Parlay definition is - to bet in a parlay. How to use parlay in a sentence. A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games. The allure of these bets has always been a larger payout.

A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games.

The allure of these bets has always been a larger payout than choosing a single team to win. But there’s more gamble to these types of wagers because every “leg” of the parlay needs to not lose in order to win. If one leg loses, the whole parlay loses.

The flexibility of a parlay bet also makes it attractive to gamblers. You can combine multiple sports into your parlay bet; for example, you can include the Cowboys from the NFL, the Celtics from the NBA and the Coyotes from the NHL into a single bet. If they all win, you win.

Test out the parlay calculator above and compare odds at different sportsbooks to see how it works!

Placing a parlay bet

There are two ways to place a parlay bet and both are quite simple. Bettors can either tell the ticket writer directly which teams and totals they’d like to bet on and how much they’d like to risk on the bet. Filling out a parlay card is the other option for placing this kind of bet. Once the card is filled in, the bettor simply needs to visit the sportsbook desk to place the bet.

Some mobile sports wagering apps offer both types of parlay bets.

Get the best parlay deal at online sportsbooks with Parlay Insurance here:

Winning a parlay

There are two instances when a parlay can be a winning bet. A parlay only wins if none of the sides, totals or moneylines selected is a loser. The parlay can still be a winner if a game is canceled or ends in a tie. The pay schedule will simply more down to the lesser payment. For example, the bettor will win if a baseball parlay for four teams has three winners and one game is canceled because of rain. The bet will only pay based on the schedule for three winners instead of four as originally planned. The bet is a loser if one pick for a parlay is wrong.

Parlay odds

Not all parlay payouts are the same. Sportsbooks may have different odds for the number of teams bet in a parlay. This can be very confusing when looking at online sports that have different odds and payouts for the same parlay. Further, these odds may change at any time so bettors should check with the ticket writer in sportsbook before placing a parlay.

Parlay payouts

Payouts for a parlay are fixed by the time the bet is placed. Even if the lines and odds for an individual game move, the parlay lines and odds won’t change from when the parlay bet was placed. The parlay bet won’t be changed whether the lines change for or against the bettor.

If the lines change for a game, or games, in the favor of the bettor another parlay may be bet with the new line. The original bet cannot be changed and the bet will stand. The good news is that the bettor has two live parlay bets.

Types of parlays

A parlay is a type of sports bet and there are different variations of this kind of wager. The most common types of parlays are Round Robin parlays and Teasers.

Nfl Week 2 Parlay Card

Round Robin

A Round Robin bet is placing multiple parlay wagers at once. It’s just that simple. Round Robin bets are just a way to simplify making multiple parlays. When a bettor “Round Robin’s” teams in sports betting it’s similar to a horse bettor “boxing” horses for an exacta or trifecta bet in a race.

The bettor will select anywhere from 3 to 8 teams or totals to be in the Round Robin. They will then choose how many teams or totals they’d like to tie together for the Round Robin. For example, a bettor may select eight teams and totals for a Round Robin and tie the parlays to as many three-team combinations as possible.

The combination of teams will dictate how many different parlays the bettor has. Continuing the example, if a bettor wants to Round Robin eight teams they will have 28 different parlays if they choose two teams. If the bettor chooses to make three-team parlays they will have 56 different parlay tickets.

The ticket will cost the amount chosen for each parlay. If the bettor only has $300 they might choose to Round Robin the teams by two, so they have 28 different parlays for $10 each. The payout for each winning parlay is the same as it would be if the parlay bets were each made individually.

Teaser

A teaser is similar to a traditional parlay where the bettor can select multiple teams or totals. However, there are no moneylines allowed with a teaser. Unlike a parlay, the bettor may move each point spread or total plus or minus a certain number of points. The additional points on the spread or total make these bets easier to win and thus they pay less than a traditional parlay.

Teaser bets can change the point spreads or totals anywhere from six to 10 points. However, each leg of the teaser must use the same number of points. Those legs of the teaser may go in different directions.

• For example, the New England Patriots -7 can be teased down six points to -1. Meanwhile, the Cleveland Browns can be teased up six points from +4 to +10 points.

Much like a traditional parlay, the more teams involved with a teaser the better the payoff. Again, different sportsbooks have different odds and rules so they might have different payouts and teaser options available to bet.

Parlay Cards

The more popular way to bet parlays in casinos today seems to be with a Parlay Card. These are the long narrow cards where bettors fill in the numbered circle of the side or point spread they want to include in their bet. Once the teams and totals are chosen the bettor simply presents the filled in portion on the card to the ticket writer in the sportsbook along with how much they’d like to wager.

Parlay Cards are especially popular during football season. There are many different types of Parlay Cards including a variety of teasers, ties win and reverse teaser cards known as pleasers. These are more popular every year so the mobile sports wagering apps have started to add Parlay Cards for mobile bettors.

Point Spread Basics

If there is a plus next to the team you selected - add those points to the final score for your team.

