Best Parlay Betting Sites & Apps 2024

Best Parlay Betting Sites & Apps 2024

Table Of Contents:

Now that sports betting is legal in a number of states, there are so many sportsbooks on the market. All the sportsbooks are looking to attract new customers and to do so, they are looking to give customers what they want. 

Parlays are extremely popular among sports bettors because they allow you to bet a little in order to potentially win a lot. Sportsbooks need to make sure they offer a good experience for placing parlays. In this article, we evaluate the best parlay betting sites in the industry.

🔥 Top 5 Parlay Betting Sites

The table below shows our top sportsbooks based on the experience of betting parlays. We looked at factors such as the odds, the available markets and the sign-up bonuses available to new customers.

SportsbookWelcome Offer + CodePickswise Rating
BetMGM
BetMGM Logo
100% Deposit Match up to $1500 + $25 on the House
🦁🦁🦁
5/5
DraftKings
Draftkings logo
Bet $5, Get $150 Instantly
👑👑👑
4.9/5
Caesars
$1,000 First Bet on Caesars
🔥🔥🔥
4.8/5
bet365
Bet365 icon
Bet $5 and Get $150 in Bonus Bets OR $1,000 Back If Your First Bet Loses
💰💰💰
4.8/5
FanDuel
FanDuel Logo
Bet $5, Get $200 in Bonus Bets If your bet wins + daily boosts
🏀🏀🏀
4.7/5

💻 Parlay Betting Sites

In this section, we get into the details of each of our top parlay betting sites. We highlight the features that make each sportsbook great for betting parlays, plus explain the current welcome offers available with each sportsbook.

BetMGM Parlay Betting

BetMGM is an excellent choice for those looking to place parlay bets. We have found that BetMGM offers extremely competitive odds, which is a major component when building parlays. When combining selections to build a parlay, you want to be sure you are receiving good odds so that the parlay will produce a nice payout if it wins. 🔥 Get started with BetMGM now, and then learn all about their new-user promo!

🎁 BetMGM welcome offer

BetMGM is offering new casino players a 100% deposit match up to $1,500 + an additional $25 on the house.

DraftKings Parlay Betting

Next up on our list of best parlay betting sites is DraftKings. DraftKings earned a spot on this list because of the wide variety of markets available. This is important to parlay betting because it gives you the ability to choose from several different options to add legs to your parlay. The more options available, the more likely it is you will find a selection to include in your parlay. USE THIS LINK 🔗 to join DraftKings now, and no promo code will be needed to initiate a sweet starting bonus.

🎁 DraftKings welcome offer

New members who sign up for a new account with DraftKings Sportsbook will receive the chance to earn $150 worth of bonus bets by risking just $5. You don't even need a DK promo code. After signing up and depositing $5+, you can wager $5 or more on any betting market without worrying if you win or lose. Win or lose, you'll automatically earn six $25 bet credits from DK.

Caesars Parlay Betting

Caesars Sportsbook is a great sportsbook to use for parlay betting. Caesars has an amazing mobile app that makes betting parlays extremely easy. Simply download the mobile app and join Caesars here 🤝 with promo code PICKSWISE1000, then you can browse the many available markets to build a parlay with just a few taps on your mobile device. You can then view the status of each leg of the parlay right from the palm of your hand. 

🎁 Caesars welcome offer

Caesars is offering first-bet insurance to all new customers who sign up for a new account and place a first deposit of $10+. If your first wager loses, you'll get your wager amount back in a bonus bet worth up to $1,000. Just enter the Caesars promo code at sign-up.

bet365 Parlay Betting

Next up on our list of the best parlay sportsbooks is bet365, which has a few key features that makes it a great sportsbook for parlay betting. bet365 is known for having a wide variety of alternate lines, which gives even more options to use when building a parlay. Since you need to win all of the legs of the parlay in order to profit, selecting the best legs is crucial. With bet365, you are sure to find great selections to use in your parlay. 👥 BECOME A bet365 MEMBER TODAY! 👥

🎁 bet365 welcome offer

New Bet365 customers can choose between two welcome offers. The first gives $150 in bonus bets from a $5 first wager, whatever its outcome. The second is first-bet insurance worth up to $1,000. You'll get your first bet back in bonuses if it doesn't win, up to the $1,000 maximum.

