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A parlay bet can be one of the most exciting ways to bet. It's a great way to get better odds and an exciting way to win.

But before you bet parlays, first of all you need to understand them.

Parlays have a special place in the sports betting tradition. There are many stories of a crazy parlay bet paying out big bucks against all odds. A parlay bet is one of the most well-known forms of sports betting. The great thing about parlays is that sports bettors can bet on two or more spread points, over/under or Moneyline Bets, earning a higher payout if all of their choices win, rather than placing a single bet on each individually.

So what is parlay? How does parlay work? Should I bet parlays?

We will cover the answers to these and other questions here, as we go through all things. Keep on reading.

What is a parlay bet?

A parlay bet is a sports bet that combines multiple bets on a single bet on one ticket. Usually group straight-up bets with spreads and totals. However, you can have multiple versions of the same bet as long as they are on different games.

How does Parlays work?

If even one bet in your sports parlay is a loss, your whole parlay bet loses. That's exactly how parlay bets work. You can make NFL parlays or combine different bets from different sports. For example, you can make a straight bet on a Major League Baseball game coupled with a bet on a basketball point spread.

What does Parlay mean?

On your sports betting site, parlays may be called accumulators, combo bets, or multi wagers - a single bet that connects two or more individual bets and depends on all those bets winning together.

Should I accept a parlay bet?

Research every bet and keep an eye on your bankroll. Even though parlays offers a bigger payout, you still want to make sure you have enough money to keep betting. This is a problem with combined play that you want to avoid at all costs. When making your deposit, remember that if you lose even one bet on your card, all bets in your parlay are lose.

If you place a three-game point spread parlay and only get two, the parlay ticket is a loser. Having spreads and totals on your card means you are looking at more than just teams winning, so pay attention to team reports and betting trends.

How to make a parlay bet

Most online bookmakers make it quite easy to create a parlay. If you select multiple bets, a parlay option will usually appear on your bet slip, which is on the right side of the screen for most books. You may also see options for teasers, round robins, or other types of bets.

Some books even offer live parlays, which you can do in the game. You can also do multisport parlays or just about anything you want.

What happens if a match is canceled in a parlay?

First, we recommend that you check the rules in your specific bookmaker. But in general, if a match is canceled, the parlay will be reduced to the next number of teams. This also applies if a match ends in a draw or push.

Why Parlay pays more?

We know what parlays are, but how can this bet have higher payouts than what you would get from individual bets? Risk is the answer to why parlay pays more than traditional sports betting.

There are no guarantees when it comes to sports betting, so risk is always present for every part of a parlay. Even a three-legged parlay has a good chance of failing, even if there are only three chances of losing one. Risk is why you get a big cash payout if your parlay wins.

It is important to note that your parlay payout depends on your leg odds. Every sports bet is always linked to the odds of winning. Adding risky bets like underdog moneylines gives you a higher prize money if your parlay wins.

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