A parlay is a combination of bets in which you win only if every one of your selections is a winner.
Casino payouts vary, but the mathematical odds of hitting a seven-team parlay are 127-to-1.
A casino will typically pay off at about 80-to-1, give or take. A 14-team parlay payoff is usually 900 to 1 and the true odds of hitting it are 16,384 to 1.
I'm sure readers are going to be a bit curious as to the payouts your son received based on the amount he bet. For a $20 wager, most sportsbooks pay anywhere from $1,500 to $1,800 on a seven-team parlay wager.
A $3,900 payoff was well over the true odds of 127 to 1. The explanation would be either 1) that he was making single, money line wagers linked together into a parlay, that included some underdogs, or 2) that he bet the Dime Line, which is the money line difference - 10 cents - between what a bettor would lay with the favorite or take back with the underdog. If he was betting a ten-cent line, all seven teams he parlayed had to be underdogs.
Just for clarification, money line wagering is simply wagering based on a given price rather than on a pointspread. And, betting the Dime line isn't to be confused with a Dime bet, which is $1,000.
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