What Are Correlated Markets?

Correlated markets are markets which impact each other; the result of one market can influence or determine of the other.  

The parlay bet is a very popular bet type, however, not all combinations of markets are allowed in a parlay.  Most oddsmakers will not allow correlated markets in a parlay bet.  Correlated markets are markets which are impacted by the other’s outcome.  The oddsmaker defines if markets are correlated or not.  Some will allow for many markets from the same event to be parlayed, while others require parlays to be made up of markets from separate events!

Say you had the following odds for an upcoming EPL event:

Crystal Palace – 4.50 Draw – 3.75 Arsenal – 1.75
Match Winner – 1 Goal Handicap
Crystal Palace +1 Goal – 2.00  Arsenal -1 Goal –  3.00
Total Goals – Under/Exactly/Over 2
Under 2 – 3.60 Exactly 2 – 3.40  Over 2 – 1.85

If you were to put Crystal Palace + 1 Goal and Crystal Palace to win outright (1X2) on a parlay, you would not be allowed to submit that bet. If Crystal Palace wins outright, then Crystal Palace will also win + 1 goal, the markets are correlated.  An oddsmaker will not let you get a better payout by stacking correlated markets!

What if you wanted to put Arsenal – 1 Goal and Over 2 Goals on a parlay?  Some oddsmakers will not let you do this, others have no problem with it! Totals and winners in the same event are not guaranteed to be correlated, but they might be.  The oddsmaker decides whether they want to take parlays on those markets in the same event.

Markets in different events are never correlated, so feel free to mix and match markets from different bets in your parlays all you want!