In a parlay, those odds would turn into +205, which means a $100 bet would pay out $305. Instead of betting one team at -150 to win and the other at -120, you could combine them. For example, if you really like two teams to win, you can combine their moneylines into a parlay bet. The main reason to parlay bets is because the payout can turn into much more money than a single bet.
A parlay is a bet on two or more point spreads, over/unders or moneylines to increase the possible payout
