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What is parlay betting?
A parlay bet is form of sports wagering where a single bet combines together two or more individual wagers and is dependent on all of those wagers winning together.
For example let’s say you want to bet Patriots -7, Packers -3, Rams -3 and Saints +3 in a parlay all four teams would have to cover the spread for you to win your parlay wager. However, the good news is that your returns from a $100 wager would be around $1,200 if each leg is the standard -110. A parlay is a great wager if you’re looking to win a big amount of money from a small stake.
How do you win a parlay?
To win a parlay wager all individual legs must win. For example if you have five teams then all five individual bets must win.
Placing a parlay bet
If you want to place a parlay online via a mobile or computer then it’s very simple. All you need to do is select the teams and/or totals and there will be a parlay option in your bet slip.
If you’re in a casino or sportsbook then you can either tell the ticket writer directly which teams or totals you want in your parlay and how much you wish to wager. The other option is to fill out a parlay card which are readily available in sportsbooks.
Types of parlays
The most popular types of parlays are against the spread parlays and teasers.
Parlay Payouts & Parlay Odds Example
An example of traditional parlay card which shows the typical payouts for an up to 10 team parlay bet based on -110 odds and $100 stake.
|2 Team Parlay||2.6 to 1||$260||$360|
|3 Team Parlay||6 to 1||$600||$700|
|4 Team Parlay||11 to 1||$1,100||$1,200|
|5 Team Parlay||22 to 1||$2,200||$2,300|
|6 Team Parlay||45 to 1||$4,500||$4,600|
|7 Team Parlay||90 to 1||$9,000||$9,100|
|8 Team Parlay||180 to 1||$18,000||$18,100|
|9 Team Parlay||360 to 1||$36,000||$36,100|
|10 Team Parlay||720 to 1||$72,000||$72,100|
NFL parlay picks
We have free NFL parlay picks for every week of the season from the most popular NFL beting markets – against the spread, money line and over/under the total. Football parlays are an extremely popular form of betting because you have the chance to win big and the early betting lines offer plenty of value.
A popular form of parlay betting is if you identify early lines which look priced incorrectly, if you parlay them then you’re amlifying the value. For example if you think the Patriots should be -7 and they open -6 and the Bills should be +2 and they open +3 then you’re getting value based on your projections.
NBA parlay picks
We have free NBA parlay picks nearly every day of the season from the most popular NBA beting markets – against the spreadm, money line and over/under the total.
Another popular form of parlay betting is parlaying big moneyline favourites. It’s a very simple strategy and reasonably low risk. All you need to do is pick big moneyline favourites you think will win and parlay them together. For example Warriors at -380, Lakers at -420, Celtics at -320 and Spurs at -360, parlaying these teams in a $100 wager would return $262.28 which isn’t bad at all.
NHL parlay picks
NHL is popular for parlay betting because of the variety of betting markets you can parlay. The money line, puck line and totals are all perfect for parlay betting. A lot of hockey games are close scoring so taking the underdog on the +1.5 puck line in a parlay can be a great play. If you want bigger returns then using the money line option on favourites or dogs is an option.
MLB parlay picks
MLB money line parlays are most popular because of the game odds, the underdog and favourite are often closely priced so the returns are often large. For example if we want to bet a three team money line parlay on favourites of Red Sox -184, Yankees -170 and Mets -168, $100 wager would return $291.06 which is a great return from three favourites winning.
NCAA parlay picks
It’s not just the professional sporting ranks our free parlay picks cover. We also have NCAA parlay picks for college football and college basketball, this includes bowl games and March madness.