A parlay is a combined bet on two, three, four or more games. You have to win all of your picks to win your parlay. If one of your picks loses, then your whole wager is lost.

If a game is a tie, postponed, incomplete, cancelled, or rescheduled for another date, your parlay is reduced to the next lowest level. That means a three team parlay with a tie becomes a two team parlay, or a two team parlay with a tie becomes a straight bet that is calculated at $10 to win $9.

Ties are considered losing bets at many sportsbooks, not pushes, so check the rules before betting.

The suface appeal of parlay bets is obvious -- a ten-team parlay pays off at 400 to 1. Typical payoffs for winning parlays are as follows:

# of games	Payout 
2	        2.6 to 1	
3	        6 to 1	
4	        11 to 1	
5	        20 to 1	
6	        40 to 1
7	        80 to 1
8	        150 to 1