Parlay Bet
This is a mobile sports bet that combines an amount of bets starting at two and can go up to several bets (could be up to twelve or higher). This type of sports bet pays off a big payout, if the selections chosen are all correct. You could make these bets separately, but it would cost you more to place these wagers individually than it will on a single parlay bet. The payout is big, but if you lose any of the selected bets; you lose the entire parlay bet.
The parlay bet can be bets on two or more teams, or by combining bets on the same event, such as one money line bet along with one over (or under) bet. The payout for this type of mobile sports bet varies, depending on the amount of bets included in the parlay and the sportsbook. Generally, the bet has a higher payout for the more bets included in the parlay. Make sure you always check the mobile sports betting site for payoffs on parlay bets, before you wager any money.
Examples of Possible Parlay Odds and Payouts:
Number of Teams Odds Payouts
Two Teams 2.6/1 $260 for each $100 bet
Three Teams 6/1 $600 for each $100 bet
Four Teams 10/1 $1000 for each $100 bet
Five Teams 20/1 $2000 for each $100 bet
The above examples are rounded out for easier understanding of the payouts given for parlay bets. In the above example, if you bet a $100 three team parlay and all of your picks were correct; you would win $600 plus your original bet of $100, for a total payout of $700. If any of the three picks were incorrect, you would lose. You could also figure the above example in bet amounts of $10 in place of the $100, just as you can in the other previous sports bets mentioned.
Mobile Sports Betting Tip: It is advised that you make sure you are aware of all of the rules concerning parlay sports bets, prior to placing any. It will matter where you are making your parlay bets, as to how a tie or canceled event is handled when it is part of a parlay bet. You will find some mobile sports betting sites that consider ties to be losing bets and therefore, your parlay bet will be lost. There are others that will not count ties, but revert the parlay to the next lower payoff level; unless it is a two-team parlay, in this case, it would become a straight bet.
Note: You can usually wager parlays in football, basketball, baseball, and hockey. It is also possible at many mobile sportsbooks to combine different sports to create a parlay bet.
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