A 10-leg Parlay (also known as a 10-team parlay) is a single bet that ties together ten different bets in one from the same game or several other games in sports like basketball or football.
The number ‘ten’ refers to the number of individual bets, or ‘legs’ that are tied together. The main reason why people bet on 10-Leg Parlays is its potential for incredibly high payouts.
How Does a 10-Leg Parlay Work?
The basic premise of a 10-leg Parlay is quite simple: you make ten separate bets, and each and every one of them needs to win for you to win the parlay.
It’s an all-or-nothing proposition, so if a single leg loses, the entire bet is lost. But if they all win, you’re looking at a hefty payout!
How Many Combinations Does a 10-Leg Parlay Have?
A 10-leg Parlay has a total of 1,024 different combinations (210).
Each game has two possible outcomes (win or loss), and since there are 10 games, the total number of outcomes is 2 to the power of 10.
That is 2*2*2*2*2*2*2*2*2*2 which when multiplied, equals 1024 combinations.
What Are the Odds of Hitting a 10-Leg Parlay?
The odds of winning a 10-leg parlay can vary based on the underlying odds of each of the bets involved. To calculate the odds for a 10-leg parlay that you’re betting on, you would multiply the odds of each individual bet together.
Let’s say each leg of your parlay is at -110, your odds would look something like this: +64208.16
This means that the probability of winning a 10-team parlay with +64208.16 odds is approximately 0.16% or 1 in 64,208, which is extremely low.
To calculate the total odds in a 10-team parlay where all of the bets are -110 or any other number, it’s best if you use a parlay calculator. The calculator that I use can be found on OddsJam.
How Much Does $1 or $100 on a Standard 10-leg Parlay Pay?
Using the -110 example above: A $1 bet on a standard 10-leg parlay at -110 odds for each bet would pay around $643.08, while a $100 bet would pay around $64308.16.
So with a -110 odds on all of the bets in your parlay, you’re getting back 643 times the amount of money that you bet.
These are, of course, theoretical payouts and actual payouts can vary based on the odds attached to each individual leg of the parlay you’re making.
And truthfully, I personally would never bet more than $10 on a parlay. Back in the day I probably would have bet a lot more, but now I understand that betting on parlays is like buying lottery tickets.
Advantages and Disadvantages of a 10-Leg Parlay
- Advantages: The potential for massive payouts is the main motivator of playing a 10-leg parlay. The chance to turn a small stake into a huge win is very tempting to sports bettors.
- Disadvantages: The downsides include the high difficulty of accurately predicting the outcome of ten separate events. Many sportsbooks have lower limits for parlays, which caps the potential payout, though this is not always the case.
Has Anyone Ever Hit A 10-leg Parlay?
Yes, bettors have successfully hit 10-leg parlays.
Some remarkable examples include a bettor on FanDuel Sportsbook who turned a $500 wager into $126,000 by correctly predicting the outcomes of ten NFL games, as stated by Bleacher Report.
Similarly, someone on Caesars Sportsbook turned a 10-leg football parlay into more than $704,000, as mentioned by CBS Sports.
These bettors used strategies focusing on data-driven bets, staying disciplined, and betting on sports and teams they were familiar with.
Tips for Winning and Betting on a 10-Leg Parlay
Some strategies and tips to use when betting on and trying to win your 10-leg parlays can include:
- Identifying weak spots – I do this when betting on the NFL, especially when there are clear guys who I know will get a touchdown
- Focusing on sports you know – This is also important. The more you know about a sport the easier it will be to find great plays
- Remaining disciplined – Very often you will find plays that look great and this may cause you to bet more than you normally would. Don’t do it.
- Not forcing bets – Sometimes it will be hard to find enough plays to create a parlay, if you can’t find great bets then don’t bet at all.
- Sticking to your pre-determined strategy – This supports everything that I just said above and it will stop you from losing money
How Do I Create a 10-leg Parlay?
To create a 10-leg parlay:
- Find a sportsbook that lets you bet on parlays. I use FanDuel but you can also use BETMGM or DraftKings
- Select ten games/bets you wish to bet on.
- Add them to your bet slip
- Select the parlay option
- Enter your stake, and place your bet
10-Leg Parlay Tools
OddsJam offers helpful tools like their Parlay Builder and Parlay Calculator which can automatically build your parlays for you based on all sports, certain sports, or types of bets.
Their tools help you in build profitable parlays that have positive expected value and help you calculate the potential payouts for your 10-leg parlays, based on the odds, before you bet.