Breaking Down Sports Betting: The Parlay Bet

In sports betting, a "Parlay" is a single bet that links two or more individual wagers for a high payout. The caveat? All individual bets within the parlay must win for the bet to be a winner.

Parlays are a favourite among many sports bettors due to their potential for high payouts. However, this type of bet comes with an increased risk. The entire parlay is lost if even one of the linked bets loses. This is why, while potentially profitable, parlays are also viewed as high-risk wagers.

The term 'Parlay' has French origins, coming from the word 'paroli', which means 'to double'. A parlay bet is a series of wagers where the original stake plus winnings are placed on successive bets.

Parlays intersect with many betting terms such as 'Money Line' (betting on which team will win), 'Over/Under' (betting on total points scored by both teams), and 'Point Spread' (betting on the predicted scoring difference).

Example 1

A bettor might say, "I've got a three-team parlay for tonight's games. I need all three to win to make a decent profit."

Example 2

In a betting guide, the author might write, "A parlay can increase your potential payout, but remember, it's a high-risk bet since you must win all individual bets to win the parlay."

Example 3

On a sports talk show, a host might say, "Our guest today turned a 100 NGN  parlay into 50000 NGN  by correctly predicting the outcomes of five different games last weekend."