Instead of risking money on a single outcome, parlay bets require you to wager that multiple outcomes will occur. If even one selection or leg loses, the entire bet is a bust and you lose your stake. Parlays are a fun way to get in on the betting action, but you should make them with caution.

Do your research, make smart picks, and hope for the best when placing parlay wagers. Parlays are sometimes called accumulators, combo bets, or multi-wagers. However, the end result is the same. They all mean linking two or more individual wagers into one higher risk bet.

Parlay bets always have higher payouts than the individual bets they contain. Think of flipping a coin. But if you choose to bet on heads hitting three times in a row, that is far less likely.

Parlays work on a similar system. The more legs you include in a parlay, the higher the potential payout. Additionally, if you combine parlay legs with already-high odds, the payout could potentially be massive. Bear in mind this is all very risky, as every single individual bet within your parlay must hit in order to win.

Keep in mind you are not limited to this many. You can place 5-, 6-, even 7-leg parlays, and some sportsbooks allow up to legs. But the more you add, the risker your bet. But of course, if even one leg failed, you would lose the bet.

Now, the parlay includes four legs:. Adding the Oakland moneyline into the mix significantly increases the payout. A parlay bet allows you to add multiple selections into one bet. To win, all of the outcomes need to go your way , but you will get better odds, reflective of the combined odds of your selections.

As you add more teams to the parlay, your odds will continue to improve. Ready to place one yourself? If so, be sure to check out these sportsbook promo codes before you do:. Better odds. Think of it this way. The implied odds of a bet are The implied odds of two bets are The implied odds of three are Parlays very often lose.

Especially when you start adding more teams. This can include the moneyline, point spread, total, game props, player props, and more. It took a while for sportsbooks to warm up to SGPs, but they are now a betting norm across the industry.

The books initially frowned on SGPs because of the possible advantage bettors had by placing a correlated bet. A correlated bet is when you combine legs that are more likely to happen together. An obvious example would be picking a team like the New York Knicks to win the first half of an NBA game and parlaying it with the Knicks to also win the game outright.

The logic is that if they lead at the half, the odds are in your favor that they will win the game. Most sportsbooks now offer these types of bets but protect themselves by reducing the odds to something more favorable to them. See more: Best NBA betting promos. FanDuel started the SGP trend in , and the rest of the sportsbooks eventually followed suit.

You can include up to 10 legs at each of these books, and all of them offer early cash-out options to some degree. FanDuel was the first sportsbook to offer the SGP and remains one of the best options for this bet type.

The odds will always be competitive, but the Fanduel betting app separates itself from the parlay pack because of its extensive prop menu. Like FanDuel, the DraftKings app has a considerable variety of SGP props. This online sportsbook app lags in the prop department compared to FanDuel, but it does offer pre-packaged one-game parlays with enhanced odds regularly.

Caesars has a great selection of player props, including some you won't find at other top online betting sites. During the NFL season, you can stack bets like running back carries and quarterback pass attempts. Sticking to a strict diet of parlay bets is not a sustainable betting strategy.

In most cases, parlays are best served as a sprinkle of pepper on the steak of your overall betting portfolio. The reason is that parlays are hard to win. There is no optimal number of legs to bet on a parlay ticket.

Just know that your chances of winning rapidly decrease with every added selection. Now that you know your chances, you probably want to know how much each parlay will pay out.

We know that the easiest parlay to win is also the smallest two-leg. We also know that favorites are easier to hit than underdogs.

So, by that logic, a two-leg parlay of favorites would theoretically give you the best chance to win. But it would also pay out the least.

It might cross your mind to stack a large number of favorites together. Since your chances of winning a substantial parlay ticket are slim to begin with, the best strategy might be a healthy mix of favorites and underdogs. The correct answer is only to bet what you can afford to lose a concept familiar to those who practice responsible gambling.

Understand that parlays are in the sportsbooks' favor, and you should consider them entertainment. A common strategy in the sports betting industry is to bet by unit. However, with parlay betting, your chances are slimmer than winning a single-game bet, so you should adjust accordingly.

A parlay combines your selections from each game into one bet and in effect rolls your stake from one selection onto the next and the next and so on, combining into one potential larger payout.

It can be a fun option for a smaller-stakes wager to try to win big, particularly in sports like the NBA, college basketball or football, where you have many games played on any given day throughout the season. With certain sportsbooks such as FanDuel Sportsbook , you can also wager on a Same Game Parlay , where you can combine selections from the same game into one bet.

These are offered for a number of events and sports such as the NFL and NBA. For example, when the Dolphins played the Broncos at the beginning of the season, the Dolphins were favorites to win.

However, if you thought the Dolphins were going to win and you also believed Ronald Acuna Jr. Both would have to be correct for you to win. The more bets you add to a parlay the higher the payout — but the higher the difficulty of all your bets hitting too.

In this example, you can add another bet to the mix. With most online sportsbooks, you can make wagers on a variety of sports. For a third leg, you could add a bet on cornhole or a futures bet on college football.

