Accumulator bets explained

Accumulators (or Parlay) bets are single bets that link together a variety of different wagers (outcomes) in order to increase the odds of the bet and increase the potential payout.  An accumulator bet only wins if every single predicted outcome in the accumulator bet comes true.

For example:

If you make a 3 team accumulator bet with the Arsenal, West Ham and Newcastle all winning their game, the accumulator bet will only payout if each of these three teams comes out with a victory.  If any team loses then the entire parlay bet loses.

CALCULATING ACCUMULATOR ODDS

We are sure you will have guessed by now that the payout for an accumulator bet is much higher than for any individual team bet, or even if you place a single bet on each of the three teams.

Accumulator odds are calculated by multiplying the single bet odds for each outcome by each other.

Continuing with the example:

Say these are the odds for single bets on each of the three Premier League teams:

Arsenal 1.59

West Ham 1.67

Newcastle 2.85

We are including the decimal odds because it is much easier to calculate accumulators using these type of odds.  Multiplying 1.59 x 1.67 x 2.85 you get 7.57. The odds for this accumulator are then 7.57 in terms of decimal odds.

Therefore a $100 wager on this accumulator would payout $757 if each of these three teams wins their game.  But don’t forget if any team loses then the entire bet is a loser.

WHEN ACCUMULATOR BETS ARE TYPICALLY USED

Accumulator bets are great to use when you are wagering on favorites.  Betting $100 to win $20 in a single bet on a big favorite seems like a lot of risk and little reward.  Many bettors choose to pick several favorites in order to increase their potential payout. 

The problem with multiplying the odds together for each outcome is that you are also multiplying the juice the bookmaker assigns to each betting line.  

Each outcome typically has a 10% juice associated to it in order for the bookie to make money.  When you multiply the odds together the juice also multiplies and this results in a bigger advantage for the bookmaker and a smaller expected value for you, the bettor.

That said, if you can find 3 sharp bets where the value of each play outweighs the juice then a parlay bet can still be acceptable to make as a winning bettor.

Parlay bets are a great way to try and get rich quick, but over the long run it is smarter to place individual bets on each outcome you desire.