How to Bet Parlays: Parlays Betting Explained

Bettors give you an enticing opportunity to earn a massive profit from a reasonably small risk amount. The idea is to combine various predictions and earn a compounded payout if all of your guesses are correct.

Parlay Betting 101

Imagine you have come up with five predictions on a particular weekend:

  • The Utah Jazz to cover the spread against the Phoenix Suns at -105.
  • New York Rangers to beat Vancouver Canucks at -135.
  • Over 141 points between Illinois and Michigan at -110.
  • Ohio State to cover against Maryland at -110.
  • Liverpool to beat Chelsea at -125.

If you have $100 to play with, you could simply divide that bankroll into 20% denominations and bet $20 on each prediction. You would then earn a profit of $86.22 if all five bets won.

However, an alternative would be to roll them into a five-leg parlay. If you wagered $100 on that and all five paid off, you would earn $2,129.59.

That shows you the compounding potential of a parlay. The profit from every correct leg rolls onto the next leg, so the results can be eye-catching.

The obvious downside is that all five legs need to be correct or the entire bet falls apart. That can make parlay betting risky, but you have options such as round robins to mitigate those risks.

How to Place a Parlay Bet

Sign up with an account with one of the top-rated bookies at Online Betting 101 to place a parlay. You can then find games you are interested in and click on selections to add them to the betslip.

After adding a second selection, a parlay option will appear on the slip. Keep adding selections until you are happy, and then type in the sum you want to wager. The slip will tell you the potential return if all the selections are correct, and you can click and confirm the parlay bet. 

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