How Does A Parlay Bet Work

Parlay betting is a form of football wagering where you pick two or more games on the same ticket and get a better payout (profit potential). But the trick is that all the games on your parlay ticket (also known as accumulators by some sports bettors) need to win in order for your bet to win. How does parlay betting work? Over/Under bets (or bets on the “total) are wagers made on the total amount of points that will be scored during any given game by both teams. The sports book sets the “line,” which is the number you will be basing your decision on. You bet on whether you think the total amount of points scored will be over or under that number. Over/Under, or Totals, bets are very common in betting parlays because they allow y.

1. How Does A Parlay Bet Work On Tab
2. How Do Parlay Odds Work
3. How Does A Parlay Bet Work In The Nfl
4. What Is A Parlay Bet
5. How A Parlay Bet Works
6. How Does A Parlay Bet Work

A parlay bet is a wager made up of combinations of single bets. For your parlay to win, each “leg” must win. Therefore, the more legs you include in your parlay, the higher the odds and the more you can win!

All the best online sports betting sites accept these wagers from customers, whether it is on the World Series, college football, or hockey, there’s a parlay for you.

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How Does A Parlay Bet Work On Tab

How Does a Parlay Bet Work?

The parlay is one of the most exciting wagers at online sportsbooks because it increases your potential payout by combining multiple results into one wager.

Here’s how to place a parlay bet online:

1. Open the sportsbook lobby
2. Click on selections of your choice in any sport. These will be added to your bet slip.
3. Open the bet slip and click on the ‘Parlay’ tab.
4. Enter your stake and check the full odds and potential return of your wager. (The odds for each leg are multiplied together to form your final odds.)
5. Click on the ‘Place Bet’ button to place your wager.

If a game is canceled for any reason, it will be voided from your bet slip and the odds and payout of your bet will be recalculated.

Types of Parlays Bets

The most basic type of wager is one where all legs must come in for you to win. The odds of each leg are multiplied together to form one final price.

For example, you choose three hot favorites from the week’s NBA, NHL, and soccer games:

How Do Parlay Odds Work

Based on the odds above, for a bet of $100, your potential return would be $392.

While it is is a simple way to combine multiple wagers, you can also find plenty more. Check out our betting guides for an in-depth look into alternatives like Trixies and Round Robins.

Round Robin Parlay Bet:A round robin bet is a type of parlay where all doubles are covered within your selections. In other words, only two of your legs need to be right for you to make a profit.

Systems: A Round Robin isn’t the only combo bet you can make. As you add more selections to your slip, more ‘system’ bets will be available. As a result, you can cover doubles, 3-folds, singles, and more, depending on how many selections you have.

What to bet on in a Parlay Bet

Futures: Futures wagers are bets placed on sporting events before the season starts. Typically, futures odds of the next Super Bowl or MLS league championship winner can be higher months ahead of time.

Moneyline: A moneyline bet is a straight wager on who will win individual games. You can combine multiple moneyline picks into one single wager.

Point Spread: Point spread bets are wagers on a team to win with a given points handicap or advantage.

Over/Under: A bet on the total points in a game. You place a bet on whether the total will over or under the bookmaker’s estimate. Combine multiple O/U picks in one parlay bet.

Props: Prop bets are special wagers that don’t focus on the outcome of a game. They usually center on different outcomes during a game, like the number of touchdowns, home runs, or total team points.

How Does A Parlay Bet Work In The Nfl

You can also bet on player props like total rushing yards. If you like the look of three or four players from a game between Kansas City and the Denver Broncos, you can combine multiple prop bets in one parlay.

Teasers: Teasers are great for sports bettors who like betting on the point spread. In a teaser, your picks receive an increased points advantage before the game begins.

Is a Parlay Bet a Bad Bet?

Making a parlay bet can be a good strategy as it increases your overall odds. However, the overall risk also goes up.

Sensible sports betting strategy is all about doing research. Therefore you need to find value in the odds and choose legs that have a good chance of coming in.

What Is A Parlay Bet

In sports, a lot of parlay legs consist of odds-on favorites. For instance, backing futures wagers on a hot favorite at -150 won’t return much, but your returns can increase if you combine the bet with two or more added legs.

You can also take advantage of parlay insurance at some sportsbooks in the United States. This is a special offer where you are still paid out, even if one leg of your wager does not win.

Parlay Bet Promotions

Parlay bets are available at all the best betting sites. Plus, you can enjoy a range of added bonuses when you place your wagers. In 2021 alone, you can earn great bonuses like the Unibet Level Up Booster or PointsBet parlay odds boosts.

Combine long shots with favorites in a single parlay or mix up a few futures bets on one slip and with a parlay boost, you can earn up to 20% on your winnings when you select up to 20 selections.

Before we go any further, we need to explain what a parlay is fully.

How A Parlay Bet Works

In order to win the entire bet, you have to win each of the individual bets on your parlay. If you lose one individual bet, then you lose the entire parlay bet.

The reason is that the sportsbook will pay you out much more money for correctly picking multiple individual bets together.There is more risk in this type of bet so it should be expected that we are offered a higher reward for making this wager.

Let’s compare betting three games individually versus betting them as a parlay.

Let’s assume that each game is -110 moneyline odds.

Let’s also assume that our bankroll for these three games is $300. We’re going to look at the scenarios if we picked all three games correctly and if we only picked two of the games correctly.

If we bet the games individually, we would bet $100 per game.

Now, what would happen if we picked all three games as a parlay bet? This time, we would place a single bet of $300. We will go over how to calculate parlay payouts in the section below here, but for now, we have done the calculations for you.

The profit on this bet as a parlay would be $1787.40! Even if we only bet $100 total, we would see a profit of $595.80. As you can see, you can bet 1/3 of the amount you bet total in the individual games and still make more than double what you would betting the games individually.

At this point, a lot of people are wondering why you would ever bet anything but parlays. You can bet less and make so much more! Well, as you are probably guessing, there is more to the story.

Let’s look at what happens in our same example, except this time we only pick two out of the three games correctly. We bet the same games again for $100 each individually, and we are correct on two out of the three games.

How Does A Parlay Bet Work

If we bet all three of the games as a parlay for $300 (or $100), our profit is negative $300 or negative $100. If you get even one game wrong in a parlay, you lose the entire bet. You’ve now seen the downside to parlays.

Even if you only get one game correct betting them individually, you’re only going to lose $109. If you bet the same $300 on a parlay, though, you lose the entire $300. The risk is higher for parlays, but the associated reward is also higher.