Super Bowl parlays offer bettors a unique and lucrative betting opportunity to boost their bankroll while watching the action of the big game unfold. Scroll down to see what Super Bowl parlay bets are and how to make the most of them. Be sure to also check out the best Super Bowl betting sites before placing your first wager!
Super Bowl Parlays
Super Bowl parlays are simply multiple wagers combined onto one bet slip. In order for you to win your parlay bet, all the individual wagers, or “legs” of the parlay, need to win. If one of them loses you lose the whole parlay.
How to Place a Super Bowl Parlay Bet
Want to get in on the action? Here’s how you can place your own Super Bowl parlay in a few easy steps:
- Compare sportsbooks. Check out our guide to the best NFL betting sites on the market and find the sportsbook that’s right for you.
- Open an account. Sign up by supplying your personal information such as your name, birthdate, address, email, and phone number. You may also be asked to verify your identity by supplying a scan of a driver’s license or passport.
- Fund your account. Make your first deposit through your preferred banking method. This deposit into your new sportsbook account will fund your bets.
- Select your bets. Navigate to the NFL section of your sportsbook. Select your bets, confirm your first Super Bowl parlay and sweat out the outcome. Be sure to check out all the Super Bowl betting markets available, such as the moneyline, point spread, and player props, find the bets that you think have the best chance of hitting, and compile them into your Super Bowl parlay picks.
Understanding Super Bowl Parlays (SGPs)
Parlay bets are about increasing the risk of the bet in order to gain a more favourable reward. When you make a parlay bet, the bookmaker will automatically combine the odds of each individual wager, which then results in a bigger payout than if you bet each leg as a single bet. For example, if you place a three-leg parlay, in order to win your parlay bet, you’ll need to get each featured pick correct. If even just one of your selections comes up short, so does the entire bet slip, meaning this is a high-risk, high-reward bet type.
Super Bowl Parlay Example: Same Game Parlay
Crafting Super Bowl parlay picks is never a dull moment. Most parlays are made based on the outcome of multiple games. Because the Super Bowl is a single contest, placing a parlay here is known as a “same game parlay” (SGP). Just like multi-game parlay betting, SGP wagers allow bettors to combine multiple wagers from a single matchup into one bet slip. From game lines to prop bets, you can add them all into your Super Bowl parlay.
For this year’s Super Bowl, the Philadelphia Eagles are playing the Kansas City Chiefs. You could bet a four-leg, same-game, Super Bowl parlay like this:
- The Eagles moneyline
- Over 44.5 points
- Patrick Mahomes as an anytime touchdown scorer
- The Eagles to score the first points of the game
If all four of these events occur, you’d win your wager, but if a single one of these bet selections doesn’t transpire, your parlay results in a loss.
Should You Bet on Super Bowl SGPs?
Whether or not you should bet on a Super Bowl same-game parlay depends on a variety of factors. The first and most important one to note is how much you’re willing to risk on the game. If your bankroll is fairly thin, same-game parlay betting is actually a solid option as it allows you to risk less for a greater payout, with the caveat that it’s more difficult to win.
To win a Super Bowl same game parlay, you’ll need to have solid knowledge of the NFL and the teams competing in the big game. If you aren’t well-versed on the teams and players featured in the matchup, it will be incredibly difficult to make multiple correct predictions.
The last thing you’ll need to take into account is what your goal is for betting on the Super Bowl. If you’re a professional handicapper and are looking to continue stacking up wins, same-game parlay betting may not be your style. If you’re a casual bettor who just wants to make the game a little more interesting, Super Bowl same game parlay betting is an awesome way to ramp up the intensity on the biggest football game of the year.
Building Effective Super Bowl SGPs
Unlike building a multi-game parlay slip, there are several elements that go into crafting an effective Super Bowl same-game parlay.
One area that is often overlooked by bettors is where you’re placing your wagers. With so many different sportsbooks at your disposal, it’s never been easier to find the best value when placing a Super Bowl bet. Be sure to check out our reviews of the best NFL betting sites in Canada and see which oddsmaker will provide you with the best Super Bowl betting experience this postseason.
Along with finding the best value on your bets, be sure to compare the variety of betting markets offered by each online sports betting app, as each comes equipped with its own unique lines and special betting markets on the biggest NFL matchup of the season.
