NFL parlay betting will always be popular among bettors, as the potential to make a lot of money on a small wager is there. Parlay bets also allow bettors to have action on several different games for the cost of a single wager.
NFL Parlay Pick Of The Week – NFL Divisional Round
In a reversal, we won the parlay but dropped both teasers last week. That moves the parlay record to 9-19 (-3.85) for the season and will have just one for this week, as we’re down to the final eight teams.
Parlay 1: San Francisco -4/New York Giants +7.5 at +260
Just a straight two-team parlay on the two NFC games this week. The 49ers are playing as well as anybody in the league right now and Dallas is getting a little too much respect after blowing out Tampa Bay in a dismal game for the Bucs. Dallas scores 27.7 points per game against teams allowing 22.3 points, while scoring 25.3 points on the road. Dallas allowed 19.8 points to teams that averaged 21.5 points on the season. On the road, the Cowboys allowed 19.9 points. Dallas ran for 134.8 yards per game but will have trouble against San Francisco’s rushing defense. The 49ers run for 141.2 yards per game and Dallas isn’t anything special defending the run.
The 49ers have gotten the job done no matter who lines up behind center, as the team’s defense takes a lot of pressure off a quarterback. Knowing that you don’t need to score a lot of points to come away with a win is a good feeling for a quarterback and think the 49ers win by at least a touchdown.
The Giants won’t have the same success against the Eagles throwing the ball as they did against the Vikings, but believe they’ll score enough to stay within the spread. The Giants may be a little overrated, but the Eagles probably aren’t all they’re cracked up to be either. Both teams run the ball well and neither are great at stopping the run, so the Giants don’t want to fall behind by a couple of scores. As long as the Giants are within striking distance, they can mix the run and the pass to keep the Eagles off balance. The Giants have covered five straight games, including one against the Eagles a few weeks back when they lost by six. New York has run for at least 126 yards in each of those five games and have a solid chance at the cover in this week and if they can continue that streak. Philadelphia has failed to cover the spread in three straight games and are getting a little too much respect in this spot.
What are NFL Parlay Bets?
NFL parlay bets are simply a wager comprised of two or more selections that all must win in order for you to have a winning wager. Going 4-1 is no different than going 0-5 when it comes to parlays. You have to win all of the bets in your parlay in order to cash your wager.
Each individual sportsbook has its own rules regarding the types of wagers that can be used in a parlay, payouts, as well as the number of teams that can be used.
What Types of Parlay Bets are Available?
- Moneyline parlays: are a wager that consists of two or more teams you have selected to win the game straight-up. The margin of victory isn’t a factor when you bet moneyline parlays.
- Props: You can also group several different proposition bets into a parlay. Proposition bets are typically player related, such as the number of yards Kirk Cousins throws for or the player to score first in the Kansas City Chiefs game.
- Spreads: The most popular parlay bet is the straight point spread parlay, where you choose two or more teams, or totals, in your parlay.
- Futures: Futures parlays involve two or more futures bets and can offer some huge payouts if you win your bet. You’re typically using two or more teams at plus money and a parlay with two teams at 4-to-1 odds returns $230 profit for each $10 wager.
- Alternative Bets: A parlay using alternative lines can resemble a teaser, if you’re taking the more advantageous odds, or a pleaser, if you take the lower odds. It can also be a combination of both if you take one team with the advantageous odds and another with lower odds.
A parlay doesn’t have to consist of all moneyline wagers or all point spread wagers. It can be a mixture of the two or other types of wagers. One of the most popular parlays is the Monday Night Football side and total, although both of those fall under the point spread parlay category. But you can parlay the Monday night total to the moneyline winner of the game, as well.
The only limitations on the types of bets you can use in parlays are those set by the NFL betting sites. Some are more generous than others when it comes to NFL parlays.
