In short, parlay bets require more skill and a dash of luck than the average single or straight wager, as you will be required to make multiple correct predictions in order to successfully win one parlay bet. The more individual selections added, the higher the parlay odds will be. The parlay odds are higher than the individual selections included in them, however if just one of those selections loses then the entire parlay bet will lose.įor example, let's take a look at look at an average parlay bet put together on BetMGM Sportsbook : So then really, what is a parlay bet? A parlay bet is a combination of two or more betting markets. While we cannot completely understand all characteristics of the parlay bet from such a short definition, it's still a pretty good basic overview. ( Parlay definition - a single wager that combines two or more individual bets and is completely dependent on all of the individual wagers winning.)
