Sports Betting Parlay Explained

A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games.

1. Delaware Sports Betting Parlay Cards
2. Sports Betting Parlay Explained Picks
3. Sports Betting Parlay Explained Betting
4. Sports Betting Parlay Definition

The allure of these bets has always been a larger payout than choosing a single team to win. But there’s more gamble to these types of wagers because every “leg” of the parlay needs to not lose in order to win. If one leg loses, the whole parlay loses.

The flexibility of a parlay bet also makes it attractive to gamblers. You can combine multiple sports into your parlay bet; for example, you can include the Cowboys from the NFL, the Celtics from the NBA and the Coyotes from the NHL into a single bet. If they all win, you win.

Test out the parlay calculator above and compare odds at different sportsbooks to see how it works!

Placing a parlay bet

There are two ways to place a parlay bet and both are quite simple. Bettors can either tell the ticket writer directly which teams and totals they’d like to bet on and how much they’d like to risk on the bet. Filling out a parlay card is the other option for placing this kind of bet. Once the card is filled in, the bettor simply needs to visit the sportsbook desk to place the bet.

• A parlay is a bet that connects the outcomes of multiple sporting events in a single wager. To win the parlay, you must correctly select the outcome of every event included. When you wager on two (or more) games at once, your chances of success get smaller, but your payouts get significantly bigger.
• Here’s a detailed explanation of parlay betting, to how you can place a parlay bet, and some of the odds on today’s most popular parlays. Parlay betting explained. A parlay bet essentially combines two or more bets into one wager. The payouts increase exponentially on parlays because you have to win every bet, or leg, that is part of the parlay for it to pay anything at all.

Some mobile sports wagering apps offer both types of parlay bets.

Get the best parlay deal at online sportsbooks with Parlay Insurance here:

A parlay bet is a sports bet that combine multiple straight bet wagers on one ticket. Usually, you would pool straight-up bets with spreads and totals. However, you can have multiple versions of the same bet as long as it’s on different games. How Do Parlays Work? If even one bet in your sports parlay is a loss, your entire parlay bet loses.

Delaware Sports Betting Parlay Cards

Winning a parlay

There are two instances when a parlay can be a winning bet. A parlay only wins if none of the sides, totals or moneylines selected is a loser. The parlay can still be a winner if a game is canceled or ends in a tie. The pay schedule will simply more down to the lesser payment. For example, the bettor will win if a baseball parlay for four teams has three winners and one game is canceled because of rain. The bet will only pay based on the schedule for three winners instead of four as originally planned. The bet is a loser if one pick for a parlay is wrong.

Parlay odds

Not all parlay payouts are the same. Sportsbooks may have different odds for the number of teams bet in a parlay. This can be very confusing when looking at online sports that have different odds and payouts for the same parlay. Further, these odds may change at any time so bettors should check with the ticket writer in sportsbook before placing a parlay.

Parlay payouts

Payouts for a parlay are fixed by the time the bet is placed. Even if the lines and odds for an individual game move, the parlay lines and odds won’t change from when the parlay bet was placed. The parlay bet won’t be changed whether the lines change for or against the bettor.

If the lines change for a game, or games, in the favor of the bettor another parlay may be bet with the new line. The original bet cannot be changed and the bet will stand. The good news is that the bettor has two live parlay bets.

Types of parlays

A parlay is a type of sports bet and there are different variations of this kind of wager. The most common types of parlays are Round Robin parlays and Teasers.

Round Robin

A Round Robin bet is placing multiple parlay wagers at once. It’s just that simple. Round Robin bets are just a way to simplify making multiple parlays. When a bettor “Round Robin’s” teams in sports betting it’s similar to a horse bettor “boxing” horses for an exacta or trifecta bet in a race.

The bettor will select anywhere from 3 to 8 teams or totals to be in the Round Robin. They will then choose how many teams or totals they’d like to tie together for the Round Robin. For example, a bettor may select eight teams and totals for a Round Robin and tie the parlays to as many three-team combinations as possible.

The combination of teams will dictate how many different parlays the bettor has. Continuing the example, if a bettor wants to Round Robin eight teams they will have 28 different parlays if they choose two teams. If the bettor chooses to make three-team parlays they will have 56 different parlay tickets.

The ticket will cost the amount chosen for each parlay. If the bettor only has $300 they might choose to Round Robin the teams by two, so they have 28 different parlays for $10 each. The payout for each winning parlay is the same as it would be if the parlay bets were each made individually.

Teaser

A teaser is similar to a traditional parlay where the bettor can select multiple teams or totals. However, there are no moneylines allowed with a teaser. Unlike a parlay, the bettor may move each point spread or total plus or minus a certain number of points. The additional points on the spread or total make these bets easier to win and thus they pay less than a traditional parlay.

Teaser bets can change the point spreads or totals anywhere from six to 10 points. However, each leg of the teaser must use the same number of points. Those legs of the teaser may go in different directions.

• For example, the New England Patriots -7 can be teased down six points to -1. Meanwhile, the Cleveland Browns can be teased up six points from +4 to +10 points.

