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What Is a Parlay Bet? Learn How Parlays Work Parlays are a popular sports bet that increase the possible payout of a wager. Covers Staff. What is a parlay? Is a parlay a good bet? What does a 3-team parlay pay? Can you parlay prop bets?

Yes, some sportsbooks will allow you to parlay prop bets. What does key parlay mean? A key parlay involves one bet that is used in multiple parlays. Can you parlay the same game? What are the chances of winning a 3-game parlay?

Do people win big on parlays? Is it better to straight bet or parlay? When should you cash out a parlay? Popular Content. Learn How To Bet on Super Bowl 58 in Under 10 Minutes! Jason Logan Jan 28, The unpredictability of sports is what makes it great and what keeps us all engaged in the action hooked.

However, unpredictability and sports betting are not the best of friends, and in particular parlay betting, as just one bad beat on a parlay slip is enough to see the entire wager lose, regardless of how many individual winners you have alongside it.

With that in mind, our expert handicappers have created a few top tips for building a parlay to help you win your wager and make it a fun way to bet. Check out below for a table of the typical point spread parlay odds.

A Round Robin Parlay is a type of bet that allows you to create multiple smaller parlays from a larger list of picks. You may have seen the round robin option at your favorite sportsbook and wondered what it is and how it works. A round robin is a bet in which you simply create multiple parlays from a series of picks.

The most common type of round robin bet is to choose three teams and create three separate two-leg parlays from them. In the example above, you would have 3 separate 2-team parlays that look like this;.

But the other parlay can still win to either see a profit or mitigate some of your losses. One of the key details to remember with round robin bets is that you are investing an amount per combination. Check out all of the round robin parlay options, including the number of combinations and total investments in the table below.

If you want to place a bet online via mobile or on the computer then it is very simple, and not much different from a normal straight wager. All you need to do is head to your sportsbook and select all of your picks, whether they involve teams, totals or exotic bets.

Once you have multiple selections on your bet slip, you will see the parlay option appear, as shown below. The odds will update with each selection added, and when you enter your stake into the bet slip, it will also calculate your potential winnings.

Some retail sportsbooks will also have parlay cards you can fill out and take to the window. FanDuel Sportsbook is a great option for parlay bettors.

With a wide variety of sports and markets that you can combine into parlays, the possibilities at FanDuel are endless. FanDuel Sportsbook is almost always competitively priced so you can rest assured knowing you are likely wagering at some of the best possible odds.

betting industry. This relatively new option is a great way to enjoy a wager on a primetime game or while tuning in to your favorite team. At FanDuel Sportsbook, events that offer the Same Game Parlay can be found by their green SGP logo under the teams.

The Same Game Parlay allows you to combine multiple wagers such as money lines, spreads, totals and props into one wager on the game.

There are many sports that lend themselves towards being good ones to bet parlays, but ultimately a parlay is typically a fun, longshot bet so whatever sports you enjoy or feel you know best are great options.

With a parlay being a multi-leg bet, the best sports are often ones with schedules that include multiple games per day. The best example of this and the most popular sport to wager on is the NFL. Football Sundays are great opportunities to try an NFL parlay, with anywhere up to 16 games on a Sunday there are countless parlay options from money line, spreads, totals or exotics.

If football is not your thing, then why not basketball? Both professional and collegiate basketball schedules have multiple games per day, and also with a wealth of markets to combine and choose from.

An NBA parlay offers just as much variation as an NFL one, and in the collegiate ranks, tournaments like March Madness where you can see up to 32 games in the First Round, are fun opportunities to try to win big on a March Madness parlay.

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Please bet responsibly. There is absolutely no way that repeats, and there were plenty of anomalous stats in that first meeting. Still, the Heels have not quite been clicking on offense in recent weeks, and they are relying more on their defense at times.

I think this total hinges on whether this game can stay fairly close. If the Pack can keep the Tar Heels in range, we should push past this total. If Carolina blows them off the floor, this total is in trouble. I think the Pack will have a hard time keeping UNC under 80 though, and if State can get into the 70s, we should beat this mark.

I will most likely take a lowered alt line and pair it with a UNC win, personally, but playing the over makes sense to me, too. The second-ranked Purdue Boilermakers host the Michigan State Spartans on Saturday in a Big Ten showdown.

Purdue sits atop the conference at and has yet to lose at home this season, boasting a perfect record at Mackey Arena. They are led by National Player of the Year frontrunner Zach Edey, who is averaging Edey dominated Michigan State last year, averaging Michigan State is trending downward with back-to-back home losses to Iowa and Ohio State.

Their NCAA Tournament hopes are in jeopardy as their offense has sputtered. The Boilermakers are simply a nightmare matchup for Michigan State. Edey is an unstoppable force inside and the Spartans lack the size to contain him.

The Boilermakers should cruise past 10 points at home behind another monster effort from Edey. Back Purdue laying the The St. Louis Blues and Minnesota Wild face off on this busy day of NHL hockey. These Central Division opponents are neck and neck in the standings, as the Blues own a one-point advantage with one game in hand.

