We’ve Created a Parlay Betting Guide for 2026: Master the Art of Parlay Bets with Expert Tips
Parlay bets are an exciting way to combine multiple wagers into a single sports bet. Offered by most sportsbooks, parlays work for most sports and events. But what is the meaning of a parlay bet exactly?
We’ll guide you through the different types of parlay bets you can make, as well as give you a real-world example, so you can see if these wagers are for you. We’ll also tell you how to find a great sports betting site where you can create your own parlays. Read on to find out more.
Pros and cons of parlay bets
Like any betting market, parlay bets come with both advantages and drawbacks. While they offer flexibility and big potential payouts, they also carry added risk, so it’s worth weighing both sides before placing a wager.
- Creative and flexible
- Can be applied to most sports
- Potential for substantial wins
- Can be highly risky
Your guide to parlay bets – what are they?
Parlays bets are pretty simple to understand, and remain a popular way to bet on sports due to the variation they offer. Effectively, the meaning of a parlay bet is when you combine individual wagers, called ‘legs’, into one big bet.
For example, you could look at the upcoming NFL matches this Sunday and predict two or more of the final scores of the matches to give yourself the ‘legs’ needed to create a parlay. You could bet that the Kansas City Chiefs, San Francisco 49ers, and the Dallas Cowboys will all win their matches, giving you a 3-leg parlay bet.
The great thing about parlays is that you have the freedom to create your own wagers, but remember that all legs must be successful for the bet to pay out.
Learning the different types of parlay bets
Just like prop bets, there are different types of parlays. A good one for beginners is the same-game parlay (SGP), which is where you bet on a variety of outcomes within the same match. For instance, the overall winner, final score, and the margin of victory.
Other popular parlay bets include straightforward moneyline bets and teasers – the former is when you bet on the winning team or athlete across multiple legs, and the latter is where you ‘buy’ points from the sportsbook, evening out the ‘spread’ and giving yourself a better chance of winning.
Finally, you have player prop parlays which involve betting on individual players rather than the outcome of a match. This could be a combo of anything that isn’t score-dependent, such as an all-time touchdown scorer, over/under number of passing yards or the amount of receptions.
Although there are different styles of parlay bets, they all use the same principle of combining multiple bets into one wager. This also has an effect on the odds and your potential winnings, as we’re about to see.
Parlay bet example for the real world
Now that you understand how parlay bets work, it’s time to look at an example. We’ll use American odds and basketball as our example sport.
Let’s say you want to place a 3-leg SGP parlay on Knicks vs Warriors in the NBA. All of the events you bet on will be during the same match, so you’ll know the outcome at the end of the game.
Here’s an example of how your parlay could look if you were to stake $20 with the following odds:
| Leg | Matchup | Bet Type | Selection | Odds |
|---|---|---|---|---|
| 1 | Knicks vs Warriors | Point Spread | Warriors -4.5 | -110 |
| 2 | Knicks vs Warriors | Over/Under | Over 228.5 total points | -110 |
| 3 | Knicks vs Warriors | Player Prop | Stephen Curry 4+ threes made | -120 |
For this bet to win, you need the Warriors to win by 5 or more, the total points scored need to be 229 or over, and you also need Stephen Curry to hit at least 4 three-pointers. If all of these come good, you would win $133.60, including your original $20 stake.
As you can see, parlay bets give you the chance to increase your winnings by pushing up the odds. However, always remember that parlays are instantly more risky than other types of bets because you need all legs to be successful for the bet to win.
Try out the parlay odds calculator
How to find a great sportsbook for parlay bets
Whether you’re looking to create parlays, moneylines, or prop bets, you need a great sportsbook to have the best experience. Most sports betting sites will offer competitive odds and a solid range of markets. You can also investigate betting exchanges where you wager against other players, if you’re interested in things like lay betting or simply an alternative way to wager on sports.
Although the choice ultimately comes down to personal preference, here are some things to look out for when selecting a new sportsbook for parlay bets:
Given that parlay bets suit most sports, you want a bookmaker that gives you an eclectic collection of domestic and international sports to wager on. Check what options are available, but don’t forget to investigate the markets as well. A great sportsbook will offer moneylines, spread betting, over/under, futures, and prop bets; all of which can be used to create parlays. Therefore, make sure the sportsbook you opt for gives you enough variety to keep things interesting.
At the end of the day, odds are what make winnings! You want a bookmaker that offers competitive odds across a wide range of markets, so it’s a good idea to shop around and see what’s out there. Keep in mind that the difference in odds is where bookies make their money, so expect a profit margin but try to find one that still gives you great odds to work with.
These days, most of us use our smartphones for everything. Therefore, it’s sound advice to look for a sportsbook that offers great mobile experience. Some will have an app for you to download, while others will offer a mobile-optimized version of their site. Either way, expect nothing less than a seamless experience on your phone or tablet, so that you can create parlay bets and keep an eye on their progress on the go.
The cornerstone of any great online sports betting site is their customer care. We recommend looking for well-revered sites that offer round-the-clock service, including multiple avenues with which to get in touch with a member of the team. There should be an email and/or contact form available, at the very least. But we would advise looking for a live chat feature that’s available 24/7 where you can speak to a real person. Avoid sites that use chatbots that are impossible to get past!
Parlay bets offer a fun and exciting way to combine your wagers
We hope we’ve given you all the tools you need today to start creating your own parlay bets at a great sports betting site. Remember, parlays are a fun way to bet on multiple outcomes and they have the potential to bring in high returns, however, they can be very risky because you need all legs to be successful for your bet to pay out. To find a great sportsbook near you, check the banners on this page.
Sports betting bonuses not to be missed in 2026
Parlay bets FAQs
❓ What are the best parlay bets to make?
There isn’t one type of parlay that’s better than another, and it’s the variety of this type of wager that makes it so popular. For beginners, we would recommend two or more legs of straight moneyline bets, while for seasoned bettors, feel free to explore player props, teasers, and futures to give yourself an eclectic range of legs.
🤔 Are parlay bets worth it?
Parlay bets are definitely worth your consideration for a number of reasons. You can make them as simple or as complex as you like, and they can offer very good odds and the potential for high returns. Just keep in mind that they can also be risky, as you need all legs to be successful for the parlay to win.
⚽ What’s the best sport for parlays?
Parlay bets are suitable for most sports, but they specifically suit sports with multiple teams and players. This range opens up more markets and lets you be creative with the parlays you make.
