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When it comes to wagering on sports, there are a bunch of options that a bettor can take. Choices are plentiful. It's not just picking and choosing which sports, which game, or which player to wager on either. Certainly those are all variables that come into place. But there are other wager types that can be exploited for a nice profit as well. One of these wager types is known as a parlay.

What Is A Parlay?

A parlay is one of the sportsbook wager types that can be made by linking two or more individual betting lines together. Sportsbooks will typically set a maximum number on how many lines can be linked together for a single parlay. For the parlay to win, every bet made within it must be won. The more bets made within a single parlay, the higher the profit margin goes up, but then so too does the level of difficulty.

These rules are common for all sports wagers offered by Bovada. All sporting events must take place on the date and at the site scheduled unless otherwise specified. Time changes within a day do not affect wagers. The most popular betting types are Spread, Win, and Total, not counting the proposition bets that are individual to each event. Is Bovada Available to US Players? Bovada Sports is both a legitimate online sportsbook for US bettors to explore and also the most preferred betting site.

The amount of money that a bettor can stand to win on a parlay wager varies on a number of different factors. The first is how many bets are made in that parlay. If it's only two, chances are the payout will be significantly less than someone who laid down a wager with five or six outcomes needed to hit correctly. The second variable is the payout for each individual wager. For example, a payout of five lines where the favorite is taken in all of them is going to be far less than if the bettor decided to go with all of the underdogs.

How To Make A Parlay Bet + Why They Are Popular

A parlay can give players huge wins if they are able to be executed successfully, which is one of the reasons that they are so popular. Few other bets can turn little risk into a big reward like a parlay. On this page, we talk all about parlays. Find out what they are, how to bet them, what makes them popular, and many more frequently asked questions about this type of wager that can be made. Bettors who are able to understand parlays and find out how to bet them have the potential to win big on betting lines.

Types Of Parlays

For those interested in betting a parlay, there are several different types that you can take advantage of. The first kind of parlay centers on the types of individual betting lines that you choose to put into your parlay. For example, taking the moneyline on several games, whether it be for the favorite or the underdog are options. A parlay doesn't have to be all one type of betting line. For example, a parlay can be made on one game against the spread, and then another game taking the moneyline, with no spread involved. Parlays can also involve the over/under point total of the game, which is another form of a moneyline on the payout.

Of course, parlays extend further than game lines as well. Player props and team prop odds can be wagered on in this format. However, when it comes to prop odds, sportsbooks will have their own set of rules as to how many are allowed to occur on one bet, and what those parameters are. Basically, you can parlay most types of bets together, although bettors tend to stick to more normal parlays.

Teasers

The other most popular form of parlays is the teaser. Teasers are parlays that adjust either the point spread or point total in favor of the bettor, at the cost of reduced odds. Say you are making a parlay for NFL Sunday that features the Steelers -7, the Seahawks +3, and the Over of the Patriots game at 50 points, for a combined +1000 odds. Sportsbooks will offer you the ability to tease that bet a certain amount of points. The most common teaser is 6 points, so a 6 point teaser on that parlay reduces the lines to Steelers -1, Seahawks +9, and over 44 points for around +250 odds. Teasers are a great way to win while reducing your risk.

Parlay Payouts

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What makes a parlay wager so appealing is the potential to win really big. There are instances where a $5 wager can profit thousands. It obviously depends on the variables we mentioned at the onset of this article. Primarily how many bets are contained within the parlay, and what those individual payouts are to add up to the parlay payout. Bettors like the idea of risking a little to win a lot, and a parlay is the best example of this. This is because a bettor can do a parlay and take favorites on the lines and still win big. A bet on large underdog in not required. Certainly to win the parlay all of the bets have to hit, which makes it difficult, but at the same time bettors have a lot of freedom.

How Much Can You Win From A Parlay?

Sportsbooks will all have their maximum limits on how much a player can win on a single parlay wager, but these are typically set very high. Parlay wagers have some of the highest profit margins and payouts of any bet made.

The amount of money that a player can win will depend on those wagers in the parlay. If a bettor is taking underdogs on a moneyline, the profit margin will be high. If they are taking favorites, it will be lower, but depending on how many bets are made in the parlay, could still be high. That's one of the fun things about a parlay as well, is that a lot of them are unique wagers.

