What is a parlay bet and how does it work?

The rise of US sports betting terminology in recent years means here in the UK and Ireland we’re starting to hear more jargon from across the pond.

Words like props and moneyline have started to pop up more and more, even though UK and Irish bookmakers tend to stick to the more traditional language around bets.

Well, one of the big phrases to have crossed the Atlantic – and which causes a little confusion with punters here – is the ‘parlay bet’.

Thankfully Paddy Power is here to explain the concept to you, so you don’t get caught out next time you’re speaking to a US bettor about their “wagers”. Below is literally everything you’d ever need to know about parlay betting.

What is a betting parlay?

A betting parlay is effectively an accumulator or multiple bet. You select two or more bets and add them together into one big bet. Your potential profit is calculated by multiplying all the odds together.

How parlay betting works

A parlay bet works exactly the same as an accumulator or multiple bet. To create a parlay, all you have to do is head to the Paddy Power website (or download the app!) and click on the bets you want to back.

Each time you click on odds, the selection is added to your bet slip. Once you’ve made your selections, read through the bet slip and check the parlay (acca / multiple) is doable, and that there are no clashes. For example, you can’t bet on England to win and to lose in a match against Germany.

Your total odds will be displayed at the bottom of the bet slip, along with your potential profit. Click Place Bet to complete the process.

Parlay Bet Example

Here’s an example of a parlay bet. You choose to back three teams in an upcoming round of the Nations League:

• Austria to beat Kazakhstan at 2/11
• Italy to beat Belgium at 9/5
• Greece to beat England at 3/1

You’ll notice the bet slip shows this as a ‘treble’, which is another term for a three-pick accumulator/parlay/multiple. Place your bet and, if all three selections win, then you win!

Best sports for a parlay bet

Here are the top sports to bet on when considering a parlay for the first time:

• Football – The ideal parlay sport. Most punters have a strong foundation knowledge of football and can pick a few results to add to a parlay. If you’re starting out, stick with home favourites in your first few accas.
• NFL – A common place for parlay bets when punters seek to place a multiple on the same game. For example, you might bet on the 49ers to beat the Jets with a -10.5 points handicap, their wide receiver to score two touchdowns, and the Jets QB to be sacked three times. 
• Basketball – Another great sport for parlays, basketball betting often centres around points totals. For example, you place a three-pick parlay where you back the Lakers, Celtics and Cavaliers to win their respective games against the Clippers, Nets and Bulls – all with a +15.5 points advantage.
• Tennis – Parlay tennis betting is great in the early rounds of big tournaments like Wimbledon and the US Open when the top seeds are almost guaranteed to get thorough. Your parlay combines all the top seeds into one mega bet.
• Horse Racing – The home of the original parlay, betting on horse racing multiples is still hugely popular today. The parlay allows you to back horses to finish and place across various races, meaning you can one overarching bet on raceday.

Read more betting tips with Paddy here!

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