Multis, aka parlays, are bets that combine *multi*ple individual bets into 1 larger bet, with much higher risk and reward.

For example, we could bet that:

- The New England Patriots will beat the New York Jets (1.9 odds)
- The Buffalo Bills will beat the Miami Dolphins (1.8 odds)
- The Seattle Seahawks will beat the LA Rams (1.7 odds)

If we place $50 on each bet separately, we have the potential to win

- 1.9 * $50 = $95
- 1.8 * $50 = $90
- 1.7 * $50 = $85

For a grand total of $180. Not bad.

But, if we were to do a **multi , **we would bet that all three of events would happen, and multiple their odds together to make one super bet. We would call this a multi with

**3 legs**(each game = 1 leg)

The odds would get multiplied together, for a final odds of 1.9*1.8*1.7 = **5.814**

Rather than bet $50 on each game separately, we can bet $150 on that multi, and, if all three of our picks win, we would win **$872.1**. High risk, high reward.

## How to Earn Bonus Bets with Multis

As we learned in the complete guide to matched betting, we make our risk-free profit with the help of bonus bets. Along with dutching, multis are a great way to earn tons of bonus bets, thanks to a very common promotion, most often referred to as “Parlay Insurance”

Parlay Insurance is an offer that let’s you place usually 4 (in the above case, 5) *legs* of a multi. Remember, *a leg* is an individual bet. If you hit 4 out of 5 legs, you can get your bet back in site credit (which can then be turned into cash!)

## Multis require long-term mindsets!

Unlike with taking deposit bonuses and turning them into cash, multis will *not *provide you with winnings every time. For Multis, we need to trust the **Expected Value** **(EV)**

**What is Expected Value?**

The Expected Value of a bet is the anticpated return of that bet *in the long run*. That means you won’t get the return *every time*.

Let’s take an example bet with these outcomes:

50% of the time, you win $50

40% of the time, you win $0

10% of the time, you lose $50.

Now, to find the **Expected Value**, we simply multiply the odds by the winnings, and add them up. (Note: be sure to divide the odds by 100 before multiplying, as you see below [50% = .5])

50% of the time, you win $50 ($50 * .5 = $25)

40% of the time, you win $0 ($0 * .4 = $0)

10% of the time, you lose $50. (-$50 * 10% = = -$5

Add those all up, and we get an **Expected Value** of $25 + $0 – $5 = **+$20**.

That means if you took this bet 10 times, you can expect to earn $200.

If you took that bet 100 times, you can expect to earn $2000.

However, if you take that bet just once, there is still a 10% chance that you lose $50. Multies are not guaranteed profit every time, but if you have a positive **Expected Value** and continue playing those favorable odds, you will come out on top!

Let’s do one more Expected Value example: Is betting Red on a Roulette Wheel a good bet?

A Roulette Wheel has 37 numbers (0-36), 18 Red, 18 Black, and 1 Green (0).

If we bet $50 on Red, what would our Expected Value be?

Lands on Red: +$50 * (18/37) = +$24.32

Lands on Black: -$50 * (18/37) = -$24.32

Lands on Green: -$50 * (1/37) = -$1.35

Expected Value of a Roulette Wheel: **-$1.35**. That means if you put $50 on Red 100 times, you can expect to walk out with **-$135.** Let’s stick to things with positive EVs.

## How Do we Get positive EVs with Multis?

For regular bettors, Multis are a guaranteed negative EV. But for matched bettors, we can use promos and bonus bets to swing the odds in our favor.

Say we have a 4 way Multi on NBA games, but we have that “parlay insurance” promo, meaning we get our bet back if exactly 1 of legs fails.

If all 4 of our teams win, we **win big**.

If 3 out of our 4 teams win, we **break even**.

If 0, 1, or 2 of our 4 teams win, we **lose.**

Like most matched bets, we need to use a calculator to find our best bets.

You can get a free, complete matched betting calculator on the right sidebar, which includes a Multi calculator.

In the example above, we have 3 outcomes:

All 4 of our teams win – we win **$44**

3 of our 4 teams win – we lose **$12**

2 or more of our teams lose – we lose **$50**

The probabilities come from odds to back each team from the bookkeeper, and to lay each team from the betting exchange.

This bet may not be a sure thing, but it has an expected value of **$10.32**. We want to aim for bets with EVs of over $10, so this is a good bet.

Keep in mind, we may lose money on any individual Multi. But if we keep making bets with EVs of $10+, after 10 bets we can expect a profit of **$100**.

Head to head Multis are a great tool for Matched Betting, but since your betting on different teams, you can’t really control the odds. There’s an even better alternative in Same Game Multis.