How to Parlay Bet on Fanatics

ByLance Patton

Aug 18, 2023

Fanatics is one of the leaders in the sports clothing industry and has now ended the beta and officially launched its sports betting platform in four states. You’ll find everything you need from a betting standpoint, including moneylines, totals, props, parlays, and same-game parlays.

Fanatics is a new operator in the sportsbooks industry, but they’re not new to sports with high-profile partnerships with the top sports leagues in the country including the NFL, NBA, MLB, NHL, F1, NASCAR, and more.

Fanatics is offering an assortment of betting markets within a user-friendly interface that makes it accessible for all players. You’ll find everything you need from a betting standpoint, including money lines, totals, props, and most importantly, parlays.

Parlays are fun and lucrative because they give you a chance to hit a higher payout while risking less money. Fanatics also offers the opportunity to combine wagers from the same contest to build a Same Game Parlay — which allows you to correlate your choices in a way that increases your win probability.

Below, we’ll dive into parlays on Fanatics and explain everything you need to know about this type of wagering. By the end, you’ll have a thorough understanding of this bet type and be ready to bet parlays on Fanatics.

How to Bet Parlays on Fanatics

If you want to learn more about this latest major name in legal sports betting before starting to wager, read our full Fanatics Sportsbook app hands-on review.

After you’ve scoped out our trial run through the mobile app, start creating your parlay bets. The steps are straightforward:

Step 1: Create an Account or Sign In

Players with existing accounts can simply enter their username and password to sign in.

New signups will need to navigate to the Fanatics Sportsbook app or website to create an account. After you’ve downloaded the app or begun the process on the website, fill out the necessary fields.

These fields include personal information — name, address, email, and more. You may have to confirm the creation through your email, as well as complete any necessary steps to verify your identity and location.

Step 2: Deposit Funds

You’ll then need to make a deposit using one of the many safe and secure deposit methods available on Fanatics.

There are several banking methods to choose from, including credit/debit card, PayPal, online banking, and wire transfer.

In order to be eligible for the Bet $5, Get $200 — you’ll need to deposit at least $5 in your account, which will show up in your app wallet to use instantly.

Step 3: Navigate the Betting Markets

Now you’re all set to find your preferred sport and wagers to combine in your parlay.

If your market is commonly targeted, you’ll find it on the top of the Fanatics app.

Otherwise, you can click schedule for all the top betting options of the day and all the sports available on the top.

Fanatics also has a search feature at the bottom of the app which allows you to search sports, teams, leagues, and more.

Once you’ve selected the one that you want, you’ll see a page filled with the upcoming available games. You’re able to choose multiple bet types to put in your parlay.

(Their betting markets might expand if they start incorporating games and odds from the Pointsbet Sportsbook app, which Fanatics purchased in July 2023.)

Step 4: Add to Your Bet Slip

When you click a bet type, it’ll be added to your bet slip.

Since we’re making a parlay, we’ll need to choose at least two picks. After selecting each event, you’ll see the updated odds for your parlay.

If you want to make a Same Game Parlay, simply click two options from the same game that you want and it will create a SGP for your chosen selections.

There are also pre-packaged options available under the “Home" tab section — many of which will come with boosted odds or that predict a “story" for the game.

Step 5: Finalize Your Selection

Determine how much you want to stake on this wager. You will see your potential winnings updated based on the size of your bet and the odds of the pick.

Click “Place Bet" when you’re ready.

What Is a Traditional Parlay?

Traditional parlay bets combine different wagers from multiple games or markets — called “legs" — to create one multi-step betting ticket.

You can choose moneylines, spreads, totals, and props within your combination. Parlays include at least two selections, with the payouts varying based on the odds of each pick and the number of plays.

The odds of each game take precedence for the overall payout, more so than the number of picks. You can see a two-leg parlay pay more than an eight-teamer, it just depends on the odds.

In order to win your parlay, you need to hit on every pick. Even if you only miss one, that’s still a loss. This is why it has a higher payout, as it’s more challenging to win.

Here is an example of a traditional parlay:

  • Dodgers (-150)
  • Brewers-Cubs Under 7.5 Runs (-110)
  • Padres -1.5 (-110)

This is a three-teamer with approximately +500 odds, meaning that it would pay $50 on a $10 wager.

