Parlay bet - Explanation & Examples

A parlay bet, also known as multiples or accumulators, involves combining two or more bets into a single betslip. To win a parlay, all the bets in the parlay must be guessed correctly. If any one bet is lost, the entire betslip is forfeited. The risk is elevated for both the customer and the house when it comes to parlay bets. While customers have fewer chances of winning a parlay compared to a single bet, the house also faces potentially riskier payouts. Despite the apparent higher risk for the house, bookmakers favor parlay bets and may even promote winning parlays on their website to encourage more players to place such bets.

Placing a parlay bet

Placing a parlay bet is simple: you select your desired outcomes, and they should be added to your betslip. The total odds are calculated by multiplying the odds of each individual bet on the betslip. The potential winnings are determined by multiplying the total odds with the stake. If you are placing bets in American or fractional odds, we suggest using a calculator to convert them to decimal odds for easier calculation of the total price.

In case one match is canceled or the market you placed has a status “Void”, the whole betslip will stand, but the affected price will be taken out from the total odds.

Special rules

In the example above if the first match is canceled for some reason the Total odds will be divided with 1.55 and you will get a new total odds of 52.92 and therefore the potential winning will be 264.61€ instead of the earlier 410.12€.

Be aware that some bookies will let you even combine some outcomes inside the same match:

With the popular tool BetBuilder that many bookies use now, the number of possible combinations within the same game is expanding.

Should you place a parlay?

Parlay bets offer the opportunity to win more with less investment. However, don't be deceived; there's a reason why bookmakers promote parlay bets. They are considerably more challenging to win, and bookmakers often make the most profit from these types of bets. If you refer to our article Betting Encyclopedia: Bookmakers' Strategies," you'll discover that every price set by the bookmaker is intentionally undervalued. Therefore, if the bookmaker gains an advantage with each individual outcome, it works against you as a bettor, especially when this occurs multiple times in a combination ticket with four matches, like the example above.

All of this doesn't mean you cannot strategically place parlays and find success. While it's evident that adding more matches to the parlay decreases the chances of winning, selecting wisely and combining multiple value bets can be a sound strategy. This is particularly true if your bankroll isn't substantial enough to place numerous single bets.