What Is Parelay Betting Football?

Parelay betting is all the rage in the sports world right now. The unusual betting format allows users to make larger wagers than is possible with traditional options – such as odds or over/under bets – while also letting them place multiple bets on the same game. If you’re interested in exploring this unique betting option or want to know more about the term, here’s what you need to know.

What Is Parelay?

The name ‘Parelay’ comes from the combination of two words: ‘par’ (meaning ‘equal’ in Latin) and ‘lay’ (meaning ‘a side,’ ‘portion,’ or ‘slice’ in British English). In other words, parelay is ‘equally divided side’ or ‘portion.’ A parelay bettor is someone who makes equal bets on two or more outcomes, each of which is associated with a different team. For example, a sportsbook might offer odds on whether the Chicago Bears will win against the Houston Texans this upcoming Sunday. A parelay bettor could choose to bet on both the Bears’ win and the Texans’ win, or they could put down a bet on just one of those outcomes. In all cases, the person taking the bet wins when both of their teams win; otherwise, the house takes the payout.

When Did Parelay Betting Start?

The relatively newfangled practice of parelay betting has only recently caught on in mainstream sports. In the past, gamblers would frequently have to settle for making small bets on individual outcomes, which in most cases would not produce enough profit to make a full-fledged financial investment. The advent of online betting has certainly helped to fuel the current sports betting craze. Nowadays, it’s possible to place large bets on the outcome of multiple games without needing to worry about the money running out due to the inflow of online wagers. This newfound convenience has undoubtedly contributed to the explosion in popularity of parelay betting across the globe – and we have the world’s biggest sportsbooks to thank for it!

Why Should You Try Parelay Betting?

If you’ve ever tried making a bet on a sporting event and found the betting options to be severely limited, you’ll undoubtedly appreciate the versatility of parelay betting. You might not like the odds for your favorite team or player so much, but you’ll definitely appreciate the ability to bet on other possibilities and give the game some real world significance. The fact that you can make a wager on multiple outcomes at once also gives you more flexibility regarding when and where you want to place your bets. If you have an iPad, you can even use a tool like SunLight App to create your own book of parelay bets, keeping all the information all in one place.

We can get all sorts of creative with our sports wagers now that the world is on the road to esports competition and competitive gaming. Having options like parelay betting gives gamers the opportunity to place bets on the outcome of tournaments involving their favorite teams and players. The ability to customize each individual bet gives them the chance to fine-tune their wagering strategy for maximum profit – competitive fervor makes for very exciting sports betting!

Where Do You Place Your Parelay Bets?

The most popular online sportsbooks with parelay betting options include the following: