Parlay Betting Term Meaning
A parlay bet is an American betting term that most UK, European and Australian punters know as a multiple bet.
When betting with a UK-based bookmaker, you’ll come across doubles, trebles and accumulators. These are all single-wager bets but with a different number of selections. Instead of having separate names, US bettors and bookmakers simply call these a parlay bet.
You can place a two selection parlay which is the same as a UK double bet. This is the simplest form of a parlay bet. For our example, we have an NFL game the Dolphins and Browns to win their respective games.
Dolphins to beat the Patriots
Browns to beat the Chiefs
If you bet $10 on this two-team parlay, the payout would be:
1.80 x 1.65 = 2.97 x $10 = $29.70
The majority of sportsbooks will continue accepting parlay bets up to 10 selections. As an example of the power that a 10 selection parley wager has, this is what you would win if each selection was priced at 1.90 and your stake was $10.
1.90 x 1.90 x 1.90 x 1.90 x 1.90 x 1.90 x 1.90 x 1.90 x 1.90 x 1.90 = 613.10 x $10 = $6,131.06.
Team Total Parlays
You are not restricted to simply betting on the match result market, the entire sportsbook is open to you. If your preference is team totals, betting the spread or individual player markets, you can build a parlay with these choices. Most operators will also allow cross-sport parlays, too so you can mix up your selections to form the perfect combination.
A regular promo offered at sportsbooks across the globe is parlay/accumulator insurance. While there are variations from site to site, the basic concept is the same in that if you place a five selection parlay and one selection loses, which ruins the whole wager, you get your stake back (up to a certain amount) as a free bet.
Another popular offer is boosted parlay winnings. With such a promo, your winnings will be boosted by a certain percentage based on how many selections were in your winning parlay. In a battle of fine margins to beat the bookmaker, promotions such as these can really make a big difference to your bankroll.
Should I parlay bet?
Parlay betting is not for every punter, so it’s an independent choice. The advantage is that you can win large sums of money with very small stakes, and that is the dream of most bettors. The other side of the argument is that you go through look dry-spells where your parlays don’t win. An alternative would be to place a system bet such as a Yankee, Canadian, Trixie or Patent. These cost more because they involve several bets but you aren’t as disappointed if one selection loses.