Parlay Betting Sites – Best Parlay Apps For December, 2024

Are you looking for the best betting apps and sites for betting parlays online? Various factors can make an online sports betting site perfect for betting parlays. In most cases, however, the most significant factors will be the parlay payout odds, same-game parlay options, and perhaps daily odds boosts offered.

What Betting Apps are Best For Parlays?

There is no shortage of options for parlays or parlay betting sites. Whether looking to parlay sides, totals, money lines, props, or create single-game parlays, we here at ATS.io have played at all the parlay betting sites and came up with this top 5 parlay app list:

1. FanDuel Sportsbook – Largest sports betting market & props, with a huge selection of same game parlays.
2. DraftKings Sportsbook – Best daily stepped-up parlays, with odds boosts up to 100%
3. BetMGM Sportsbook – Best parlay player rewards program
4. Caesars Sportsbook – The best selection of SGP boosts
5. Bet365 Sportsbook – Best for daily player specials and promotions

Best Parlay App & Betting Site Promotions

Parlay betting has grown significantly as more and more states in the US legalize sports betting. While most parlay betting sites offer similar odds, not all offer the same signup bonuses or promotions as shown below.

ATS.io’s Best Parlay Apps & Betting Site Reviews:

1. FanDuel Sportsbook

FanDuel Sportsbook stands tall as the innovators of same-game parlays (SGPs). Launched in 2019, SGPs took the betting world by storm, prompting other betting sites to emulate the concept. FanDuel’s cutting-edge betting app offers an unrivaled platform for parlay betting, combining a smooth user experience, competitive odds, and a plethora of props.

FanDuel Sportsbook Parlay Bet Payout Table:

A lot of different things across multiple sports can be parlayed, so you can put together a diverse Parlay Bet Slip with all of your thoughts and limit your risk by betting a little to win a lot.

FanDuel also offers Same Game Parlays that really can be used to your advantage if applied properly and also offers Parlay Insurance and Cash Out options. This is a betting site that writes a ton of parlay action and is also the most popular in the country by market share, so you will be betting with a lot of other people that have found out why FanDuel is the best parlay betting site.

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2. DraftKings Sportsbook

Notably one of the largest sports betting sites globally, DraftKings offers a comprehensive suite of parlay betting features. A major draw to DraftKings is the ample boosts and promos for regular parlays and SGPs, including up to 100% profit boost for NFL Week 1 or MLB games. Pre-selected SGPs offered by DraftKings adhere to a sensible approach, often bearing bets correlated to each other.

DraftKings Parlay App Payout Table:

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3. BetMGM

BetMGM is one of the oldest US sports betting sites and casino operators. As we talk about with the Caesars parlay betting app, this is a parlay betting site that has seen a lot of parlays in its time. Because MGM as a company has so many different resources and ways of making money, they offer some of the fairest odds in the industry. The odds still matter in the calculation of a payout from a parlay, so you still want to get the best price on the game no matter what.

BetMGM introduces a unique take on SGPs, aptly branded as “One-Game Parlays”. This platform allows users to craft custom one-game parlays from a vast selection of betting markets, including props bets. An attractive lineup of promotions enhances the appeal for parlay bettors. Their Parlay Boost feature can significantly increase your parlay payouts without adding unnecessary bets.

BetMGM Parlay Payout Table:

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4. Caesars Sportsbook

A significant catalyst for the popularity of parlay betting in the US is Caesars Sportsbook, which has made a name for itself as a top parlay betting operator globally. Users highly appreciate the competitive odds, extensive selection of props, and fair pricing for parlay betting lines.

One unique feature of Caesars is their offer of specific player props such as carries, pass attempts, and receptions. However, they lack alternate player props lines for parlay betting, limiting the creation of big plus-money parlays.