Best Online Sportsbooks for NFL Parlay Betting
BetMGM Online Sportsbook
If you bet NFL parlays, BetMGM is a sportsbook you want to have. BetMGM allows NFL bettors to bet One Game Parlays, which allows you to make multiple parlay wagers involving the same game, something not all sportsbooks do. BetMGM is available in Arizona, Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, Missouri, Nevada, New Jersey, New York, Pennsylvania, Tennessee, Virginia, Washington, D.C, West Virginia, and Wyoming.
Caesars Sportsbook
Caesars also allows NFL bettors to place One Game Parlays, which is a good thing for bettors looking for an edge, or just looking to add a bit more excitement to watching a game. Caesars sportsbook offers a number of prop bets other sportsbooks don’t. Caesars is available in Arizona, Colorado, Iowa, Illinois, Indiana, Michigan, Nevada, New Jersey, New York, Pennsylvania, Tennessee, Virginia, and West Virginia.
DraftKings Online Sportsbook
DraftKings is one of the giants of the online sports betting world and an excellent choice for NFL parlays. Bettors can bet Same Game Parlays or the traditional parlays. Offers a nice selection of prop bets for same game parlays. DraftKings is available in Arizona, Colorado, Connecticut, Iowa, Indiana, Louisiana, Michigan, New Jersey, New York, Pennsylvania, Tennessee, Virginia, Wyoming, and West Virginia.
Fubo Sportsbook
WynnBet Sportsbook offers decent lines, which makes them a good choice for NFL parlay bettors. They have a good selection of alternate lines and proposition bets. Wynnbet is available in Arizona, Colorado, Indiana, Louisiana, Michigan, New Jersey, New York, Tennessee, and Virginia.
Bet365
Bet365 is another sportsbook that allows Same Game Parlays, giving bettors a chance to zero in on their favorites teams or the teams they are most familiar with. Bet365 offers plenty of prop bets and alternate lines, along with the ability to see the updated odds on your Single Game Parlay if you added a particular leg to your parlay. Bet365 is available in New Jersey.
PointsBet
PointsBet is another sportsbook offering Single Game Parlays and also offer a good number of proposition bets and alternative odds. PointsBet is available in Colorado, Illinois, Indiana, Iowa, Louisiana, Michigan, New Jersey, New York, Pennsylvania, Virginia, and West Virginia.
How to read NFL Parlay Betting Lines and Odds?
NFL parlay payouts aren’t quite etched in stone the way they were in the past. The payouts will be determined by the odds and will vary depending on the odds of each game used in your parlay.
In previous years, bettors could expect to get odds of 13-to-5 on a two-team parlay, 6-to-1 on a three-team parlay, etc., but that has changed a bit recently, with more games being offered at odds different than the traditional -110 for point spread wagers. Two NFL teams that are -115 will return less in a two-team parlay than two teams that are -110.
Calculating the payout on a parlay is simple but does involve a bit of math. The first step is to take the moneyline odds and convert to a decimal. If you are using a moneyline favorite, take the amount risked and divide by the total payout. To win $100 on a -150 favorite, the bettor would have to risk $150, so the total payout is $250. Take 250 and divide by 150, which is 250/150=1.66.
For moneyline underdogs, you divide the payout by the money risked, so a +150 underdog, would return $250 for a $100 wager, and 250/100 = 2.50.
The final step is to multiple your numbers together and 1.66 multiplied by 2.5 is 4.15, meaning a $100 parlay on a -150 favorite and a +150 underdog would return roughly $415, leaving a bettor with $315 in profit. Three +150 underdogs is 2.5*2.5*2.5=15.625, so a $100 parlay on three +150 underdogs would return $1,562.50, meaning a profit of $1,462.50.
Should I Price Shop for the Best Lines on NFL Parlay Bets?
Having access to as many different betting lines as possible is always beneficial to the bettor, who can choose which sportsbook to place a bet at. If one sportsbook has the Bills -7 (-115) and another has Buffalo -7 (-110), the sportsbook offering the Bills at -110 will return a slightly higher parlay payout than the sportsbook offering -115. It pays to shop for lines.
