Same-game parlays explained
A same-game parlay (SGP) combines several bets from one game into a single ticket. Every leg must win.
How it differs from a normal parlay
In a normal parlay the legs come from different games and are independent. In an SGP the legs come from the same game and are often connected. If a team scores a lot, its quarterback's passing yards and the over are more likely to hit together.
Correlation and pricing
If two legs tend to win together, the combined chance is higher than if you multiplied the single chances. Sportsbooks know this and price SGPs with correlation models, so the payout is lower than the plain product of the legs' odds. Legs that move opposite are often not allowed.
Margin
Margin is applied to every leg and then correlation adjustments are added. The margin on an SGP is often higher than on a single bet. A fair way to judge the price is to compare it with what the single bets imply, using implied probability.
Practical points
- More legs means a smaller chance that all win and a higher margin.
- One missed leg loses the ticket, including a player who leaves the game with an injury.
- Rules on voided legs differ by sportsbook.