Parlay calculators allow you to see how much you’d win with different wagers at varying odds. If a bettor chooses correctly on each wager, he or she receives an increased payout. Parlays can be as small as two outcomes, and can involve as many wagers as the sportsbook will allow (20-25 wagers is a typical cap). But what is parlay insurance and where can you find it? What is a Parlay?Ī parlay is any wager that combines two or more outcomes into one bet in exchange for a larger payout. Parlay insurance is the latest attractive offering to make parlay wagering enjoyable for bettors. But if you can cash the first leg or two of a four- or five-team parlay, the excitement goes through the roof!
If they lose (and let’s be honest, most of them do) you’re out a small amount of money.
Of course, this is not a sustainable wagering strategy – but it sure looks fun.Īnd fun is the main draw of the parlay wager. Each week, we seem to hear about a bettor taking a small risk ($5 or $10) and turning it into tens of thousands of dollars via a longshot parlay.
