For example, 3/1 odds mean you profit three times the amount you wagered. AR$1 bet at 3/1 would pay outR$4 in total, or aR$3 profit and yourR$1 original wager. Conversely, 1/3 odds mean you profit a third of what you wagered. AR$30 bet on 1/3 odds would returnR$40 total, or aR$10 profit and yourR$10 original wager.

1) Team/player Performance: Bookies closely analyze the performance of teams and players involved in a particular event. They assess recent form, past results, and overall skill levels. Stronger teams or players are likely to have lower odds, reflecting their higher chances of winning.

With that in mind, FanDuel limits the maximum wagers for parlays and scales these limits based on the number of legs. Note: The example above was for MLB wagers. The maximum wagers differed slightly based on the odds of the individual bets. For parlay payouts, we've often seen them capped at around $1 million.