What is a parlay bet?

Betting in recent years

Everyone’s favorite betting has undergone some changes in recent years. First, this activity has become popular online. Although people in some countries still go to physical betting shops, many countries now ban such establishments in their territories. For this reason, online betting sites can be called a pleasant alternative.

In addition, betting is now gaining popularity among users of mobile applications – this is another new betting format. With so much variety and fast access to betting, it’s getting easier and more fun to bet. This is also facilitated by numerous types of bets, which you will learn more about below.

Betting Types

As we have already mentioned, users are now provided with an extensive selection of sports betting. This applies not only to the choice of the market, odds, and events but also to the types of bets themselves. Here you can see the main ones:

  • Moneyline – a wager on the team that is likely to win;
  • Parlays – a parlay bet consists of several wagers;
  • Middle – a wager on the spread on both teams of the game on separate lines;
  • Prop – a wager on the particular event during the match (scoring a specific number of points, making a particular maneuver, or whatever);
  • Teaser – this wager is for spot spreads and is supposed to pay out the same as a single normal bet, rather than a huge payoff;
  • Point Spread – a wager determines the advantage of this or that team;
  • Over/Under – a wager on the final sum of the two teams’ points, which will be lower or higher than a particular number;
  • Futures – a prediction of a future event or a player’s maneuver in the match;
  • Live – a wager, which can be placed during the match;
  • Points – a wager, which will make your profit depend on how much the team you have chosen has exceeded or missed the spread.

What is a parlay bet?

In this article, we want to draw your attention to parlay bets. Parlays are quite popular today. The thing is that they are easy to place as well as easy to make successful. To understand a parlay bet meaning, you have to get familiar with the answer to the question “What is parlay?” as well as try it in practice.

First, let us give you a detailed answer on “What is parlay?” A parlay bet combines several wagers in one bet. The earnings from each individual bet are carried over to the next step of the bet. For the bet to win, each “leg,” or individual bet in the pair, must win.

So, what is parlay bet? How to understand a parlay bet meaning correctly? It is a set of bets on a particular event. This bet becomes successful when all wagers in this set turn out to be lucky.

Betting parlay benefits

Betting parlay benefits

There is the list of all positive features of betting parlay:

  • A small stake can bring a huge profit;
  • Many bookies offer a parlay app;
  • High parlay payouts;
  • Several stakes on the same game parlay.

Whats a parlay? It is about lots of benefits. As you may see, this kind of bet is easy and beneficial at the same time. The main thing is that you place bets in the same game parlay and may do it even in the parlay app.

Kinds of parlay

2 chief kinds can be highlighted as key types of parlay. They are teasers and Round Robin. The first kind allows you to place a bet on several outcomes or a few teams. At the same time, the second type of bet is about placing a few bets simultaneously.

From these two types, you may choose any you wish in almost every bookmaker. Teasers seem to be more traditional ones, while Round Robin stakes are not so standard. Choose any and enjoy!

Example of parlay betting

Let’s take a glance at the example of parlay wagering. Let’s imagine that we are going to place 3 parlays on a spread. The first team (A) is – 2.5, the second one (B) is +4, and the third one (C) is -10.

Team C must win by at least 11 points, team A will win by at least 3 points, and the B squad must win a majority or lose by fewer than 4 points to win this 3-squad total. The entire bet loses even if 2 of the 3 stakes win and one loses.

Parlay odds

Parlay odds

Parlay odds may be difficult to count for a beginner in betting. That’s why on the Internet, you may find lots of online calculators that count parlay odds. In this way, the next factors are taken into account:

  • Your chosen number of bets;
  • The sum of your stakes;
  • Parlay Leg 1/2/3, etc.

To get the odds on your own, you need to divide the total income (both the amount of the bet and the winnings are taken into account here) by the bet itself. This way you will get European odds. How can you go from these coefficients to parlay? To do this, you must multiply your existing European odds by each other.

Conclusion

Summing up this article, we must admit that among all existing types of betting, parlay bets are in demand today. They are easy to place as well as easy to get huge profits from them. We do believe that you received a detailed answer to the question “Whats a parlay?” We also included the info about parlay betting benefits and its various kinds. In this review, you also may get familiar with the example of parlays as well as their odds.

Now, when you are full of the knowledge of this kind of wagering and know all its peculiarities, you may try it in some bookie. Good luck!

Read more about successful betting in our Guide.

FAQ

Parlay bet includes several bets. Their number is most often 2 or 3, but sometimes more. You make them for several outcomes or several teams.
On the one hand, if we speak about experienced bettors, these parlay bets are pretty easy. Such bettors often place successful wagers and earn a lot. But on the other hand, if we speak about a newbie, then it will be too difficult to start his or her betting experience with parlay stakes. For beginners, we recommend starting betting with something easier such as Moneyline bets or Over/Under wagering.

There are quite many bookmakers on the Internet that provide parlay bets. They are international, that’s why you will be able to use them almost in any part of the globe. You may try the next online bookies for this:

  • Unibet
  • BetRivers
  • PointsBet
  • FanDuel
  • BetMGM