How Do Betting Odds Work?
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Parlay bets are great for those looking to add some excitement to a Sunday full of football games, or for going after a huge win at the track. The negative to a parlay is that they do not represent ‘true odds’, meaning that as you add more teams to a parlay, the less ‘correct’ your odds are in comparison to making multiple, single bets. Whether you call it an overround or a vig, it is still the profit margin sportsbooks factor into the price, or odds, of any bet.