Ever wonder what could be better than winning one bet? How about winning a carefully configured series of bets otakparlay and seeing your payout go through the roof? Parlay bets are a way to do exactly that. Parlays are wagers combining two or more bets like moneylines, Over/Unders, or point spreads.
Gamblers love parlays because even though they’re less likely to win, when they do you’re guaranteed to win big. A parlay bet of two or more outcomes will always offer a higher payout than betting on each outcome individually. The caveat is that you must get all of the wagers correct to win the bet.
On this page we’ll explain everything you need to know to start betting parlays and reaping the rewards. We’ll tell you how parlays work, show you examples of parlays in action and explore how parlays work in all the major sports like NBA, NFL, MLB and NHL.
Parlay Betting Strategies:
As mentioned earlier, sportsbooks want to entice you to bet parlays. This is because a high percentage of money that the books rake in come from losing parlays. Because a parlay has multiple bets worth of vig, all legs of a parlay need to have positive expected value in order for the bet to be mathematically profitable. You can use OddsJam’s Positive EV Betting Tool to identify bets with positive expected value to add as legs in your parlay.
Fortunately for those who love the thrills of parlays, many sportsbooks run promotions that make betting parlays more beneficial. For example, FanDuel has been running a parlay insurance promotion for UFC, the NHL, and college basketball, where the bettor gets their stake back in site credit if one leg of the parlay loses. Be sure to always read the terms and conditions of promos like this, as there are often restrictions as to what type of bets can be included in the parlay. For this promotion, FanDuel restricts you from including any favorite above -200 odds.
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