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How to Parlay Bet on Bet365 | Complete Guide

ByFrank Ammirante

Nov 7, 2022

bet365 is one of the top choices in the sports betting industry. They have everything you need for a satisfying experience, including a convenient payment process, multiple betting markets, helpful promotions, and more.

One of the features that stands out on this platform is its parlay options. Not only can you combine bet types from several sports, but you can also create Same Game Parlays. To make things even better, you can parlay live bets, which is something that is not often offered by other operators.

We’re going to break down parlay wagering at bet365, informing you about the process and strategies to be effective in this market.

How to Bet Parlays on bet365

Step 1: Create an Account or Sign In

Check out our bet365 review for an in-depth overview of the platform. Click on one of the “Get Bonus" buttons, which will bring you to the site’s homepage and unlock the best signup bonus. Next, you have to provide your name, address, and more so that bet365 can verify your identity. If you already have an account, sign in with your username and password.

Step 2: Deposit Funds

You can fund your account by clicking “Deposit," which is easy to find on the top-right corner of the page, located right next to your user information icon. The payment process is convenient, as not only are there several methods, but deposits are instantly reflected in your balance.

Step 3: Navigate the Betting Markets

Choose the sports league that you want to target for your parlay. There is a list of leagues found on the left of the page. From there, you can pick one of the traditional bet types (moneylines, spreads, totals) or find other wagers by clicking the game (props). Select multiple bet types to create a parlay.

Step 4: Add to Your Bet Slip

bet365 will show your potential payout based on the odds and number of picks in your parlay. You can type in your stake to see what your winnings could be if you hit on your wager. If you want a traditional parlay, you can select “Place Bet."

Step 5: Same Game Parlay

To wager on a Same Game Parlay, click the match that you want and select the option for this wager type. You’ll see the bet types that are eligible to be used here. There are also pre-generated parlays created for you, if that’s your preference, found on the main page of your betting market.

What Is a Traditional Parlay?

Traditional parlays are combinations of two or more wagers. The appeal here is that you’ll win more money with lower stakes. The challenge is that you need to correctly choose each pick in order to win. That means even if you only get one wrong, you still lose. Bet365 allows you to choose up to 20 legs within your parlay.

These involve bet types such as moneylines, spreads, and totals. They are from different games and may include multiple sports. Recently, player props have become an option to include in these types of parlays due to their increased popularity.

Here’s an example:

  • Chargers -3.5 (-110)
  • Jaguars +3.5 (-110)
  • Eagles -3.5 (-110)

This wager would pay at +600 odds, meaning that I’d win $600 on a $100 bet.

bet365 Parlay Rules

There is one distinct rule to keep in mind when choosing your parlay:

  • If one of your games pushes (ties), your parlay will still stand, but the odds will be updated to reflect the removal of that one selection.

Other rules are the same that apply to straight bets:

  • MLB games that end in fewer than 8.5 innings (due to rain) may be voided.

You can find specific rules for each sport under the “Help" section.

bet365 Same Game Parlays

This is a type of parlay that focuses on the same game. You’re able to choose from several bet types, including moneylines, totals, spreads, and a number of different props. The appeal here is that you can choose correlated props, which increases your win probability.

For example, if I took Patrick Mahomes Over 285.5 passing yards and Travis Kelce Over 80.5 receiving yards, there’s a good chance that if one hits, the other will as well. This is because I’m choosing a quarterback with his top target.

However, sportsbooks recognize this, so you’ll get lower odds on your Same Game Parlay than you would on a traditional wager with the same odds.

Let’s take a look at an example of a Same Game Parlay with depressed odds due to the correlation:

Angels vs. Blue Jays (+275 odds)

  • Blue Jays Moneyline (-180)
  • George Springer Over 1.5 Total Bases (+120)
  • Blue Jays Over 4.5 Total Runs (-130)

A traditional parlay with these three odds would pay at approximately +450. We’re getting much less value because if the Blue Jays win, there’s a good chance that Springer made an impact and they scored five or more runs.

This is a trade-off that makes sense because if your win probability is higher, the odds should reflect that. It could be a good idea to throw in some contradictory plays to increase your odds if you feel that there’s a chance that it hits.

Same Game Parlay Rules

Same Game Parlays have similar rules to traditional bet types. However, keep in mind that some sports may not have this feature. Also, there are a few bet types that won’t be eligible. Those that are will be listed in the “Same Game Parlay" section.

bet365 Round Robins

Round robins can be used to hedge your parlay. Essentially, you’re creating several combinations of the same parlay in order to recoup some losses in the event that your parlay misses by one leg.

Let’s say that I wanted to make a three-team parlay:

NFL: +600 odds

  • Cowboys -6
  • Giants +6.5
  • Colts -8

This parlay would return $700 on a $100 wager ($100 stake + $600 profit). If I miss even one game, my bet will be marked as a loss.

Alternatively, I can go with a round robin, which creates three parlays of two teams:

Parlay 1: Cowboys -6/Giants +6.5
Parlay 2: Cowboys -6/Colts -8
Parlay 3: Colts -8/Giants +6.5

Each parlay pays +250 odds. Instead of risking $100 to win $600, I’d be putting $300 to return $1,050. In this case, if I go two of three, I’d get back $700. In that case, I’d come away with a profit of $400. Instead of going +$600 or -$100 in a regular parlay, I have three options: +$400, +$750, or -$300.

