A parlay involves combining two or more teams to make a single bet with higher odds. The popularity of these bets is based on the fact that they have a larger payout as compared to betting on games individually. The major disadvantage of a parlay is that If one bet in a parlay loses, the entire parlay loses so punters have to be very careful when selecting matches for a parlay because it is not easy to come up with individual winning bets not to mention many matches that make up a parlay.
The good thing about a parlay is that the payout is greater and the risk is less, but the tricky part is that all your selections in your parlay need to win and the odds of winning a parlay are always stacked against punters. For example, if a punter makes a 10 team parlay and you win 9 of them and lose the last one, that bet is considered a loss so whilst there is an urge to increase many matches to a parlay, each match that is added to a parlay increases the risk of a parlay bet failing. Below is an example of a parlay
Cincinnati Bengals to win vs Cleveland Browns Odds: +140
Pittsburgh Steelers to win vs Dallas Cowboys Odds: -200
Houston Texans to win vs Jacksonville Jaguars Odds: +180
Indianapolis Colts to win vs Kansas City Chiefs Odds: -150
Philadelphia Eagles to win vs Tennessee Titans Odds: +110
Parlay Odds: +3435If all the selections in this parlay wins , the parlay bet will win and the punter will make a profit of and claim a profit of $343.50.
The parlay payout from picking multiple large moneyline underdogs can be quite large. Likewise, the apparent ease of winning a moneyline bet with multiple large favorites can also be attractive. It should be noted that winning neither type of parlay is easy. Over the years people devised ways of beating the bookmaker by making smart parlay betting choices. When creating a parlay bet, you can add quite a number of betting markets to your parlay like moneyline, teasers, totals among other markets. This article seeks to offer an explanation of some betting markets that can be added to a parlay bet and how to build an NFL parlay. Below is an explanation of a betting markets which can be added to a parlay.
A moneyline bet is one of the most popular and easiest kind of bet in the NFL. A moneyline bet is bet whereby a punter wagers on which specific team will win a game. Moneyline betting is unlike betting on a point spread which is about who wins and by how much, a moneyline bet is only about the winner.
Cincinnati Bengals -175
Pittsburgh Steelers +130Please note that favourites are shown by the use of a (-) sign, whereas the underdogs are shown by the (+) sign. So in this example, the Cincinati Bengals at odds -175 whilst Pittsburgh Steelers are considered underdogs at odds +130.
What this means is that if you bet on the favorite, you will have to bet $175 to win $100, if you want to bet on the underdogs, a $100 bet will win you $130.
The Totals bet is also a very popular one because it is an easy and straightforward bet. This is a type of bet where a bookmaker sets or predetermines the number of points to be scored in a match and a punter then has to bet on whether the points scored in a match will be over or under the number of points predetermined by the bookmaker. Usually competitive games are considered to be lower scoring as the games are highly tactical whereas less competitive matches are considered to be higher scoring matches.
Below is an example of a match between Cincinnati Bengals and Pittsburgh Steelers where Pittsburgh Steelers were beaten 15-35 by Cincinnati Bengals making the total points 50.
Over 49.5 -140
Under 49.5 -140In this example, if you back either over or under, a $140 wager would win you a profit of$100.
Point spread is a very popular bet in the betting industry and punters love it because it gives them the opportunity to boost their bets. The point spread is also commonly known as an equalizer for bookmakers.
The basic idea behind point spreads is that not all teams are created equally, some are exceptionally good while others are bad so bookmakers create a point spread for a game so that each team playing has an almost even chance of winning the game. In a way, the point spread will even the field for both teams.
In a point spread, the superior team which is considered a favorite has to win by the point spread offered by the bookmaker. The underdogs in a game is listed as being the(+) whilst the favorite in a game is listed as being minus (-).Below is an example of a point spread bet:
Cincinnati Bengals -4.5 -110
Pittsburgh Steelers +4.5 -110In this case, the Cincinnati Bengals have been evaluated as 4.5 point favorites and this means that Pittsburgh Steelers are given a 4.5 point start which makes the game completely even and either team has a 50% chance of winning.
If you are backing Pittsburgh Steelers to beat the spread, you are backing them to win by more than the 4.5 points they are favored by. The -110 odds means that if you bet $110 on Cincinnati Bengals here, you’d win $100 if they beat the spread.
There are a number of people who do not understand how parlay betting works because they either feel it is complicated or they just are not interested, we have put a few examples to help you understand how the types of bets work.
Week in week out, there is quite a number of NFL matches available and it is your responsibility as a punter to find the best matches which enhance the possibility of winning. If you want to make a two team parlay,you must trim your list of fixtures so that you are left with the best two matches you believe to be your best.
