A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games.

We are regulated by the New Jersey Division of Gaming Enforcement as an Internet gaming operator in accordance with the Casino Control Act N.J.S.A. 5:12-1 and its implementing regulations. A parlay is a single bet that links together two or more individual wagers for a high payout. A 2 team parlay might pay 13/5, a three team parlay might pay 6/1, a four team parlay might pay 10/1, and so forth with the payouts getting higher with more teams or totals selected.

The allure of these bets has always been a larger payout than choosing a single team to win. But there’s more gamble to these types of wagers because every “leg” of the parlay needs to not lose in order to win. If one leg loses, the whole parlay loses.

The flexibility of a parlay bet also makes it attractive to gamblers. You can combine multiple sports into your parlay bet; for example, you can include the Cowboys from the NFL, the Celtics from the NBA and the Coyotes from the NHL into a single bet. If they all win, you win.

Test out the parlay calculator above and compare odds at different sportsbooks to see how it works!

Placing a parlay bet

There are two ways to place a parlay bet and both are quite simple. Bettors can either tell the ticket writer directly which teams and totals they’d like to bet on and how much they’d like to risk on the bet. Filling out a parlay card is the other option for placing this kind of bet. Once the card is filled in, the bettor simply needs to visit the sportsbook desk to place the bet.

Some mobile sports wagering apps offer both types of parlay bets.

Get the best parlay deal at online sportsbooks with Parlay Insurance here:

Winning a parlay

There are two instances when a parlay can be a winning bet. A parlay only wins if none of the sides, totals or moneylines selected is a loser. The parlay can still be a winner if a game is canceled or ends in a tie. The pay schedule will simply more down to the lesser payment. For example, the bettor will win if a baseball parlay for four teams has three winners and one game is canceled because of rain. The bet will only pay based on the schedule for three winners instead of four as originally planned. The bet is a loser if one pick for a parlay is wrong.

Parlay odds

Not all parlay payouts are the same. Sportsbooks may have different odds for the number of teams bet in a parlay. This can be very confusing when looking at online sports that have different odds and payouts for the same parlay. Further, these odds may change at any time so bettors should check with the ticket writer in sportsbook before placing a parlay.

Parlay payouts

Payouts for a parlay are fixed by the time the bet is placed. Even if the lines and odds for an individual game move, the parlay lines and odds won’t change from when the parlay bet was placed. The parlay bet won’t be changed whether the lines change for or against the bettor.

Draftkings Parlay Push

If the lines change for a game, or games, in the favor of the bettor another parlay may be bet with the new line. The original bet cannot be changed and the bet will stand. The good news is that the bettor has two live parlay bets.

Types of parlays

A parlay is a type of sports bet and there are different variations of this kind of wager. The most common types of parlays are Round Robin parlays and Teasers.

Round Robin

A Round Robin bet is placing multiple parlay wagers at once. It’s just that simple. Round Robin bets are just a way to simplify making multiple parlays. When a bettor “Round Robin’s” teams in sports betting it’s similar to a horse bettor “boxing” horses for an exacta or trifecta bet in a race.

The bettor will select anywhere from 3 to 8 teams or totals to be in the Round Robin. They will then choose how many teams or totals they’d like to tie together for the Round Robin. For example, a bettor may select eight teams and totals for a Round Robin and tie the parlays to as many three-team combinations as possible.

The combination of teams will dictate how many different parlays the bettor has. Continuing the example, if a bettor wants to Round Robin eight teams they will have 28 different parlays if they choose two teams. If the bettor chooses to make three-team parlays they will have 56 different parlay tickets.

The ticket will cost the amount chosen for each parlay. If the bettor only has $300 they might choose to Round Robin the teams by two, so they have 28 different parlays for $10 each. The payout for each winning parlay is the same as it would be if the parlay bets were each made individually.

Teaser

A teaser is similar to a traditional parlay where the bettor can select multiple teams or totals. However, there are no moneylines allowed with a teaser. Unlike a parlay, the bettor may move each point spread or total plus or minus a certain number of points. The additional points on the spread or total make these bets easier to win and thus they pay less than a traditional parlay.

