Of the many ways to place a bet in the United States, parlay betting is the method that’s proving to be the most popular. Catering to bettors who want to make the most of backing multiple winning predictions on one, enhanced slip, parlay bets add another level of skill to betting.
But what exactly are parlay bets, how do parlay bets work, and how do you place a parlay bet?
Similar to full cover bets or accumulators, parlay betting is the American method of combining multiple winning outcomes into one betting slip. Due to it being more difficult to call more than one result at once, bettors utilizing parlay betting benefit from enhanced odds compared to regular single outcome betting.
While parlays and accumulators are often used interchangeably, full cover bets take a different form to parlay bets. While full cover bets can be won if a team ties or even loses, full cover bets require stakes for each combination, while parlay bets tend to be covered by a single wager.
The appeal of enhanced odds when placing parlay bets comes from the way that the odds are calculated each time another selection is added to the bet slip. Parlay bets can range from a simple selection of two teams or as many as 12 or 13 with some bookmakers.
To calculate the overall parlay odds, the odds of each selection are multiplied together. More selections mean more odds to be multiplied into the final slip odds. Then, as is the case with regular bets, those odds are multiplied by your stake to reveal the final potential returns of your parlay bet.
To start a parlay bet, you simply browse the betting markets of your choice, click to make your selections, and then they will all appear in your online betting slip. From here, you can select how you’d like to bet on these selections – often either as a parlay bet or as singles – and then input how much you wish to wager.
There are many different types of parlays that bettors like to use to bring the multiple-selection bet more in their favor. You can place a standard parlay bet where you’ll need all of your outcomes to be correct or end in a tie, or you can go with a ‘teaser’ or a ‘pleaser’ parlay bet.
Teaser parlay bets allow you to move the totals line or point spread in your favor with each selection to make winning easier. These types of parlay bets will change the totals line or point spread between six and ten points to give you a greater chance of success. Pleaser parlay bets are the opposite of teaser parlay bets as they move the totals line or point spread in the other direction to increase the difficulty of success as well as the potential payout odds.
Parlay betting can be utilized across many different markets, such as over/unders and point spreads, but the calculation of the odds makes them perfect for moneyline bets. With the odds of each selection being multiplied together and then by the stake, including teams which are all-but-certain to win can now be worthwhile. Equally, adding in a shrewd underdog to overcome long odds can enhance your parlay bet significantly.
See if you can elevate your betting game by calling multiple outcomes at once and reap the benefits of parlay betting in the US.
Even though parlay betting already significantly enhances your betting slip's odds, OddsChecker is here to help you enhance those odds even further.
By using our odds comparison tool for each game and any available market within that game, you can guarantee that your bet has the best odds possible. By simply clicking on the sport and then each game that you wish to bet on, you can quickly and easily select the best odds and put them into your bet slip for an even bigger parlay bet.
OddsChecker also recognizes that American bettors love parlay betting, so each of our game day previews includes a specifically tailored section to help parlay bettors. Our expert advice stretches across all of the major sports leagues and delves into the most popular markets, giving top tips for any sports fan who wants to dabble in some parlay betting.
With our odds comparison matrix and expert parlay advice, OddsChecker gives you the tools to capitalize on parlay betting.
We are loading your bets, and they will be here in a second.