Understanding How Parlay Bets Work At Online Sportsbooks

SportsbookGurus.com - Sportsbook Wager Types - Parlay Betting

Many new sports bettors have heard the term of Parlay Bets before but were not quite sure exactly what it was. SportsbookGurus.com is here to explain it to you and make it very clear to even the beginning sports gambler. A parlay bet consists of two or more (usually up to 12) selections that make it into essentially one large bet. In order to successfully win a parlay though, all your bets have to be correct or at least tie. So if you make a five game parlay and you go 4-1, it is credited as a loss. This in turn makes parlays quite difficult to hit, but also makes the payout much more than just simply betting straight up on individual teams.

You can make Parlays on many different games including NFL, NBA, MLB, NHL, College Football, and many more at online sports gambling sites. You can really put a parlay bet on just about any type of games and even mix and match your parlays like betting on point spreads and over/unders. For example you could have a three game parlay for a Boston Celtics win, Atlanta Falcons loss, and a Chicago Cubs win by 1.5 runs (2 runs or more).

Calculating the payouts is very easy as well. It just takes a little math and plugging in the numbers. For example, say on Sunday you want to bet on NFL games. You could make a four game parlay with four different teams to win big. Say you want to bet on pick a winner for all your bets. You bet on an Oakland Raiders win (+145), a Denver Broncos win (-110), a Tampa Bay Buccaneers win (-110) and a New York Giants win (-125).

Your first step is to convert the moneyline to a decimal. For the negative moneylines, you divide 100 by 110 twice (Broncos and Buccaneers) which gives you .90 and 100 by 125 once (Giants) which gives you .80. For the positive moneyline, you next would divide 145 by 100 (Raiders) which gives you 1.45. Step 2, requires you to add 1 to all the calculations so you now have 1.9, 1.9, 1.8, and 2.45. You final step requires you to multiply your risk amount with all of your calculations, then subtract your originally risk amount. So if you risked $50 for the bet it would look like this: $50 x 1.9 x 1.9 x 1.8 x 2.45-$50= $746. That is truly a large sum of cash to win from just $50, but then again hitting four games is particularly tough as well. To make it easier, take advantage of Sports Gambling Bonuses.

What happens if I push one of my bets in a parlay?

Did you push one of your bets in your parlay? Don't worry, you still get paid!!! As I stated earlier, if a tie happens in one of you parlays, the payout will go down one team. If it is a 2 team parlay, you will get basicly get paid for making a straight bet on the game you won. So for example if you made a five game parlay and won four while tying one, you would get a four game parlay payout. Also note that a tie can occur in the MLB if you bet on a game and the starting pitcher changes. If a game is cancelled, incomplete, postponed or rescheduled, your parlay will also drop one game without a loss penalty. Overall, Parlay Wagering is great because of the little amount of money you have to risk vs. the large amount of money reward, but in the end you will have more losing days than you will winning days.

Can I Parlay Two Wagers In The Same Game?

This will be unique to the sportsbook that you are signed up with. Some sports betting sites have different parlay rules than others. Fortunately we've got reviews on the best betting sites for parlays that will be able to provide some more information and links to the sportsbooks themselves for clarification. Parlay bets will not only vary book to book, but can also be different depending on the sport and the type of bet that can be placed. The best advice is to check out reviews of the books and from there to visit the site and read up on the terms and conditions of a parlay bet.

Standard parlay payouts are listed below, although they vary:

Number of games  Payout

    1. 2.6/1
    2. 6/1
    3. 11/1
    4. 20/1
    5. 40/1
    6. 80/1
    7. 150/1
    8. 300/1
    9. 700/1
    10. 1,100/1
    11. 1,800/1

Sportsbook Wager Types:

Best Sportsbooks For Parlay Betting

The best sports betting sites are the ones that give account holders different options to wager freely. One of the key components of this extends to parlay bets. Aside from a straight wager, a parlay is the most popular bet placed at a sportsbook. Below, you'll find information on some of the top online sports betting websites that feature varying types of parlay action for different sports that bettors are able to use. Each site might have some unique aspects to parlays, but all offer some great ways that bettors are able to make money by betting them.

Bovada - Huge Parlays Available

Without a doubt, Parlay Bets are the funnest way to best money at sportsbooks. Bovada is where many verteran sports bettors go to place their bets because of their selection of games and bonuses. Make your first deposit at Bovada and earn an additional 50% in match bonuses.

Bovada accepts deposits in the form of VISA (credit, debit, gift, prepaid) bank wires and cash wire transfers. Try Bovada and you'll soon realize why those who love wagering on sports have made it their home for all online betting.

Bovada Review Visit Bovada

BetOnline - Cross Sport Parlays

Everyone who knows about sports betting knows about BetOnline. With that said, anyone who knows about BetOnline is a fan of Parlay betting. The reason? BetOnline has some of the best odds on parlays that can be found anywhere. Beyond that, BetOnline has a generous sportsbook bonus worth up to $1,000 with a 25% total deposit bonus on every deposit.

Smart users can make that bonus last for a while if they bet your parlays intelligently but there is always another one waiting as a backup. BetOnline also has extremely easy deposit methods that make it super simple to place a wager.

BetOnline Review Visit BetOnline

Sportsbooks That Have Parlay Wagers

Logo Sportsbook Reviews Bonus USA Players? Location Visit
Bovada Review 50% to $250 YES Antiqua VISIT
BetOnline Review 25% - $1K YES Panama VISIT
SportsBetting Review 25% - $1K YES Panama VISIT
5 Dimes Review 50% - $200 YES Costa Rica VISIT