Parlays are a big part of the sports betting equation for both sides of the counter. Bettors like to play them because they can be low-cost investments in hopes of a big pay day. Parlay betting sites love them because of high hold percentages. Parlays are very hard to win and the true odds of hitting a parlay are never fully reflected in the “To Win” amount box.
There is a lot of demand for parlays nowadays. The fact that you can bet a little to win is a lot is very attractive, especially to a lot of new bettors that are starting out. It is akin to playing a slot machine hoping for a jackpot or scratching off a lottery ticket. You have to know that you probably aren’t going to win, but as long as you are practicing financial responsibility with parlays, they can be a low-cost and fun way to bet.
Because demand has been increasing, a lot of sportsbook operators are attempting to figure out ways to make them a lot more accessible to customers. BetMGM Sportsbook has done that with the same-game parlay product, Parlay Builder.
Parlay Builder is the brainchild of BetMGM and BetGenius. Same-game parlays have gotten really popular because bettors feel like they have an edge if everything goes according to plan. We’ve also seen a much higher frequency of cross-sport and prop parlays that are something relatively new in the gambling space. For a long period of time, parlays were honestly pretty restrictive, but more sportsbooks are embracing the PR value and the high margins that they provide, so customers are getting more and more free reign to bet whatever they want.
With Parlay Builder, you’ll easily get access to upwards of 400 different bet types within the same game across major sports leagues like the NFL, NBA, and soccer. Additional sports will be added as the product continues to evolve and as demand continues to create a greater need for supply.
You can build and customize same-game parlays, so you can bet on something like Tampa Bay +7 with Tom Brady over 2.5 touchdowns at -115, Mike Evans to score a touchdown at +500, Jason Pierre-Paul over 0.5 sacks at +110, Carlton Davis Interception Yes at +250, and Ronald Jones under 74.5 rushing yards at -115 and you can do so all on one ticket.
This product is an offshoot of BetBuilder from Betgenius, which was a product afforded to the European sports betting markets. Now it has come stateside in the form of Parlay Builder and looks to be a big win for BetMGM.
If you want to try out Parlay Builder or simply want a good sign-up bonus, we encourage you to check out BetMGM Sportsbook, where you can get up to a $500 risk-free bet with your sign up and deposit. BetMGM is currently operating in Indiana, Colorado, New Jersey, West Virginia, and Nevada, but will be starting mobile operations in Michigan and Tennessee within the next few weeks.
If you live adjacent to one of those states, like living in Louisville, Kentucky or Cincinnati, Ohio, you can still sign up with BetMGM and get a deposit bonus. You’ll just have to place your bets across state lines in a legal jurisdiction like Indiana.