How Do Parlay Bets Work

Offering diverse opportunities, to cash large winning wagers and as a hedge option, parlay betting can also lead to some serious bankroll building. Due to Provincial Lottery restrictions, Canadian bettors are more familiar with parlay wagers than they would like to be. That being said, this underrated sports wagering option is a valuable tool in a handicapper's toolbox and our video below offers insight into how parlay bets work. 

Parlay Betting Odds Explained

You've probably heard the term “parlay betting" but do you know what it means? More importantly, do you know how much fun it can be and how much more money you could win?

Combo-game plays are one of the most lucrative forms of wagering available today. No matter the sport - parlay betting odds are the same lines used to place single wager tickets. Let’s examine how players can benefit from this exciting option. That includes increasing the value of shortened prices, or adding a protection to a possible losing ticket, which are bonuses associated with parlay betting.

Sportsbooks Parlay Odds vs Proline

With the government steadfastly clinging to an out-dated and house favouring law, that bans single game wagers in the Great White North, Canadians are certainly some of the most knowledgeable parlay bettors on the planet. While having “parlay smarts” is a good thing – the fact that provincial lottery schemes force a combo bet on every ticket is not. Within our Lottery Review section, we provide many reasons why Canucks are much better off at top rated offshore shops. That includes punters receiving better value, almost always; with sportsbook parlay odds vs Pro-Line offerings. 

As an example, a Green Bay + Pittsburgh $100 two team NFL 2017 Championship Sunday parlay was offering a $593 return on ACLC Pro-Line prices while William Hill bookmakers were paying a $768 profit on the same wager. That is a huge difference as Pro-Line had the Packers listed at +135 and the Steelers at +195 while the William Hill money line odds were +180 and +210 respectively on the NFC and AFC Championship road teams. Fact are facts and if bettors are not being offered the best prices on the biggest games of the year – imagine the value they are receiving 40 matches into the 82-game NHL season. Most often, when compared to online sportsbooks, it is not good.

Can Bettors Hedge Parlay Tickets With Pro-Line or Online Bookmakers?

Better value aside, while never forgetting how important it is, online bookmakers also offer players a number of opportunities to hedge their investments. While hedging bets will always be a personal choice (gamblers gamble – investors hedge) cashing a winning ticket is way better that tossing one into the trash. Recalling a sweet 2016 NFL Divisional Playoff parlay ticket as a solid example; we had a New England + Arizona two-team money line parlay. After the Patriots defeated Kansas City in the early game – we pondered the options we had with the Packers vs Cardinals end of our ticket.

Feeling the Green Bay +7 ATS line was a little high, especially on a team that features an NFL MVP pivot, we decided to take QB Aaron Rodgers & Crew with the spread on a single bet. As it turned out, the Cardinals won by six points so we cashed both tickets. With the provincial lottery schemes, Pro-Line bettors are denied an opportunity to place single game bets that can protect or enhance a parlay that is already halfway home. Better lines and prices, plus more options and better flexibility, are sought after features available at the top rated online sportsbooks listed in the table below.