What is a Parlay?

How do Parlays Work?

A parlay is a wager in which more than one selection is combined into the same bet. Every selection (called ‘leg’) in the parlay has to be correct for the bet to payout. There are many different ways to create a parlay, and bettors can be as flexible as they want. The payout increases for every additional wager placed, but so does the risk. A two-team parlay is the smallest parlay available, while a four-teams parlay or five, 10, 15, etc. will increase the payout and the risk of losing.

For instance, if you parlay the Warriors to win (Money Line) with the Yankees -1.5 (Run Line), your two-team parlay will cash if both outcomes will be correct. However, if only one of the two loses, your parlay will lose. In the same way, a 10-team parlay can be lost if one of the selection (or more) loses, even if all the others win.

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For instance, if you parlay the Warriors to win (Money Line) with the Yankees -1.5 (Run Line), your two-team parlay will cash if both outcomes will be correct. However, if only one of the two loses, your parlay will lose. In the same way, a 10-team parlay can be lost if one of the selection (or more) loses, even if all the others win.

Why Parlay bets are so popular?

Parlay bets are so popular because they are entertaining, especially when there are days with big slates of games available. They offer bettors the opportunity to turn a small stake into a huge win, and this is why parlays wins are the ones that make the headlines on social media. Realistically, however, it is important to remember that winning parlay bet is challenging, as for every selection you add into it, you significantly increment the risk of losing. Additionally, sportsbooks have a higher juice on parlays, as their margin increases the more ‘lets’ you add to your parlay bet. We suggest not exceeding three selections in a parlay bet to give you the best chance of success over time, although, in particular circumstances, you can even try to increase these to five. Overall, parlay bets are a great way to have fun when watching sports, and they can also make your day if things are going the way you have anticipated!