en enca cade deit ites esbr brru ruja jabg bgmx mxnl nlfr fr
Parlay Betting Explained: Parlay Betting Guide & Tips Cover
24 Oct 2023

Parlay Betting Explained: Parlay Betting Guide & Tips

by Oddspedia Experts
Reading time 5 min
Listen
-09:10
The online gambling scene is known to bear thousands of markets suitable for betting. Each market dictates the kind of bets you can place, whether gambling on football or basketball You will encounter two common types of markets when wagering online: single-match markets and parlays.

This read will focus on the little-known Parlay betting, an incredible option if you are after incredible payouts. We will also discuss how to use our Parlay calculator and the strategies you can apply to win Parlay bets.

  • Facebook Icon
  • X Icon
  • Instagram Icon
  • Telegram Icon
Do you find this topic interesting?
On this page:
  1. What is Parlay Betting?
  2. Most popular systems for making Parlays
  3. Use our multiple bets calculator
  4. How to make a Parlay bet
  5. Parlay Betting Strategies and Tips
  6. Most popular sports for making Parlay bets
  7. Conclusion
  8. Parlay Betting FAQ

What is Parlay Betting?

Though a prevalent type of bet, most bettors in the online gambling scene don't know what Parlay betting is. Well, this is a gambling system that allows you to combine two or more bets into one single wager. It is the most highly recommended form of betting whenever you want to enjoy higher odds. However, if one of your selection loses, the entire parlay bet loses as well. In Parlays, you need all of your selections to win for you to enjoy a Parlay bet pay.

A Parlay bet is a type of bet that involves linking two or multiple bets together.

Before you start placing Parlay bets, note that every sportsbook has conditions on which events can be parlayed together. As a result, it is crucial to go through the Parlay betting rules of your sportsbook to know the steps to take when placing a Parlay bet.

  • Bet $1, Get 10x 100% Profit Boosts
    Claim bonus

    New users only. Must register using eligible promo code. After the $10 minimum deposit, place an initial $1 real money wager. Regardless of the outcome, Caesars Sportsbook will issue you 10 100% profit boosts. The maximum wager for each profit boost token is $25 and must be used on markets with minimum odds of -10,000. Full terms apply. 21+ and present in AZ, CO, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, NJ, NY, NC, OH, PA, TN, VA, WV, WY. Know When To Stop Before You Start. Gambling Problem? Call 1-800-GAMBLER or MD: visit mdgamblinghelp.org or WV: visit 1800gambler.net; AZ: Call 1-800-NEXT-STEP; IN: Call 1-800-9-WITH-IT; IA: Call 1-800-BETSOFF; MA CALL 1-800-327-5050 or visit gamblinghelplinema.org; NY: Call 877-8-HOPENY or text HOPENY (467369)

To successfully place Parlay bets, you need to understand the most popular systems used for making Parlays. Each betting system guides you on which betting markets you can combine when placing Parlay wagers. Their primary purpose is to make Parlay betting effortless, even for amateur gamblers.

As you will find out, the systems of placing Parlays apply when betting on any sport. With that said, here are the three most popular systems for making Parlays.

Trixie

A Trixie bet is one of the common and easiest methods of creating parlays today. As the name suggests, the wager consists of four bets from three selections. To come up with a Trixie, you need to wager on 3 doubles and 1 treble. Since Trixie does not contain single bets, you only get a return if a minimum of 2 selections win.

Yankee

Advanced gamblers should consider trying out Yankee betting. This is a betting system where you wager on 11 bets of equal values on options from four separate events. For the bet to be considered a Yankee, it must contain 1 four-fold, four trebles, and six doubles. Note that to get a return on a Yankee bet, two selections must be correct. Also, if there is a non-runner, the bet will still stand.

Heinz

In Parlay sports betting, Heinz is one of the betting systems that require you to place a 6-selection wager comprising 57 bets. To form a Heinz, you need a combination of a 6-fold accumulator, 6 five-folds, 15 four-folds, 20 trebles, and 15 doubles. One of the advantages of placing a Heinz wager to an accumulator is that you only need two selections to win to get a return. The main advantage of Heinz Parlay is that the odds are much bigger than the ones described above.

