A parlay is a single wager that combines multiple individual bets into one bet slip. Every selection within the parlay must win for the entire bet to pay out. While parlays offer higher potential rewards due to their multiplied odds, they come with increased risk since one wrong pick voids the entire wager.

Types of Parlays:

• Round Robin: Allows bettors to select 3-8 teams/totals and split them into multiple three-team combination bets
• Teasers: Similar to round robins but only for point spreads and totals, allowing bettors to adjust the lines by a fixed number of points

How Parlays Work:

• All selected bets must win for the parlay to pay out
• If any selection loses, the entire parlay loses
• Ties/pushes typically reduce the parlay to the remaining winning selections
• Odds and payouts are fixed once the bet is placed
• Different sportsbooks may offer varying odds for the same parlay

When to Consider Parlays:

• When you have high confidence in multiple selections
• If you enjoy higher-risk, higher-reward betting
• As part of a broader betting strategy rather than primary approach
• When you've thoroughly researched all included matchups

Remember that while parlays offer exciting potential returns, they require all selections to win, making them inherently riskier than single bets. Compare odds across sportsbooks to find the best value before placing parlay wagers.

Always gamble responsibly and never bet more than you can afford to lose. Call 1-800-GAMBLER if you need support with problem gambling.

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