Sportsbooks love to offer parlays because their profit margin increases substantially when more legs are added. That said, the risk is also higher because you must win every leg to win the parlay.

This is how parlays offer the potential for substantial payouts, often significantly higher than individual bets. The more selections you add, the higher the potential payout, but also the lower the likelihood of winning. When you select the parlay option, the odds for each individual selection are multiplied together to determine the overall odds for the parlay. all individual legs win), you’ll receive a payout based on the odds of each selection. Bettors can then place a fixed stake on the parlay, and if it wins (i.e. All your selections will be added to your bet slip, where bettors can then select the parlay toggle before checking out. As with any form of betting, the riskier the bet, the more money it tends to pay out.īettors can create a parlay by selecting multiple outcomes from different games or events. In addition, parlays are risky, and therefore inherently more lucrative. When parlays are successful, they have the potential to return much more in profit as the odds compound with every winning leg. Parlays can include any types of bets, including point spreads, the moneyline, totals (over/under), or prop bets. If even one selection is wrong, the entire parlay is lost. To win a parlay bet, all the included legs must be correct each individual leg must win on their own.

A parlay bet is a single wager that combines two or more individual bets, known as “legs” or “selections,” into one bet slip.

Parlay in sports betting