Parlay betting is one of the most popular ways to wager on sports, especially in the age of online gambling.
With online sports betting available in more than a dozen states, it’s never been easier to get great payouts by combining multiple betting markets into one lucrative wager.
With FOX Bet, online gamblers can create their own custom parlays or choose from a plethora of boosted ones. It is a great option for legal parlay betting if you’re in one of the four states in which FOX Bet operates.
But if you’re nervous or anxious about online parlay betting, fear not. We’re here to help.
How to Bet Parlays on FOX Bet
Step 1: Create an Account or Sign In
Create an account. Remember all sensitive information is secure and used only to affirm your identity. Click on one of our Get Bonus buttons to activate the best offer or check out our Fox Bet review and click on one of the buttons to activate the welcome bonus.
If you have an account already, log in.
Step 2: Deposit
Enter your funds. Keep in mind that credit-card transactions typically come with a cash-advance fee, and withdrawing via a credit card is generally not allowed. Otherwise, the method with which you enter funds is usually the means by which you receive them.
Step 3: Find Your First Bet
Peruse betting markets and determine which wager you wish to make as your first leg.
Step 4: Add Subsequent Legs
Find the other legs you wish to add to fill out your parlay. You may wager parlays across multiple sports and leagues if you wish.
Step 5: Place Your Bet
Once you add all of your betting legs, enter the amount you wish to wager. Tap “place bet" and root for your parlay to hit!
What Is a Traditional Parlay?
A traditional parlay is any wager where a bettor combines two-or-more outcomes from different games. Typically, traditional parlays consist of moneylines, spreads or over-unders. In a traditional parlay, each outcome must be successful in order for the whole wager to hit.
Traditional parlays are usually good for getting a more lucrative payout on two-or-more games that have really short odds. For instance, if you love the Buffalo Bills to defeat the Miami Dolphins, but Buffalo is a -300 moneyline favorite, you can add the Chicago Bears to defeat the Detroit Lions at -150, and the two-leg parlay is +122, or $122 profit on a $100 wager.
FOX Bet Parlay Rules
FOX Bet has a few rules about placing parlay bets, including:
- Voids: In the event of a push, or draw in a two-way bet, that leg of the parlay will be cancelled and the odds will be adjusted accordingly.
- Cash Out: Bettors may cash out of parlay wagers early, for either a modest profit or loss, before the full parlay is completed. However, if a bettor chooses a FOX Bet specially boosted parlay, cashing out is not allowed.
- Bonus: FOX Bet offers a cash bonus on certain qualifying parlays. If you place a four-or-more leg wager where each leg is -200 or longer, the sportsbook will give you a bonus if it hits.
FOX Bet Same Game Parlays
A same-game parlay might seem self-explanatory. It’s when a sportsbook enables users to combine multiple markets, typically outcomes and props, from one game.
FOX Bet will curate and offer boosted-odds same-game parlays or will let bettors choose their own. Same-game parlays are a great option for single-game nights, or marquee events like the World Series, Super Bowl or NBA Finals, although bettors can place an SGPs on most every game each day.
For example, if you’re a Philadelphia Eagles fan and you want to bet a same-game parlay in their game against the Dallas Cowboys, you could wager on Philadelphia to win, the over or under in the total and for Jalen Hurts to throw for two-or-more touchdowns. If each market hits, you’ll be a winner!
FOX Bet Same Game Parlay Rules
As with most parlays, in a same-game parlay if one leg pushes then that leg is voided and the wager gets reduced by one leg. Most boosted parlays will not have legs push, since FOX Bet will curate wagers that are incapable of pushing.
Same as a traditional parlay, early cashouts are not available in boosted same-game parlays.
Fox Bet Round Robin Parlays
Round Robin parlays are three-or-more leg wagers that will hit if at least two legs are successful. In a round-robin parlay, bettors essentially are placing multiple two-leg parlays, and if they all hit, it cashes out more since there are longer odds on three two-leg parlays instead of a three-leg parlay.
For example, if you are interested in placing a round-robin parlay where the Chicago Bears, Philadelphia Eagles and Denver Broncos all win, you’d be placing three two-leg parlays on the Bears and Eagles, Eagles and Broncos and Bears and Broncos to win. If any combination of those teams wins, you win.
FOX Bet will add up the full collection of round-robin wagers before you place your bet, meaning if you want to place a 10-leg, six-bet round robin, the sportsbook will give you the full odds for all of your wagers.
Round Robin Rules
- Stakes: The only major drawback about round-robin betting is bettors are required to place a 3x or 4x stake, depending on how many legs they want to make their round robin. If you are typically interested in betting $10 on a parlay, you’d be forced to wager $30 on the parlay listed above.
- Maxiumum Legs: Round robins may not have more than 10 legs.
