Do you like making long-shot bets with high payouts? That’s where the thrill of parlay betting comes into play. A parlay is like a sports betting combo meal – instead of just one pick, you bundle several bets on different games into one package. However, there is a catch. Each bet within your parlay must hit for you to see any return. It’s an all-or-nothing deal that can lead to some serious payouts, as well as bad beats.
So, how do you place a parlay bet? First, navigate to your desired sport and select two or more games. Then, add each selection to your bet slip. On most online sportsbooks, there will be an option to combine these into a parlay rather than individual wagers. Enter your stake and your potential winnings will be calculated for you. Remember, while parlays offer larger payouts due to compounded odds, they also come with increased risk since one wrong pick can spoil the entire bet.
Let’s say you’re eyeing an NFL Sunday lineup and want to create a parlay with three teams: the Baltimore Ravens -7.5 over the Miami Dolphins (-110), Jacksonville Jaguars +10.5 over the Indianapolis Colts (-110), and New England Patriots -3 over the New York Jets (-110). If all three teams cover their spreads, your payout is significantly higher than if you’d placed individual bets on each game. But if even one team fails to cover, the entire parlay is lost.
Parlays can be across multiple sports. It can include point spreads, moneylines, totals, prop bets, and in some cases, futures. Same game parlays often combine several point spreads with an outcome. These are usually correlated, meaning the payout is lower than different events parlayed together.
Same game parlay tip: Some prefilled same game parlays shown in sports betting app menus offer worse odds than building the ticket yourself. Wagers recommends putting the same card together off the board. You may find that the payout is higher when you build the bet yourself.
Payouts
Parlays offer big payouts when they win. It is important to bet responsibly, as you should expect many will lose before hitting a big ticket. The more teams on a card, the more it is like a lottery ticket. Below are the payouts often found at online sportsbooks. Many sportsbooks cap at eight or ten leg-parlays. Payouts vary on the larger odds.
- 2 legs: 13/5
- 3: 6/1
- 4: 10/1
- 5: +2000
- 6: 40/1
- 7: 80/1
- 8: 150/1
- 9: 300/1
- 10: 600/1
- 11: 1100/1
- 12: 2000/1
- 13: 3000/1
- 14: 6000/1
- 15: 10,000/1
Pushes on a Parlay Card
A parlay card or ticket inevitably has a pushed leg. This means it landed on the point spread or the moneyline game ended in a tie. Most parlays drop a pushed leg from the ticket. For example, a four-team parlay with three wins and a push pays out as a three-teamer. However, there are exotic parlay cards where ties win or lose. Always read the parlay rules to ensure you know what happens when a leg pushes.