Parlay Betting Apps – 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.
Parlay Betting Sites & Parlay Apps
First Bet Refund
Issued As Site Credit
* NBA Risk-Free Same Game Parlay – Place a 3+ Leg Same Game Parlay on any NBA Playoff Game taking place during an “Eligible Week” and get up to $10 back if you lose
* Euros Parlay Insurance – Place a parlay of 3+ Legs on the Euros. If you hit all legs except 1, get up to $25 back in site credit
* MLB Parlay Insurance – Place a parlay of 5+ Legs on MLB. If you hit all legs except 1, get up to $25 back in site credit
* UFC Parlay Insurance – Place a 5+ Leg Parlay on UFC 263 (max 1 leg per fight) and if exactly one leg loses, get a refund in site credit (max $25)
* Multi Sport Parlay Insurance – Place a parlay of 5+ legs in any sport. If you hit all legs except 1, get up to $25 back.
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.
Risk Free First Bet
Up To $1000
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.
* NBA Parlay Boost Token – To claim this Sports Promotion, log in to your online BetMGM Sports account via the mobile app or website. Upon first login today, you will receive an NBA 10% Parlay Boost Token. Token can only be used on parlay wagers with minimum of 3 legs and made entirely of NBA wagers. Token must be used within 3 days of receiving it. Maximum stake to use token is $100
Rick Free First Bet
Risk Free Bet
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.
Level Up Parlay Booster – Get a 50% cash boost on your parlay. With Unibet boosts, you decide exactly what to add to your parlay and all your winnings are 100% cash. Get up to a 50% Boost as many times as you want!
Up To $250 Deposit Match
20% Deposit Match Bonus
$1 Bonus Per $25 Wagered
4 RISK-FREE BETS
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 sports 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 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 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 parlay betting apps 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.