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As a bettor, you are able to make up your own parlay as you go along, where the payout will be calculated for you by the sportsbook. For example, if you were to switch those moneyline wagers to bets against the spread, it would change the payout dramatically, because the idea of the spread is to level the field. There is much more variance on a moneyline, where payouts for a parlay can be huge. A spread is a bit more grounded, but can still have high profit margins when a bettor chooses to extend the parlay by picking a number of different games or bets.

Where Can You Make A Parlay Bet?

Licensed sportsbooks in the United States have the option to bet on a parlay. Unfortunately, you have to be in either Nevada or Delaware to place those bets. However, for the majority of Americans who are not in those two states, there is good news. American sports betting sites allow U.S. users to place parlay wagers. There are many sports betting site that accepts players from the United States, which provide a legal sports wagering option.

If we must name a single place to go to make these wagers, it would have to be Bovada, and here's why:

The sportsbook at Bovada is a great place for bettors who are looking into wagering on a parlay. Bovada provides great options that can be parlayed together to make for massive payouts when betting on sports.

Players from the United States are accepted here, with the exception of Delaware, Maryland, New Jersey, and Nevada. Aside from that, U.S. players of legal gambling age (18 at Bovada) and in their state are welcome to wager here.

There are many other online sportsbooks that feature parlay wagering options. Bovada is certainly a top-rated one, but any of these featured betting sites below have these options as well. Check out what the options for these sportsbooks are, and how to bet them. Also note, many of these bookmakers offer teasers + pleaser wagers too!

Bovada is one of the best sportsbooks around, and, as such, is a great sportsbook for parlay betting. Parlays are a fixture of the online betting community, as everyone loves to put down 50 bucks and come out with 10 grand. Bovada is a great website for betting parlays, as their website is one of the easiest to use in the business. With the ability to click bets into your betting cart, so to speak, you can construct parlays with the greatest of ease. Beyond that, Bovada is a site that is known for being an excellent odds provider, and a generous bonus giver. Basically, you can do whatever you want at Bovada, but they are genuinely uniquely good for parlay bettors due to how easy their website is to use.

BetOnline is a single-minded website. It’s built for people who want to do one thing: bet online. It’s right there in the name. BetOnline has an astounding amount of odds and wagers available on each match, each game, each set. It has odds on anything you can think of, from pop culture to the stock market to, of course, sports. As a sports betting website, it’s one of the best, with a ton of options available to those who make BetOnline their number one choice for sports betting. Signing up is pretty easy, and they make it clear how to do so. They have a good customer service program, as well as reliable bonuses. These factors combine to make BetOnline one of the better online wagering websites around.

More FAQs About Parlay Bets + Wagering

Is A Parlay A Sucker Bet?

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Conventional thought might lead to thinking that it may have been a sucker bet, but that is certainly not the case anymore. Bettors can certainly win a nice amount of money on a parlay. Now with that being said, choosing to do more bets within a parlay makes it more difficult. You don't want to overextend yourself with every parlay - that is not a smart way to wager. Parlays are quite popular though a sportsbooks these days.

What Sports Can Be Bet In A Parlay?

Most every sport will have the option to be included in a parlay, though check with the sportsbook you are visiting. They will have all of the information you need to bet a sports parlay in 2021.

Are You Allowed To Bet On Different Sports Within A Single Parlay?

Yes, you can go cross-sport with a single parlay. For example, lay down a bet on a team to cover the spread in the NFL, while at the same time tying it in with a game or two on college football, or Major League baseball.

Can You Make A Parlay With Bets Within The Same Game?

The answer to this question is both yes and no. Again, it will depend on the sportsbook you are with as to whether or not you will be allowed to do this. It can also depend on which sport you are looking into as well.

Can You Parlay First Half, Halftime + Quarter Bets?

This is along the same lines as to the bets within a same game question. The answer is yes, but it is also no. Check with the sportsbook to find out if you are able to do so.

What Happens If A Parlay Ties?