What is a Same Game Parlay?
Same Game Parlays are pretty much what the name implies, a parlay made of selections from the same game. Once taboo in the sports betting world, Same Game Parlays have caught on with the majority of sportsbooks and are popular among bettors.
Same Game Parlays offer the chance to make a correlated parlay, which is when you have several legs of a parlay and if one leg wins, it increases the chance of another leg winning. If you believe Patrick Mahomes is going to have a huge game, a Single Game Parlay would allow you to bet Mahomes over 1.5 TDs, Mahomes over 280 passing yards, and the Chiefs team total over 27.
Bettors will pay a premium when placing correlated parlays, as the payouts are reduced, which is to be expected considering your chances of winning several wagers can be increased, especially those involving the same player or a quarterback/wide receiver tandem.
What to Look For When Betting NFL Parlays Online
Parlay Betting Selection
If you plan to bet parlays and enjoy placing wagers on player prop bets, alternative lines, or futures, it makes sense to try and find a parlay sportsbook that allows you to combine all of the different bets in a parlay.
Best Odds
Sportsbooks don’t always offer the same odds when it comes to parlays, especially those involving point spread wagers. One sportsbook could offer +260 on a two-team fixed-price parlay, while another sportsbook will offer +264 on the same parlay. Bettors need to find the best price they can.
Best Lines
You owe it to yourself to get the best lines you can on any sports wager you place, whether it be a straight bet, teaser, or parlay. It only takes a few minutes to check the odds at different sportsbooks and is time well spent.
Same Game Parlays
The ability to bet Single Game Parlays will be more important to some bettors than others, but for those who have the ability to visualize how a game will transpire – such as fantasy football gurus – the ability to place Same Game Parlays can be fun and profitable.
Promotions
A number of sportsbooks have various promotions that are tied into teasers, such as increased payouts, and should be taken advantage of when you believe you have the odds in your favor.
Basic NFL Parlay Betting strategy
There are several different trains of thought when it comes to betting parlays. There is really no correct way or incorrect way to bet parlays. The most common theory is to limit the number of selections to two or three teams, as it’s difficult enough to pick one game, let along two or three. But others like to ‘go for broke’ on parlays and make small bets using a number of selections and go for a big payout.
One common strategy is to bet several solid moneyline favorites in a parlay. Betting on an 8-point favorite to win a game outright will require a large outlay of money in order to win a little bit of cash, but if you parlay three -270 favorites, you payout will be roughly +157, which isn’t a bad return.
Other bettors insist on having at least one underdog in their parlays in order to boost the profits. If you added an underdog of +110 to the three -270 favorites shown above, your payout goes from +157 to +440, which is a pretty significant increase for adding just one team that has a fair chance of winning.
NFL Parlay Betting Promotions
Sportsbooks will offer parlay promotions and parlay boosts during the course of the season. BetMGM offers its Parlay Boost to customers at random times or for placing other wagers. When you use a Parlay Boost you get an extra 10% payout should you win.
When using a parlay promotion that increases your payout, you’re typically better off playing parlays with just a couple of selections, as your boost only kicks in should you happen to win your bet.
Parlays are tough to win at, but you can increase your odds of coming out ahead by taking advantage of added payouts when they’re available to you.
Where Can I Bet NFL Parlays Online?
All sportsbooks will offer some sort of NFL parlay wagers. They will range from the basic fixed-price parlays to Same Game Parlays, but they will be available.
You can bet NFL parlays in the following states:
- Arizona
- Arkansas
- Colorado
- Connecticut
- Delaware
- Illinois
- Indiana
- Iowa
- Louisiana
- Michigan
- Mississippi
- Montana
- Nevada
- New Hampshire
- New Jersey
- New York
- Oregon
- Pennsylvania
- Rhode Island
- South Dakota
- Tennessee
- Virginia
- Washington
- Washington, D.C.
- West Virginia
- Wyoming
