Parlay betting sites allow visitors to combine multiple selections on one ticket. Offering chances of potential payouts, the odds rise with each selection. Available in many sports, parlays are hugely popular among fans in the US.
Many sportsbooks offer parlay-specific promotions, which add to the appeal of this bet type. Our guide will explain the benefits and limitations of parlays and how to place them online.
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What is a Parlay?
A parlay combines multiple single selections into one bet. There is potential for significant payouts because of the greater odds. Parlays can be made up of different bet types, including moneyline, totals and props. Each leg of your parlay must win to receive a payout. A single unsuccessful pick will result in your parlay bet being settled as a loss. Parlays are also known as accumulators or accas. The risk increases when placing a parlay. While the rewards can be quite attractive, it is very important to weigh these against the increased risks involved in parlay betting. However, ahead of placing your first parlay, read our guide in full to learn about the best tips and strategies, like with our live betting sites.
How to Place a Parlay
The best parlay betting sites make it easy for players to get started. Once you have chosen which sportsbook to take advantage of, follow these steps to place your first parlay.
Step 1: Visit Sportsbook
Enter the website of the sportsbook on desktop or mobile. Familiarize yourself with the layout and take a look at the markets, bonuses and features offered.
Step 2: Sign Up
Open the registration form and enter your personal details. You may be required to create a username and password at this point. Read and accept the terms and conditions and confirm your new account. Verify the account via email.
Step 3: Deposit Money
Login to your account and visit the banking page. Select “Deposit” and one of the accepted payment methods. Enter the amount and your payment details. Confirm the deposit and wait a few moments for funds to reach your sportsbook account.
Step 4: Browse Markets
Take a look at the sports betting markets that are available. Focus on sports, teams and players that you follow closely to make sure that you evaluate the odds for value.
Step 5: Place Parlay Bet
After analyzing available markets, add selections to your ticket as you wish. On the parlay option, enter your stake and view the potential returns. When you are ready, confirm the parlay. Keep track of your picks.
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Pros and Cons of Parlays
Like any type of online sports bet, parlays have benefits and limitations. Before signing up on one of the leading parlay betting sites and best sports betting apps, consider these pros and cons.
Pros and Cons
- Attractive payouts possible
- Exciting form of sports betting
- Exclusive promotions
- Variety of options available
- More risks
- Responsible gambling still very important
Top Tips for Parlay Bets
Parlays are one of the most difficult bet types to win on a regular basis. This is why taking on board advice from experts is recommended. Using our vast experience and knowledge, we have put together the following tips.
You must do your homework before placing parlays. You are potentially gambling on the performances of many different teams/players. Look at their recent form, H2H records, injuries/suspensions, standings and other key statistics.
Instead of blowing your budget on your first parlay, break the ice with a small stake and a small number of selections.
After losing a parlay, take some time to cool off. Only return when you are in the right frame of mind, and it suits your strategy.
Even if greater odds are available elsewhere, it is important to place parlays on sports that you have a good understanding of. This will increase your chances of picking winners.
❤️🩹 Do Not Bet With Your Heart
Emotional betting is never wise. Do not let your opinion on teams or players cloud your judgement. Instead, use logic.
When the terms and conditions are realistic, take advantage of promotions found on parlay betting sites.
Parlay Bonuses
Due to the popularity of parlays, many sportsbooks have introduced promotions and betting offers specific to this bet type. There are bonuses to suit new and existing players. We have outlined some of the most common parlay bonuses below.
Free Bets
Selected sportsbooks offer free bets to players who place a certain number of parlays. For example, place 5+ parlays and get a $10 free bet. Any winnings made from your free bet can be withdrawn immediately.
Parlay Insurance
In the event of just a single selection losing, letting down your parlay, your stake will be refunded in cash or a free bet. There will be a maximum refund and other terms and conditions, such as minimum odds.
Parlay Boost
It is possible to claim extra winnings on parlays. The number of legs will determine how much your parlay win is boosted by. Parlay boosts are paid out in cash.
How to Choose Between Parlay Betting Sites
Parlay bets can be placed on many sportsbooks. While it is nice to have options, it does make the decision-making process for players more difficult. When choosing between parlay betting sites and
NCAAB betting sites, you should consider the following factors.
1. Betting Odds
Parlays are placed because of the enhanced odds. Odds rise with each selection added to your ticket. So, comparing prices between sportsbooks is important. Even the smallest difference can have a significant impact on your potential returns.
2. Sports Coverage
Ensure that a potential sportsbook covers sports that you are interested in. Soccer, tennis, basketball, American Football and ice hockey are common. However, sportsbooks who accept bets on additional sports score extra marks.
3. Mobile Access
A significant proportion of parlays are placed using mobile devices. Parlay betting sites must be fully functional when accessed on mobile browsers. Some sportsbooks offer downloadable app for iOS and Android users.