Fanatics Parlay Rules

There are some rules to consider when betting on parlays at Fanatics:

  • Where one or more legs of a parlay is void or pushed for any reason, the bet will be settled using the remaining selections, which will become a new parlay, or a single wager in the event that only one leg remains.
  • If totals or spreads with whole numbers land there, it will result in a push for that leg (ex. 30-27 final score on an Over 57 in NFL).

The potential payout will be reduced to reflect the combined odds of the revised wager.

Cash Out is a feature that is offered on select parlays — which allows you to amend your original bet by settling your bet — or a portion of your bet — for the event to finish.

Cash-out values are reflective of current odds and are therefore bound to sportsbooks’ rules. Cashout may not be available for all parlay markets.

Fanatics Same Game Parlays

Same Game Parlay bets have exploded in relevance and play frequency during sports betting’s eye-popping rise. It’s fantastic to have the ability to combine numerous bets from one game for a higher payout.

You also have a number of choices, such as player props, point spreads, over-under, and moneylines.

It’s a chance for you to create correlated plays, which makes the parlay easier to hit.

For example, if you take Patrick Mahomes Over 2.5 Passing Touchdowns and Travis Kelce Anytime Touchdown, you have a wager that can hit on one play — a Mahomes TD pass to Kelce.

Combining multiple events such as this is a fantastic way to get extra value on your same game parlays, and allows you to predict and capitalize on the way you think a game will go. However, it’s important to remember that sportsbooks recognize that correlation gives you a higher win probability, so the odds are adjusted to reflect this edge.

Same Game Parlays with uncorrelated outcomes will have better odds than those with strong correlations. Furthermore, if you make two or more picks with a negative correlation, that will have higher odds.

For example, if I took the Chiefs Under 24.5 Points but Mahomes Over 300.5 Passing Yards, that would be contradictory. As it’s likely that Mahomes had a disappointing game if Kansas City went below their team total.

However, it’s still possible, so you can try to use these negative correlations to your advantage at times.

Same Game Parlay Rules

A few central rules and practices to think about with Same Game Parlays include:

  • If any selection within a Same Game Parlay is void under Fanatics General or Sport-Specific Rules, the remaining selections will be used to determine the outcome of the wager and the odds will be changed to reflect the new price.
  • You can combine Same Game Parlays from multiple games which is known as a Same Game Parlay Stack.
  • If one player doesn’t suit up, your prop is voided, but the Same Game Parlay will remain active, just repriced.
  • Some picks can’t be combined (i.e. if they don’t increase your odds).

Round Robin Fanatics Parlays

A round-robin parlay allows the customer to place a series of wagers on two or more selections, from a greater amount of overall selections.

For example, a customer could place three parlays covering two selections.

Here’s an example using the NFL:

Let’s say that I bet on the Chiefs -3 (-110) + Chargers +3.5 (-110) + Rams -6.5 (-110)

Regular Parlay

$10 to win $60 at +600 odds

Round Robin

  • Chiefs -3 + Chargers +3.5: $10 to win $26
  • Chiefs -3 + Rams -6.5: $10 to win $26
  • Rams -6.5 + Chargers +3.5: $10 to win $26

Instead of wagering $10 to win $60, I’d be betting $30 to win $78.

The difference here is if I go two out of three, I’ll have staked $30 to win $52. In this case, instead of having a net loss of $10 on a traditional parlay, I’d have a profit of $22.

The hope here is that I don’t go winless because then I’d be losing my entire stake of $30.

Round Robins are good for minimizing your risk and maximizing your profit on parlays.

Fanatics Teasers

Teasers are essentially parlays of alternate spreads or totals. The goal here is to get yourself a more favorable number to increase your win probability.

This bet type is especially popular in the NFL, due to the sharpness of oddsmakers in setting the lines.

You can make 7, 10, and 14-point teasers in both the NFL and college football.

Here’s an example of a 7-point teaser: Let’s say on a given NFL Sunday the current lines are Eagles -7, Bills -10, and Cardinals +14. You would instead get those lines at Eagles PK + Bills -3 + Cardinals +21.

