Sports Betting Guide - Parlay Bet Explained

What is a Parlay Bet in Sports Betting?

A Parlay bet combines two or more individual bets, known as legs, into a single wager. All legs must win for the Parlay to pay out, but successful Parlays offer higher payouts than placing each bet separately.

How Does a Parlay Work?

Let’s say there are three NFL games you’re confident you know the outcomes of. Rather than just betting on them all individually, you can combine them all into one Parlay. The odds of each bet are all multiplied together, which means that if you do win, the payout will be higher.

What is a 3-Leg Parlay Betting Example?

Imagine that the three games you’re confident about are the Cowboys vs Commanders, Lions vs Broncos, and NY Giants vs Chargers. Combine all three bets into a Parlay.

The payout can be significantly high if all three legs of the Parlay win, more so than if you had bet on each game separately, but they have to all win. If any of those legs loses, the whole Parlay is graded as a loss

What Is a Same Game Parlay?

As the name implies, a Same Game Parlay is built using multiple bets from the same game. You can take Spreads, Totals, player props, and more, and roll them all into one wager.

What is a Same Game Parlay Betting Example?

For example, for a single NFL game, you could create a Parlay like:

Cowboys -4
Over 48 Total Points

This Parlay combines a Spread bet and an Under Total. Bet on the Cowboys to win by more than 4 points and the total to go under 48, all in one Parlay. If both legs hit, you’ll win more than if you placed each bet separately. If either leg misses, the Parlay loses.

What Is Same Game Parlay+?

Much like the typical Same Game Parlay, SGP+ lets you combine multiple Same Game Parlays across different games into one Parlay. Think of it as a pyramid of Parlays.

SGP+ gives you a way to mix and match across the day’s slate. But remember: if a single leg in your bet misses, your whole Parlay is a loss.

Pro Tip: You can build SGP+ bets live during NFL games, giving you real-time flexibility.

What is a Same Game Parlay+ Betting Example?

For example, you might have your eyes on two NFL matchups: Raiders vs. Cowboys and Bears vs. Lions. Your SGP+ bet could look like:

Raiders +7.5
Over 50.5 Total Points

Combined with:

Lions +3.5
Over 42 Total Points

This is a 4-leg Parlay made up of two Same Game Parlays.

Same Game Parlay 1 (Raiders vs. Cowboys):

Las Vegas Raiders +7.5 (Spread)
Over 50.5 total points

Same Game Parlay 2 (Bears vs. Lions):

Detroit Lions +3.5 (Spread)
Over 42.0 total points

All four legs must win for the Parlay to cash. If every selection hits, a $10 bet pays $133.20. If any one leg loses, the entire Parlay loses.

How to Place a Parlay Bet on FanDuel

Placing a Parlay is quick and easy:

Log in to your FanDuel account (or create one).
Add multiple selections from different games (or same game) to your bet slip.
FanDuel will automatically offer the Parlay option if your picks are eligible.
Enter your wager amount and hit Place Bet.

Parlays can be tracked and cashed out (when eligible) in the “My Bets” section of the app.

FREQUENTLY ASKED QUESTIONS

What is a Parlay bet?

A Parlay is a wager that combines multiple picks (called legs) into one bet. All legs must win for the bet to cash out.

How does a Parlay payout work?

Parlay payouts are calculated by multiplying the odds of each leg together, which increases the potential payout compared to betting each pick separately.

What happens if one leg loses?

All legs must hit, so if even one leg loses, the entire Parlay is a loss.

Can I cash out a Parlay early?

Most of the time, yes. FanDuel will often offer a cash-out option, so you can secure a partial payout before all legs finish.

What is a Same Game Parlay?

A Same Game Parlay (SGP) lets you combine multiple bets from one game, like Spread, Total, and player props, into a single Parlay.

What is Same Game Parlay Plus?

Same Game Parlay Plus (SGP+) allows you to combine multiple Same Game Parlays across different games into one mega-Parlay for an even larger payout.

What if one leg is voided or canceled?

If a leg is voided, it is removed from the Parlay, and the remaining legs are recalculated. If all legs are voided, your stake is refunded.

What is a 15-leg Parlay?

A 15-leg Parlay combines 15 individual bets into one wager. All 15 bets must win for the Parlay to pay out.

What are progressive Parlays?

Progressive Parlays automatically roll winnings from one winning leg into the next, increasing potential payouts as each leg hits.

What can’t you Parlay?

You generally can’t Parlay bets that depend on the same outcome, duplicate markets, or restricted combinations set by the Sportsbook.

What are teasers in betting?

A teaser is a type of Parlay that lets you adjust point Spreads or Totals in your favor, usually in exchange for lower payouts.

What does a $100 four-team Parlay pay?

The payout depends on the odds of each leg. With standard odds, a $100 four-team Parlay typically pays several hundred dollars if all legs win.

What is the best Parlay bet?

There’s no single “best” Parlay. The best Parlay balances reasonable odds with outcomes you feel confident will win.

How risky are Parlay bets?

Parlays are high-risk because multiple outcomes must all occur. Adding more legs increases potential payouts but also increases the chance of losing.

What is a Round Robin Parlay?

A round robin is a group of smaller parlays created from the same selections, allowing you to win even if not every pick is correct.

What is the difference between a Parlay and a Round Robin?

A Parlay requires all picks to win, while a Round Robin split picks into multiple Parlays, reducing risk.

What is the minimum number of legs for a Parlay?

A Parlay must have at least two legs to be considered a Parlay.

What is the difference between a Parlay and a Same Game Parlay (SGP)?

A Parlay combines bets across multiple games, while a Same Game Parlay combines multiple bets from a single game.

In what states can you place Parlay bets?

Parlay betting is available in states where sports betting is legal. Availability varies by state and Sportsbook.