Fox Bet Teasers
Teasers, or alternate spreads, are when a bettor creates a parlay full of multiple alternate spreads or totals. Bettors can typically buy or sell points and get more favorable numbers in exchange for shorter odds.
In a traditional teaser, bettors may buy six points for each leg of the wager, meaning if you’re trying to bet on the Denver Broncos (-6), Chicago Bears (+3) and Pittsburgh Steelers (-7) all to cover, the Broncos spread would move to pick ’em, the Bears would be +9 and the Steelers would be -1.
Or if you as a bettor wanted to buy six points in a total on those three games, and the total of the Broncos game was 47.5, the Bears is 42.5 and the Steelers is 46.5, the alternate over-under would be either 41.5 or 53.5 for Denver, 36.5 or 48.5 for Chicago and 40.5 or 52.5 with Pittsburgh.
Bettors may tease up or down as much as they want in a traditional teaser, or they can tease down individual spreads and totals as part of a parlay. For instance, if a bettor wanted to take the Bears and Broncos to each cover 3.5 points, he or she could do that in a two-leg parlay.
Teasers carry the same rules as traditional parlays. If there is a push, that leg is voided. The maximum number of legs is 10.
FOX Bet Parlay Bets for NFL
Betting on football with FOX Bet is a great supplement to consuming NFL games on the FOX Sports platform.
FOX Bet is a great option for NFL parlay bets, with a plethora of great betting markets and boosted picks curated by FOX Sports personalities. FOX Bet offers same-game parlays for every NFL game, which means you can combine betting markets for single games from the preseason to the Super Bowl.
Plus, there are alternate totals and spreads and teasers for every NFL game and a slew of props that are best served for both traditional and same-game parlay betting.
The Super Bowl is, well, the Super Bowl of the sports-betting calendar, and FOX Bet enables same-game parlays for the big game each February, same as it would for every NFL game from the preseason through the postseason.
Bettors can even parlay futures, such as which teams will reach the Super Bowl and more. Make sure to also check for any Super Bowl bonuses available.
Parlay Bet Strategies
Do your homework, and don’t be afraid to tease spreads and totals to have a better chance of winning. Nailing two outcomes that carry -110 odds is nearly impossible, especially in football where sportsbooks seem to have odds/spreads down to a science, let alone three, four or even more.
Research is integral. For instance, you aren’t going to want to have a same-game parlay that features an over receiving-yards leg for a receiver that may not play. You probably won’t want to bet the under in a game between the two highest-scoring teams in the league. You aren’t going to want to bet the over if there is snow, cold or a battle of great pitchers/defenses.
Betting sports is fun, but it’s more fun when we win. Trust your gut and do your homework, and you’ll never go wrong.
Parlay Betting for Beginners
Start small and go easy. Maybe don’t try that 10-leg parlay that has +34154 odds and stick with the two- or three-leg one that carries +200 odds. There will be ample time to ramp up your parlay-betting efforts as you become more comfortable both with the sportsbook and with online betting.
As stated above, be sure to do your homework. That way you won’t feel silly when you wagered over 50 points in a game between two elite defenses or in a game where there is a blizzard or driving rainstorm. Or if later on you realize other sportsbook options have better odds for the same bet.
But most importantly, have fun, and soon enough you’ll be able to dream up a successful eight-leg round-robin parlay or 10-leg teaser.
How to Calculate Parlay Odds?
Calculating parlay odds can be tricky, especially with teasers and alternate spreads and totals and of course since FOX Bet will boost odds as part of certain promotions. A two-leg parlay where each leg is -110 carries +264 odds.
But fortunately, FOX Bet will tell you exactly what your odds are before you place your wager so you’ll know exactly how much you stand to win if your bet hits.
Why Are Parlays a Good Bet?
Because they are a great way to get a better payout on wagers that are likely to hit. Plus, parlays are fun. There’s no feeling like watching the final leg of a three-leg parlay cash in and seeing the winnings enter your online account.
Can Parlays Be a Bad Bet?
Parlays carry longer odds than regular, straight wagers, which makes them inherently more risky. If you place a parlay bet of more than two legs, you’re almost guaranteed to sweat out at least one leg, even if the three legs had teams with -200 odds or shorter.
What Sports Are Available for Parlays?
All of them, and what’s more, bettors can combine wagers from multiple sports in one single parlay. A bettor in Pennsylvania could combine the 76ers, Flyers and Eagles to all in on one day or one in Colorado could combine the Broncos, Avalanche and Nuggets to all cover a spread.
Is There Bet Insurance on Parlays?
Sometimes! FOX Bet will periodically offer parlay insurance if one leg fails. Keep a lookout for this promotion and be sure to opt-in if necessary.