Markets
Same-game parlay
Also called SGP
A parlay whose legs all come from one game, priced to account for how they relate to each other.
In a normal parlay the legs are independent, so the odds multiply cleanly. In a same-game parlay they are not: a quarterback throwing for 300 yards makes his top receiver going over on yards much more likely.
Books price this correlation in, which is why an SGP pays less than multiplying the individual legs would suggest. The pricing model is also where the margin hides — SGP hold is routinely double or triple a straight bet's.
The bettor's angle is finding correlation the model underrates, usually in second-order relationships rather than the obvious quarterback-to-receiver stack that the book has already handled.
Want the full version? Read the in-depth guide, with worked examples and the math.
See also
- Parlay — A single bet combining several selections, all of which must win to pay out.
- Correlation — The degree to which two betting outcomes move together — the thing that makes some parlays worth building.
- Hold — The share of all money wagered on a market that the sportsbook keeps regardless of the result.