FanDuel Parlay Betting

The final parlay betting site on our list is FanDuel Sportsbook. FanDuel is a great parlay betting site because it offers Same Game Parlays with boosted odds. If you build a parlay in which all legs are selected from the same game, you will often receive an odds boost. For example, the parlay may traditionally have odds of +450, but FanDuel will boost the odds to +550 to allow for a bigger potential return. Unlock a wonderful FanDuel welcome offer after you ➡️ CLICK HERE ⬅️ to create an account!

🎁 FanDuel welcome offer

New customers can claim $200 in bonus bets from a $5 wager. Once your first bet settles, you'll receive your bonus bets so long as your bet wins. There is no odds restriction tied to your qualifying wager, so you can back a big favorite. Additionally, you'll earn daily odds boosts and bonuses.

🔢 How we Rate Parlay Sportsbooks

We reviewed each sportsbook based exclusively on the parlay betting experience provided. Factors that led to a good score included the number of available markets, the competitiveness of the odds being offered and the welcome offers of each of the sportsbooks. All five of our top parlay betting sites scored very highly in each of these categories and should be strongly considered if parlays are your bet type of choice.

🎯 Parlay Betting Sites Features

The table below summarizes what you can expect to find at each of the best parlay betting sites.

SportsbookSame Game Parlay FunctionalityBoosted Parlay OddsParlay BonusMulti-Sport ParlaysCash-Out FeatureParlay Insurance
BetMGM
DraftKingsX
CaesarsX
BetRiversXX
FanDuelX

Boosted Parlay Odds

As you can see in the above table, all five of our favorite parlay betting sites offer boosted parlay odds. This was one of the key factors when rating the parlay betting sites because as sports bettors, we want to increase our payout as much as we can. With a boosted parlay, you may see the sportsbook provide odds of +450 when normally the parlay would only have +375 odds.

Same Game Parlay Functionality

All of our parlay sportsbooks have the capability to accept Same Game Parlays, which means all of the legs of the parlay come from bets on the same game. For example, you could bet on the point spread, the total and a player prop from the same NFL game. These are beneficial to parlay betting because you can bet on correlated events. For example, you may think that if the game goes under the total, the underdog will have a better chance of covering the point spread as well.

Cash-Out Feature

Having a cash-out feature available is another key point when considering a parlay betting site. Having the ability to cash out can lead to locking in profit at a given point during the bet. For example, if you have a three-leg parlay and two of the legs have won, the sportsbook may give you the ability to cash out of the parlay to earn a profit. You may be feeling nervous about the final leg or just want to lock in some profit now and cashing out allows you to do just that.

Multi-Sport Parlays

With each of our parlay betting sites, betting multi-sport parlays is an option. With multi-sport parlays, you can combine selections from all different sports into your parlay. This is a fun option if you are a fan of multiple sports.

💡 How to Choose a Sportsbook for Parlay Betting?

When selecting a sportsbook for parlay betting, a number of factors should be considered. I am a big fan of placing parlay bets, so I reviewed the list of features before joining. When I bet parlays, I want to make sure I get fair odds for my bet. Parlays are not easy to win since it requires winning every single leg, so I want to make sure that I receive a great payout on the parlays that I do win. 

When picking a parlay sportsbook, I would recommend you review all of the details in this article to see which features are important to you.

🏆 Are These Parlay Sportsbooks Legal and Legit?

Yes, all of the parlay betting sites outlined here are legal and legit for eligible customers. Online sports betting became legal back in May 2018 and is now legal in many states across the country. As long as you are at least 21 years or older and present in one of the eligible states, you are welcome to join a sportsbook and begin betting parlays right away. Here are the states that offer online sports betting, and by virtue of that, parlay betting:

FAQs

What is a Parlay?

A parlay is a type of bet in which multiple selections are combined for a chance at a bigger payout. In order to successfully win the bet, all legs of the parlay must win. In the event of even a single leg losing, the entire parlay is graded as a loss.

Yes, betting parlays is legal in any state where sports betting is legal.

There is not a single best parlay betting site, as sportsbooks offer different odds for each market. For a chance at the highest payout, make sure to shop around at many parlay sportsbooks.

Andrew Wilsher

Managing Editor

Andrew Wilsher has 11 years of sports betting experience and has been the managing editor of Pickswise for 3 years. Born and raised in jolly old London, England, Andrew has an undying love for the NFL, soccer, NBA and horse racing. He is a big-time sports bettor who loves futures markets and is a long-suffering New York Jets fan.

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