Super Bowl Betting: How Parlays Work For Chiefs Vs. 49ers
Everybody loves parlays, and everybody loves the Super Bowl. So naturally, Super Bowl week is a time filled with parlay betting. If you want to place your own bet on Super Bowl odds but you’re confused about how parlays work, fret no more. Simply read on to get the rundown of how to bet Super Bowl parlays.
Click any of the odds below to place a bet.
Super Bowl odds: Chiefs Vs. 49ers
Super Bowl parlays: How They Work, How To Bet Them
A Super Bowl parlay is simple in theory but can be a little complicated in practice. Like any parlay, Super Bowl parlays simply combine multiple wagers into one “larger” wager. We’ll explain the quotation marks here in a moment.
For example, let’s say you like the Chiefs and the over for Super Bowl 58. You can’t believe they’ve made Patrick Mahomes an underdog again, and you’re excited about Mahomes’ and Kyle Shanahan’s offenses playing indoors. You’ve set aside $100 to bet on the Super Bowl, so you bet $50 on Chiefs +2 (-110) and $50 on Over 47.5 (-110). If you get both right, congratulations, you’ve won $90.90.
Parlay those options together, however, and you would only have to risk $34.37 to win that same $90.90. Here’s how this Super Bowl parlay would work, step by step, after placing the wager:
- Your first $34.37 goes on one of the wagers. The order doesn’t matter — we’ll start with Chiefs +2.
- That bet wins and returns $65.62 — $31.25 in winnings plus the original stake.
- The $65.62 gets wagered on the over.
- That bet wins and returns $125.27.
- Subtract the original stake and you have $90.90 — winning the same amount as two separate $50 bets by risking only about a third of that amount.
You’re still only risking your original $34.37, but every time it wins an individual bet in a multi-leg parlay, the entire amount gets risked again on the next leg.
Now, you have the same sweat, but you still have $65 to spend on beer, food, or Taylor Swift-themed Chiefs apparel from unlicensed third-party vendors on the internet.
Downsides Of Parlay Betting
Of course, if parlays are a free ticket to Gravy Town, why do sportsbooks promote them or even offer them at all?
Well, the main downside to parlay betting is that it compounds your chance of a loss just the same as it compounds your winnings. The allure of risking a little to earn a lot is obvious, but remember that every bet in the parlay has to win for the parlay to win.
Since most wagering propositions are roughly 50/50 (assuming even odds both ways), but you’re taking the worst of it by laying 11 to 10 (paying -110), that small loss compounds itself across multiple bets. Sportsbooks commonly win far more from their customers on parlays than individual bets.
That’s not to say you shouldn’t bet a parlay, but it is to say you should keep expectations in check.
- Join TheLines.com’s free sports betting Discord with more than 4,000 community members and our staff sharing betting ideas daily. Go to the #roles server to get push notifications to the Discord app from TheLines.com staff when they lock in a bet.
How To Bet Super Bowl Parlays
Betting Super Bowl parlays is usually pretty easy.
Most NFL betting apps use a mechanic called “bet slips.” These are like regular bet slips you get when you place a wager at a retail sportsbook, except you can add and subtract to them as you please before you lock in the bet.
What you’ll want to do is select a bet — in our example, say it’s Chiefs +2. Then, if the bet slip pops up, don’t enter in a wager amount. Instead, you’ll click on another bet as well, such as Over 47.5.
If that two-team parlay is all you want, then bring up your betting slip. Generally, there’s either a slider where you turn the bets from single wagers to a parlay, or you’ll have the option to bet them either individually or in a parlay on the same slip. Select the parlay option, then enter the amount you want to bet.
Hit confirm, and voila. You’ve placed a Super Bowl parlay.
Same-Game Super Bowl Parlays
Same-game parlays have become one of the most popular ways to bet on sports. They present an opportunity to turn a very small investment into a mountainous win.
Explaining same-game parlays would take up more space than this article allows. To learn all about them, visit our same game parlays page. The short of it is this: Super Bowl same-game parlays allow you to combine multiple bets, including player props, from one game.
So, we can pump up our earlier example and change it from a regular parlay into a same-game parlay with multiple wagers. Let’s add Travis Kelce to score a touchdown (+100) and Rashee Rice to score a touchdown (+140) at FanDuel Sportsbook. Adding those two bets to the Chiefs and the over:
- Chiefs +2.5
- Over 47.5
- Rice TD YES +140
- Kelce TD YES +100
This pays out +944, or almost 10-to-1. Plugging these prices into a regular parlay calculator would tell you it should pay around +1600, or 16-to-1, so you can see that the correlation is built into the payout. That is, while two of these bets are negatively correlated (Kelce scoring makes it less likely Rice scores and vice versa), Kelce and Rice scoring are both heavily correlated to the Chiefs winning and the over. Therefore, the sportsbook compensates with a reduced payout.
Have fun building your own crazy Super Bowl same-game parlays, but be sure to bet responsibly, as these are very difficult to win in most cases.
Super Bowl 58 Player Props For Same Game Parlays
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