Parlay Betting App
- Parlay betting is one of the most popular forms of sports wagering. A parlay is a bet that is dependent on the combined outcomes of two or more wagers. The wagers can be a mixture of multiple bet types including spreads, moneylines, and over/unders. A parlay bet only pays out if each of the wagers cover.
- Jan 28, 2021 With mobile and online sports betting launched in Michigan on Jan. 22, the BetMGM app is likely to become a popular destination for sports bettors no matter where they are in the state. The company’s partnership with the Lions figures to signal scores of promotions and prize opportunities during the NFL season.
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 BetMGM app offers a user-friendly mobile gaming experience, giving sports fans in Michigan the opportunity to customize pre-game, live in-play, futures and parlay wagers. App users can access.
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.
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.
The BetMGM sportsbook apparrived in Pennsylvania on Dec. 17, a few weeks after the launch of the company’s online casino.
“The response to BetMGM Casino in Pennsylvania has been incredible, and we’re thrilled to bring our best-in-class sports betting offering to the Keystone State,” said Adam Greenblatt, BetMGM CEO.
PA’s newest sportsbook provided a betting recap of 2020 that included big bets, parlays and more from users across the eight states where the sportsbook is available.
Although BetMGM was not available in PA at the time, the Seattle Seahawks vs. Philadelphia Eagles game on Nov. 30 posted the third-largest handle of any single game in 2020.
BetMGM reflects on 2020
States with the BetMGM app with the highest handle in 2020:
- Nevada
- New Jersey
- Colorado
- Mississippi
- Indiana
Jason Scott, VP of Trading, BetMGM, commented in an email:
“COVID wreaked havoc on the 2020 sporting calendar, which was challenging for both bookmakers and bettors. Despite the pandemic, the 2020 sporting season was a great success. We expect continued growth with betting now available in Indiana, West Virginia, Tennessee and Colorado, as well as further development in New Jersey and Pennsylvania.”
At BetMGM, sports with the biggest increase in betting action this year were MMA, golf and soccer.
BetMGM 2020 betting recap
Biggest single game-winning bet of 2020
- $500K to win $510K on Vikings -0.5 (11/29/20)
Biggest parlay winner of 2020
- $100,000 to win $206,000 on two-team parlay including Cardinals over 7.5 and Athletics -189 (9/10/20)
Biggest single-game parlay winner of 2020
- $10 to win $15,000 on a 10-team Build-a-Bet parlay (12/27/20)
- D. Lillard over 8.5 assists
- J. Harden over 10.5 assists
- C. Wood over 22.5. pts
- C.J. McCollum over 18.5 pts
- D. House Jr. over 9.5 pts
- D. Lillard over 30.5 pts
- J. Harden 40+ pts
- C. Wood over 11.5 rebounds
- D. Jones Jr. over 4.5 rebounds
- P.J. Tucker over 6.5 rebounds
- $10 to win $15,000 on a 10-team Build-a-Bet parlay (12/27/20)
Biggest handle of a single game in 2020
- Deontay Wilder vs. Tyson Fury (2/23/20)
- Super Bowl: Chiefs vs. 49ers (2/2/20)
- Seahawks-Eagles (11/30/20)
- Ravens-Patriots (11/15/20)
- Vikings-Bears (11/16/20)
Single game that had the biggest win for the books in 2020
- Ravens-Patriots (11/15/20)
- Seahawks-Eagles (11/30/20)
- Vikings-Bears (11/16/20)
- Eagles-Browns (11/22/20)
- Chargers-Bills (11/29/20)
Biggest NFL and college football winning bets
NFL biggest-winning single bets
- $500K to win $510K on Vikings -0.5 (11/29/20)
- $283,022 to win $523,591 on Rams +185 moneyline (11/23/20)
- $550K to win $522,500 on Buccaneers +3.5 (11/29/20)
- $582,024 to win $506,361 on Saints -8.5 (11/29/20)
- $550K to win $500K on Titans +3 (11/29/20)
NFL biggest-winning parlay bet
- $132K to win $101K on Bills -250 moneyline and Colts -385 moneyline (10/4/20)
College football biggest-winning single bets
- $550K to win $522,500 on Iowa State -105 moneyline (11/27/20)
- $550K to win $522,500 on Kansas State-Baylor over 44.5 (11/28/20)
- $550K to win $500,500 on Utah +7 (11/28/20)
- $550K to win $500,500 on Georgia-South Carolina over 49.5 (11/28/20)
College football biggest-winning parlay bet
- $9 to win $139,543 on nine-team parlay on Arkansas State +450, App State under 59.5, Coastal Carolina +185, Duke +20.5, Georgia Tech +325, North Carolina under 65.5, Iowa State under 56.5, UTSA +200 (9/12/20)
Biggest NBA and college basketball winning bets
NBA biggest-winning single bets
- $71,881 to win $165,327 on Nuggets +230 (9/15/20)
- $49,293 to win $69,010 on Bucks +140 (9/6/20)
- $56,307 to win $61,937 on Heat -7.5 (9/8/20)
- $57,856 to win $60,749 on Heat +6.5 (9/15/20)
- $60,823 to win $57,782 on Nuggets +5.5 (9/15/20)
NBA biggest-winning parlay bet
- $80 to win $52,797 on a five-team parlay on Heat +135, Nets +1300, Blazers +145, Magic +100, Suns +310 (8/4/20)
College basketball biggest-winning bets
- $440K to win $462K on Gonzaga -16 (11/27/20)
- $450K to win $427,500 on Clemson -105 (11/26/20)
- $347,473 to win $316,201 on Boston College -1 (11/26/20)
- $313,290 to win $297,625 on Villanova -5.5 (11/26/20)
- $275K to win $239,250 on Pepperdine -3 (11/25/20)
College basketball biggest parlay bet
- $23,083 to win $65,051 on two-team parlay with Georgia -5.5 and Seton Hall -26.5 (12/8/20)
Largest MLB winning bets
MLB biggest-winning single bets
- $164,309 to win $427,203 on Angels +260 (9/6/20)
- $221,254 to win $380,258 on Rockies -1.5 (9/5/20)
- $200K to win $310K on Orioles +155 (9/5/20)
- $75K to win $232,500 on Orioles +310 (9/4/20)
- $230K to win $230K on Rockies +100 (9/5/20)
Parlay Betting App
MLB biggest-winning parlay
Parlay Betting App Yahoo
- $100,000 to win $206,000 on two-team parlay including Cardinals over 7.5 and Athletics -189 (9/10/20)
Parlay Betting Tips
Lead image credit: AP Photo/Alex Brandon