    Use Our Multiple Bets Calculator

    As we have gathered above, Parlay entails combining individual bets for a high Payout. The odds are much bigger than those you get if you place a point spread bet. Therefore, when gambling on Parlays, you will have to do a bit of mathematics which can be exhausting.

    As a result, we recommend using our Parlays calculator to Calculate parlay odds. Thanks to the resource, you can quickly and accurately derive your Parlay payout regardless of your betting system.

    • Up to $1,500 back in Bonus Bets
      Claim bonus

      One new customer offer only. 21+. Place your first wager and receive up to $1,500 back in bonus bets if it loses. Bonus bets expire in 7 days. Add’l terms apply. Gambling Problem? Call 1-800-GAMBLER. BetMGM Sportsbook available in AZ, CO, DC, IA, IL, IN, KS, KY, LA, MA, MD, MI, MS, NJ, NY, NC, PA, PR, OH, TN, VA, WV, WY only.

    How to Make a Parlay Bet

    Making a Parlay bet varies depending on the sportsbook you are using. This is whether it is the same game, Parlay, one of the latest types of Parlay betting, or the ordinary Parlay. However, in most online sportsbooks, the steps are the same.

    First, you need to launch the bookmaker on your computer and log into your website. Once you finish, navigate to your desired sports and add your selections to the bet slip. You can then proceed by choosing the Parlay option on the bet slip. Remember, some sports betting sites will automatically change from a single bet to Parlay. Finish by stating the amount you wish to gamble on and submit the bet.

    Parlay Betting Strategies and Tips to Win

    When building a Parlay, you need to have strategies in mind to avoid scenarios where your Parlay loses. If you are new and interested in enjoying excellent Parlay payouts, pay attention to this section keenly.

    First, avoid adding point spreads on your Parlay. Most bettors take this path to end up with juicy Parlay odds. But then, whether placing team Parlay or any other kind of Parlay, you stand a high chance of losing your wager if you add a spread bet. Another important strategy to win Parlay bets is to expand your sports selection.

    Don't just have a single sport on your entire Parlay bet. Add events from multiple sports. This will help you find value odds. Lastly, use free bets or other promotions whenever you decide to bet Parlays. This allows you to place risky online Parlay bets or add various options on Parlay cards without worrying about losing your actual cash.

    • Get $100 when you bet $20
      No code required Claim bonus

      Free bets will be broken down into 10 x $10 bets. Must be 21+ and located in the US at time of wagering. T&Cs apply.

    If you are an avid gambler, you already know that most sports are only suitable for single betting, not Parlays. This is because they lack the types of markets you can combine to end up with the betting system. That said, one of the most common sports you should consider when placing Parlay bets is American football, especially the NFL. You should also consider baseball, hockey, and basketball. Remember, with these sports, some sportsbooks can allow you to place the same bet Parlays.

    • Bet $5, Win $150 + 1K Deposit Bonus
      No code required Claim bonus

      If your first bet wins, DraftKings will give you six (6) $25 bonus bets instantly. Incl. 20% deposit match of up to $1,000 for every new user. Must be 21+ years of age or older and physically located in the U.S. New customers only. T&Cs apply.

    Conclusion

    From the information above, it is apparent that Parlay betting is a profitable gambling system that is easy to understand. It guarantees incredible payouts and does not require analytical skills to make profits. If you have read this piece in its entirety, then you know what is Parlay betting in depth. You also understand how to make a Parlay bet and some of the most popular Parlay bets in sports gambling. This gambling system is popular because it has more pros than cons, as you can see below.

    Pros vs Cons
    Thumb Up
    Thumb Down
    • Parlay bets are easy to understand and place;
    • The betting system guarantees players high odds;
    • Applicable across different sports;
    • It applies even with free bet bonuses;
    • Parlay bets don't guarantee a payout;
    • All your selections must win in order for your parlay bet to be successful;

    Parlay Betting FAQ

    ❔ What is a Parlay in Sports Betting?