Round Robin Rules

Round robin wagers have the same rules as both traditional and Same Game Parlays.

bet365 Teasers

Teasers are types of parlays where you change the point spread or game total to a more favorable number, increasing your win probability. The difference here is that there are fixed odds based on the number of points in your teaser. along with the selections. The payout is lower with this bet type.

In order to place this wager on bet365, you can create an alternative spread or total parlay. To do this, click on your preferred game to see the different options available for you.

Here’s an example: 6-point teaser, +180 odds

  • Ravens -6.5 to -0.5
  • Colts -8 to -2
  • Jaguars +3.5 to +9.5

Here you can see that the teaser gets me better numbers on the spread, albeit at lower payouts.

Teaser Rules

Teasers have the same rules as parlays, except for the fixed odds. The good news is that if one of your selections pushes, the teaser will remain active but with adjusted odds. Some operators count that as a loss with teasers, so this is an added perk with bet365.

bet365 Parlay Bets for NFL

There are several types of wagers you can put in your NFL parlay bets, including:

  • Spread
  • Moneyline
  • Totals (Game, Team, Quarters, Halves)
  • Props (Game, Team, Player)

You’re able to create traditional, Same Game, teasers, and round robins here.

Here are the best ways to target this bet type in the NFL:

  • Combine 3-4 moneyline underdogs for a high payout
  • Parlay 3-4 moneyline favorites to reduce risk on the heavy juice
  • Create a teaser of your top point spread or totals bets for the week
  • Put together a Same Game Parlay with correlated plays

Super Bowl

The Super Bowl is the best event for sports betting because it’s such a huge game that has been heavily analyzed. There are more props available than usual, including novelty props, such as the length of the national anthem.

The best way to approach Super Bowl parlays is to create a Same Game Parlay. Decide who you think will win the game and combine them with your favorite player props.

Parlay Bet Strategies

Here are some strategies to guide you toward success in parlays:

  • Find your favorite wagers of the week to use in the parlay.
  • Limit your parlays to a maximum of five legs.
  • Put fewer units on your parlays than on straight bets.
  • Use a teaser with the same parlay bets to cover your potential losses.
  • You can correlate your Same Game Parlays, but don’t go overboard because that gives you less value.

Parlay Betting for Beginners

If you’re a beginner to parlay betting, here’s what you should do:

  • Keep track of your record to see how you’re doing on parlays.
  • Think of parlays as your condiment on your hamburger, with straight bets as the patty. This means that you should only put in a few parlays and focus more on straight bets.
  • Shop around different sportsbooks to find the best bang for your buck on the lines.
  • Use any free bets on a longshot parlay to try to shoot for the moon.
  • Research your selections by looking at the head-to-head matchup, recent performance, etc.

How to Calculate Parlay Odds

When using a betting site to bet parlays, think about your parlay odds, you need to consider these factors, in this order:

  1. Odds of each leg
  2. Stake of your wager
  3. Number of selections

You may find that a 6-teamer pays less than a 3-leg parlay. This is because of the odds of each pick.

Odds are displayed in American format. These are positive or negative numbers.

Let’s take a look at three examples:

Parlay 1: Risk $100 (+600)

  • Divide 600 / 100 = 6
  • Multiply 100 x 6 = 600
  • Your payout is $600

Parlay 2: Stake $100 (-120)

  • Divide 120 / 100 = 1.2
  • Divide 100 / 1.2 = 83.33
  • Your payout is $83.33

Parlay 3: To win $100 (-130)

  • Divide 130 / 100 = 1.3
  • Multiply 1.3 x 100 = 130
  • Risk $130 to win $100

Why Are Parlays a Good Bet?

Parlays can be a good bet for these reasons:

  • Combine heavy favorites to reduce their risk. For example, if you put a straight bet at -300 odds, you’re risking $300 to win $100. However, if you combine two -300 favorites in a parlay, you’re risking $129 to win $100.
  • You can win a huge payout if you put together a parlay of several underdogs.
  • Teasers can cover your losses by helping your win probability through more favorable numbers.
  • Round robins help you get back some of those losses if your parlay loses by one leg.
  • Same Game Parlays give you a chance at a higher win probability through correlated outcomes.

Can Parlays Be a Bad Bet?

There are some downsides to parlays, such as the following:

  • Parlays have a lower win probability since you need to correctly choose each pick. They can drain your bankroll if you put too much money or make too many parlays. Mix in some straight bets.
  • Same Game Parlays give you a lower value on correlated plays. Try to include some negative correlations as well.
  • If you put too many games in your parlay, it’s basically a lottery ticket.

What Sports Are Available for Parlays?

These sports are available for parlays at bet365:

  • NFL
  • MLB
  • NBA
  • NHL
  • NCAAB
  • NCAAF
  • Soccer
  • Tennis
  • MMA
  • Golf

Is There Bet Insurance on Parlays?

Bet insurance is a popular signup bonus that refunds your first bet if it loses. This is usually capped at a number ranging from $200 to $1,500. The minimum odds for this tends to be -200, so you can use parlays on this, as long as it meets this requirement.

Author

Frank Ammirante

Before joining The Game Day, Frank spent three years in the fantasy sports and betting industry, writing for websites like RotoBaller and 4for4football. Frank is an active member of the fantasy baseball and fantasy football community, participating in high-stakes leagues like NFBC/NFFC as well as industry competitions like Scott Fish Bowl, RazzBowl, and TGFBI. Frank is a member of the FSWA and IBWAA. Give him a shout to talk fantasy sports and sports betting.

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