How to Place a Parlay Bet

How Parlay Bets Work - Best Guide to Parlays in Sports Betting
  • by Matt Stevens
  • December 31st, 2019
  • Category:

If you want to learn how to bet on sports, you first learn about the straight wagers, it is easy to master, and not complicated for a single game. But let’s say that is a Sunday and the NFL regular season is in full swing. There is a type of wager that can help you bet on the action of the entire Sunday and make the action more fun. We present you the Parlay bet.

What is a Parlay Bet?

A parlay bet is a type of wager where you bet on more than one team at a time, and thus it has a larger payout for you. All the teams in your wager must either win or cover the spread for your wager to be deemed a winner. This type of wager is available on different sports, and it can include money lines, and totals. Also every sportsbook has their different types payouts for parlay bets, so we strongly recommend that you check online sports betting reviews, to see which site has the most appealing odds for your liking, also it is important that you know how much teams you are able to include on a single wager.

To give you an example, let’s keep the NFL Sunday Scenario. Let’s say you want to lay a 3-team parlay bet. You want to bet on the Patriots to win their game, you want the Over on the Dallas/Giants game, and you want the Golden State Warriors on an NBA game later on. The mechanics of a Parlay bet work like this: If all your three picks win, you will get a payout for a three-team parlay. If one team ties, or the game is cancelled or postponed, your pay out will lower, but the bet will be active. To continue to use our example let’s say the Dallas/Giants game is postponed, your three-team parlay bet will revert to a two team parlay. If you are placing a two-team parlay and there is a “tie”, the wager will revert to a straight bet.

We recommend that you verify with your sportsbook to see what are their rules and restrictions for parlay bets, because some are more flexible than others. Also, several different online betting sites offer different kinds types of parlay bets with different features that allow the player to have lower risks or even more payouts. But this tends to change from one site to the other, so make sure you ask first.

To learn how to bet on sports, a parlay bet is a must know type of wager because it is offered by virtually all the most important sportsbooks in the web. Also it allows the player to risk a small amount of money for a large payout. It is a highly popular bet for weekends with a lot of action and a very popular type of bet amongst more skilled bettors. Once you get a hang of it you will see that this type of wager is a lot of fun, with great potential rewards.