Skip to main content

​
Counter Parlays

Counter parlays allow users to bet against existing parlays. If you believe a parlay will lose (any leg fails), you can counter it and profit from the original bettor’s loss.

​
How Counter Parlays Work

When someone places a parlay, it creates an opportunity for others to take the opposite side:
  1. Original parlay - User A bets $100 that Teams X, Y, and Z all win
  2. Counter opportunity - The vault shows this parlay as available to counter
  3. Counter bet - User B can bet that User A’s parlay will lose
  4. Payout - If ANY leg of the original parlay loses, the counter wins

​
Counter Probability

The counter probability is simply: 
Counter Probability = 1 - Parlay Probability
For example, if a parlay has a 15% chance of winning, the counter has an 85% chance of winning.

​
Rebates: Better Odds for Counter Bettors

This is where SportToken becomes unique. Counter bettors receive rebates from the fees the original parlay maker paid.

​
How Rebates Work

When the original parlay was placed, they paid:
  • System fee (0.3%)
  • Dynamic market fees (varies by leg)
The dynamic fee portion becomes a rebate pool for counter bettors: 
Total Fee = System Fee + Dynamic Fee
Rebate Pool = Dynamic Fee (available for counter bettors)

​
Two Rebate Modes

When countering a parlay, you choose how to receive your rebate:

Autobet Rebate (Default)

Rebate reduces your effective cost and boosts your odds.
  • Pay less upfront
  • Get better implied odds
  • More capital efficient

Cash Rebate

Rebate is paid directly to your wallet as cash back.
  • Pay full stake
  • Receive rebate separately
  • Immediate funds

​
Example: Autobet Rebate

Original Parlay:
  • User A stakes $100 (gross)
  • Pays 5totalfee(5 total fee (0.30 system + $4.70 dynamic)
  • Net stake: $95
Counter Opportunity:
  • Counter stake required: $80
  • Rebate available: $4.70 (the dynamic fee)
  • Your rebate share (100% counter): $4.70
With Autobet Rebate:
  • Effective cost: 80−80 - 4.70 = $75.30
  • You pay only 75.30for75.30 for 80 worth of exposure
  • Boosted odds compared to fair value

​
Rebate Scaling

Rebates scale proportionally:
  • If you counter 50% of the parlay, you get 50% of the available rebate
  • If live odds change, rebate scales with stake changes
  • Multiple users can counter the same parlay (up to 100% total)

​
Partial Countering

You don’t have to counter the entire parlay:
  • Slider selection - Choose 1-100% of the available amount
  • Multiple counters - Multiple users can counter different portions
  • Live tracking - See what percentage is already countered

​
Key Rules

  • You cannot counter your own parlays
  • Counter parlays use USDC only (no coin bets)
  • Odds may change if countering with live odds vs entry odds

​
Cashout

Counter parlays can be cashed out before settlement:
  • Exit early - Take profit or cut losses before games finish
  • Fair pricing - Cashout value based on current probabilities
  • Rebate symmetry - If you received autobet rebate, it’s factored into cashout fee

​
Why Counter Parlays?

1

Edge the House

Get odds better than fair value through rebates
2

High Win Rate

Counter probability is often 70-90% (since parlays are hard to hit)
3

Help the Protocol

Counter bets reduce vault exposure and risk
Counter parlays create a true peer-to-peer market where users can take either side of a parlay, with rebates incentivizing the counter side.