Bettors are far less likely to win parlay bets than individual bets, and sportsbooks make more money from parlay bets than individual bets. The odds on individual bets are calculated even to generate a small profit for the sportsbook. That gives gamblers a 50% chance of making a profit with standard bets.

Using the standard -110 vig for point spread and totals bets, these are the odds of winning your parlay based on the number of bets involved: Two-team parlay  27.47 percent. Three-team parlay  14.37 percent. Four-team parlay  7.52 percent.