Parlay

Parlay

A parlay, accumulator, combo bet, or multi is a single bet that links together two or more individual wagers, usually seen in sports betting. Winning the parlay is dependent on all of those wagers winning together. If any of these bets in the parlay lose, the entire parlay loses. If any of the plays in the parlay ties, or "pushes", the parlay reverts to a lower number of wagers with the payout odds reducing accordingly. Parlay bets are high-risk, high-reward; linking the possibilities drastically reduces the chance of the bet paying off overall. The benefit of the parlay is that there are much higher pay-offs, although as usual, casinos and bookkeepers offering parlays often exploit the poor calculation of gamblers by not increasing the pay-out as much as the odds truly demand, with the effect of the house edge increasing in parlays. Although a variety of bets can be used to build a parlay bet, correlated parlays are usually not allowed by traditional bookmakers.

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• Related Topics:  Full Cover Bet - A Full Cover Bet Is Any Bet Which Consists Of All Available Multiple Bets Over A Given Number Of Selections., Each-Way (Bet) - An Each-Way Bet Is A Wager Offered By Bookmakers Consisting Of Two Separate Bets: A Win Bet And A Place Bet. For The Win Part Of The Bet To Give A Return, The Selection Must Win, Or Finish First, In The Event., Progressive Parlay - A Progressive Parlay Is A Joint Wager On Multiple Events, For Example Team Sports Or Horse Races. Generally A Progressive Parlay Involves A Joint Wager On Four To Twelve Separate Events., Wagering, Sports Betting