Parlay challenges give players a chance to earn up to 20% more than they normally would on regular parlay bets. We build your parlay card for you to save you time and get you betting faster. Weekly football parlay challenges will be posted every Tuesday. To bet, simply pick a challenge from below, choose your teams and hit enter. Each challenge has a set stake. SCORING NOTE: For all Parlay Challenges, a selection that is a tie is counted as a loss. Building a parlay is exceptionally easy, particularly on an online sportsbook. For mobile app or laptop users, they will usually need only to select the bets they want in their parlay and click a button on their bet slip to set things up. In the following examples, the wagers we’re using are actual bets offered on DraftKings Sportsbook. Parlay Betting Online Parlays involve wagering on multiple events that are all dependent on each other for the wager to be successful. For example, a parlay might be placed on games that require teams a, b and c each win their games. If just one of those teams loses their game, the entire parlay bet loses. If you want to place a parlay online via mobile or computer then it’s very simple. All you need to do is select the teams and/or totals and there will be a parlay option in your bet slip.
Parlays are the Frankenstein’s monster of sports betting. They are wagers that consist of other bets glued together with one another.
They are also a high-risk, high-reward opportunity for the daredevil sports bettor. If you are a Colorado resident who feels like kicking things up a notch, make sure you read this guide to parlay betting first.
How parlay betting works
The first thing to understand about parlays is that they consist of multiple choices. Where other types of sports bets involve your choice of a single variable, parlays require players to predict outcomes on several different bets.
Each selection in a parlay is known as a leg. These bets can all be the same type of wager, or they can be varied. The exact composition of each parlay is entirely up to the bettor.
Why parlays are so risky (and well-paid)
The escalated source of risk in parlay betting is the fact that a bettor must be completely correct in his or her selections to get paid. Even one mistake causes the entire wager to be lost.
Naturally, as you increase the number of legs involved in a parlay, the chance of an incorrect prediction goes up. So, sportsbooks offer increasing payouts to compensate for the risk.
In fact, parlays with many legs are capable of producing some incredible wins for you. For instance, a successful 20-leg parlay in 2019 allowed a Mississippi bettor to turn a $25 wager into more than $104,000.
Of course, these stories drive more people to give parlay betting a try. However, it’s important to realize that successful parlays make the news because they are so unusual.
In a sense, these outsized payouts are not unlike lottery winnings. A bettor who successfully predicts a string of unlikely events has beaten very long odds, indeed.
Sportsbooks are, of course, more than happy to allow you to take such a risk. Truthfully, if the money you bet on parlays does not affect your lifestyle or living conditions, then they can be a fun diversion for a sports bettor seeking to get the blood pumping.
Parlay betting examples
Building a parlay is exceptionally easy, particularly on an online sportsbook. For mobile app or laptop users, they will usually need only to select the bets they want in their parlay and click a button on their bet slip to set things up.
What Is A Parlay Bet
In the following examples, the wagers we’re using are actual bets offered on DraftKings Sportsbook.
2-Leg Parlay
Parlay Bets Odds
Bet #1: Moneyline @ +160
Bet #2: Over 230.5 points @ -113
Overall odds: +321
Comment
The first thing to notice is that neither of these choices have particularly long odds. The moneyline is only an 8/5 underdog, and the chosen over was the favorite.
Still, their combined chances of happening are more than 3 to 1. So, even if things are looking good individually, the odds of both events occurring are much less likely, and you will get paid far less often than if you bet each element individually.
3-Leg Parlay
Bet #1: Moneyline @ -195
Bet #2: Moneyline @ -455
Bet #3: Moneyline @ -165
Overall odds: +199
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Just to ram home the point about the odds involved, we chose three moneyline favorites to populate our parlay here. To reiterate, each of these choices is expected to win their game.
However, the combined chance that all three bets will win is still almost 2 to 1 against. So, bear in mind that in parlays, there’s no such thing as a safe option.
10-Leg Parlay
Bet #1: Moneyline @ +145
Bet #2: Moneyline @ +145
Bet #3: Puck Line @ +118
Bet #4: Over 5.5 Goals @ +105
Bet #5: Moneyline @ +180
Bet #6: Moneyline @ -195
Bet #7: Moneyline @ -143
Bet #8: Moneyline @ -455
Bet #9: Over 231 points @ -112
Bet #10: Spread @ -112
Overall odds: +85379
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Here is an example of how outsized both the odds and payouts for a parlay can get. Here we have a collection of 10 wagers that are all going off at odds shorter than 2 to 1. Yet, the combined odds of all 10 events is a staggering 853.79 to 1!
One other thing to note is that, in order to construct this parlay, we had to choose from different games each time. In order for a parlay to be valid, there cannot be bets that are related to one another – for instance, you cannot bet both the moneyline and total for a single game.
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Parlay variants
Along with standard parlays, sportsbooks commonly offer one or more variants of the combination bets. These variants each have their own appeal, so judge for yourself if you want to try them out.
Teasers
One of the most common parlay variants is the teaser. The teaser is the sportsbook’s attempt to lessen some of the risk that comes with parlay betting.
Quite simply, a teaser allows the bettor to tease, or move, the odds of the bets in a parlay in his or her favor. Teasers are only permitted for point spreads and totals – it wouldn’t really make sense to try and apply a teaser to a moneyline.
You must adjust each leg of a teaser by the same number of points. So, if you move one of your selections by five points, all of your selections must move by five.
However, the movement will always be in your favor. So, a bet on a favorite might reduce the spread, but a bet on an underdog would increase it.
