Table of Contents
Introduction:
It’s no secret that Americans love betting on sports. A recent study by the American Gaming Association found that nearly half of all Americans placed a bet on at least one sporting event in 2018. Best Online Sportsbooks in 2022 Whether you’re new to betting or a seasoned pro, learning how to place a parlay bet can help you increase your chances of winning and make your bets more exciting.
What is a Parlay Bet?
A parlay bet is a wager that allows you to combine two or more bets into one. For example, you could place a parlay bet if you wanted to bet on the Los Angeles Dodgers and the San Francisco Giants to win their respective games. If both teams won, you would win your bet. The downside to this type of wager is that you lose your entire stake if even one team loses.
Parlay bets can be placed on any sports event, including baseball, basketball, football, hockey, etc. You can also combine different types of bets into one parlay. For example, you could bet on the Dodgers to win and the over/under for the game.
What is the Math Behind a Parlay Bet?
If you’re not familiar with the term “parlay,” it simply refers to a bet that combines two or more individual wagers into one single bet. For example, if you wanted to bet on three different football games, you could do so by placing a three-team parlay bet.
The math behind a parlay bet is quite simple. Essentially, the payout for a parlay bet is determined by multiplying the odds of each wager. So, if you had a three-team parlay bet with odds of 2-to-1, 3-to-2, and 4-to-1, your overall payout would be 24-to-1.
Of course, the downside to parlay betting is that all of your wagers must hit for you to win. So, if even one of your bets loses, your entire parlay bet will be a loss. This is why parlay bets are generally considered high-risk/high-reward bets.
We offer some of the best odds in the industry, and we’re always adding new bets to our lineup. So, whether you’re looking to bet on football, basketball, baseball, or any other sport, we’ve got you covered.
How does a parlay bet work, and is Parlay Payout Calculated?
In a parlay bet, the payout is calculated based on the odds of all the legs in the bet. For example, if you have a four-leg parlay bet with odds of 1.5, 2.0, 3.0, and 4.0, the total odds of the bet would be 1.5 x 2.0 x 3.0 x 4.0 = 24. The payout for this bet would be calculated as follows: (24 x stake) – stake = 23 x stake. So, if you placed a $10 bet, your total payout would be $230 ((24 x 10) – 10).
Parlay bets can be very profitable, but they are also very risky. It would help if you won all of the legs to receive a payout. If you only win three out of four legs, you will lose your entire stake.
A parlay bet is a wager that combines multiple individual bets into one single bet. The odds of winning a parlay bet are higher than winning each, but the payouts are also higher. Parlay bets are popular among sports bettors because they offer the opportunity to win big without risking a lot of money.
How Do I Make a Parlay Bet?
Select the sports and games you want to bet on to make a parlay bet, and then choose “Parlay” from the bet type dropdown menu. Enter your stake in the box provided and click on “Place Bet .”Your parlay bet will be placed, and you will be shown the potential winnings for your bet. If you want to place a parlay bet at an online sportsbook, you must first create an account and deposit some funds. Once you have done this, navigate to the sportsbook’s website and find the page for the sport you want to bet on.
Check out our guide to learn more about this type of wager and the best online sportsbooks to use in 2022:
BetMGM:
One of the most popular online sportsbooks and casinos in the US is Betmgm. They offer their users a wide range of betting options and casino games. You can bet on everything from football to darts, and they have a great selection of markets for each sport.
You can bet on your favorite sports teams, play casino games, and even withdraw your winnings using convenient banking options. BetMGM Sportsbook is a good option. They offer a 100% match bonus of up to $500 on your first deposit and a wide range of betting markets on different sports.
DraftKings:
Another top online sportsbook in the US is DraftKings Sportsbook. They offer various betting options on different sports and casino games and live dealer tables. You can also withdraw your winnings using their convenient banking options.
- Website: http://www.draftkings.com/
PointsBet:
PointsBet Sportsbook is one of the newest sportsbooks to enter the United States market. The Australia-based bookmaker has been taking bets online since early 2019 and has quickly become a favorite among American bettors.
- Website: http://www.pointsbet.com.au/
Bet365:
The Bet365 sportsbook is an excellent choice for betting on football matches. They offer a wide variety of markets, competitive odds, and a great user experience. Whether it’s a Premier League match or a lower-level game, you can bet on any football match with the Bet365 sportsbook.
The Bet365 sportsbook also offers several promotions and bonuses to help you get more value for your money. For example, they often offer free bets or boosted odds on specific markets. If you’re looking for a great place to bet on football, Bet365 is a great choice. Bet365 is one of the most popular gambling sites globally, with over 18 million customers in more than 200 countries.
- Website: https://www.bet365.com/#/HO/
FAQs about Best Online Sportsbooks in 2022:
What is the best sportsbook?
These are the best sportsbooks based on our ratings:
- FanDuel Sportsbook.
- Caesars Sportsbook.
- DraftKings Sportsbook.
- PointsBet.
- BetMGM.
- Barstool Sportsbook.
Which sportsbooks are the sharpest?
- BetOnline – Sharpest sportsbook in the US.
- Bovada – Great balance between sharp betting lines and features.
- XBet – Very low juice on a wide range of markets.
- Sportsbetting. ag – High betting caps of up to $2,500 per bet.
- MyBookie – Wide range of sports and markets covered.
How Many online sportsbooks are there?
How many online sportsbooks are there in the US? There are over a dozen online sportsbooks that are licensed and regulated in at least one state.
How do I choose a sportsbook?
Steps to Picking Out a Sportsbook
- Decide What You’re Looking For.
- Make a List of Your Deal-Breakers.
- Find a Short List of Candidates.
- Read Reviews and Test Each Site Out.
- Make a Decision.
- Sports Covered.
- Bet Options Available.
- Timeliness of Lines.
What is an online sportsbook?
In the United States, a sportsbook or a race and sports book (sometimes abbreviated as a book) is a place where a gambler can wager on various sports competitions, including golf, football, basketball, baseball, ice hockey, soccer, horse racing, greyhound racing, boxing, and mixed martial arts.
Which Sportsbook has the fastest withdrawal?
The Sportsbook with one of the fastest options for payout processes is FanDuel, offering winnings withdrawals through ACH/E-Check, physical checks, PayPal, and the FanDuel Prepaid Card. The FanDuel Prepaid Card is one of the fastest withdrawal options available for getting quick access to your winnings.
Which sportsbooks have instant withdrawal?
Fastest Withdrawals Casinos
- Bet365 Casino: Same-day withdrawals via certain methods.
- SugarHouse Casino: Processes payout requests in under 24 hours.
- BetRivers Casino: Payout requests are approved in less than 24 hours.
- FanDuel Casino: Pays out in under 48 hours via PayPal and Play+
How long does it take for Sportsbook to pay out?
Most sportsbooks state that a withdrawal request can take up to 48 hours to review and process, but that’s mostly dependent on the volume of requests they receive at the time. Usually, you will hear back about whether the request was successful within 24 hours.
Conclusion:
Parlay bets can be a great way to make some extra money, but it’s important to understand how they work before you start placing any wagers. Make sure you check out our list of the best online sportsbooks in 2022 so that you can place your parlays with confidence. Good luck and have fun!
