Explain It Like I'm in Fifth Grade
A parlay is like putting several puzzle pieces into one bet.
Each selection in a parlay is called a leg.
For the parlay to win, every leg usually has to win.
A three-leg parlay could include:
- Detroit to win
- The basketball game to go over 220 points
- A player to score at least 20 points
If all three win, the parlay wins.
If even one leg loses, the entire parlay usually loses.
Parlays can pay more than straight bets because they are harder to win.
Simple Example
You place a $10 three-leg parlay.
- Leg 1 wins
- Leg 2 wins
- Leg 3 loses
The entire parlay loses because one leg was incorrect.
If all three legs had won, the payout would have been larger than placing only one $10 straight bet.
Why It Matters
Parlays look exciting because a small wager can sometimes produce a large potential payout.
However, adding more legs lowers the chance that every selection will win.
Biggest Beginner Mistake
The biggest mistake is adding too many legs just because the potential payout looks large.
A 10-leg parlay may show a huge payout, but it is much harder to win than a two-leg parlay.
Playbook Tip
Ask yourself whether every leg truly belongs in the bet. Do not add a weak selection only to make the payout bigger.
Important Rules to Check
Check whether your sportsbook allows:
- Same-game parlays
- Correlated selections
- Voided legs
- Promotional boosts
- Player props when a player does not start
Quick Quiz
1. What is one selection in a parlay called?
2. What usually happens if one leg loses?
3. Why can parlays pay more?
Try it yourself
Put this lesson into practice with a free Parlay Assistant tool.