This is a crucial game for two teams looking to make the playoffs, so it sets up what should be an exciting battle. My pick for the game is the Minnesota Wild. Minnesota has been surging overall recently, as they are since the All-Star break.

They have lost two straight games, and should be highly motivated to get back on track. The Blues have lost three-straight games, while being outscored They are in their last eight games, so they are not a team who is clicking.

This presents a great opportunity for Minnesota to get on them early and diminish their confidence even more. I would also give them the advantage in between the pipes with Marc-Andre Fleury making the start.

Take the Minnesota Wild to win this game on the road. The Montreal Canadiens travel to Tampa Bay to take on the Lightning for the third time this season. Tampa Bay leads the season series and are looking to add another win to their total. They are a different team on home ice, scoring 3. Montreal was able to steal a point against the Panthers earlier in the week thanks to a shootout loss, but historically, they have not done well in Tampa Bay.

As a team, the Canadiens are horrendous on the road, scoring just 2. The Lightning are electric on the power play and they will make you pay if you are undisciplined. Considering how important this matchup is for Tampa Bay, look for them to come out and really push the pace and secure the win by more than a single goal.

The Rangers of New York hit the road for Scotiabank Arena in Toronto to tangle with the Maple Leafs in an Original Six battle. Toronto posted a win at Madison Square Garden on Dec. The Rangers have cashed the Under in five in a row, so there is some risk here playing the Over.

However, the offense is averaging a respectable 3. But the Toronto offense has been on fire lately, too, going for four or more goals in eight of the past nine outings, while coughing up at least three goals in four of the past five contests.

Go high on the total, as the Over looks to cash for the third time is as many meetings between these teams this season. Here at Pickswise, we are the experts of all things picks and parlays. Parlays are a type of sports bet in which you combine multiple selections into one single bet.

This means every leg of your parlay must win for your ticket to cash, even one losing leg is enough for the parlay to lose. This adds a layer of difficulty with each pick added to your parlay, but this also sees the odds of your parlay bet increase.

You can combine many different types of bets into a parlay such as Money Line, Spreads, Totals or even Player Props and Team Props. The combinations are endless, and our experts find there best picks from various sports to combine our best picks and parlays today.

Here at Pickswise, out expert handicappers are always working to find you the best free parlays picks. With a plethora of sport played on any given day, any time of the year, we post our daily picks and parlays, well, daily.

You can find all of our parlay picks, right here on the designated Pickswise parlays page every morning. All of our Parlay picks come with expert analysis and the best-combined parlay odds from the top online sportsbooks.

If so, be sure to check out these sportsbook promo codes before you do:. Better odds. Think of it this way. The implied odds of a bet are The implied odds of two bets are The implied odds of three are Parlays very often lose.

Especially when you start adding more teams. Most online sportsbooks make it pretty easy to make a parlay. If you select multiple bets, an option for a parlay will usually show up in your betslip, which on most books is on the right-hand side of the screen.

You also may see options for teasers, round robins or other kinds of bets. Some books also offer live parlays, which you can do in-game. If, for example, the result of multiplying legs of a parlay bet is 6. The short answer: sportsbooks tend to make a good chunk of their money off of parlay bets, and it's rare to find a bet priced at what you'll expect.

Pick a sportsbook that keeps its lines competitive for the best price possible on a bet. For starters, wagering is for entertainment and not investment, so as long as you're betting within your limits, there's no wrong time to place a parlay wager.

However, if for example you want to place simple moneyline bets on three matches happening on the same night, you might as well turn it into a parlay for a much higher potential payout. Calling all three bets correctly on one parlay is a lot tougher than calling three moneylines , so choose wisely: you're not going to have the other two bets to fall back on if one leg fails.

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Gambling problem? Correlated parlays are two or more bets from the same game that rely on a closely related outcome: for example, betting that a football soccer team might both score more than three goals in a match, and also win the match.

These are not independent events , as a team that scores more than three goals is also very likely to win the match. A naive application of odds that treated these events as uncorrelated would not accurately reflect the probability of the linked bet. However, with the rise of sports betting over mobile gambling apps in the late s—s, this traditional hesitance has weakened.

These newer apps often allow "microbets" on propositions such as if the current possession will end in a score, and further allow these props to be bundled into parlays.

The system then attempts to compensate on how correlated these props are. While these systems usually prefer to lean heavily in the house's favor, the increased volatility from these bundles has resulted in some notable cases where bettors have found favorable odds.

This isn't always a windfall for the bettors, though, as these newer-style sportsbooks have sometimes simply refused to pay out in those cases if the parlay comes through. Parlay bets are paid out at odds higher than the typical single game bet, but still below the "true" odds. For instance, a common two-team NFL parlay based entirely on the spread generally has a payout of 2.

The best way to analyze if a parlay is profitable in the long term is by calculating the expected value. Since the probability of all possible events will add up to 1 this can also be looked at as the weighted average of the event.

The table below represents odds. Contents move to sidebar hide.