay may promise a massive payout on a single stake, but the chances of you winning that parlay are incredibly slim.
You can use Covers’ odds calculator to see the implied probability of your parlay bet.
Rather than run the risk of a massive parlay bet, be selective about the wagers involved. If you have a five-game parlay in mind, comb through those individual bets and slim it down to the three bets you like the most.
A three-game parlay may not pay as much as a five-game parlay, but it has a much higher chance of winning, especially if you narrow it down to your three best bets. Check out the difference in payout and risk with Covers’ parlay calculator.
Correlated same-game parlays
Same-game parlays allow you to focus solely on the outcome of a single contest. However, you must ensure you’re not contradicting yourself with your parlay selections.
You wouldn’t want to bet Over on the game total and include an Under bet on the pitcher’s runs allowed. Set a narrative for how the game will play out and bet accordingly.
Suppose you love betting parlays regularly. Set aside a chunk of your overall bankroll to just stake those parlay bets.
The separation helps you be more selective with your parlays and isolates high-risk bets from the rest of your bankroll so you can manage and track your wins and losses.
Sometimes the final game of a parlay can put you in a position to hedge on the other side of that outcome and ensure a profit.
Suppose the parlay is paying a significant amount for that bettor. In that case, hedging is a wise choice, so they don’t walk away empty-handed.
Baseball parlay betting FAQs
Yes. Sportsbooks will grade the bet as a loss even if you lose one bet in your parlay.
Yes, all legal sportsbook operators offer MLB same-game parlays.
Covers has some of the best MLB betting analysts and provides free picks and predictions on our news and analysis page.