Teaser bets can change the point spreads or totals anywhere from six to 10 points. However, each leg of the teaser must use the same number of points. Those legs of the teaser may go in different directions.

• For example, the New England Patriots -7 can be teased down six points to -1. Meanwhile, the Cleveland Browns can be teased up six points from +4 to +10 points.

Much like a traditional parlay, the more teams involved with a teaser the better the payoff. Again, different sportsbooks have different odds and rules so they might have different payouts and teaser options available to bet.

Parlay Cards

The more popular way to bet parlays in casinos today seems to be with a Parlay Card. These are the long narrow cards where bettors fill in the numbered circle of the side or point spread they want to include in their bet. Once the teams and totals are chosen the bettor simply presents the filled in portion on the card to the ticket writer in the sportsbook along with how much they’d like to wager.

Parlay Cards are especially popular during football season. There are many different types of Parlay Cards including a variety of teasers, ties win and reverse teaser cards known as pleasers. These are more popular every year so the mobile sports wagering apps have started to add Parlay Cards for mobile bettors.

Bettor used proxy to place wagers

A man in Florida who placed $3m parlays through messenger betting is contemplating legal action against DraftKings after the operator froze his New Jersey mobile sports betting account in late October.

A Sports Handle exclusive report details how the sportsbook operator froze the bettor’s account on October 23, just weeks after he had placed $3m worth of parlays. A proxy based in New Jersey had made two bets containing the same three selections on October 6 on behalf of the unnamed Florida man. DraftKings’ terms of use state that a customer cannot allow another person to use their account to place a bet.

terms of use state that a customer cannot allow another person to use their account to place a bet

Screenshots of a wager for $2.93m and another amounting to $72,490.57 appeared in the report. The parlays had a total potential profit of $5.6m.

The bettor said he felt “horribly wronged” by the sportsbook when it froze his account. The New Jersey Division of Gaming Enforcement (DGE) did not comment on the matter, but a DraftKings spokesperson on Wednesday told Sports Handle: “While this matter is under investigation by the appropriate regulatory authorities, DraftKings has no comment on that investigation.”

The three-team parlays

The three selections in the parlay bets were futures wagers on Georgia to capture the SEC East, Alabama to be victorious in the SEC West, and the Green Bay Packers to claim the NFC North. Details of the bets did the rounds on social media, being deemed the biggest parlay that DraftKings director of sportsbook operations Johnny Avello had taken during his 30-plus years in the business. rel=”nofollow noreferrer noopener”

Sports Handle also reports that, since the beginning of the current football season, the Florida bettor has made other notable wagers. They include a $2m money line parlay on two NFL teams that generated over $2.1m in profit, and a $1.48m money line bet on the New Orleans Saints with no opponent specified.

An interesting relationship

The man in question claims to have a relationship with Avello, dating back to when the latter was Wynn Las Vegas executive director of race and sports. He said that over the years, he lost more than $1m through the Wynn Las Vegas sportsbook in Nevada, a state which allows certain forms of messenger betting. He reportedly had written permission to place bets at this sportsbook through a proxy based in the region.

claims that Avello gave him verbal permission to place bets using a proxy at DraftKings

The Florida bettor moved over to DraftKings once Avello joined the operator in October 2018. He claims that Avello gave him verbal permission to place bets using a proxy at DraftKings like he did with the Wynn Las Vegas sportsbook, something which Avello denies.

The legalities of messenger betting

Casino industry consultant Andrew Klebanow says no sportsbook worker can give authorization for messenger betting that supersedes federal or state regulations. An attempt to do so could jeopardize the license of the sportsbook concerned.

Currently, regulations in Nevada allow bettors from out-of-state to use a proxy to place bets provided the proxy does not get financial compensation for doing so. However, messenger betting rules are stricter in New Jersey. Rule 13:69N-1.10 of the state DGE’s Permanent Sports Betting Rules indicates: “No licensee shall knowingly accept a wager from a person on behalf of any other person. No licensee shall knowingly allow a person to make a wager utilizing the account of another person.”

Draftkings Parlay Payout

Messenger betting also appears to violate the federal Wire Act, since the activity transmits betting information across state lines with the aim of placing a real money wager.