This is a common question asked, because when you are dealing with multiple wagers the likelihood of one or more bets pushing is higher. A push means that the betting line set by oddsmakers was equaled. For example, if a team favored by seven points wins by exactly seven points, it is a push, as no team covered. When it comes to a parlay, think of a bet that is pushed as just going away. If a bettor has laid down five bets in a parlay, and one of them pushes, the payout would go from five to four, and the parlay would remain alive because the bet was not a loss. The parlay is only lost when one of the wagers within it loses.

What Happens If A Bet In My Parlay Is Postponed Or Canceled?

If it happens to be that one of your wagers made within a parlay is postponed or canceled, the sportsbook will typically revert to their 'no action' policy. This is essentially the same process as a bet that was a push on a parlay. If one of the games you have is not played and there is no action on it, the number of bets within your parlay will simply be reduced accordingly. For example, if a bettor has a two-team parlay and there was no action, then it would be dropped down to just a single bet.

Since the whole reason we are here is to explain betting odds, we need to teach people how parlay betting works and help them understand things like payouts, rules, and other things that come up when placing a parlay bet. This is one of the things we talk about first because it is such a popular way to bet on a variety of games, but many people waste their bankroll on them. For just a few dollars, someone could conceivably win as much as a million dollars or more, but that thrill is why most people lose their money when betting on parlays. Of course, this is an extremely rare situation but using a parlay to build the payouts on several bets you're feeling good about is a common + profitable practice if you are on a hot streak.

I think of parlays this way. If you are confident enough in so many bets that you feel like you need to put them in a parlay, then you should bet them all straight as well. That way if you win 3 out of 5 for example, you will still win money or break even. As to where if you just bet one parlay then you will walk away with nothing more times than not. So, if you have $25 to bet a 4-team parlay, bet $5 on each team individually and then bet them all in a $5 parlay. You will be a much more profitable sports bettor if you stick to this philosophy.

Below is our complete rundown of what a parlay bet is in a way that you should be able to understand it. We try and break down all the different aspects of it, but please know that some sportsbooks have different rules and you may be able to do things on some sites but not others. Enjoy the page and we hope that we help you become better at sports betting by reading this page.

What Is A Parlay Wager?

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A parlay is a single bet that is placed down that includes more than one pick to win a game or cover the spread, usually between 2-10 teams. You will win your parlay bet if all of your bets are won that you included on the betting slip. But if you have even a single loss, then the parlay is lost and so is your money. And it does not matter how many of the games you won on the betting slip because ALL of them must win.

What Happens If There Is A Push Or A Tie In A Parlay?

If any of your picks in the parlay turn out to be a push, then that bet basically acts as a tie and the payout of your payout will be reduced if you won your other bets. In other words, if you have an 8-team parlay and one of those picks is a push or tie, then you essentially are left with a 7-team parlay. The push doesn’t signify that your parlay will be graded as a loss; however, your total winnings will be reduced as the sportsbook removes that “leg” from your parlay.

Why Do People Bet On Parlays

A parlay is enticing to bettors because of the high return on investment should the bet be won. The payouts for a parlay can be very high, and thus very rewarding. The more teams you take in a parlay, the greater the return and it is completely possible to win thousands of dollars with a $1 parlay if all your picks are correct.

Example Of How A Parlay Bet Works

Let's say that you placed a three-team parlay on the Falcons, Cowboys, and Packers covering their respective point spreads in their match ups. Typically, a three team parlay will pay out at 6/1. If all three of these teams cover the point spread, then the bet would be won. For every $100 wagered on this parlay, a $600 profit is made. If one of the bets was to push though for example, you would be paid as if you made a 2 team parlay bet, which would be 3 to 1, or $300. If any of the three teams loses then so do you.

How Do You Calculate A Parlay?

The easiest way to calculate is to simply go to an online sportsbook and start putting your bets in. You will be able to see the payouts for the parlay before you confirm the bet. If you look at the table below then you can see the payouts if you were to bet a parlay using regular betting lines that are set at -110. Any time one of your bets is different then -110 then the payouts of your parlay will be different depending on which way you are betting. If you are betting an underdog that was +200 for instance, then your payouts for the parlay will be much higher. And if one of them was a favorite at -200 then your payout will be lower.

