Parlay wagers consist of several bets combined in one to generate a much larger payout. While the risk in parlay wagers is much greater, they are a brilliant way of earning much more money on bets that you are confident of winning.
In parlay wagers, you combine several bets into one. Therefore, you need every single one of the individual wagers to win for you to win the parlay wager. While you certainly earn a payout that is significantly larger than you would win by all of the individual bets themselves, there is a certain added risk of winning nothing at all
Parlay Bonus
A parlay Bonus or Parlay Insurance is a type of bonus that sportsbooks offer to customers that help bettors earn more than they would by winning the parlay itself. These benefits are often only accessible to new customers for a limited amount of time after they sign up.
While some bonuses are simple to understand and utilize, parlay bonuses can be slightly more complicated. The way it works is as follows:
If you meet the requirements for the bonus, your sportsbook will reward you with an additional bonus if you win your parlay, provided that you put bets that meet the requirements. These incentives generally include the following requirements:
- Place bets online on sports that are popular among U.S. audiences as specified by the sportsbooks, such as the NFL, NBA, NHL, or MLS, to name a few.
- Often, you are specified to place your wagers on specific two-way markets, including on-point spreads, money lines, and similar.
If you meet the requirements for the offer, your sportsbook may provide you with a bonus if you win your parlay wager. This is a big incentive for users to wager parlay bets because the payout gets even better.
Best Parlay Promos by U.S. Sportsbooks
Parlay bonuses are relatively popular in the USA sports betting industry, although maybe not as much as they are in Europe. Here are some of the best parlay bonuses offered by major U.S. sportsbooks:
Caesars Sportsbook
Caesars has a plethora of parlay choices, much like its rivals. Same Game Parlays are available, along with the option to build your own to totally personalize your wager. During the football season, there are the same game and normal parlay boosters available, as well as college football parlay boosts. To get the most value out of your wagers, keep an eye out for frequent parlay promotions.
On the major athletic events, Caesars usually runs same-game parlay insurance deals. Place a four-leg or more same-game parlay, and if one leg loses, you’ll get your investment refunded as a free bet up to $50.
BetMGM
BetMGM Sportsbook offers a Multi-Sport Parlay Bonus that rewards bettors with attractive bonus payouts. They can receive as much as a 40% bonus, depending on the number of legs they choose to parlay. This offer can be accessed once per day at BetMGM Sportsbook.
A 4-leg parlay win gives a 15% boost, with each additional leg adding 5%. In order to take advantage of the bonus, users have to select the Multi-Sport Boost Promotion only once. It will then be available automatically on each parlay of at least four legs.
FanDuel Sportsbook
FanDuel is one of the most well-known sports betting companies in the business, and it was the first to provide same-game parlays to the U.S. market. Same-game parlay wagers were unavailable on any other site until FanDuel introduced it, and the new bet type quickly became popular. It grew to the point that other major bookmakers were forced to emulate their strategy.
You can use the Same Game Parlay to aggregate numerous bets from the same game into a single parlay. It isn’t always accessible in every game, but it will almost always be present at significant events and matches.
FanDuel also offers risk-free parlays. Across a multitude of sports, FanDuel often promotes its risk-free same-game parlays service. Place a 3-leg same-game parlay on any game taking place within the applicable periods, and if your bet loses, you’ll earn a refund in free bets.
Best Sports to Use Parlay Bonuses On
The best thing about parlay bonuses is that they can be used in any sport. Here are some popular examples:
- Football
- Basketball
- Hockey
- Soccer
- Golf
- Baseball
10 Major U.S. Events to Use Parlay Bonuses On
Many bettors want to earn big when major sporting events such as the Super Bowl and March Madness come around. Indeed, you can expect the top online sportsbooks such as BetMGM to offer better odds on lines around these times, and you can use parlay bonuses to earn even more.
- Super Bowl
- Daytona 500
- The Masters
- Kentucky Derby
- Indianapolis 500
- U.S. Open Tennis
- U.S. Grand Prix
- MLB All-Star Game
- PGA Championship
- U.S. Open Golf
Same-Game Parlay Bonus Guide
Many online sportsbooks offer same-game parlays as a betting option. A same-game parlay is a single wager with multiple bets from the same event. The player must win all legs of the parlay for the bet to cash. Many online sportsbooks have the feature available within their wagering options and have made specific rules pertaining to them.