Teasers have fixed odds based on the number of points you’re shaving off your play, which is different than parlays, where odds can fluctuate. For example, the odds for an 8-point, 3-team teaser in basketball is -120.

If you want to make a teaser on Fanatics, just click three or more plays and select “Teaser" on your bet slip.

Teaser Rules

Teasers have similar rules to other parlays, but there are a few distinctions:

  • If one or both legs in a two-leg teaser are voided or settled as a push then the bet will be settled as a void.
  • If one or more legs in any other teaser bet are voided or settled as a push, the teaser will be recalculated and settled at the odds that were offered at the reduced number of legs. If the total legs are reduced to one or less the entire bet will be made void.

Fanatics Parlay Bets for NFL

There are several bet types that you can parlay with the NFL, such as:

  • Point Spreads
  • Moneylines
  • Totals
  • Player Specific Props
  • Game Specific Props
  • Team Specific Props

Super Bowl

The Super Bowl is the biggest sporting event of the year with tons of options to choose from, plus enticing Super Bowl bonuses - so it’s a great time to lay down a Same Game Parlay.

Choose some of your favorite props to go along with the total and moneyline or point spread. Try to make it fun and shoot for the moon for a big payday.

You’ll be able to parlay all of the bet types listed above. You may also be able to add novelty props like the color of Gatorade poured on the winning coach or the length of the national anthem.

Parlay Bet Strategies

These are a few important factors to consider when building your parlay:

  • Shop around different betting apps to find the best odds
  • Limit parlays to your best straight bets
  • Create parlays with multiple favorites to increase your odds with likely events
  • Be careful with your unit size on parlays due to the variance involved.
  • Focus on straight bets while sprinkling in parlays for big paydays
  • Combine correlated outcomes for Same Game Parlays while taking a risk by putting together contradictory plays for better payouts

How to Calculate Parlay Odds

Parlays are listed in American odds format, which includes positive and negative integers related to $100.

For example:

  • (-110) = Bet $110 to win $100, pay out $210
  • (+150) = $100 Bet wins $150, pay out $250

When you build your parlay, Fanatics will automatically calculate the odds for you on your bet slip. If you want to see the payout, just type in your stake.

If you’re interested in how American odds work, here’s an explanation:

Let’s say that I have a (+400) parlay of three legs:

  1. Divide 400 / 100 = 4
  2. Multiply 4 by your stake (i.e. $10)
  3. 4 x 10 = $40 win + your initial $10 bet
  4. Your total payout is $50.

The higher the odds on each selection, the better the payout on your parlay.

If you want a quick way to tabulate your payout on these fun multi-leg wagers, use our Parlay Calculator:

Why Are Parlays a Good Bet?

Parlays can be a good bet because:

  • Allow you to minimize your juice by combining favorites
  • Gives you the opportunity to hit a home run with longer odds
  • You can combine bets that are correlated in a single game, increasing your win probability

Can Parlays Be a Bad Bet?

There are a few cons to consider with parlays, such as:

  • They are harder to win because you need to hit each leg
  • Parlays can drain your bankroll due to their lower probability
  • You can suffer a bad beat when your parlay loses by only one leg
  • Sportsbooks collect a bigger hold percentage on parlays compared to straight bets

What Sports Are Available for Parlays?

As one of the most popular bet types, you’ll be able to place a parlay on nearly every sport where Fanatics offers straight bets:

  • NFL
  • MLB
  • NHL
  • NBA
  • Soccer
  • Tennis
  • Golf
  • MMA
  • and more!

Does Fanatics Have Bet Insurance on Parlays?

Bet insurance is often provided as a new-player offer to welcome them to the site. This is where your first bet is refunded if it loses, capped at a certain number. You can use this promo on parlays.

There is also a recurring promo that is offered, known as Parlay insurance. This is where you’re provided with a free bet up to a maximum if your pick loses by only one.

Although not currently Fanatics may offer parlay insurance as a promotion in the future. Check the terms and conditions to be fully aware of what is involved with these offers.


Lance Patton

Lance Patton is the Promotions Creator & Editor for The Game Day and also creates content for the NFL, college football, and college basketball. Before joining The Game Day, Lance did freelance work for a variety of sports betting websites as well as covering the Iowa Hawkeyes for FanSided.

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