Station Casinos Million Dollar Parlay Cards

Can someone please do the math on the actual odds of hitting a 20 team parlay? To win the $1million, you have to hit a $5, 20-team parlay, which consists of a combination of against the spread games in college and pro football. I think $1,000,000 is actually a terrible pay out for this bet. Further, there are only a select number of games one can choose from on these million dollar cards, which to some degree may make it more difficult.

Thanks in advance for any comments.

assuming you have a 50% chance of winning on any game:

(1/2)^20 is the P(Winning) which is 1,048,575:1 so

P(L) = 1,048,575/1,048,576
P(W) = 1/1,048,576

$1,000,000(1/1,048,576) - $5(1,048,575/1,048,576) = -$4.0463

a truly terrible bet with over 80% HE.

I knew the house edge had to be high on this bet, but over 80% house edge that is crazy. Does that make this bet the worst possible bet in the casino?

Quote: SONBP2

I knew the house edge had to be high on this bet, but over 80% house edge that is crazy. Does that make this bet the worst possible bet in the casino?

In reality, there will be some games that a sharp punter might be able to predict 67/33 instead of 50/50. This knocks the HE down a bit. Keno is still probably the worst bet.

Quote: SONBP2

I knew the house edge had to be high on this bet, but over 80% house edge that is crazy. Does that make this bet the worst possible bet in the casino?

I don't play parlay cards, but my guess is that with a bit of knowledge, you should be able to get at least 10 of those covered (unless of course they choose games with less than a 3 spread.) The NFL games are more challenging, as teams are usually evenly matched, while college games have a bit more intrigue depending on the line. Doing the coin flip, yes it's a terrible house edge, but with background information, my guess is you can cut that in half, and 40%, while super high still, would not be the worst bet by any means.

You could manually parlay $2.42 into $1,000,000 over 20 games at -110 each.

Or $5 into $2,065,812.55

Boo on gimmicks.