Last updated on: October 20th, 2023
Betting On A Parlay
Parlays are one of the most common types of bets placed at online sportsbooks. Parlays are a combination of multiple bets that allow players to get better odds and win bigger at legal sports betting sites. Players do not just get the improved payouts without any added risk, as every bet (commonly referred to as “legs”) must be successful for players to get paid out. Odds for parlays improve as players add more risk, whether that is more legs or by picking individual legs with a worse chance of success. This ability to influence odds on parlays can make some payouts extreme. Despite the large payouts that are possible, some legal sportsbooks actually prefer that their players create parlays rather than betting on each leg individually. That’s because the added risk parlays bring often make them the most profitable bets at legal betting sites.
Best Online Sportsbooks For Parlays
There are a few different factors that go into finding the best online sportsbooks for parlays. Trustworthy legal sportsbooks online are the best starting point for players looking to create parlays. Then players need to be able to place standard parlays and round robins. Finally, players need sportsbooks with high maximum payouts so that they can actually receive the funds. The sites below accept US players and fulfill those requirements, making them the best online sportsbooks for parlays.
The best sportsbook for parlays, Bovada allows players to win big in many ways and easily withdraw those winnings. Parlays at Bovada can go up to 16 legs on one ticket with players able to create parlays across multiple sports. Additionally, Bovada offers round robins with between three and eight legs. After a successful parlay at Bovada, there are many ways to withdraw large amounts of funds. There is no limit on crypto payouts (they come in $10,000 increments if players win north of $10,000), with Direct Bank Transfers paying out up to $9,500.
- Maximum Legs of a Parlay: 16
- Live Cash Outs for Parlays: Yes
- Maximum Payout: Unlimited
- Round Robins: Yes
What Sportsbook Have The Best Odds For Parlays?
The odds for parlays are dependent on the picks that users are adding to them, but many legal sportsbooks for parlays do have payout charts that indicate the odds given when a parlay is only made up using bets with -110 odds. The -110 odds point is key, as the majority of bets on the spread or the total of a game have those odds. Not all sportsbooks offer the same payouts for parlays. The table below shows that Bovada has the best odds for a parlay at -110 odds. BetOnline comes in a close seconds. The sportsbook with the best parlay odds will have a * next to it.
Comparing Sportsbook Odds For Parlays
With players able to place parlays up to 15 legs long and/or worth a payday of $150,000 BetOnline belongs at or near the top of any list regarding the best parlay sportsbooks that accept US players. Placing large parlays potentially worth a lot of money is only one of the reasons that BetOnline is a top option. Players know that BetOnline is trustworthy, with the site taking Americans since 2004. Additionally, the maximum payout of $100,000 with their many cryptocurrencies is a big plus.
- Maximum Legs of a Parlay: 15
- Live Cash Outs for Parlays: Yes
- Maximum Payout: $100,00
- Round Robins: Yes
What Are Same Game Parlays?
All of the best betting sites in the US offer same game parlays. Players can combine different player props and game lines into one parlay slip. The Bovada Prop Builder tool is one of the best ways for players in the US to bet same game parlays. These are great for bettors that want to lock in on only one matchup. It is worth noting that some sportsbooks will reduce the odds on same game parlays because certain player props correlate heavily to other outcomes also happening (think quarterback passing yards and receiving yards by one of their receivers). Same game parlays are the best way for bettors to include player props in their parlays
What Are Round Robin Parlays?
Round robins are a relatively new feature at many parlay betting sites in the US. Round robins are effectively a simple way to place multiple parlays at once. Players typically choose between three and eight bets that they like and then choose how they would like to round robin them. Round robins are a combination of smaller parlays made of bets that a player chooses. For example, players could select six bets and then create every combination of five pick parlays in one round robin. By creating every possible five-team parlay, players are effectively hedging their bets because they can still cash if one bet is unsuccessful.
Common Bets Placed In A Parlay
Parlays are primarily made up of the three main bet types offered for any major sporting event: the spread, moneyline, and total. Players cannot include the spread and moneyline in the same parlay slip, but most parlay sportsbooks in the US do allow players to include a bet on either the spread or moneyline with a bet on the total. A quick synopsis of the main bets included in parlays is below.
- Spread: The adjusted line that typically has -110 odds attached to it. Sportsbooks assign this line to give both teams or players a chance to win the bet. For example, if the Kansas City Chiefs were six-point favorites (-6) versus the Las Vegas Raiders then the Chiefs would have to win by at least seven points to cover the spread. A bet on the Raiders to cover the spread would be on them to either win or lose by less than six points.
- Moneyline: Bets on the moneyline are a bet on which team will win the game. Sportsbooks adjust the betting lines on moneylines based on which team is expected to win. Moneylines can be advantages when creating parlays because bettors can combine multiple big favorites and get better payouts.
Total: For totals, players bet on whether or not a game will go over or under a specific number of points. Bets on the total typically have -110 odds.
How Are Parlays Calculated?
Calculate a Parlay by multiplying the decimal odds of each bet together. Decimal odds are rarely used at online sportsbooks in the US (they use American odds symbolized by the + and – signs). The sportsbooks automatically convert the odds that players are using into decimal odds and complete the calculation without players ever having to do the math themselves. But if you want to, use an online calculator to help.
What Happens If A Bet Pushes In A Parlay?
When a bet pushes in a parlay, sportsbooks effectively act as if the bet was never placed. It does not count as a win or loss, the parlay just has that specific leg removed. This does result in shortened odds, but the key point is that when a bet pushes it does not ruin any parlays.