What is parlay betting?
Parlay betting involves tying two or more different wagers together but all wagers must be correct in order to win the parlay. The more bets that are parlayed together, the larger the potential payout. However, with each bet added to the parlay the chances of winning become smaller.
Parlays can involve various types of bets – pointspreads, moneylines, totals – across multiple sports and events, and can vary in size, depending on limits set by the sportsbook. Most sportsbooks will allow as many as eight to 10 games on one parlay.
Two $100 single bets (a total of $200 wagered) both placed at -110 have a maximum payout of $182 if both wagers win but aren’t dependent on each other to payout. A $100 parlay involving two bets at -110 has a payout of $264.46, but both bets must win to pay out.
If a parlay involved a bet that is graded as a push (tie), that game is void from the parlay and the remaining bets are paid out at the adjusted amount. For example, a $100 parlay involving three bets at -110 has a potential payout of $595.79. But should one of those bets be graded as a push, the parlay would then be adjusted to only include the two remaining games, dropping the payout to $264.46.
Putting together a parlay? Use our Parlay Calculator to calculate your earnings