What Is a Parlay Bet?
Wilson Auma Content Writer

6 minutes to read

What Is a Parlay Bet?

The growth of online betting is significant, and now we can witness different unique betting concepts, including different markets, types of bets, and varying odds. Parlay bets are one of the most common types of bets for competent and risky players who are never afraid of unexpected events. It is also known as an accumulator. Let’s discover what parlays are by showing examples, explaining why parlay bets have different names, and providing guides on placing accumulator bets. 

Up to 1,250,000 UGX based on the initial deposit

Sign up and get it now

Get the bonus

Sports Betting Glossary 

Sports Betting Glossary BetPawa

Each player has two betting paths. The first is to place intuitive bets based on random approaches. The second way is to delve into the betting glossary, learn all the modern betting markets available, discover different types of bets, and analyze how each market correlates with the odds. Especially for the second type of player, we have prepared a large glossary where all sports betting terms are explained. Click on the link and read the comprehensive article. 

What Is a Parlay Bet? 

The term Parlya bet also refers to the term accumulator wager and express. They all have similar meanings of having multiple, at least two selections on your wager. Normally, with a single bet, you select only one event and the betting market for that event. However, here, you are no longer limited to the number of selections and betting markets. You can add as many legs as the bookmaker allows and create a chain of beds. Yes, the chain is solid, and it cannot be broken. And if one event in the chain loses, all the other selections lose as well. So, there is a risk involved. But this risk can be paid off; let’s find out how. 

  • Accumulator bets multiply your odds and payouts. 
  • Adding each new selection will decrease your probability of winning many times over. 
  • Adding multiple selections in one stake requires a lot of preparation, in-depth match analysis, and careful selection of the betting market. 
  • Accumulators usually come with special bonuses, such as an accumulator boost, which adds extra money to your winnings. The size of the bonus depends on the number of sections added. 

How to Place Parlay Bets 

How to Place Parlay Bets BetPawa

Now you know that a parlay is a bet that consists of at least two events. Any modern sportsbook that is considered contemporary and trendy offers you the opportunity to build parlay bets, creating a chain with increased odds. There is nothing complicated about making a parlay or accumulator wager. Just follow the steps below.

  • BetPawa How to Place Parlay Bets 
  • Step 1

    First, create your own account and get authorized on the betting platform. Ensure you have filled in all the required information and created your username and password.

  • Step 2

    The second step is to go to the sportsbook’s homepage, select the sport or tournament you want to stake on, and browse through the available live and upcoming matches.

  • Step 3

    The third step is to select the matches by clicking on the betting markets available for specific matches. Basically, you click on the betting market of the first event, the betting market of the second, and the third, and you add as many selections as you want.

  • Step 4

    Finally, you will see all the selections you have added on the betting slip on the right side. You can see the odds of the individual events and the total odds that have been created after all these selections have been added.

  • Step 5

    You can customize your parlay wager by adding new selections or removing old ones. Enter your stake and click on Place Bet.

Example of Parlay Bet 

Parlay, or as some call it, accumulator wager, can consist of hundreds or even thousands of different combinations of games. Basically, all your ideas and betting strategies can be implemented through this option. For example, you open the current football fixtures and see Lebanon and Jordan playing on Tuesday. On the same day, at the same time, famous Egyptian football clubs are playing, and the day after that, Tunisian clubs start their match. So, you just click on the preferred markets of these three matches and end up adding all these selections to your betting slip. 

Now, all three matches have become one big bet, and if one of them loses, unfortunately, all other matches will be canceled automatically. However, if three of them win, instead of getting regular payouts, you will get increased payouts and potential winnings, and you will also get a bonus on your three added games. 

Risks and Payouts 

Risks and Payouts BetPawa

Yes, parlay wagers involve more risk, but they are popular for the same reason. The idea of parlay bets is to take multiple selections and create a larger bet, making the odds higher. As the saying goes, high risk, high reward. That’s partly true, but you have to be careful when adding selections. 

For the first time, it is recommended to focus on single stakes. After you have mastered all the betting markets and types and understand how the odds work, you can try to add two selections to your betting slip. Once you know how accumulator betting works, you can add more. However, adding many selections is not recommended because each choice carries a higher risk, and the probability decreases significantly.

Rate

0 / 5. 0

F.A.Q.

  • Why Should Parlays Be Avoided?

    High-risk parlays may never provide real profits. Only use parlays when you're confident in your predictions.

  • What Happens to My Parlay Wager in a Canceled Game?

    Different bookmakers have different rules. But usually, 3-4 parlay bets become 2-3 with changed odds. Read the T&C of your bookmaker for more information.

  • Is a Parlay a good bet?

    Parlay is not good for beginners. Sometimes, winning parlays of 4-5 events is extremely complicated. In the beginning, add a maximum of two.

Successfully copied!