Of course, nothing is free in this world, and teasers come with a price. Specifically, a successful teaser will not pay out as much as a parlay with the same selections. The sportsbook charges a premium for the reduced risk.
Still, for a bettor who wants to try parlays but doesn’t like the risk profile, a teaser might be a way to slide into things. The odds will still be long, but maybe not as unacceptably so.
For more information about teasers, click here.
Pleasers
Please be aware that sportsbooks will sometimes offer a parlay variant called a pleaser. While they are less common, they are simply the mirror image of teasers.
So, the odds in a pleaser will actually be worse than a standard parlay. However, the associated payout will be higher to compensate for the increased risk.
If a parlay just isn’t risky enough for you, a pleaser might be exactly what you’re wanting. Keep an eye out for them.
Round Robins
Round robins are a fascinating variant of parlays because of their margin for error. Almost every parlay requires perfection to pay out, but round robins have no such requirement.
Round robins are bets that are combinations of parlays. If parlays were a mathematical concept, round robins would be the next power of exponent to them – the cube to parlays’ square, so to speak.
Since they are composed of multiple parlays, it is possible to win a portion of a round robin even if one (or more) of the parlays fails. The different permutations mean that parts of the round robin might not be affected by the doomed parlay.
If you’re confused, don’t worry.
Example
You have 5 bets (A, B, C, D, and E) you want to make. You could make a single 5-leg parlay that would look like this:
- ABCDE
Football Parlay Betting Online
-or-
You could make a round robin with 10 separate 2-team parlays in it. Here’s how it would look:
- AB
- AC
- AD
- AE
- BC
- BD
- BE
- CD
- CE
- DE
Parlay Betting Online
Now…let’s say that you lose bet B.
In the case of the parlay, the entire bet is lost. However, in the case of the round robin, six of the parlays are still alive and well:
- AC
- AD
- AE
- CD
- CE
- DE
So, even though the loss would’ve been disastrous for the straight parlay, it’s not the end of the world on a round robin. If you want to do some parlay betting but want to have some backup options, a round robin might be the way to go.
Are you looking for the best sites for betting on sports and horse racing? Well, stick around, because this is all about showing you the best online betting sites.
Here are the 3 Best Online Betting Sites / Sportsbooks
Bovada
Bovada has changed the face of Sports betting online. They have a great sportsbook, racebook and one of the largest online poker rooms for players in the US. Their racebook is only open to North American thoroughbred and harness races.
Bonuses
Bovada offers a 50% signup bonus up to $250 and a bitcoin sports bonus of 50% up to $500 with a promo code. There is also a 100% match bonus eligible up to $1,000 and a bitcoin casino signup bonus of 150% match up to $1,500, both of which are redeemable up to three times. You starting bonus requires you to bet 5 times the amount of your initial deposit and bonus.
Deposits and Payouts
They only offer two ways to make a deposit and that is with credit cards and bitcoin.
Their payout system has improved massively over the years. In the past, this was the main complaint about Bovada, but now that they fixed it by speeding up the process and being one of the first online sports betting sites to offer bitcoin withdrawals.
The minimum deposit amount is only $20.
Customer service
They offer 24/7 toll-free customer service via telephone. They can help you in English, Spanish or Portuguese, and they don’t offer live chat, the wait time is about 1 minute on phone calls and a few minutes for emails. Bovada covers all the major sports. They offering straight bets, teasers, if bets parlays, futures, and props on just about any sport. This makes Bovada one of the best Online sports betting sites.
BetOnline
BetOnline is great for sports gambling online in many ways, but especially with baseball. They constantly work to improve the online experience with their bonuses and other elements such as betting types.
Bonuses
BetOnline has a 50% signup bonus up to $1,000. There is also a 25% reload bonus eligible up to $1,000 and a $100 bonus for every friend who signs up and makes a deposit.BetOnline also has free play reload bonuses.
Deposit and Payment Options
You can make a deposit with Visa, Mastercard, Discover Card, Diners Club cards or American Express. They also accept Moneygram or Western Union transfers, bank wire transfers, Bitcoin and Etherum deposits, checks, or you can send money from your Skrill account. Offering so many options makes them one of the Best Sports betting sites.
The minimum deposit amount is only $10, which is the lowest you’ll find.
Customer Service
They have great, round the clock customer service. BetOnline has live chat, a toll-free phone number both can be reached 24/7 in English or Spanish.
Having separate email addresses for the casino, racebook and sportsbook is a huge plus in terms of getting results when you have a problem.
BetOnline is a great gambling site because they put lots of effort into their Racebook. They have a well-run blog that offers advice for gamblers of all skill levels and they really know how to keep novice bettors interested and coming back.
MyBookie
MyBookie is another place which offers Sports betting online. They are newer than the others but already have a great reputation online.
Bonuses
They 50% signup bonus up to $1,000, a 100% casino signup bonus up to $300. While the refer-a-friend bonus is only 10%, that can be offset if you refer high ticket customers to them. They also have a 3- tier loyalty program that offers free payouts, birthday gift cards, game seats, and more bonuses.
Deposit and Payment Options
They accept Visa, Mastercard, Bank Wire, Check, and Person-to-Person Transfer for deposits. The minimum deposit amount is $50. You are allowed one free payout, then you’ll be subjected to a fee for each withdrawal.
Payouts are completed within 48 hours. This makes them a top sites out there.
Customer Service
They offer a live chat customer service or you can call them 24/7, but they only support English. They are one of the newest betting websites, but they’re one of the top sites for Sports gambling.
These websites are Best Sports betting sites because they value their customers and constantly work to make improvements.