The winnings can get a bit crazy when adding in underdog bets. Finally, the $41.50 is also bet on the third leg with -110 odds. Then for the second leg, that $21 is bet on the second leg, also at -110. In this example, the first leg wins with -110 odds on an $11 bet. This multiplies because a parlay forces all winnings from the previous bets to roll over into the next one. Betting $11 on a three-bet parlay where each bet had -110 odds would turn into $79.23 if all three bets won. For example, if you want to place $11 on a bet, but winning $10 doesn’t excite you enough, you could put that $11 to use in a parlay. Parlays are a cheaper way to win bigger payouts potentially. However, parlays multiply the odds of your winnings, which is the risk-reward of parlays.
Obviously, in that case, if you bet them individually, you’d have won two bets and only lost one.
If you win only two of them, you get nothing. If you place a three-bet parlay, all three bets have to win for you to cash in.