Caesars Sportsbook Parlay Payout Table:

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Types Of Parlay Bets & Betting App Promotions

Same Game Parlays

Same Game Parlays have become one of the most popular ways to wager on sports. With same game parlays, bettors can combine multiple bets from within one matchup in an attempt to amplify their profits. These parlays can include full-game lines such as point spreads and totals, as well as player props that take individual performance into account as well.

While parlays always carry more risk than a single bet, the Same Game Parlay allows bettors to put together multi-leg parlay bets on a parlay betting app with correlated results that have a better chance to win. For example, bettors who think that a team will struggle offensively in a game can bet not just on that team to go under their point total, but on individual players to go under their points props as well, for a bigger potential payout.

Parlay Profit Boosts

Parlay profit boosts are regularly offered by sportsbooks to enhance the amount that a bettor can make from each parlay bet that they place. These most often come in the form of a percentage boost on the profits that a bettor stands to make from their parlay ticket. Parlay betting sites may offer these on parlays within one sport or league, or for cross-sport parlays depending on what betting promotions they are running at the moment.

Profit boosts on parlays help to bridge the gap between the true odds of a parlay hitting and the odds that a sportsbook gives out on each parlay. Combining the profit boosts offered by sportsbooks with parlay legs that carry solid value individually is a great way to maximize the profitability of parlay betting, which is typically more profitable for the sportsbooks than anything else.

Parlay Insurance

With parlay insurance, the objective is to give bettors peace of mind when betting on parlays, which can typically provide anything but peace of mind. Parlay insurance most often is offered by sportsbooks to refund a bettor’s stake in the event that one leg of a parlay loses. Normally, if one leg of a parlay does not win, the entire bet is graded as a loss, but this insurance turns a parlay that falls short by one leg into a push instead.

The key to taking advantage of parlay insurance is to know how many legs the parlay bet needs to be in order to be eligible for insurance. Sportsbooks may require that the parlay bets be four or more legs to be eligible for parlay insurance, for example. The key in that case is to find enough legs that carry value on their own to justify placing a parlay wager with the insurance in place.

Parlay Bonuses

Another method that parlay sports betting sites use to add value onto parlay bets is to attach bonuses to parlay tickets. Parlay bonuses most often come in the form of an extra percentage added onto a parlay payout, with the percentage increasing with each additional leg that is added to the parlay. This is essentially done with the goal of getting bettors to put together the biggest parlays that they can.

While the added bonuses on parlays are nice to have, it is still important to not just throw together the biggest possible parlay to try and get the biggest bonus possible. Bettors should still research every leg they want to put into their parlay to make sure that it is a good bet. If that leg meets their criteria, then it is worth adding and reaping the rewards in the form of these parlay bonuses.

No Sweat Parlays

Sportsbooks will also offer a “No Sweat Parlay” at times to entice players to place parlay bets. No Sweat Parlays allow bettors to bet a specific amount on a parlay and to receive a bonus bet in a specific amount if the parlay does not win. This is a variation on the first bet bonuses that sportsbooks offer to new customers, just for lower stakes with the involvement of a parlay wager.

For example, a parlay betting site may offer a $20 no sweat parlay bet, where a bettor can put down a $20 parlay bet and get a $20 bonus bet if it loses. If the parlay wins, of course, bettors will get a payout that greatly exceeds that $20 amount. But if it loses, that bonus bet can be used on another parlay or on a straight bet with a higher win probability. One of the most popular No Sweat Parlay options is at DraftKings Sportsbook.

Parlay Betting Sites & Sportsbook Information:

As bettors from across the country wade into the sports betting waters, parlays seem to be an extremely popular wagering method. By definition, a parlay is any Bet Slip (sometimes called a “Ticket”) with at least two bets that are grouped together. Both bets need to win in order for the parlay ticket to be cashed.

Let’s say you like three bets. With “straight” wagering, if you win two and lose one, you get paid for your two winning bets. With parlay betting, all three bets are together on the same ticket and all three have to win, otherwise you lose the entire ticket.

