What is a parlay in sports betting?
A parlay is a bet on two or more point spreads, over/unders or moneylines to increase the possible payout
The main reason to parlay bets is because the payout can turn into much more money than a single bet. For example, if you really like two teams to win, you can combine their moneylines into a parlay bet. Instead of betting one team at -150 to win and the other at -120, you could combine them. In a parlay, those odds would turn into +205, which means a $100 bet would pay out $305. If you bet $50 on each of those moneyline odds, the payout would be about $174.
The payout can grow as much as you want it if you keep adding bets, as a lot of sportsbooks allow up to 10-bet parlays or even up to 15. Of course, the more bets you add, the likelier it is the parlay doesn't succeed.
The problem with something like a 10-team parlay is that even if nine of those bets win, it doesn't matter if the 10th one loses. In order to win a parlay, all bets need to win (or push).
While you want every bet in a parlay to win, it's also possible that some of the bets push and you still earn some money. If you have three bets and one of them pushes, the parlay would turn into two bets, assuming those two are winners. Of note, not every sportsbook abides by these rules, though that's the most common method.
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How to do parlays on DraftKings
To do parlays on DraftKings, you need to create a DraftKings Sportsbook account and put the bets you want in your DraftKings parlay into the bet slip.
How to bet on DraftKings
To bet on DraftKings, create a sports betting account, download the DraftKings Sportsbook mobile app, and find the betting outcome you want to bet on.
Where is DraftKings legal?
DraftKings is legal for sports betting via the DraftKings Sportsbook mobile app, website or retail location in close to 20 U.S. states and 44 for DFS.
How to bet on FanDuel
You can bet on FanDuel in many ways. Once you have an account, you are able to bet on props, futures, moneylines, spreads, totals, and much more.
Where is FanDuel Sportsbook legal?
FanDuel Sportsbook is legal in 16 states. These states are AZ, CO, CT, IA, IL, IN, KS, LA, MI, NJ, NY, PA, TN, VA, WV, and WY with more coming soon.
How to do parlays on FanDuel
To bet parlays on FanDuel, you must choose multiple bets within a game OR choose multiple betting markets from other games to create a parlay ticket.
How to bet moneyline on FanDuel
To bet moneylines on FanDuel, choose a game to wager on, and then select the moneyline market. Then, place your bet with your desired wager amount.
Does FanDuel pay real money?
Yes, FanDuel pays out real money. Whether you use the DFS portion of the website, sportsbook, or online casino, you will be paid out in real money.
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