A parlay is a type of sports bet that lets a bettor link two or more individual wagers on different games or sports teams and combines them to form one bet.
For bettors to win parlays, all the bets or legs involved in the parlay must win, and the winner receives a larger payout.
Parlays sound like a great way to increase winnings or receive a much larger potential payout; however, adding more individual bets to a parlay means the odds and the risk of losing are much higher for the person making the parlay bet.
What happens when the entire parlay bet is lost?
Compared to an individual wager, parlays are much harder to win. A parlay works by grouping sports bets together, meaning if a single bet on a parlay loses, the entire parlay loses.
These odds make fairness in parlay sports betting and choosing the right sportsbook extremely important because the odds of losing are much higher.
It's easy to spot if online casinos and sportsbooks are trustworthy parlay betting providers. A reliable website will have a secure domain, offer well-known payment options, and provide resources dedicated to responsible gambling.
Credible parlay websites will have clear terms and conditions and won't promise bonus offers that are too good to be true or unrealistic payouts.
When choosing between different sportsbooks, gamblers should always look for one of the top global gambling licenses in the industry. These licenses include licenses from Curacao, Kahnawake, Malta, the Isle of Man, and Costa Rica.