Bettors use these same game parlays to put multiple markets and props from the same event to take advantage of a large payout. The bet can be as few as two legs all the way up to 15 legs. Of course, more legs mean higher odds and fewer chances of winning the bet, but significant amounts have been won in the past with these types of wagers.
Here’s what some of the top online sportsbooks are offering as same-game parlays for their players:
PointsBet
Same-game parlays: PointsBet is the latest U.S. online sportsbook to offer same-game parlays. It’s referred to on the PointsBet site as a “single-game parlay.”
- Players can parlay items from a single game using the spread, over/under, moneyline, and game props into one wager.
- Sports available: NFL, NBA, MLB, and other major sports
- How to place the wager: Find the Single Game Parlay option at the top of the events page between Fixed odds and Pointsbetting, making sure you have the latest version of the app. All of the available betting options are shown for the game chosen.
- Click on the options you’d like to select and submit the wager.
- Review the betting slip to ensure all selections are correct and choose ‘place bet’ to place the wager.
FanDuel
Same game parlays: FanDuel has added a twist to its single-game parlay and now offers “Same Game Parlay Plus” in addition to its single-game parlay offering to online players.
- Bettors can combine single-game parlays with bets from another game. The previous same-game parlay offer did not permit a parlay to be combined with events from another matchup. The wager’s outcome can be tracked through the “Live Bets” tab.
- Sports available: NFL, NBA, MLB, and other major sports leagues.
- After selecting the choices for a single-game parlay, bettors can search for games labeled as “SGP” and can add bets from these games to their single-game parlay.
WynnBet
Same game parlays: The same game parlay feature at WynnBet is called “Build Your Own Bet.” Not all prop bets are available to be included in the parlay.
- Bettors can build same-game parlays for most major sports by choosing two or more available options to be included in the wager.
- Sports available: NFL, NBA, MLB
- How to place the wager: Players need to choose the “Build Your Own Bet” option at the main menu
- Choose the event to bet on and make at least two choices from the available betting options to complete the parlay. Choices include spread, moneyline, totals, and several in-game props that can be combined.
Unibet
Same game parlays: The parlay market allows players to add spreads, moneylines, and totals to a parlay which includes game prop picks.
- Bettors can build same-game parlays for most major sports by choosing two or more available options to be included in the wager.
- Sports available: MLB, NBA, NFL, NBA, and other sports
- Log into the Unibet app and select the sport.
- Select the tab called “single-game parlay,” and you’ll be able to create parlays using the betting options for that single game.
- Same-game parlays at Unibet can contain a maximum of ten legs.
DraftKings
Same game parlays: DraftKings’ Same Game Parlay rules make it easy to decide which sport you’re more interested in wagering on. DraftKings lists the same game parlay over/under total options in increments of 10, and they are not individually priced.
- Sports available: The same game parlays include the NFL, NBA, and Soccer.
- Turn on “Same Game Parlay.” All available bets will show up once it’s turned on.
- Look for a game with a +SGP icon at the top-left corner.
- Your Same Game Parlay. You can combine multiple bets from the same game. You can win more if you combine more than one bet.
- Place your bet
BetMGM
BetMGM’s Same Game Parlay operates the same as virtually all others, but it refers to its option as the BetMGM one game parlay. The sportsbook offers the biggest range of sports among all the major operators, although the option isn’t available for all contests.
- Sports available: The same game parlays include the NFL, NBA, and Soccer.
- Navigate to the sport, league, or event page and select the desired game
- One Game Parlay will be visible for all eligible contests
- Select the options desired
- Place your bet
The Benefits of Same Game Parlays
A same-game parlay is a great way to combine multiple wagers and win big with a small investment. To entice those who want to make a lot of money, sportsbooks will often offer parlay of the day. Prop parlays are extremely profitable for anyone who has ever placed one.
Larger parlays have odds of winning at 50-1 to 250-1. As you add more legs and parlays, you can see the potential winnings on your bet slip.