Parlay betting is a special type of online betting, in which you actually bet on multiple matches at once. 

Take a closer look at Parlay in betting, which will include what it is, how it works, what are the different types, how to do and what are the different types of Parlay bets.

What is Parlay Betting?

Parlay bet bundles multiple bets into one, increasing your profit in multifold. You can place two bets and combine them into one. If both of your predictions are correct, you get more profit. 

It is important to note that the profit amount will be higher than the amount you win through two individual bets. That’s the reason for the popularity of Parlay bets in the online betting community. 

How Does Parlay Bet Work?

Parlay betting helps you increase your payout. Go through a real-time example to understand it better. 

• You are in the midst of a crazy IPL season, and you are having a doubleheader.
• Instead of placing individual bets on two different games, you can place a single bet that would cover both of those matches. 
• In that situation, your bet amount will go up compared to an individual bet, and the return will certainly be higher. 

Each game that you bet on is called a Leg. So, in a two-leg Parlay, you will have to win both Legs. The more the legs, the better the payout. 

What are the Different Types of Online Parlay Bets?

Though there are various Parlay betting types, two of them are popular. Let’s explore those in detail. 

Round Robin:

Round Robin Parlay betting allows you to bet multiple wagers in combinations.

Let’s say you have 4 IPL matches happening in a weekend. You will pick one team from each of these games and place them. In total, you have 4 favourite teams. 

• Assume that those four teams are CSK, MI, KKR & GT. 
• Combination 1: You can place individual bets one each & make it a parlay. 
• Combination 2: Place bets on CSK & MI. 
• Combination 3: Place bets on CSK, MI & KKR. 
• Combination 4: Place bets on CSK, MI, KKR & GT. 
• Others: You can reverse the order and create other combinations. You can ignore one team to create a three-team combination. 

Pick teams based on research. Once you guess the winner correctly, this type of Parlay bet is the best choice. 

Teaser: 

In this type, a user can adjust the volume of the total spread. Since you can increase or decrease the sum, the Teaser bet type is easier to win.

Odds are indirectly proportional to the probability of an event to occur. Teasers have better chances of winning, yet the winning margin will be slightly on the lower side. Many people use this type of Parlay bet just to ensure winning in every bet. 

How To Do Parlay Betting? 

Interestingly, the technique for Parlay betting is very similar to normal betting.

• Instead of placing a bet on one particular match, you need to use the Parlay option and place your bet on the next match. 
• You don’t need to hold yourself back, as you can place a Parlay bet on any sport. 
• Also, if the match is a week in advance, you can add the match to your parlay betting.

What happens to Parlay Bets, if the game gets cancelled?

No worries! You won’t lose the bet.

In Parlay betting, you place bets on multiple matches, and the outcomes of both of these matches are taken into account. 

For example, you have placed a 3-game Parlay. Two of your favourite teams won. The third match got cancelled. The third leg will be removed from your bet,  and you will get the profit, as those two teams won. 

Even if the third game gets tied, it won’t be taken into account. 

Advantages of Parlay Betting

• Higher Payouts: 

The biggest advantage is that it combines multiple bets into one single bet slip. This is the reason you get higher payouts, which is always a favourable factor for everyone.

• Efficient: 

It saves time. You don’t have to waste your time looking for an individual match separately. You just place the bets at once and save a lot of time.

• Full of Excitement: 

When you place Parlay bets, you are placing bets on multiple matches where you need to win both bets, and not just one. This proposition makes the whole affair really interesting.

Final Thoughts

Parlay betting is an exciting betting technique that not only saves you time but also provides a higher payout.

In case you want to place a Parlay bet on IPL matches for the next one week, you can do so by picking your favourites using this same technique.

Explore today and join the lakhs of Parlay winners. 

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