4. Bonus Offers
Generic sportsbook offers and parlay-specific bonuses help to attract players. You can take advantage of free bets, parlay insurance, deposit bonuses and parlay boosts. We recommend reading the bonus terms and conditions in full before deciding where to sign up.
5. Payment Methods
The speed, safety and convenience of payments on parlay betting sites should be looked at. Banking options include credit cards, e-wallets and cryptocurrencies. The best sportsbooks process withdrawals within 24 hours and do not charge additional fees.
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Where is Parlay Betting Legal?
Parlay betting is legal in many US states. In states where online sports betting is legal, parlays can be placed. The table below shows which of the 50 US states feature parlay betting sites.
| Rank | Amount (GC) | Game |
| 1 | 936,200,000 | 2 Wild 2 Die |
| 2 | 123,200,000 | Dork Unit |
| 3 | 115,000,000 | The Kickoff |
| 4 | 100,800,000 | 2 Wild 2 Die |
| 5 | 86,880,000 | Eye of the Panda |
| 6 | 82,800,000 | Live Roulette |
| 7 | 78,780,000 | Big Bass Vegas Double Down Deluxe |
| 8 | 78,520,000 | Wolf Gold Ultimate |
| 9 | 76,600,000 | Book of Panda Megaways™ |
Super Bowl Parlays
The Super Bowl is arguably the biggest sporting event in the world. The game is the annual championship game of the NFL and attracts global interest, as well as excitement at all
NFL betting sites. Ahead of the opening kick and during the game itself, millions place parlay bets. There are almost endless selections that can be added to your ticket.
Moneyline betting, spread and total markets are expected. The number of props goes through the roof. Some are related to the national anthem or half-time show. Others focus on receiving yards and touchdown passes. Similar to March madness college gambling, a same-game Super Bowl parlay could look something like this:
Kansas City Chiefs to win, Patrick Mahomes II to throw 3+ touchdown passes and Travis Kelce being named MVP.
Markets for Parlay Bets
There are a handful of markets that can be utilized when creating a parlay. You must think about the combinations used before confirming any bet. These are the most popular markets for parlays.
This bet involves simply picking a team or player to win outright. The scoreline and other in-game outcomes are unimportant. The favorite is given a minus (-) symbol and the outsider is handed a plus (+) symbol.
Here, you are betting on the margin of victory. Also known as a handicap, favorites are given a deficit to overcome. Underdogs come with a surplus. For example, backing Manchester City to beat Chelsea at -2.5 goals.
How many points/goals will be scored during a game? Referred to as over/unders on some sites, you must predict whether the total will be over or under a specific figure.
Props offer players something a little more creative. Team and player props can be added to parlays. The first player to score points in an NBA game and the length of the national anthem during the Super Bowl show the range of possible
prop bets.
Types of Parlays
There are two different types of parlays. Multi-game and same-game variants are accepted by the majority of sportsbooks. We have outlined the two below to ensure that you understand the difference.
Multi-Game Parlays
This traditional parlay features multiple selections from different sporting events. For example, 5 NBA games over the weekend. Players are limited to one pick per game. Leading
sportsbooks for the NBA
accept 20+ legs for multi-game parlays. Moneyline, spread, totals and props are among the markets available.
Same-Game Parlays
Same-game parlays are a relatively new creation. This bet type allows players to add multiple selections from a single event. For example, backing the Golden State Warriors to beat the LA Lakers, Curry to score 30+ points and 110+ total points. Previously, this would require three single bets. Sportsbooks that accept same-game parlays mean that they can be combined and odds are calculated instantly. Moneyline, spread, totals, player/team props and game outcomes are popular markes for this type of parlay.
Conclusion
Their excitement and potential returns make parlays attractive to many betting customers. Available with leading sportsbooks, you can add selections from many sports. Multi-game and same-game parlays are accepted on most sites, with bonuses specific to this bet type being increasingly common. Parlays are risky, but they can be attractive when the necessary research is carried out. Our guide has explained how parlays work and how they can be placed. Gone are the days when multiple single bets are required. Top parlay betting sites are available in the majority of US states.
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FAQ
🔢 What is a parlay?
A parlay is a single bet made up of multiple selections. Each leg must win for your bet to be successful. Parlays are riskier than single bets, but they offer higher potential payouts.
📜 Is parlay betting legal in the US?
Yes. Parlay betting, along with
straight betting is legal in many US states. Regulated
online sportsbooks
accept parlays and many other bet types.
🏆 What is a same-game parlay?
A same-game parlay is made up of multiple selections from the same sporting event. This contrasts a multi-game parlay, where different events are utilized by players.
⚽ Which sports feature on parlay betting sites?
A large number of parlays are placed on soccer, basketball, American Football, and ice hockey each day. The exact number of sports available ranges between sportsbooks. 25-30 sports are found on the best betting sites.
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