What Does Parlay Mean in Betting?

The meaning of parlay has changed over the years but the concept remains the same – using multiple bets to maximize earnings. There are many terms for these types of wagers (or combinations of wagers) but the most popular are “parlay”, “multiple bet”, “combination bet”, and “mixed bet”.

What Is It?

A parlay is a type of wager where you stake a single amount of money and earn credits for each of the sports teams you choose in the right combination. For example, if you stake $10 and choose the Green Bay Packers, San Francisco 49ers, and Kansas City Chiefs, you will earn $10 for each of their games this week. The same concept applies when you get 3 or more sports teams right on your parlay.

How Does It Work?

In the example above, you chose the Green Bay Packers, San Francisco 49ers, and Kansas City Chiefs. This means you will earn $10 for every game they play this week. The amount you bet determines the number of points you will earn. Typically, you will choose between 1 and 5 teams, with the majority of parlays being set up with 2-3 teams. More sports teams will result in more points and higher earnings. If all of your teams win, you will win the entirety of the bet. If you chose the Philadelphia Eagles and Detroit Lions, you would have an 80% chance of winning because they both have a losing record as of December 7th, 2016.

The payout for a parlay is usually determined by an odds formula and varies by sports book or gaming venue. For example, you might win $100 on a $10 bet on the Green Bay Packers, San Francisco 49ers, and Kansas City Chiefs, but you would only receive $30 because the payout for those teams is 10 to 1. You can find the payout for other parlay combinations at the sports books online or via phone.

Why Are They Popular?

Parlays are one of the more popular types of wagers because they give the average bettor the ability to win big. While it is possible to win big on single bets, it takes a lot of luck. The average person is better suited for parlays because they give them a better chance at winning based on skill rather than pure luck. This is why you see so many people placing parlays online – it’s easy enough to do and the payout is usually excellent.

The downside to parlays is that it takes a lot of luck for them to win. If you are looking for an easy way to make money, you can find plenty of opportunities in single bets. However, if you want to maximize your chances at winning, you should look into placing a parlay bet.

Where Do I Find Them?

You will find plenty of opportunities to place a parlay bet online. Most sports books will have dedicated sections for them and you will often find guides on how to place them correctly. You can also check out our guide on how to enter a sports book and learn how to make the most of your opportunities.

If you are looking for a way to place a parlay bet near you, you can find many casinos that offer them. Some of the biggest and best known sports book operators like Bovada, DraftKings, and many more have online portals where you can place bets easily from wherever you are. If you have a smartphone, you can use the apps to place bets from the convenience of your device.

Do They Have Something to Do With Politics?

Parlays have become somewhat politically charged in recent years. Many people choose to bet on Donald Trump’s election results because they think it’s impossible to predict the winner of an election that’s been so bitterly contested. While there’s no denying that Trump’s victory was a surprise, his path to the White House was anything but. Despite the odds, he managed to pull off an upset victory and since then, he’s remained a popular choice for voters who want to bet on the future.

Betting on politics is usually a risky proposition but it’s something that still pays off for many people. When you place a political bet, you are essentially choosing a side in the contentious political arena and hoping that your team will win. Should Hillary Clinton have won the 2016 election, there would have been no shortage of people who would have been happy to place a bet on her behalf. There are even some sports books that will let you place bets on world events like elections and natural disasters – like the volcanic eruption in Indonesia that led to the 2016 earthquake and tsunami that devastated several islands. If you are interested in placing a bet on something political, you should look into doing so at a responsible gambling site that offers these types of wagers.

What Is The Differentiating Factor?

Apart from the fact that a parlay involves multiple bets on sporting events, there is another distinguishing factor between them and other wagers. When you place a bet on a sports team, you are usually making a wager on that specific game. However, when you place a parlay bet, you are making a wager on a series of games. For example, if you chose the Green Bay Packers, San Francisco 49ers, and Kansas City Chiefs in the previous example, you are making a series of wagers. You are actually placing a bet on these teams to win their next game. This means that even though you chose three separate teams, you are in fact staking on one combined event. This is why parlays are also sometimes called “combination bets” or “multi-game” bets.

The advantage of this is that you can easily change your mind about which games to include in the parlay. For instance, if the Green Bay Packers win their game this week but the Kansas City Chiefs lose their game, you would still have a winning parlay. It’s important to note that the opposite is also true – if the Kansas City Chiefs win their game this week but the Green Bay Packers lose theirs, you would also have a winning combination.

More Than Meets The Eye

When you place a parlay bet, you are really staking on a combination of games. While this might seem like a simple enough concept, it’s one that can be tricky to put into practice. The truth is there is a lot more strategy involved than meets the eye. For instance, you have to consider how each game relates to the others. If you’re searching for a guide that can help you win on parlays, you can find plenty of information online. Some of the biggest and best known sports books like DraftKings, Mybookie, and more have specific sections dedicated entirely to helping newbies place successful bets on parlays. There’s also a lot of online communication that happens between bettor and bookmaker, resulting in a better understanding of what is actually going on.