We're sure you're ready to learn more about the parlay wager and the best online sportsbooks that allow users to make wagers using the parlay. Here's a tip: stick to the sports betting sites that have friendly parlay rules which allow you to jump across different sports + parlay wagers within the same game! Now, let's get on with the show...

Bovada Sportsbook - Best Sports Betting Site For Betting Parlays

When it comes to betting games, sometimes players only pick one game to place a wager on, and sometimes a lot of money can be one quickly. The reason that Bovada is so popular is that most players know that there are all the games that they can pick from and make money on. This opens eyes but another thing that sticks out on Bovada is the parlay bets that can be made on all of the games here on Bovada.

Parlay bets here have all the making of big cashouts! With parlay bets, there are games that you can pick that you know that are for sure wins and take a few upsets and that’s where the money that players can be will increase. Bovada odds set on all the bets offered are set up for players to cash out huge and all it takes is a player to take the chance on more than one game or one more than one prop bet.

SportsBetting Sportsbook - Tons Of Parlay Bet For All Sports

The reason that many players love to place bets on SportsBetting is because the odds are set up perfect players to win big. There are always great games going on no matter the sport so that means that there are plenty of bets that will show up and many of the time players will decide which prop bets are best for them. Most of the time players will see more than one bet that they really like and this is where parlay bets will come.

The thing is SportsBetting already has all the great bets so now when you put all these prop bets in the basket and make it one big bet, this is where cash will flow! SportsBetting is known for great prop bets so when you can tie them all together, this only means more players will come in and place parlay bets and win huge!

BetOnline Sportsbook - Best Sportsbook With Parlay Bets

Knowing that all the bets you are at the tip of your fingers are what Betonline gives to all their account holders. These bets are always exciting and the odds are set up for players win big. With the games are always going on, bets are always popping and that also more the features are filled with a lot of different bets.

Prop bets are everywhere on BetOnline and that means that parlay bets will be the best way for players with accounts. The reason for this is because when it comes to betting, the main goal is to win as much money as you can. BetOnline has great odds for every bet in different games so tagging different bets in one parlay only increase the winning. Picking 12 bets with a few underdog pick only scream a lot of winnings when a player hits on BetOnline.

MyBookie Sportsbook - Parlay Bets Profit Top Of Line On MyBookie

The bets that are set on MyBookie has always been very favored for players to win money on. The ultimate way to win is to take advantage of the bets that are here and set no matter the games or the sport. This is why most players come back to MyBookie and bring back other players as well. Sometimes picking the underdog to win only shows that it will be more money to be made. The thing that comes with betting the underdog is there is also a chance you can pick the underdog and place a bet on your favorite at the same time. This is called parlay bets.

These parlay bets can be placed and when you do that this only means more money can be won because of the multiple games that place are betting on. Even in the live betting feature, players could also place parlay bets as well. At the end of the day, betting is about profiting big, and here on MyBookie, parlay bets are one of the most profitable ways to win money. Adding all of the best you have on to one ticket and place big money on MyBookie will prove to profitable because of the odds set on MyBookie!

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More About How Parlays Work In Sports Betting

As the parlays increase, so too does the margin of profit and payouts. But the more games linked together on the parlay, the more difficult the bet becomes to win. Parlays usually can go up to as many as 15 games. It's also important to know that parlays are not made for you as a bettor on the sportsbook. You have the power to fill out your own parlay slip for the games that you want to place a wager on.

Betting a parlay does not have to be on the point spread either. When placing a parlay bet, then you can bet on either the spread, the money line, or a combination of the two. But on the money line, which is a wager on a game without a point spread, the payouts can be a lot different. If a bettor takes the favorite on the money line for every parlay, the payout won't be the near the amount than if one or more underdogs had been selected.

Is Betting A Parlay Worth It?

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While the major payouts and hopes of a changed lifestyle for only risking a few dollars may seem too good to be true, oftentimes it is. Still, you will hear stories about bettors who won a crazy 8-leg parlay where they turned $100 into a few hundred thousand. More often than not though, parlays are what give sportsbooks easy money. Sports betting can be difficult and if you are required to get every wager you make correct in order to win, you will find yourself running out of money much quicker in most scenarios.