Cincinnati Bengals -135
Pittsburgh Steelers +115
To get the best from these two, it is wise for you to combine them into a single parlay as this is more profitable than betting on the separately. When you add games to your parlay, you will notice that the odds on your ticket increase as the matches increase.
The odds of these two teams( -135 and +115) will give a total parlay odds of +274 which means that if a punter bets $100 at odds of +274 , the potential payout is an impressive$374.25 with a profit of $274.25.
To make a three-team parlay, you must look for the best three games you wish to bet on. It is important to realise that your three team parlay can include different markets (you can include a moneyline and totals).
Cincinnati Bengals +1.5 (-105)
Pittsburgh Steelers -3.5 (-115)
Houston Texans -8 (-110)The odds of the three teams (-105, -115, and -110) will give a total parlay odds of +597 which is a quite a big number. If you place a $100 bet at odds of +597 you will get a potential payout of $696.86 with a profit of $596.86.
To make a four-team parlay, you must look for the best four games you wish to bet on. It is important to realise that your four team parlay can include different markets.
Over 205.5 (-110)
Under 199.5 (-105)
Over 212.5 (-115)
Under 208.5 (-110)The odds of the four teams (-110, -105, -115, and -110) will give a total parlay odds of +1230 and a $100 bet of odds of +1230 will give a potential payout of $1,330.38 with a profit of $1,230.38.
Are you looking to start betting Parlays? Building and betting parlays adds a new, exciting element to sports betting in the USA. You need to watch each game in anticipation to ensure that each pick you have made on the Parlay comes through, as one wrong pick and the entire parlay loses (unless you are offered cash out).
Now that you know what Parlays are, which betting sites offer Parlays and which is the best one to bet with?
As Parlay betting is very popular, almost every USA betting site offers a Parlay as a betting option. The main differences would be how you find and place the parlay and the rules they have around that parlay.
Draftkings Parlay: On the betslip you can toggle between single bets and the parlay (assuming you’ve added multiple picks). No related bets and they do offer Cash out
SugarHouse Parlay: Parlays appear on the betslip beneath the single bets. Sugarhouse offer a Parlay Jackpot, which is like a quickpick lotto bet.
WilliamHill Parlay: Parlays are shown under the single bets, on the same betslip.
BetAmerica Parlay: Like Draftkings, on BetAmerica you need to toggle between the single bets and the parlay bet.
Pointsbet Parlay: Pointsbet let you add up to 12 picks on your parlay.
Fanduel Parlay: You can add up to 16 picks on your parlay bet and they also offer cash out.
Bet365 is one of the most well known and popular betting sites in the world. They have mainly been focused on the European market (East and West), as well as the Asian markets. However, they have recently launched in the US market and are growing aggressively.
Although called Accumulators in the UK, Parlays are very common and so Bet365 has extensive experience in offering them to players.
The way to build a Parlay on Bet365 US, is the simply choose the matches and markets you want to bet on (remember no related bets). Then, on your betslip, scroll down and click the option to “show more multiples”. You’ll then be able to enter your stake and see your potential win if it was a single, double, triple, or Parlay bet.
Bet365 Parlay Bonus
Bet365 US also offer a Parlay Bonus. The more picks you add to your betslip, the higher the bonus amount. It starts at 5% for Doubles and goes all the way up to 70% for a 14+ pick Parlay. If your Parlay is successful, Bet365 will add the bonus amount to your winnings and you can withdraw it as cash.
BetAmerica has shown itself to be one of the most popular sports betting sites in the US market so far.
BetAmerica have also made it quite easy to build and find a Parlay bet. You simply start adding straight line bets (not the same match as bets in a Parlay can not be related) and the parlay will get built directly into your betslip. To view your Parlay on BetAmerica, simply click the Parlay button/tab next to the Single tab on the betslip. It will show you the individual games and markets you have bet on, and then show you the total odds for the Parlay and possible winnings based on these odds and stake.
Do you want to place a parlay bet on Draftkings? A Parlay is a great way to maximise your potential winnings by adding increasing numbers of bets to your one betslip. This can dramatically increase the odds of winning and therefore th potential payout.
The first thing to do is to find the bets you want to place. Click on the sport you want to bet on, for example NFL. Then choose the matches you want to bet on and the markets you want to bet. This could be moneyline bets or spreads. You can of course add bets from multiple sports onto the same bet slip and therefore the same parlay. On the side of Draftkings you will see yout bet slip and you can switch between Singles and Parlays. The Parlay will display all the indivual picks you made, with the total odd at the bottom. Then simply add the stake you want to bet and it will display the potential payout. You can add up to 12 picks to your bet slip at any given time. The more picks you add, the higher the odds.
