Best Parlay Betting Sites – Top US Parlay Sportsbooks – 2021

Parlay Sportsbooks

In our minds, these are the best sportsbooks for betting parlays for a variety of reasons. A lot of times, the best US sportsbooks overall are going to be the best in a lot of areas.

Top Parlay Betting Sites

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PointsBet

PointsBet Sportsbook doesn’t have as many options to parlay in some instances, but is one that regularly offers Parlay Insurance. If you win all but one leg of a parlay ticket, you can claim a refund, generally up to either $25 or $50 depending on the promotion running at that time. There is nothing worse with a parlay than winning four out of five and having nothing to show for it.

Fortunately, if you bet at a sportsbook with Parlay Insurance like that, you can cut your losses a little bit by either getting a full refund or a partial refund, depending on the amount of the initial bet.

Overall Rating 5/5

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BetMGM

BetMGM is one of the oldest US operators. Like we’ll talk about with William Hill, this is a sportsbook 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 offers the Single Game Parlay and also has the Bet Builder function right on the main page of the sportsbook so that you can construct a parlay and see in real-time what the payout odds would be for that Bet Slip.

Overall Rating 5/5

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BetRivers

BetRivers and DraftKings have very similar parlay options, though one really special feature is the Jackpot Parlay at BetRivers. These are bet types with long odds because eight randomly selected bet options are sent to you. Typically you’d want to bet a parlay where you like a lot of the things on it, but, the Jackpot Parlay adds a little more gamble and you can bet small to win big, so as long as you do it responsibly and don’t overdo it, this is a cool option at BetRivers that other sportsbooks do not offer.

As always, no matter where you bet, do it responsibly. Parlays seem fun and like a great opportunity to make a lot of money, but they are extremely challenging to consistently win and even to occasionally win, depending on how many bets are on it.

Overall Rating 5/5

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DraftKings

DraftKings Sportsbook is another sportsbook that offers Parlay Insurance and has a lot of different props and odds to parlay together. Their insurance policy isn’t as strong as somewhere like PointsBet, but the catalog of betting options is likely going to be a lot bigger. That’s really the difference between the two.

PointsBet’s ongoing weekly promotions seem to be stronger in the parlay department, but you really can’t go wrong with DraftKings either.

Overall Rating 5/5

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William Hill

Parlays are big business across the pond in Europe. They were less of a thing when betting in the United States was restricted to Nevada, but they’ve really become the preferred bet type in the US. William Hill started in 1934 in London and operated in the UK and other parts of the world long before the US Supreme Court overturned PASPA. In other words, William Hill has been an industry leader in the parlay betting department for longer than the US operators have been in existence.

William Hill has fair pricing on odds and that carries over to very fair pricing on parlays as well.

Overall Rating 4/5

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FanDuel

FanDuel Sportsbook is one of the best parlay sportsbooks because it is one where you can parlay basically anything you want. FanDuel was one of the first to highlight the big player props parlays that you’ve certainly heard about and have seen reported in the mainstream media. A lot of different things across multiple sports can be parlayed, so you can put together a diverse Bet Slip with all of your thoughts and limit your risk by betting a little to win a lot.

FanDuel also offers the Same Game Parlay option that really can be used to your advantage if applied properly and also offers Parlay Insurance and Cash Out options. This is a sportsbook 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 sportsbook.

Overall Rating 5/5

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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 wagering, 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 sportsbooks 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 sportsbooks 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. Sportsbooks 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 sportsbooks 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 sportsbooks 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.

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

Parlays offer up a lot of opportunities on each side of the counter. Sportsbooks 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 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 sportsbooks are a better bet for parlays than others. Parlay Insurance is a popular perk or promotion offered by different sportsbooks. Others allow you to parlay more things together, like player props or the Same Game Parlay options. A lot of sportsbooks 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 sportsbooks so that you can limit the additional risk as much as possible.