One of the best ways to learn more about parlays is to log in to your favorite sportsbook and start combining bets together. Your bet slip will show you how much the parlay will pay out with wagers. You can add or subtract bets as you wish. You may want to parlay all favorites on an NFL Sunday to get plus odds on the team projected to win.

First online real money wager only. Bonus issued as non-withdrawable bonus bets that expire 14 days after receipt. See full terms at fanduel. Gambling problem? Call GAMBLER. Parlay Bets are incredibly popular as they can be one of the most lucrative wagers, but they come with increased difficulty with each selection you add to your parlay.

The unpredictability of sports is what makes it great and what keeps us all engaged in the action hooked. However, unpredictability and sports betting are not the best of friends, and in particular parlay betting, as just one bad beat on a parlay slip is enough to see the entire wager lose, regardless of how many individual winners you have alongside it.

With that in mind, our expert handicappers have created a few top tips for building a parlay to help you win your wager and make it a fun way to bet. Check out below for a table of the typical point spread parlay odds. A Round Robin Parlay is a type of bet that allows you to create multiple smaller parlays from a larger list of picks.

You may have seen the round robin option at your favorite sportsbook and wondered what it is and how it works. A round robin is a bet in which you simply create multiple parlays from a series of picks. The most common type of round robin bet is to choose three teams and create three separate two-leg parlays from them.

In the example above, you would have 3 separate 2-team parlays that look like this;. But the other parlay can still win to either see a profit or mitigate some of your losses. One of the key details to remember with round robin bets is that you are investing an amount per combination.

Check out all of the round robin parlay options, including the number of combinations and total investments in the table below.

If you want to place a bet online via mobile or on the computer then it is very simple, and not much different from a normal straight wager. All you need to do is head to your sportsbook and select all of your picks, whether they involve teams, totals or exotic bets.

Once you have multiple selections on your bet slip, you will see the parlay option appear, as shown below. The odds will update with each selection added, and when you enter your stake into the bet slip, it will also calculate your potential winnings. Some retail sportsbooks will also have parlay cards you can fill out and take to the window.

FanDuel Sportsbook is a great option for parlay bettors. With a wide variety of sports and markets that you can combine into parlays, the possibilities at FanDuel are endless. FanDuel Sportsbook is almost always competitively priced so you can rest assured knowing you are likely wagering at some of the best possible odds.

betting industry. This relatively new option is a great way to enjoy a wager on a primetime game or while tuning in to your favorite team.

At FanDuel Sportsbook, events that offer the Same Game Parlay can be found by their green SGP logo under the teams. The Same Game Parlay allows you to combine multiple wagers such as money lines, spreads, totals and props into one wager on the game.

There are many sports that lend themselves towards being good ones to bet parlays, but ultimately a parlay is typically a fun, longshot bet so whatever sports you enjoy or feel you know best are great options. With a parlay being a multi-leg bet, the best sports are often ones with schedules that include multiple games per day.

The best example of this and the most popular sport to wager on is the NFL. Football Sundays are great opportunities to try an NFL parlay, with anywhere up to 16 games on a Sunday there are countless parlay options from money line, spreads, totals or exotics.

If football is not your thing, then why not basketball? Both professional and collegiate basketball schedules have multiple games per day, and also with a wealth of markets to combine and choose from. An NBA parlay offers just as much variation as an NFL one, and in the collegiate ranks, tournaments like March Madness where you can see up to 32 games in the First Round, are fun opportunities to try to win big on a March Madness parlay.

Round robin parlays allow multiple parlays to be placed across several games. Bettors can choose multiple bets and then create parlays of various sizes involving those games, with each parlay variation requiring an individual wager.

For example, a four-team round-robin parlay can include parlays of two, three, and four teams. Any possible combination of winning bets that fits those parlays will pay out, however, you must place individual wagers on the 11 different parlay combinations. Many sportsbooks, especially those retail books inside casinos, will use a standard set of odds to determine parlay payouts.

Football parlay cards are very popular on NFL Sundays, as casual bettors look to risk a little to win a lot of money.

You can not use the same bet twice in a parlay. Every parlay is risky, and the chances of winning will differ. If just one of your games doesn't go your way, you lose the parlay. By their nature, parlays are high-risk, high-reward bets.

If you win one, your payout would be higher than if you had bet the parlay legs separately. Making smart straight bets will help with long-term winning, but betting a well-constructed parlay could payout big for you in the short-term, but in the long run, they are less likely to provide profit.

If your sportsbook allows you to cash out on in-play parlays, you can cash out when you feel you've profited and may not feel great about that final leg. If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so.

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US Betting Sites. Canada Betting Sites. US Online Casinos. Canada Online Casinos. Covers Account. Log in Create account. What Is a Parlay Bet?

Learn How Parlays Work Parlays are a popular sports bet that increase the possible payout of a wager. Covers Staff. What is a parlay? Is a parlay a good bet? What does a 3-team parlay pay? Can you parlay prop bets? Yes, some sportsbooks will allow you to parlay prop bets.

What does key parlay mean? A key parlay involves one bet that is used in multiple parlays. Can you parlay the same game?

What are the chances of winning a 3-game parlay? Do people win big on parlays? Is it better to straight bet or parlay?