You won’t be able to add any and all picks to your parlay. Each betting site will have their own rules and terms around parlays, but the main one is that betting sites do not typically let you add correlated bets to the same parlay. For draftkings, this means, a bet made as a parlay bet shall never include two or more offers where the outcomes of which might turn out to be related (e.g. Team X to become champions and Player Y to be Top Goal Scorer in the same league).
The risk is that, if even 1 of your picks loses, you lose the entire parlay, so you need to take your time and build your draftkings Parlays carefully, using as much information and data as possible.
Draftkings does offer cashout for parlays, however it is their discretion as to when and how to offer it. Draftkings parlay cashout means that draftkings might offer to buy you out of your parlay if you are winning but there are still some matches to be played. It is then your decision as to take the cashout, or to take the risk of staying in the bet.
Yes you can build Parlay bets on Fanduel. A Parlay is simply when you combine multiple picks into one bet slip. These can be moneylines, spreads etc, as long as they are not correlated bets. To win your parlay on Fanduel, all of your picks need to be correct and Fanduel let you have up to 16 picks on a single bet slip, so you can really build some monster parlays with massive potential odds and payouts.
Like draftkings, Fanduel also offers cashout on Parlays, and this is again up to the bookmaker to determine when and how much to offer.
When building your parlay on Fanduel, unlike Draftkings which has the parlay tab already visible on the bet slip, you will only see the parlay “option” once you add more than one pick to your bet slip ( as long as they are no correlated). You will be able to see the Parlay option at the top of the bet slip and you can add your take, and see the total odds and potential payout.
Fanduel have launched a new betting product called Same Game Parlay. This allows you to combine bets into one bet slip from the same game. The main difference between the Same Game Parlay and a standard Parlay (with picks from different games) is that the odds will be adjusted and lowered for the Same Game Parlay.
Like most of the top US betting sites, Pointsbet offers Parlay Betting. This is where you add more than 1 selection to your bet slip, which increases the odds and the potential payout – but also the risk.
Pointsbet let you add up to 12 picks to your parlay (draftkings are also 12 and Fanduel is 16).
To build a Parlay on Pointsbet, start by navigating to the event/game you want, and then go to the bet type you would like to pick. Now, instead of clicking on “Place Bet”, click on the “Bet Slip” button. You will then be able to go and add more picks to oyur Bet Slip. Once you are built your Pointsbet Parlay, then click on the Bet Slip button and you’ll see all the picks you selected, first as a list of singles. But then, as a Parlay, with the combined total odds. If you are happy with ths parlay, click “Place bet”.
Pointsbet do offer a Parlay Insurance bonus. To qualify, you need to build a 5 leg/pick parlay, and if exactly one of the picks is wrong, they will refund you $50.
SugarHouse are another very popular sports betting site in the US, and like the others they let you bet on a multitude of sports and markets. Yes you can build your parlay on Sugerhouse in the same way you typically build parlays on other betting sites. You simply start adding more and more straight line bets to your betslip until you are happy with the number, then enter your stake and accept the total odds.
However, SugarHouse have gone 1 step further and that have also announced a special Jackpot Parlay. It is basically like a quickpick for lottery tickets. Each day SugarHouse have a new Jackpot Parlay, and this is currently only open to players from New Jersey. You simply click on the Jackpot Parlay banner and will be shown a pre-built Parlay of 8 picks. If you are happy with this, then simply click bet now. Otherwise, you can edit the jackpot Parlay by adding or removing picks and changing the stake amount. It should be used more for inspiration.
SugarHouse for offer buy out/cash out for parlays. To see if you qualify, go to your bet history and view your parlay.
WilliamHill have a slight;y different way of showing Parlays on the site. Instead of having a separate button/tab on the betslip for a Parlay, instead they show the Parlay on the same betslip under the Straight Bet. Then you can easily compare the Straight bet and the Parlay and see which makes more sense for you to place. To see your potential payout for the Williamhill Parlay, you need to enter your stake into the Parlay stake field and the system will calculate it and show you the total odds.
If a Parlay from Williamhill has a leg hat is deemed no action, then just that leg will be rmeoved and the total odds adjusted accordingly. At the moment the maximum odds for a Williamhill Parlay is 720-1.
During basketball season, WilliamhillUS offer a progressive parlay competition with a $10 000 jackpot. It’s just $5 to enter and players must select 15 winners. If the weekly jackpot is not won, it rolls onto the next week.
So, which is the best Parlay betting site? Well, it depends as most users will likely stick with the betting site they feel most comfortable betting with, but overall Fanduel offer the most picks, as well as cash out functionality, making them our top pick.