What is Parlay and Why Should You Care?

You may have heard the term “parlay” bandied back and forth if you have been around sports betting for any length of time. But, have you taken a moment to stop and consider what a parlay really is? Have you thought about if parlaying is a strategy you might want to use with your future sports betting?

Start with a simple working definition. What does parlay actually mean? In the world of sports betting, a parlay can best be described as a combination bet. You may hear some of the old timers, the veteran sports bettors, using the term “accumulator bet”. It’s all the same thing, a parlay wager is also referred to as an accumulator wager.

When you parlay, you are linking together two or more individual bets in the hopes of winning a much larger payout. To win the parlay, you have to win at all of the bets in your combined bet, or parlay. Now understand this point: one of the big attractions to the parlay is the higher reward possible. Actually, the winning for a successful parlay can be significantly higher than a single bet. Say you set up a 5 game parlay and correctly pick all five. We are talking about laying down a $25.00 bet and walking away with $1,000. That would be a pretty good parlay, wouldn’t you say?

On the other hand, you must be sure you understand what you are doing and what it takes to win with a parlay. First, look at why the payout for a winning parlay is so much higher. Winning a parlay is much harder than winning at a single bet, simply because for each and every piece of the combination you throw in to your parlay, your odds of winning increase astronomically. Keep in mind that if any of the wagers in your parlay lose, you are out, the entire parlay is lost. So, look at the other side of the parlay equation. Go back to the same example above. You set up your five game parlay and one by one your parlay is starting to look like a winner. Ooops, that is until the very last game. Busted! Now your $25.00 bet is gone, never to be seen again, at least in your wallet.

Bottom line: A parlay can be a profitable strategy for your sports betting. However, make sure you understand the odds of winning the parlay compared to the possible payout before you make a wager. You may have heard the term “parlay” bandied back and forth if you have been around sports betting for any length of time. But, have you taken a moment to stop and consider what a parlay really is? Have you thought about if parlaying is a strategy you might want to use with your future sports betting?

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