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What Is a ‘Parlay’ Bet?

what-is-a-parlay-bet

Parlay betting is a type of wager in which multiple bets are combined into one and is also known as an accumulator (ACCA). This means that all of the bets must be successful in order to win the parlay. If even one bet loses, the entire parlay is lost. Parlays need to include at least two selections but depending on the sportsbook, you can include as many as you like.

How Parlay Odds are Calculated

The odds on a parlay bet are multiplied together and a single wager amount is made – this can increase your potential winnings, but is higher risk as you’ll receive nothing unless all the selections win. It can be particularly useful when betting on favorites, as demonstrated here with two different wager types:

straight-parlay

As you can see, wagering $10 on each selection will only yield a profit of $21.69, but if one of the selections was to let you down you could still make a small profit. If you combine all the selections into a parlay and place a combined wager, then there’s a much greater return on offer:

parlay-demonstration

Best Online Sportsbooks for Parlay Betting

These are the best sportsbooks that we recommend as of 2023 based on bonuses, odds and overall betting experience:

  1. BetOnline
  2. Sportsbetting.ag
  3. Bovada
  4. BetUS
  5. MyBookie
#1
Rating
4.9
First Deposit Bonus 50% UP TO $1000
  • US Players Accepted
  • Promo Code: BOL1000 (Minimum Deposit: $55)
See Details Terms & Conditions

MINIMUM deposit of $55.00 is required to qualify for the bonus.
You will receive a 50% bonus on your qualifying first deposit only.
Deposits via Skrill and Neteller do not qualify for this bonus.
The maximum bonus per deposit is $1,000.00.
Full terms and conditions apply.

#2
Rating
4.8
First Deposit Bonus 50% UP TO $1000
  • US Players Accepted
  • Promo Code: SB1000 (Minimum Deposit: $55)
See Details Terms & Conditions
#3
Rating
4.8
First Deposit Bonus 50% UP TO $250
  • US Players Accepted
  • Promo Code: VEGASODDS
See Details Terms & Conditions
#4
Rating
4.6
First Deposit Bonus 125% UP TO $3125
  • US Players Accepted
  • Promo Code: JOIN125 (Minimum Deposit: $100)
See Details Terms & Conditions
#5
Rating
4.4
First Deposit Bonus 100% UP TO $1000
  • US Players Accepted
  • Promo Code: VEGASODDS
See Details Terms & Conditions

MINIMUM deposit of $55.00 is required to qualify for the bonus.
You will receive a 50% bonus on your qualifying first deposit only.
Deposits via Skrill and Neteller do not qualify for this bonus.
The maximum bonus per deposit is $1,000.00.
Full terms and conditions apply.

Betonline

4.9
First Deposit Bonus 50% → $1000

MINIMUM deposit of $55.00 is required to qualify for the bonus.

You will receive a 50% bonus on your qualifying first deposit only.

Deposits via Skrill and Neteller do not qualify for this bonus.

The maximum bonus per deposit is $1,000.00.

>Read the full terms and conditions