If there is a minus next to the team you selected - subtract those points from the final score for your team.

ASK for a QUICK PICK

Not sure what selections to play? Just ask your Retailer for a full or partial quick pick. Quick pick is available for all selections or for teams only. The Lottery will generate a ticket with random selections.

FOR ALL PARLAY CARD CHANGES/UPDATES, PLEASE VISIT A SPORTS RETAILER OR CASINO SPORTSBOOK.

2 Parlay Payout

Wagers

Week 2 Parlay Cards

• Totals (Over/Under) Wager (Pro Only)
  The Total is the combined amount of points scored by both teams during the game, including overtime.A player may wager Over or Under the total. In an Over wager, the player wagers that the total combined points scored by the two teams will be more than the total. In an Under wager, the player bets that the total points scored by the two teams will be less than the total. There will be no totals during the preseason. The Half-Point, Teaser and Super Teaser Parlay Cards will carry all totals. The $100,000 Parlay Card will have select totals on occasion. There is not a Totals-Only Card.
• Early Bird Card (Pro Only)
  To play Early Bird Cards, refer to the designated separate sheet for teams and point spreads. A new sheet is available each Monday and Tuesday. Download the most current sheet.
• Half-Point Parlay Card
  The Half-Point Parlay Card is the most popular type of card in Las Vegas and will offer payoffs ranging from 6.5 for 1 on a 3-selection parlay to 2,500 for 1 on a 12-selection parlay. All point spreads use half points, eliminating the possibility of a tie.
• Teaser Card
  On a Teaser Card, the point spreads differ from those on the Half-Point Card. The favored teams have to cover fewer points in order to be winning selections. The underdog teams receive more points. The payoffs on the Teaser Card are lower than they are on the Half-Point Card because of the advantage the player gets on the point spread. On a Teaser Card, players may parlay from 3 to 20 selections (since the point spreads have been adjusted, wagering is available on both sides of a game) and receive payoffs ranging from 12 for 5 to 1,000 for 1. All point spreads use half points, eliminating the possibility of a tie.
• Super Teaser Card
  On the Super Teaser card, the point spreads are adjusted even more than with the Teaser card. The favored teams must cover even fewer points in order to be winning selections. The underdog teams receive more points, The payoffs on the Super Teaser card are lower than they are on the Teaser cards because of the additional advantage the player gets on the point spread. On a Super Teaser card, players may parlay from 4 to 20 selections and receive payoffs ranging from 11 for 5 to 80 for 1. All point spreads use half points, eliminating the possibility of a tie. Players may bet on both sides.
• Reverse Teaser Card (Pro Only)
  On the Reverse Teaser card, the point spreads are adjusted so the favored teams must cover a larger point spread and underdog teams must cover a point spread that is smaller, and, in some cases, even minus points. In some cases, both teams in a game may be minus points and you may not bet both teams in that game. Because of these point-spread adjustments, the payoffs are much higher than those found on the other Teaser cards. On a Reverse Teaser card, players may parlay from 3 to 8 selections and receive payoffs ranging from 20 for 1 to 5,000 for 1. All point spreads use half points, eliminating the possibility of a tie.
• $100,000 Parlay Card (Pro Only)
  Players wager $5 and select 15 games against the point spread. If a player correctly picks 15 out of 15 games, he wins $100,000. If there is more than 1 winning ticket, the $100,000 prize is divided equally among the winning tickets. The $100,000 Parlay Card will have a few select Totals (Over/Under) Wagers upon occasion.

• Football Futures:
  

  No card required. This wager is offered for the entire current season. To place a bet, the player simply selects a team. The odds fluctuate during the season, but are locked in at the time the wager is placed. Note: The Delaware Lottery reserves the right to refuse any wager/multiple cards or delete or limit any selection(s) prior to acceptance of any wager.

Additional wagers:

• Off-the-Board Parlays
  In Off-the-Board Parlays, the point spreads may fluctuate from the opening line. Players can parlay from three to eight teams and receive payoffs ranging from 11 to 2 to 160 to 1. There is a $5 minimum bet on Off-the-Board Parlays.

• Off-the-Board Teasers
  The players can select 6, 6 1/2, 7, 10 and 14-point Teasers. A Teaser allows the player to add extra points to an underdog’s point spread or subtract points on a favored team.

• Halftime Wagers
  A halftime wager, for betting purposes, resets the score of a game at 0-0 at halftime of a game. For example, if the Green Bay Packers lead the San Francisco 49ers at halftime by a score of 14-10 and you wager on the Packers -3 1⁄2 points in the second half, the Packers must win the game by eight points or more to cover the spread. Halftime wagers also include any overtime periods that are played.
  

• Off-the-Board Odds

  Delaware Lottery Sportsbook and Sports Lottery Retailer Wagering Rules apply to parlay cards unless otherwise stipulated on the cards. The Delaware Lottery reserves the right to add, delete, or change its Wagering Rules and/or payoff odds at any time.

Note : Wagers are not available for Delaware based teams.