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Parlays Picks

The Best Sports Free Parlays Betting Picks

Parlays are very popular when it comes to sports betting. This is because there are so many stories of enormous parlay bets hitting for lots of money against all odds. Scroll below to find the best parlay picks released by our top experts.

Today’s Best Parlay Picks

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Odds +627

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Wednesday's NBA Parlay

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4 Game Parlay Picks

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Cross Sport MEGA Parlay Picks

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Wednesday's NHL Parlay

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Mavericks vs Clippers Same Game Parlay

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Chiefs vs Eagles Same Game Parlay

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The Best Sports Parlays Betting Picks

But what is a parlay, and how does it work? Is it advisable to bet on parlays? Where can you get reliable parlay picks from experts? Below, we will cover all these topics to help you better understand what parlays are about and how you can make the most of the opportunities.

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What Is a Parlay Bet?

If you visit other countries, you will notice that parlays are called differently: in the UK, for instance, they are called “accumulators,” and in Europe, “multiples.” Whatever the name, the concept is precisely the same as a parlay bet, which is simply multiple wagers combined into a single bet. A parlay will roll over the winnings from every individual wager into the next leg of the wager. It is important to note that each “leg” or individual bet in the parlay must win for the parlay to be graded as a winner. This complicates things, especially when wagering on parlays with many selections.

On the other hand, the payout can be very significant if you manage to get all the legs correct. This is why big parlay wins make headlines and contribute to the popularity of this exciting way of wagering on sports. It is worth also considering that sportsbooks’ margins on parlay bets are higher than those on single bets. This is because each ‘leg’ of the parlay has built into the odds the ‘juice’ of the sportsbook. Similarly to the potential payout, this margin is also multiplied, making parlay bets more challenging in the long term for bettors. Of course, there are exceptions and opportunities with this bet type, which we will explore here.

What Is the Payout on a Parlay Bet?

The payout of a parlay depends on how many selections have been included. The more selections, the bigger the payout as the risk increases. So all you need to do to work out the payout of a parlay bet is multiply the payout of each “leg” of the parlay. Therefore, the parlay payout will be significantly bigger than the payout you will get by backing each leg separately.

The Downside of Parlay Betting

Many will tell you that parlays are a poor way to bet on sports, and this is generally true if you look at the long-term expected value. For a parlay to have a positive expected value (+EV), almost all the bets included in the parlay would need to have a positive expected value. This is very unlikely, so most parlays favor sportsbooks, especially in the long run. The proof of this can be found in the revenue breakdown of any legal sports betting site. With very high margins, sportsbooks tend to keep a larger portion of the many parlays they take.This is due to decreasing winning probabilities as more legs are added to a parlay bet.This is why you should be careful not to be dragged into huge parlays just because the potential payout is appealing, as you would almost certainly give your money to the sportsbooks.

The Upside of Parlays

Despite what was just said, there are still some excellent reasons to enjoy parlay bets. Firstly, bettors love to place small bets that have the chance of winning big. This is also why people like to play the lottery. Many bettors won’t care about a -EV bet as they are not trying to make long-term money. However, placing a small bet on a six-teamer with very slim chances of coming home still brings good entertainment. As long as you bet responsibly, there is no harm in having fun by placing parlay bets. Additionally, +EV parlays exist, especially considering that these bets have few selections. It is not uncommon to find two or three selections that have positive value for the bettors: by combining these together, you will stand a chance to come out on top even by wagering consistently on parlays.

What exactly are correlated parlay bets?

Correlated parlay bets are wagers in which winning one bet increases the chances of winning the other.For instance, you could parlay the first half’s total with the game’s total over. In the past, sportsbooks prevented you from placing such correlated parlay wagers, but this has now changed. With the introduction of “same-game parlays” (SGPs), US bettors can now place correlated events in the same game into a parlay bet. It is important to note that sportsbooks adjust the combined odds to consider correlation, which kills the +EV aspect in most cases. Having said that, there are still some good opportunities to explore, especially if you believe in having an edge on most matchup odds.

If the game is canceled, what happens to my parlay bet?

As we have seen, parlay bets are made of multiple legs, so there are situations where a game in the parlay gets canceled for whatever reason. In this case, the bet simply comes off the parlay, which becomes a smaller parlay. In this scenario, the payout will be reduced as the odds will be smaller, but the likelihood of winning the parlay will increase as there will be one less selection to consider. Although the handling of cancelled games within parlays tends to follow this norm, it is always advisable to check your sportsbook’s rules to get the full details on how they handle the different situations regarding different bets.

Types of Parlays

There are several parlays, but the most popular are round-robin parlays and teasers. Let’s see in more detail what these are.

Round Robin

A Round Robin wager involves placing multiple parlay bets all at once. Basically, the bettor will select from 3 to 8 teams or totals in the Round Robin. After that, they will choose how many teams or totals they want to tie together for the Round Robin. The combination of teams will indicate how many parlays the bettor has: for instance, for a Round Robin with eight teams, there will be a total of 28 different parlays if they choose two teams. For a three-team parlay, there will be 56 different parlay tickets, and so on. The ticket will cost the amount selected for every parlay.

What is a teaser parlay bet?

A teaser parlay bet is similar to a traditional parlay where the bettor can pick multiple teams or totals. The main difference, though, is that there aren’t moneylines allowed with a teaser, and also, the bettor has the capability of moving each point spread or total plus or minus a certain number of points. As a result, the bets become easier to win, and the total pay out is less than that of a traditional parlay.Teaser bets can move the point spreads or totals from six to 10 points, however, each leg of the teaser must use the same number of points. Those legs of the teaser can go in opposite directions. For instance, the Kansas City Chiefs’ -7 spread can be moved in a teaser bet to -1. Meanwhile, the Houston Texans’ point differential will be increased by six points, from +4 to +10.

Similarly to a regular parlay, the more selections added in a teaser parlay, the higher the potential payout. Since different sportsbooks have different odds and rules, the teaser bet options and payouts might vary. We suggest you check with your sportsbook before placing the teaser to understand all the conditions involved.

What are parlay cards?

One of the most popular ways to bet parlays in casinos is to use parlay cards. These are long, narrow cards where bettors can fill in the numbered circle of the side of the point spread they want to include in their wager. Once the teams and totals have been picked, the bettor can present the card to the ticket writer in the sportsbook, along with the amount they are willing to wager. These parlay cards are particularly popular during the football season, however, there are many different types of parlay cards available, which include several varieties of teasers, ties win, and reserve teaser cards. With the increasing popularity of parlay cards, we are finding that many sports betting sites and mobile sports wagering apps have started to add parlay cards for their web and mobile bettors.

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John Pentin
John was born and raised in London, John has always been in love with American sports. He started to write football articles back in 2006 on his own blog and has also worked for several newspapers. John other passion was betting and has worked as a trader for several top sports book in the UK. As sports trader and has joined leading UK betting tipping site BettingTips4You in 2013 and he is now head of content. He has a great passion for US Sports so hasn't wasted the opportunity to write also for NewJerseySafeBetting, now that online sportsbetting has been legalized in the state.