Strategies for Best Super Bowl Parlays
As mentioned above, possessing solid NFL knowledge is a necessity when attempting to craft a winning same-game parlay slip. By knowing each team’s strengths and weaknesses, helpful statistical trends, and other finite details that comprise a well-thought-out bet slip, this can go a long way in scoring a big win on your Super Bowl same game parlay slip. Be sure to incorporate some of the strategies below so that you can maximize your winning potential for successful Super Bowl parlay betting.
🕵️ Create a Game Narrative
An easy way to help you build NFL parlays is by creating a game narrative. A game narrative establishes how you envision a matchup to play out. By creating a game narrative using your football knowledge and the latest stats, news and betting trends, you can then begin to make bet selections for your Super Bowl parlay.
⚖️ Balance Risk and Reward
Essential in keeping your betting habits safe and fun, balancing risk and reward is crucial when Super Bowl parlay betting. Through proper bankroll management, bettors can evaluate risk and reward for the bet they’re interested in placing, establishing if it is a worthwhile wager to commit to. If you don’t feel confident enough in your Super Bowl betting predictions to put up big money, don’t risk it. Instead, lower your wager size or slim down your picks only to those that you feel confident backing.
⚠️ Hedging Strategies
Hedging is when you place a bet that goes against another wager you’ve made, in order to secure a payout. Essentially, hedging takes a bite out of your other wager’s potential payout, but takes away the risk of an outright loss.
For example, let’s say you placed a futures bet on the Kansas City Chiefs to win Super Bowl LX prior to the playoffs beginning. If they were to reach the Super Bowl, you could hedge your original pick by placing a bet on their opponents to win the game. While this means that you won’t profit the full amount attached to your future, you can still guarantee yourself a profit or reduced losses by hedging the wager.
📈 Correlated Parlays vs Single Game Parlays
A correlated parlay is when a bettor places a bet that, if successful, will go along with the second leg of your parlay.
For example, if the Philadelphia Eagles were favoured in the Super Bowl at -6.5 points, you could bet the Eagles’ halftime spread of -3.5 and parlay it with the Eagles to cover the -6.5 point spread outright. With this, if the Eagles are able to cover the -3.5 point spread at the half, they would be on the right track to cover the full-game spread as well. This is a great way to add value to your bet slip if you’re interested in placing a single-game bet, but want to enhance your potential return.
🏆 Scout for the Best Super Bowl Odds
Getting the best bang for your buck should always be at the top of your mind when placing a Super Bowl bet. Make sure to scour the lines set by all the top Canadian sportsbooks to find the oddsmaker that will give you the best possible return for your bets on the Super Bowl.
What Bets Make Up a Super Bowl Parlay?
Let’s dive into the types of wagers you can make to create the best Super Bowl parlays. Below, we’ve highlighted each of the most common bets featured in a parlay slip so you can understand how to win your next bet.
➡️ Moneyline Bets
One of the most commonly used ways to bet Super Bowl parlays, moneylines are a great starting point for novice bettors, as well as an ol’ reliable for an advanced parlay bettor. Moneyline bets are when you wager on a team to win the game outright. If you pick correctly, your moneyline bet wins; if you pick the losing side of a matchup, your bet follows suit.
➡️ Point Spread Bets
The point spread is the projected point difference in the final score between the two teams competing in the matchup. For example, if the Houston Texans are favoured at -2.5 points against the Los Angeles Rams, they’d need to win by three points or more to cover the spread (-2.5 points from their final score), whereas if the Rams were to win outright or lose within 2.5 points, they’d cover the spread (+2.5 from their final score).
➡️ Over/Under (Totals) Bets
Instead of focusing on winners-and-losers, over/under or point total bets are another great game line option to consider when you build NFL parlays. In this betting market, the over/under applies to the amount of combined points scored within the game.
For example, if the point total of Super Bowl LX is set at 50.5 points, the over would hit if both sides combine for 51 or more points, whereas the under would be the winning bet if 50 or fewer points are scored. Over/under bets can also be used when analyzing prop bets, adding plenty of value to your parlay slip. Be sure to add point totals wagers to your slip this season in order to create the best parlays for Super Bowl LX.
Advanced Super Bowl Parlay Techniques 🎓
If you’re feeling confident in your football knowledge as well as the basic NFL parlay betting strategy outlined above, feel free to take a spin using some of the advanced Super Bowl betting techniques found below. These betting strategies are a superb way for experienced bettors to put together the best Super Bowl parlays.
Teaser Parlays
In sports betting, a teaser is when you buy or sell a point on a betting market in order to better fit your strategy. This can be done on both prop bets as well as game lines, but each online sportsbook will offer its own libraries and opportunities for Super Bowl betting.