Much like a traditional parlay, the more teams involved with a teaser the better the payoff. Again, different sportsbooks have different odds and rules so they might have different payouts and teaser options available to bet.

Parlay Cards

The more popular way to bet parlays in casinos today seems to be with a Parlay Card. These are the long narrow cards where bettors fill in the numbered circle of the side or point spread they want to include in their bet. Once the teams and totals are chosen the bettor simply presents the filled in portion on the card to the ticket writer in the sportsbook along with how much they’d like to wager.

Parlay Cards are especially popular during football season. There are many different types of Parlay Cards including a variety of teasers, ties win and reverse teaser cards known as pleasers. These are more popular every year so the mobile sports wagering apps have started to add Parlay Cards for mobile bettors.

Table Of Contents

Parlay betting is an increasingly popular way to bet on football. It also remains one of the most understood. How many times have you found yourself asking 'what is a parlay?' to one of your betting friends, only to end up none the wiser. Here, we attempt to unravel the mystery.

In short, a parlay bet is a way of combining single bets, but with larger, overall odds, seeing as each individual bet must win for the parlay to pay out.

The lure of a larger payout makes this type of bet an attractive option. Parlay bets are especially popular with those who enjoy betting on NFL and NCAA football.

How parlay betting works

To place a parlay bet, you add each of your selections to your online betting slip, just as you normally would. The difference is that you click on the 'Parlay' option.

Your payout can then be calculated in one of two ways. One way is by using the fixed odds chart. This is used when placing a bet on either the totals or the point spread. These odds are typically 50/50 chances at odds of -110. A fixed odds chart might show two selections payout at +260 and three selections at +600. These can mount up quickly, as eight selections pay out at around 150/1.

A parlay is more complicated when there are different odds for each selection. This is even more the case when betting on the money line. All of your initial bets will be placed on your first selection, and if that selection wins, your return is as it would be if you were placing a single bet. However, rather than that money being credited to your account, it’s automatically placed on to your next section. This continues until your final selection is made.

Parlay betting odds

The two most popular types of parlay bets are the money line and point spread. With spread betting, you pick multiple teams to beat the spread. It’s a great way to add excitement to a weekend of football.

Parlay bets that use the point spread are based on fairly standard odds. You can expect to see odds like those below.

When it comes to the money line, parlay betting odds are relative to the odds of each individual pick. If you select multiple underdogs, your odds will obviously be longer. Conversely, if you choose multiple favorites, you can expect the odds to be shorter.

The odds can be confusing when it comes to parlay betting. Fortunately, you can always find a parlay calculator online to help simplify things.

Other types of parlay betting

• Teasers
• Pleasers
• Round robins

The teaser is a parlay where you can adjust the money line or point spread in your favor for each selection. A teaser typically adjusts the line by six points. If betting on a team to win by 10+ points, for example, you can bet on them to win by four or more points. While you will get lower odds than a traditional parlay bet, you'll find that wins are easier to come by.

The pleaser works in the opposite way to a teaser because you’re moving the line the other way, which makes each of your selections more difficult. However, you can also expect to win a larger payout.

A round robin parlay bet is where you place multiple parlays at the same time. You choose from between three and eight teams for your round robin. Then you decide on the number of teams or totals you’d like to tie together. You may decide on eight teams, for example, and tie the parlays to as many three-team combinations as possible. The team combinations will determine the number of different parlays you have. If you have eight teams in your round robin, you will have 28 different parlays if you choose two teams. If you make three-team parlays, you will have 56 different parlay tickets.

Where can I get a free parlay bet?

• FanDuel has quickly become one of the top names in sports betting. It clearly knows how to attract new customers, and a part of that attraction is its $500 risk-free bet for those making their first deposit. You can bet up to $500, and if you don’t win, you get your money back. That presents a great opportunity to try parlay betting for the first time.
• BetMGM makes the same offer to new customers, which helps to explain why they too have ascended to rank among the sportsbook elite. MGM also offers a free $10 weekly bet, so there's an incentive to stick with these guys once you’re all signed up.
• Another sportsbook with a tasty welcome offer is PointsBet. When you open your account and make a deposit of just $50, they reward you with $150, which really increases the value of your parlay betting when you're just getting started.

Oddschecker provides an odds comparison service so you can see all the odds, offers, and promotions from every single sportsbook in one place. They also provide free picks and analysis across every single sport. This means that at Oddschecker, you will always be able to see the best NFL odds and picks the market has to offer.

Sports Betting Parlay Explained Picks

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FAQ

What sports can you parlay bet?
You can place a parlay bet on any sport, but as mentioned, many sports bettors like to place parlay bets on both NFL and NCAA football.

Where can you place parlay bets online?
You place a bet with a sportsbook like Foxbet in the normal way, and then an additional bet, which automatically gives you the option of turning your bets into a parlay bet. You can then add more bets to your parlay.

Sports Betting Parlay Explained Betting

Can you parlay future bets?
Yes, you place a parlay bet on a future event.

Sports Betting Parlay Definition

Which online sportsbooks allow parlay betting?
There are numerous sportsbooks accept parlay bets, but FanDuel and BetMGM are among the most popular sportsbooks for parlay betting.