    Parlay betting is a form of gambling that requires you to add two or more events on a bet slip using select betting systems. This betting solution is popular, whether you are using fractional, American, or decimal odds.

    🏆 How do you Win Parlay bets?

    In order to win the entire bet, you have to win each of the individual bets on your parlay. However this does not apply if you transform your parlay bet into a system bet - Trixie Parlay or Heinz Parlay. In this case, you will not lose your Parlay wager just because a single selection has failed you.

    💶 How Is a Parlay bet Calculated?

    To easily calculate your Parlay bet, you must first convert the American odds to decimals. After that, multiply the odds together, and lastly, multiply the answer with your wager. To get your Parlay profit, subtract your stake from the number you get.

    💳 Is It Worth Playing Parlay Bets?

    Yes, it is worth playing Parlay bets. This is because Parlays gambling allows you to enjoy the best odds, especially if compared to single bets.

    🤔 Can Parlay Bets Be Placed on The Same Match?

    Yes, Parlay bets can be placed on the same match or game. However, you must confirm that your sportsbook allows this kind of Parlaying. This is because some bookmakers don't allow Parlay betting on the same match.

    ❔ How to Make a Multiple Bet on Football?

    To make a multiple bet on football, launch the betting site on your computer. After that, log into your account and navigate to the football page. Choose your desirable football match or matches and add more than one selection on the bet slip. Finally, stake some cash and submit the bet slip.

    🏆 Can I Place a Multiple Bet on More than One Sport?

    Yes, you can place multiple bets on more than one sport without experiencing any restrictions. All you have to do is add selections from different sports in the sportsbook. The events can be football, soccer, and basketball matches.

    💶 Can I Cash Out On Parlay Bets?

    Yes, cashing out on Parlays is possible. However, you must remember that the cashing out must happen before the end of the last event. Also, ensure you read your sportsbook's cash-out terms and conditions, as they always vary.

    💳 What Is a Double Multiple Bet?

    A double multiple bet is a betting format where two events, mostly Outright bets, are combined into one. Double bets are popular because they are easy to make and also, and they guarantee better odds than single bets.

    🤔 What is an ACCA Insurance?

    An ACCA insurance is a promotion that allows you to secure either a fraction or your entire accumulator stake. As a result, if your selections are incorrect, the operator credits your account with the insured stake.
    Before you go, do not forget to share with your friends:
    • Facebook Icon
    • X Icon
    • Instagram Icon
    • Telegram Icon
    This article was written by our team of betting experts, any contributing references are noted below.
    Last updated 24/10/2023
    References
    1. Wikipedia contributors. (2022a, January 4). Parlay (gambling). Wikipedia. https://en.wikipedia.org/wiki/Parlay_(gambling)
    2. What is an accumulator bet. (2022). Https://Help.Smarkets.Com. Retrieved February 7, 2022, from https://help.smarkets.com/hc/en-gb/articles/4406154672401-What-is-an-accumulator-bet-
    3. M. (2021, July 6). How do Accumulator Bets Work? MansionBet. https://blog.mansionbet.com/guides/place-an-acca/
    Related Articles:
    Cookie Image
    Some things are better with a cookie!

    We need you to know... that our website uses cookies for your best experience!

    Read more 
        )    (       (       (      (            (       (
 ( /(    )\ )    )\ )    )\ )   )\ )         )\ )    )\ )     (
 )\())  (()/(   (()/(   (()/(  (()/(   (    (()/(   (()/(     )\
((_)\    /(_))   /(_))   /(_))  /(_))  )\    /(_))   /(_)) ((((_)(
  ((_)  (_))_   (_))_   (_))   (_))   ((_)  (_))_   (_))    )\ _ )\
 / _ \   |   \   |   \  / __|  | _ \  | __|  |   \  |_ _|   (_)_\(_)
| (_) |  | |) |  | |) | \__ \  |  _/  | _|   | |) |  | |     / _ \
 \___/   |___/   |___/  |___/  |_|    |___|  |___/  |___|   /_/ \_\