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Parlay Insurance

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When it comes to betting, you do not want to take any chances. You want to make sure that you get the winnings that you deserve. And that’s where parlay insurance comes into play. It’s a form of insurance that protects your betting account from losing all its money due to a losing parlay bet. This guide will talk about what this insurance is, how it works, and how to get a parlay insurance.

What is parlay insurance?

Parlay insurance is a type of sportsbook promotion that allows you to hedge your bets by guaranteeing that you will get paid if at least one of your selections loses. If you want to buy it, you have to place your bet and pay a small fee. That fee will increase the value of your parlay, meaning that the payout is higher than it would be without insurance. However, if one or more of your picks loses, you won’t receive any money from parlay insurance because it does not cover losses.

Betting sites that offer parlay insurance

Many online betting sites in the US offer this type of insurance. Here is a breakdown of popular betting sites where you can use Parlay insurance:

  • BetMGM – BetMGM is a parlay betting site that offers an insurance policy for your bets. The insurance covers the first three picks of your parlay, so if one or more of your picks loses, you get your money back on the other two selections. This is a great option for those who like to play parlays but don’t want to risk losing their total bet. If you lose more than one selection in your parlay, you still get paid out on the other two picks, as long as they win.
  • FanDuel – FanDuel is a fantasy sports site that allows players to place bets on professional sports and compete for cash prizes. The FanDuel insurance policy was introduced in 2014, and it’s only available for NFL games. If you have an active line-up on the FanDuel site, you’re eligible to participate in the free parlay insurance. The policy covers losses incurred when your bet loses by more than 10 points. If your parlay loses, you can get up to $200 back as part of their insurance policy. You can use the money to place another bet or withdraw it from your account. There are some restrictions on how often you can use FanDuel’s parlay policy: You can only make one claim per week, and a maximum payout of $100 per day. You also need to wait 24 hours before making another claim.
  • William Hill – William Hill is a famous brand in the online betting industry. William Hill started in the betting industry in 1934 and remains a pioneer in the field for many years. Thus, making it one of the most trusted betting sites in the world. The site offers a parlay policy on all sports and can be accessed through its mobile app and website. It’s also possible to place parlays on horse racing and other events by calling their customer service team.
  • 888 – 888 Sportsbook offers a variety of betting options, including parlay insurance. The odds offered by this site are high quality, and they offer a large selection of sports to bet on. There is also an option to view live streams from many different sporting events through their website. This makes it easy for customers to find exactly what they are looking for and place their bets quickly.
  • BetWay – BetWay is known for its sportsbook and casino games, but the site is also a top location for parlay bets. The sportsbook offers several parlay options and a special Parlay policy feature. The site’s insurance policy allows players to protect their bet if one of the selected events loses. If you bet on two horses in a horse race and one of them loses, your entire parlay will be refunded if you have Parlay Insurance active on that bet. Parlay Insurance is available for all sports other than horse racing and MMA, where it’s subject to restrictions.
  • Caesars – Caesars is an online casino and sportsbook that provides parlay insurance to its users. The site does not accept US-based players. However, it does offer several deposit methods for non-US players. Caesars offers parlay policy to players on both sides of the Atlantic. The site offers a variety of sportsbooks and has a large selection of games from various developers. The sportsbook also offers casino games and a live casino section that includes blackjack, roulette, and baccarat.
  • BetRivers – BetRivers is a sportsbook that offers parlay policy. They are one of the few sites that offer this service, and it’s a unique proposition. In short, if you have a parlay and one of the picks loses, BetRivers will refund your wager. If all picks lose, though, you’ll lose your entire parlay. The sportsbook remains active for years and has a good reputation in the industry. They accept players from across the globe, but they are based out of Panama City, Panama.
  • SportingBet – SportsBet is a UK-based sports betting site that offers parlay insurance on major sporting events. SportingBet offers parlay insurance on all major sporting events, including football, tennis, rugby union, and basketball. Parlay insurance is offered at an additional cost per event and is available on both win and lose bets.
  • DraftKings – DraftKings is a website where you can bet on daily fantasy sports. It has been around since 2012, so it’s one of the oldest daily fantasy sports websites. Moreover, the sportsbook offers to parlay insurance for all types of bets, including single-game propositions (like who will score first in the Super Bowl), double-up wagers (on the result of a game), and team totals (how many points a team will score). The site also offers parlay insurance for its many sports, including football and basketball. DraftKings’ parlay policy is set at 100 per cent, meaning that if your bet wins, you’ll be paid out at full value even if you have already placed another wager on the same game or event.
  • PointsBet – PointsBet is a sportsbook that offers a lot of betting options. It offers parlays, teasers, and other types of wagers that are not available in many other sportsbooks. The site is owned by Proline Interactive, which also owns Sportsbook. ag and Sports Interaction. PointsBet also offers parlay insurance at the bottom of the screen after placing a bet. When you click on it, you’ll see your payout listed and how much you must pay to buy insurance on that particular parlay.

How to use parlay insurance

When you place a wager on multiple events or games in one wager, you might be concerned about losing all of your money if one of your selections loses. This option is available in some US sportsbooks to protect you from this scenario. Hence, it essentially allows you to “double down” on the rest of your picks. If the parlay doesn’t hit, the book will refund half of your original wager (up to 100% depending on where you’re betting).

For example, let’s say that you want to bet on three NFL games but don’t want to risk losing all of your money if just one of them goes against you. You could purchase a parlay policy for half of your amount and then place bets on all three games separately without worrying about losing all of your money if one or two teams lose.

Is parlay insurance worth taking on betting apps?

Yes, parlay insurance is worth taking on mobile sports betting apps. It is always better to be safe than sorry. And if you are going to be placing bets on sports, it is always a good idea to take out some insurance policy. This insurance policy is basically what it sounds like: a policy that protects your bet against losing. If you win the bet and it pays out less than what you originally put into it, you will receive the difference from the betting site.

FAQ

Is parlay insurance popular in the US?

Yes, parlay insurance is becoming more and more popular in the US. It started with sportsbooks, but you can now buy the insurance from online casinos. This is because it gives you a chance to hedge your bets and minimize your losses if you lose all of them.

Can I get parlay insurance on any sports in the US?

Yes, you can get parlay insurance on any sport in the US. The only exception is that most sites do not cover parlays involving horse racing or greyhound racing. Also, most sites do not cover parlays involving MMA or boxing.

How to check if a betting site offers parlay insurance?

If you want to check whether a betting site offers this insurance, you need to look for the Parlay Insurance icon on their website. In case the icon is present, you can be sure that the betting site offers this type of insurance coverage. You can also ask the betting site's customer service if they offer this type of insurance.