How to Place a Parlay Bet: A Step-by-Step Guide for Beginners


Have you ever found yourself looking at a weekend full of games and feeling confident about multiple outcomes? Maybe you are sure the home team wins their football game, the star point guard scores over thirty points, and the local hockey team covers the puck line. Usually, you would have to place three separate bets. But what if you could tie them all together for a massive payday?

That is the magic of parlay betting. While it is one of the most exciting ways to wager on sports, it can also be a bit intimidating for newcomers. If you have ever stared at a betting app and wondered how to actually build one of these multi-leg tickets, this guide is for you. We will walk you through the process step-by-step, ensuring you can navigate the sportsbook with confidence.

Step 1: Choose and Fund Your Sportsbook

Before you can place a bet, you need a platform. In the United States, there are several major, regulated sportsbooks available depending on your state.

  • Download the App: Choose a reputable provider like DraftKings, FanDuel, or BetMGM.

  • Register Your Account: You will need to provide basic information (name, address, and the last four digits of your SSN) to verify your identity and age.

  • Deposit Funds: Navigate to the "Deposit" section. Most apps accept credit cards, bank transfers, or electronic wallets. Look out for "Sign-Up Bonuses" or "First Bet Insurance" which are common for new users.

Step 2: Navigate to Your Preferred Sports

Once your account is funded, look at the main menu. Sportsbooks typically categorize games by league (NFL, NBA, MLB, etc.).

  • Click on the sport you are interested in.

  • Browse the upcoming matchups. You will see different types of bets like the moneyline (picking a winner), the point spread (betting on the margin of victory), and totals (betting on the combined score).

Step 3: Start Selecting Your "Legs"

In a parlay, each individual bet is called a leg. To start building your parlay, simply tap on the odds of the first outcome you want to include.

  • Selection 1: You might pick the Dallas Cowboys to win their game.

  • Selection 2: You then navigate to a basketball game and pick the "Over" on the total points.

  • Selection 3: You could even add a player prop, like a specific quarterback to throw for two touchdowns.

As you click these odds, you will notice them appearing in a "Bet Slip" (usually located at the bottom or side of your screen).

Step 4: Access the Bet Slip and Select "Parlay"

This is the most critical step for beginners. When you have multiple selections in your bet slip, the app will usually give you two options:

  1. Straight Bets (Singles): Betting on each game individually.

  2. Parlay: Combining them into one single wager.

Look for the tab or section labeled "Parlay" or "Multi." The sportsbook will automatically calculate the combined odds for you. You will see that the potential payout for the parlay is significantly higher than if you bet on the games separately.

Step 5: Review the Combined Odds and Payout

Before you put your money down, look at the math. The sportsbook takes the odds of Leg A, Leg B, and Leg C and multiplies them together.

Example: If you have three legs that are all "even money" (+100), a $10 bet on a parlay would pay out $70 (your $10 stake plus $60 profit). If you bet $10 on them individually, you would only make $30 in profit.

Step 6: Enter Your Stake and Confirm

Decide how much you want to wager. One of the best parts of parlay betting is that you can "bet small to win big."

  • Enter your amount in the "Wager" or "Risk" box.

  • The "Potential Payout" box will update instantly.

  • Double-check your picks! Remember, if even one leg loses, the entire ticket is a loss.

  • Hit "Place Bet" or "Confirm Wager."

Common Parlay Variations to Explore

As you get more comfortable, you might want to try different styles of multi-leg wagering:

  • Same Game Parlay (SGP): Combining multiple outcomes from just one game (e.g., Team A wins + Star Player scores + Over 50 total points).

  • Teasers: A favorite for football fans, this allows you to adjust the point spreads in your favor in exchange for lower odds.

  • Round Robins: This is a more advanced way to place multiple smaller parlays at once, giving you a safety net if one of your teams lets you down.

Expert Tips for Success

  1. Keep it Small: While 10-team parlays look great on social media, they are incredibly hard to win. Stick to 2 or 3 legs to keep your win probability higher.

  2. Watch for Pushes: If a game ends in a tie (a "push"), most sportsbooks will simply remove that leg and "reduce" your parlay. For example, a 3-leg parlay becomes a 2-leg parlay.

  3. Use the "Cash Out" Feature: Many modern apps allow you to "Cash Out" early. If your first two games win and you're nervous about the third, you can sometimes take a partial profit before the final game even starts.

  4. Hunt for Value: Don't just pick favorites. Sometimes adding one small underdog can triple your potential payout.

Final Checklist Before You Bet

  • [ ] Is every leg of my bet correct in the slip?

  • [ ] Am I betting an amount I am comfortable losing?

  • [ ] Did I check for any "Parlay Boost" promotions in the app?

  • [ ] Do I understand that all legs must win for me to get paid?

Parlay betting is a marathon, not a sprint. It adds a layer of strategy and excitement to every game day. By following these steps, you can move from a casual observer to a confident bettor, ready to chase those big-time payouts.



Master the Art of Parlay Betting: A Comprehensive Guide to Multi-Wager Payouts


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