What is a Parlay Bet?

One of the standard betting options offered by major sportsbooks catering to Canadian online bettors, parlays offer a way to increase your payout, but at a cost. A parlay is a selection of 2 to up-to 20 picks combined in a single bet. If all the picks are winners, you win a big payout. Unfortunately though, just one loss in your picks means the whole thing is for naught and the whole parlay is a loss. So, are you feeling lucky?

Where to make Parlay Bets

Making a parlay can be simple arithmetic, but figuring out the right sportsbook to place that bet can be rocket science. With tremendous odds, ease of use, a serious attention to customer service and a great variety of deposit and payout methods, the sportsbooks below are worth checking out before laying down on your next huge parlay.

Parlay Betting Odds and Payouts

Already licking your chops? Well remember that the betting odds on a parlay differ from book to book, but there is a generally accepted odds-line depending upon how many “teams/picks” are chosen. As you add more teams, however, you’re exponentially increasing your risk, so while you may have million dollar dreams, remember that old line that Vegas wasn’t built from House money.

The specific odds of a parlay will be the sum of the individual bets, multiplied by a parlay multiplier. The easiest and most basic parlay is a 2-team parlay, which features a general 13-to-5 odd. Upping that to a 3 team parlay increases the payout to 6-to-1 odds. 4 teams could net you 10-to-1 odds. It just gets better and better as you increase the number of teams picked; indeed some sportsbooks offer up to 20 picks with a monstrous 4000-to-1 payout!