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Parlay betting

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Parlay betting is a popular form of betting where you place multiple bets on a single event. In addition, parlay betting is an attractive option because it can cover many outcomes in one bet. Also, it offers some additional flexibility over standard wagers that are made on individual events. Learn more about parlay betting, how to place a parlay bet and the best parlay betting sites below:

Parlay betting explained

Parlay betting is a type of wagering in which the bettor must pick multiple events to win for the parlay to be successful. A parlay is different from other wagers because it does not allow risk-free hedging. The bettor cannot hedge a failed parlay by placing bets on individual events in hopes of winning any money back.

A parlay requires at least two selections to win. However, you can choose as many as ten or more teams or sports players. Generally speaking, the more selections included in the parlay, the higher the payout if it wins.

Top betting sites with parlay betting

Below is a roundup of top betting sites to place your parlay bet on:

  • Tipico Sportsbook – Tipico Sportsbook is a popular betting site in the sports betting industry. Sportsbook Parlay betting is one of the most common ways to bet on sports. It allows you to bet multiple games at once. Moreover, if you win, you will get paid out as a single bet. This is different from regular bets that are placed on individual matches. With parlay betting, you only have to win one of your picks for it to be successful.
  • BetMGM Sportsbook – BetMGM is a sportsbook site offering parlay betting. The site has been in business for years and has built itself up as one of the leading sites for online sports betting. They offer their services to both Canadian and US customers. BetMGM offers to parlay bets on football, basketball, and baseball. You can also bet on other sports such as hockey, soccer, and golf. Betting on horse racing is also available on this site.
  • DraftKings Sportsbook – DraftKings is one of the most popular daily fantasy sports sites, with a massive user base and a huge variety of sports on offer. The site also allows users to bet on real-world events, with parlay bets available for football, basketball, and baseball.
  • FanDuel Sportsbook – FanDuel Sportsbook is the sister site of FanDuel Fantasy. An online sportsbook offers a wide range of sports betting options. It also offers parlay betting, which gives you the chance to win big money on any combination of bets
  • BetRivers Sportsbook – BetRivers is the best online sportsbook for parlay betting. They have the most competitive lines and some of the best bonuses around. Their website is easy to use, and they offer live betting. Bet River currently has a promotion where you can get a free bet bonus when you sign up with them.
  • PointsBet Sportsbook – PointsBet is one of the most popular sportsbooks globally that offers parlay betting. The site offers a wide range of sports and leagues to bet on, including American football, baseball, basketball, soccer, mixed martial arts, and others. Moreover, PointsBet’s parlay betting platform is pretty simple to use.
  • Unibet Sportsbook – Unibet Sportsbook is a good choice for sports betting beginners. The website is easy to navigate and offers hundreds of markets for various sports. You can place bets on both pre-match and live events. Unibet’s parlay betting feature allows you to pick several games and win when they all come in.

Types of parlay bets

There are two types of parlay bets are available, including:

  • True odds – A true odds parlay when all the events in your parlay must occur for you to receive any money back at all; otherwise, all bets in the parlay are lost.
  • Conventional – A conventional parlay is a betting option that offers the best odds for both the bettor and the USA online gambling site. This type of parlay is based on a single outcome, which means that you can only win if all of your picks come true.

Advantages and disadvantages of parlay betting

A parlay of the bet comes with its own merits and demerits. Take a look at some below:

Advantages

  • High returns – Your potential winnings are much higher than with a single bet. You don’t have to win all your selections to win the jackpot.
  • Exciting – Parlay betting is an exciting way to enjoy your favorite sport while also making money from your game knowledge. You don’t need to play each game to win with parlay betting; as long as all the teams you have chosen win their respective matches, you will win your bet too.

Disadvantages

  • Low chance of winning – Since parlay betting involves multiple games and teams, there is a much lower chance of winning than with other types of bets. You might be tempted to try your luck because the payout seems so good, but you should realize that if you don’t win all your bets, you could end up losing money overall.

Sports you can place a parlay bet

Below is a list of popular sports you can place a parlay bet on:

  • Horse racing – Horse racing is one of the most popular sports for placing parlay bets. It is particularly attractive because there are so many events within the sport that you can wager on. You can bet on the race itself or a particular horse to win (or place). Moreover, you can also bet on who will come in first, second, third, etc., or who will win each leg of a race (the first 3/4 of a mile).
  • Soccer – Soccer parlay bets are one of the most popular types of parlay bets. A soccer parlay is a single bet that covers multiple events in one game, including goals scored by both teams, yellow and red cards, and corners. The more events included in the bet, the higher your payout will be if you win.
  • Football – If you’re looking for a new way to make your NFL betting more interesting and fun, you need to try out parlay bets. With parlay bets, you have to pick multiple teams from the same league to win their games to get paid on your bet. If all of them win, you will get paid based on how many teams won and how much each team won.
  • Tennis – Tennis is one of the most popular sports to bet on and with good reason. In tennis parlay bet, you’re betting on multiple matches. When placing a tennis parlay bet, there are two different ways that you can go about wagering: straight-up or odds-on favorites.
  • Boxing – Boxing parlay bets are the most popular parlay bet in the sports betting world. A boxing parlay consists of multiple fights placed on one ticket. The odds for each fight will be different. Therefore, you will need to determine which fights you feel have the best chance at winning and then place your money.
  • Badminton – A badminton parlay bet is just like any other parlay; you need to pick the winner in each game for your bet to win. You must pick at least two games, but you can choose as many as 6 different matches to place this bet.
  • Snooker – Snooker parlay bets are a great way to add excitement to your snooker betting experience. A snooker parlay is a type of multiple bet where you need to pick the winner of several matches. It’s similar to a football accumulator, but with more matches involved.
  • Pool – Pool parlay betting is a popular form of betting on sporting events where multiple events are combined into one wager. The odds for pool parlay bets vary depending on which sportsbook you choose to place your wager on. The general rule of thumb is that the more games you combine into one wager, the lower the payout on each game outcome.
  • Baseball – A baseball parlay bet is a type of wager where you pick three or more individual baseball games and combine them into one betting ticket. The odds might be slightly better than betting on just one team to win because of the added risk of placing multiple bets at once.
  • MMA – MMA parlay bets are a great way to make extra cash when betting on MMA. They’re also going to be much more profitable than your standard parlay bet. The reason for this is that MMA is a sport that has very little in the way of upsets when it comes down to it.
  • Cricket – Cricket parlay bets are great for those who love cricket and want to place a bet on the game. In addition, cricket parlay bets are a great way to increase your odds by combining multiple bets into one large wager. This allows you to win more money if you’re right about which team will win or who will score more runs in an individual match.

FAQ

Is a parlay the same as an accumulator bet?

No, a parlay is not the same as an accumulator bet. A parlay is a bet that allows you to win multiple bets if the first one wins. You have to pick all of your winners correctly in an accumulator bet. If you get one wrong, then you lose all of your money.

Do parlay bets have a minimum deposit amount?

No, there is no minimum deposit amount with a parlay bet. You can bet as little or as much as you like on an individual parlay. The only rule is to bet at least $1 to cash out your winnings.

Do all betting sites offer parlay bets?

No, all betting sites don’t offer parlay bets. Parlay betting is not available on all sportsbooks, and even the ones that do offer it may not have the same features and functions. Some sites only offer parlay betting on specific sports, while others allow you to make parlays on various sports.