Parlay Bets
Parlay bets are offered by every good sportsbook and in a nutshell they allow you to combine many bets, with the minimum being two, into one bet, with each leg of the bet needed to win in order for you to collect a payout. There are a few alternative names for this type of bet with UK sportsbooks referring to them as accumulators, or “accas” for short, and they may also be called multi bets, however all US sportsbooks and players will refer to them as parlays or parlay bets, and they’re an extremely popular type of wager. Your parlay bet may be made up of different sports, for example you could combine an over 2.5 goals soccer bet with an NFL moneyline bet, and even add in an NBA totals wager, with the main rule being that there must be two legs, or wagers, on the parlay. You'll see references to two team parlays, which may also be called doubles, and three team parlays etc, and all good bookmakers provide easy to use betting slips that allow you to place these types of bets with ease. Parlay bets are popular for many reasons as they provide the potential for small parlay wagers to turn into big payouts, especially when many bets are combined, and they also provide huge amounts of entertainment. There are of course risks involved, with the biggest of those of course being that each of the legs of the bet need to win to collect a payout, however they’re still enjoyed immensely, especially by more casual sports bettors who maybe wish to have multiple bets on any given NFL Sunday, as an example.
What Are Parlay Bets?
Having established that a parlay bet is basically any bet with two or more legs, there are a few more details that should be noted, especially around what is so appealing about parlay bets. The main appeal of parlay betting is the ability to combine many bets into one, and turning a small layout into a big payout. The more legs you have on your parlay, the larger the odds and therefore the bigger the payout, and many sportsbooks will offer parlay tables with fixed odds if you're betting same sport parlays, and you'll also see parlay calculators that help you see your potential returns on a multi-leg bet before placing it. There are downsides of course, and the fact that each leg of the bet needs to be a winner before a payout can be collected, is the big one.
How Does Parlay Betting Work?
Parlay bets are easy to place and all of the best online sportsbooks and although the betting slips will differ a little from book to book you'll never have an issue in getting your wager on. Once logged in to your sportsbook of choice you'll simply need to choose the sport and game you wish to wager on and create the bet be that a totals wager, moneyline or spread bet. On the betting slip you may see a box to check that indicates you're placing a parlay and it’s simply a case of browsing the wagering options and building your bet as you wish, remembering that you may combine sports and even place single game parlays. As you create the bet you'll see the odds at the foot of the betting slip and if you like what you see you select your betting amount and place the wager. To calculate the odds in a different way, many books will provide a parlay calculator that allows you to see odds and play around with your betting options, however the bottom line is that parlay bets are simple to place and all good online bookies betting slips are simple to use.
The Benefits and Drawbacks of Parlay Bets
The obvious benefit to parlay wagering is the fact that you'll be placing a relatively small bet amount with regards to the potential payout and of course, the more legs you have on your parlay bet, in general the bigger the payout, however that does of course come with risks attached. The big drawback is that each leg needs to be a winner and even one loss creates a losing wager, however that doesn’t stop these type of bets from being extremely popular with another benefit being the excitement that parlays can provide. Many US bettors will place parlay bets that provide potential action all day or even all weekend long and should those first few legs of the wager come good, then, as you can imagine, the excitement levels rise accordingly, and there are in fact a few different types of parlays that you may make.
Types of Parlay Bets
The various types of parlay bets include teasers, round robins, same game parlays and progressive parlays and they all involve tweaking the wager a little and therefore changing up the odds too. You may for example place a teaser into your parlay, which involves moving the spread to a more favorable wagering option, and of course as you ‘tease’ the spread to make it easier for your selection to win however that will reduce the odds on that leg of the bet, and therefore the overall odds of your parlay. Same game teasers speak for themselves and you may mix up various types of bets on a specific game and round robin parlays give you a different approach in that not all legs of the bet need to win for you to collect a payout. For example you may make a 3 team round robin parlay, and need only two selections to win to receive a payout, however the odds and payout are obviously smaller.
Strategies for Winning Parlay Bets
There are a few tips, tricks and strategies that many players use when parlay wagering in order to try and secure a win, and possibly the big one is to limit the amount of legs to your parlay as while for example, placing a 10 team parlay will for sure provide great odds, it also provides 10 chances of losing the bet. Many bettors will also stick to the same sports, using their own knowledge to their advantage and it’s also worth checking out if your sportsbook of choice gives you parlay boosters, which is an extra percentage win, should all legs come good. There is of course no sure fire way of winning any bet, but by limiting your options, maybe betting on the same game or sport and using any bonus or promotion that the sportsbook offers will always help.
Top Parlay Sportsbooks
Every good US and Canadian online sportsbook will allow you to place parlay wagers and each will provide a simple to use betting slip that allows you to place these types of bets with ease. The major books of BetUS, Bovada and BetOnline are top choices however there are plenty more and some will provide great parlay promotions too, while all will provide you with a fantastic welcome bonus and plenty of ongoing player rewards.
Using Parlay Calculators
Parlay calculators are a great tool for working out your potential wins before placing your bet and while many online sportsbook will provide one, there are also many to be found online. These calculators ask you how many legs your bet will have and what are the odds on each leg. It’s a simple case of filling in the fields and allowing the calculator to provide you with the odds. Using a calculator is a good way to not only work out your potential returns but to also see what those odds are like should you remove a few bets or add on even more, allowing you to manage the risk much easier.
Same Game Parlays
Same game parlays provide intense action for a particular game, and they work just like a regular parlay in that you'll need to choose multiple wagers and create the parlay. The same rules apply in that if one leg loses then the bet loses, however they do provide excellent entertainment and are perfect for televised games. When creating a same game parlay, and using NFL as an example, you may combine the moneyline with the total rushing yards of a single player, and maybe with the total amount of points, and for special events, such as the Super Bowl you'll see many same game parlay promotions that enhance your odds and boost your potential payout. The plus point of same game parlays is the immersive action and the chance to score a big win, however the risks remain the same as with other types of parlay bets in that the more legs you choose, the riskier is the bet, and when one leg loses, so does your wager.
The Latest Trends in Parlay Betting
Modern online sportsbooks will now offer so many analytical tools and these are always worth checking out as they provide inside info on all teams, games and also where the money is being placed. Taking a dive into the information that your book, or any independent site provides is never a bad thing and there’s usually a whole lot of it. Many players will also use in play bets as part of their parlay and it’s always worth checking out the bookies promotions for enhanced parlay odds on certain events or games, and you'll also see some books that offer a percentage win bonus should all legs come in.
Parlay Betting in Conclusion
Parlay betting offers the type of excitement that single bets don’t as with multiple wagers on a single game or throughout the weekend schedule, that simply provides more entertainment, and of course potentially much more bang for your buck. The opportunity to cash out a big win for a small bet amount is, for many players, very appealing and many bettors will place them as part of their sporting weekend entertainment. The best online bookies make it so easy to place these types of wagers, and the parlay promotions give you even more incentive to make them, while the parlay calculators let you know just how much you could be winning. It’s worth remembering that you may create your parlay across many sports and games and there are no timeline restrictions, meaning that you may even use a futures bet as part of a parlay, as well as live bets and more, providing the type of betting entertainment you're looking for, and delivering a unique type of betting action. You'll find all of the info on parlay betting right here with resources that allow you to make the most of this kind of wager, and how to make the most of them.