A parlay bet is a wager that links several single bets together to form one bet. The winnings from every single bet are reinvested into the next leg of the parlay. A parlay bet is also called an accumulator bet, and on first glance appears to be the same as a multi bet. A parlay is simply a combo bet where, rather than betting several teams individually, you group them into a single wager. Using this option, the payout is greater and the risk is less, but you need all teams selected to win. To give an example, say you’re interested this week in betting Jets -4, Patriots +3, Dolphins +2.5 and Colts -7. A 'correlated parlay' is a parlay wager that includes two or more events, generally in the same game, that have a strong relationship to each other - if one happens then the other is very likely.

A wager on one team is called a Straight Bet. MyBookie allows bettors to combine multiple selections into one wager. This is called a Parlay.

When you create Parlay wagers, every selection added to your bet slip increases the wager odds and your potential payout. This makes Parlays a potentially quick way to score a huge profit on a small wager amount. For your bet to win, every selection in the parlay must win.

To create a Parlay simply:

1. Add your wager selections to the Bet Slip (displayed on the right side of the homepage).
2. Select the ‘Parlay’ option in the Bet Slip and enter your BetAmount.
3. Click ‘Place bet’ and follow the confirmation process to completion.

Not all wagering options can be combined into a Parlay:

• Proposition plays and future bets can’t be parlayed.
• MyBookie allows a maximum underdog odds of +500 for circled plays included in parlays.
• In case of a tie or no action, the parlay will revert to a lower-level payoff, except in a 2-team parlay (tie reverts to a straight bet).

Did you know? : A Las Vegas resident cashed a 15-team parlay in 2016, turning a $5 wager into more than $300,000.

More articles Related to these Topics definition, how to bet, Parlay, wagering

What Is A Parlay Betting

What is a Parlay Bet?

What Is A Parlay Wager

A parlay is a sports bet in which you combine multiple individual bets. You must win the entire combination of bets or you lose. It’s that simple.

To choose a parlay wager, you first select at least two standard wagers you like. It could include bets against the spread, moneyline wagers, or the over/under. The more bets you make for your parlay, the more you can win. But there’s always a caveat. Once you start getting into four or higher team parlays, they become extremely difficult to win.

What makes parlays so difficult is you have to win 100% of your games. Whereas, with regular bets against the spread, for example, you only need to win around 60 percent to turn a profit. Parlays can sometimes be frustrating because you could conceivably run pretty hot and still lose. We’ve had some parlay losers where we actually won around 70 percent of the games.

But there’s certainly a ton of upside and some great benefits to betting parlays as opposed to just straight wagers. If all you’re doing is betting individual games against the spread, you’re limiting how much you can win. A $110 bet typically only pays a $100 profit, which really isn’t that great.

What Is A Parlay Bet In Football

What Is A Parlay Bet

Sure, if you’re really good at betting the spread or over/unders and you get in enough volume, you’ll make a nice living. You still won’t make as much if you become skilled at betting parlays, however. The profit potential on parlays is much higher.