Everything About Parlay Betting Explained

Punters often make parlay bets to increase their winning chances at online sportsbooks. What is it? How can parlay bets help you benefit from wagering money on sports? Here you have everything about parlay betting explained.

Nowadays, online gambling sites in Spain including sportsbooks have plenty of additional features that make your gambling experience more interesting and profitable. If you want to multiply your winnings, parlay betting can help you with it. To learn more about this type of making bets read our ultimate guide.

What is a parlay bet?

In sports betting, a parlay is a popular type of bet. It is a combination of two or more bets on one ticket. Depending on the game, they may include point spreads, money lines, over/under, totals, futures. Each sportsbook has its own rules regarding placing multiple bets.

Pros and cons of parlay betting explained 

Placing parlay bets has a lot of advantages. First of all, it results in a larger payout than just choosing a team to win. Additionally, punters can combine various sports, competitions, and games on one ticket. For example, you can bet on the teams to win the first matchday of the 2020 UEFA Euro Group stage. If they all win, you win.

The main disadvantage of this type of wagering is that all legs have to win to bring you profit. If at least one prediction is incorrect, the whole bet loses. So, if you would like to risk it all, choose one of the best online sportsbooks in Spain and go for parlay bets!

Parlay odds and how to read them

Once you have everything about parlay betting explained, let’s take a look at the odds. Supposedly, you are going to bet on three separate football matches at the 2020 European Championship – Belgium v Russia, Spain v Sweden, and Hungary v Portugal – with the following odds:

Undoubtedly, the odds for the whole ticket would be the same as if punters were betting separately. In our example, the odds is +600 (each bet has a 50/50 winning chance, 3 bets x 2 = 6). In case of wagering 100 euro on the whole bet, you will win 700 euro, which is your original stake plus winnings. 

To calculate the odds individually, use betting calculators available at some sportsbooks and in Google.

How to make parlay bets at sportsbooks?

To place a parlay bet at an online sportsbook, you have to choose the best site first. We recommend using Betway Sportsbook as it is one of the most popular betting sites in Europe. As soon as you sign up for the site, follow the instructions.

There are two ways of making such a type of wager online. Firstly, punters can add multiple bets to one ticket manually. Secondly, they can look for special sportsbook parlay offers available in the same-name section. If you want to bet offline, you shall visit the sportsbook desk, fill the ticket, and give it back to register your bet.

You can discover more about Betway Sportsbook here.