In this strategy, bettors can adjust the lines for either increased value on a more difficult bet or decreased value on a safer wager. A popular example of this is buying the hook. The hook is the half-point set to separate the two sides of a market. By buying the hook in either direction, you can provide yourself with some increased insurance if you move it down, or can get better odds if you sell it up.
Live Betting Parlays
Live betting parlays for the Super Bowl are a terrific betting option for those who want to capitalize on a shift in momentum within the game as it’s unfolding. Live betting odds are constantly changing play-after-play, meaning you can find better value than what was being offered pre-game, depending on the market/events of the game. If you’re quick enough, Super Bowl betting enthusiasts can build out live betting parlays and score their next win based on the current flow of the game.
Common Super Bowl Parlay Mistakes and How to Avoid Them
With no shortage of ways to compile a Super Bowl parlay slip, it’s important to acknowledge and learn about some of the most common mistakes committed by bettors and how to avoid them.
🤦 Overcomplicating Parlays
While we all dream of winning big after hitting on a 20+ leg parlay slip, it simply isn’t worth the risk. It may not be impossible, but overcomplicating your parlays is never the way to go. Keep your parlays simple by only including wagers you feel comfortable with instead of loading up your slip with bets simply just to increase the odds. More often than not, you’ll lose that wager if you’re building with greed, rather than with your brain.
📉 Ignoring Correlations
A common mistake that many bettors overlook when placing Super Bowl bets is ignoring correlations. Some bets can go hand-in-hand, as mentioned above, with correlating parlays, but the same can be true about two legs of a parlay going against each other.
For example, if you were to bet the under on a quarterback’s passing yards, but then parlayed this with the over on his top receivers receiving yards, these two bets would contradict each other and while it can still potentially hit, it’s far less likely.
Be sure to understand how each bet type interacts with the others when building your Super Bowl betting parla,y and be sure to feature only bets that complement each other.
🔎 Overlooking the Vig
An easy way to lose out on potential value on your Super Bowl betting experience is by overlooking the vig. The vig (also known as juice) is the amount taken back by the oddsmaker for taking your wager. The vig only applies to wagers that are favoured; anything that is plus money doesn’t apply to this. Be sure to line shop across the top NFL sportsbooks in Canada in order to find the oddsmaker that charges the least amount of vig on your Super Bowl bets.
💸 Mismanaging Bankroll
Your bankroll is the amount of money you’ve allocated to risk while betting. Failure to correctly manage your bankroll can lead to a world of trouble if you begin losing your bets. By safely tracking your bets and managing your bankroll, bettors can avoid overspending while betting, avoid accruing any debt, and become conscious of their spending habits. Responsible gaming practices are pivotal in any bettor’s success and most of the top online sportsbooks have several tools and resources to help you manage your bankroll.
Replay: The Best Super Bowl Parlays
While Super Bowl parlays may be more difficult to win, they can provide not just a bigger payout but a far more entertaining sweat than wagering on a single bet. Prior to kickoff of this year’s Super Bowl, do your research, scour the lines, and take your time when building your next Super Bowl parlay. If you are able to correctly incorporate each of the tips and strategies found above into your parlays, you’re sure to have a positive betting experience for this season’s biggest game.
More Super Bowl Betting Resources
- Super Bowl Odds & Betting Sites
- Super Bowl Moneyline
- Super Bowl Point Spread
- Super Bowl Over/Unders
- Super Bowl Prop Bets
- Super Bowl Betting Games
- NFL News
Super Bowl Parlay FAQs
A good parlay for the Super Bowl is any wager that balances risk and reward. A good Super Bowl parlay should have enough risk involved without having to bust your bankroll, while still paying out enough for you to be happy with your potential return.
A $100 4-team parlay can pay a variable amount of winnings to a bettor; it all depends on the odds attached. For example, a $100 bet on +100 odds would pay $100 in profit, whereas a +400 bet would pay $400 for the same number of legs included in the parlay slip.
The most profitable strategy for a parlay slip is to keep it small. Parlays are harder to win than straight bets as you need to get multiple picks correct in order to be paid out as a winner. With this in mind, keeping your parlays simple with only two to three legs is the best strategy for those looking to turn a profit.
Yes, 25-leg parlays have been hit before. While incredibly rare, some bettors are lucky enough to find themselves winning parlays that feature several legs. Be sure to check the maximum number of legs allowed within a bet slip at your preferred online sportsbook to see what the biggest parlay you can craft would be.
Absolutely! You can place a parlay on the Super Bowl just like you would any NFL game.