A lot of people like to bet parlays because you can bet a little to win a lot. Staring down three bets at -110 is a lot different than staring down one bet at +600. The reason why parlays pay better than regular wagers is because they are a lot more difficult to win. Winning one bet might not be that hard. Winning all three bets to cash a parlay ticket is a lot more difficult.

Parlays have been around forever, but they’ve taken on a much different meaning in the era of legalized sports betting in the United States. Most parlay betting sites allow you to parlay everything under the sun. You can parlay the spread and total from the same game. You can parlay a bunch of props. Some parlay betting apps even let you parlay futures together, so like a “Tampa Bay Title” future with the Buccaneers, Lightning, and Rays all on the same ticket.

The more items you add to a parlay, the more difficult it is to win, however, the bigger the odds become. That is why you will see some crazy parlays with odds of +10000 or +50000. Parlay Betting Apps are willing to offer these outlandish payout amounts because you have a small chance of winning that bet.

For example, at +10000 odds, you need to win one out of every 100 to essentially break even. It sounds easy, right? Think of how many +10000 parlays the online sports betting sites see on a daily basis and how many of them lose. That is why you are offered such big odds and why so many people like to bet them. It’s a lot like scratching off a lottery ticket, except you have control of the numbers that you need to match in order to win.

Not all lottery tickets are low-risk, high-return ventures. Things called “Correlated Parlays” are now available to users because sportsbook apps are allowing customers to bet “Same Game Parlays”. For example, take a college basketball game with a total of 120 and a spread of +12. That game has a low-scoring expectation, so if you think it will be low-scoring, getting 12 points on the underdog is probably a good bet.

You can parlay under 120 with +12 because you believe that there is a correlation between the two. A low-scoring game and a team getting a lot of points.

Or take the NFL, where you might see a total of 55 and a line of -3. If you think that will be a high-scoring game and think the favorite will do most of the scoring or is the better offensive team, you could invest in a correlation between the favorite and the over.

Correlated Parlays

A lot of parlay betting apps used to prevent correlated parlays because the right kind of calculation can give bettors the edge. With these new-school parlay betting sites that are just looking to write any kind of action that they can, correlated parlays are back to being an option.

Why Bet Parlays?

Parlays offer up a lot of opportunities on each side of the counter. Parlay betting sites love writing parlay tickets because the vast majority of them are losers. A bettor might have a five-game parlay and go 4-1 and have nothing to show for it. Had those been straight wagers, 4-1 would have meant losing money from a sportsbook standpoint.

Bettors like them, especially those with smaller bankrolls, because you can bet a little to win a lot. Some people really do look at sports betting as a form of gambling in that way, so they can take their chances to bet small and win big. But, bettors can also use them as a weapon if they believe a certain number of events will happen.

Like a lot of bettors like to use money line parlays to put together big favorites in college football or UFC or another sport because it seems like a better use of resources to bet $10 to win $50 on a bunch of big favorites and maybe one underdog than to bet $10 and win $3 on each of the big favorites.

Parlay Betting Strategies

Parlay strategies are up for a lot of debate. Many people will say not to play parlays at all. Parlays are inherently a losing proposition because the odds given to win a parlay (the payout) are not the true odds. The actual likelihood of what you have bet occurring is not the same as the payout. In most cases, far from it. But, like everything else, there can be a time and place and a method to the madness.

We won’t sit here and preach to you about the time, but we will tell you about the place. Well, places, in this case. Some parlay betting apps are a better bet for parlays than others. Parlay Insurance is a popular perk or promotion offered by different online sports betting sites. Others allow you to parlay more things together, like player props or the Same Game Parlay options. A lot of parlay betting sites also offer Cash Out options now where you can decide to just take your winnings to that point instead of risking what you’ve already won.

If you are going to bet these long shots, at least do so at the best parlay sports betting sites so that you can limit the additional risk as much as possible.

Parlay Betting Site FAQ