NFL parlay betting is one of the most popular bets you can make in the US. It combines the most popular sport in the country with a betting style that allows for higher payouts. Bettors love parlays because it allows them to combine two or more bets to give them a higher reward on their wager.
Whether you’re going with a long-shot four-teamer or combining two heavy favorites to lower your risk, parlays are an enjoyable part of the betting experience. At the same time, parlays can be difficult to win, so it’s important to make sure that you bet with a sportsbook that makes it easier for you.
How NFL Parlay Betting Works
NFL parlay betting is when you choose multiple games, totals, or props and combine them to create a higher payout for the wager. You would need to get each wager correct in order to win.
For example, I could parlay the Cowboys +3.5 with the Giants +7.5. If both bets hit, I would win my parlay. You can also choose the side and total in the same game. For instance, I could parlay the Chiefs -9.5 with Over 51 points.
The more bets that you include in your parlay, the higher your payout. For example, if I include two bets at -110 odds in my parlay, I would receive a +264 payout. That means if I bet $100, I would win $264.
On the other hand, if I included six bets at -110 odds in my parlay, I would receive a +4700 payout, meaning that I would win $4700 off of a $100 bet. Obviously, it’s more difficult to win this type of parlay because you need to get six bets correct, so the odds reflect this challenge.
Parlay payouts are also calculated based on the odds of each specific game. For instance, if you parlay two games where teams are +200 underdogs, your payout would be +800. That means that if you bet $100 on this parlay, you would receive $800 if you won.
You might also choose to bet two heavy favorites in a parlay in order to minimize your potential loss. For example, if you parlay two games where teams are -200 favorites, your payout would be +125. That means that if you bet $100 on this parlay, you would receive $125 if you won.
Parlays are so appealing because you can maximize your earnings if you’re able to hit, especially if it’s on a larger parlay. With that said, it’s important to understand the difficulty with such a bet.
This means that you need to be comfortable with losing a fair share of parlays because this is the likely outcome. In order to balance this, you might opt for a couple of parlays with heavy favorites to offset your losses from your long-shot parlays.
Best NFL Parlay Betting Sites
DraftKings Sportsbook
DraftKings Sportsbook has an accessible interface that creates a user-friendly experience. This is a reputable operator that is one of the most trusted platforms in this space
There is an assortment of choices at DraftKings, including alternate lines on player props, which work great for parlays because they give you a chance at securing a high payout.
Be sure to include DraftKings in your selection of online sportsbooks, especially if you enjoy parlay wagering.
Caesars Sportsbook
Caesars Sportsbook purchased the popular British online sportsbook William Hill in August 2021 and has taken the online sports gambling space by storm with an aggressive marketing push.
The site is an official partner of the NFL and offers betting on every NFL game from the preseason through the Super Bowl, with elite odds and no shortage of parlaying options.
Plus, every wager with Caesars, win or lose, comes with Caesars Rewards, the company’s loyalty program that gives hotel and restaurant credits, free bets and much more.
FanDuel Sportsbook
FanDuel Sportsbook is another great option because not only is it among the most popular sites in the industry, but it’s also easy to navigate, so you’ll never have trouble finding your preferred wager.
If you’re into parlays, you’ll be able to combine several bet types, including futures wagers, which is an option not always offered on other platforms.
In addition to this, you’ll find a number of useful promotions at FanDuel.
bet365 Sportsbook
bet365 Sportsbook stands out with its parlay betting because there are so many options to choose from, including a robust selection of player props.
They also have one of the most expansive live betting platforms, where you can even create parlays on live wagers.
Features such as this help bet365 stand out from the competition.
BetMGM Sportsbook
BetMGM Sportsbook carries the reputable MGM brand that helps you feel at ease in using this platform. There are several banking methods to make the payment process efficient for you, which is a major positive here.
You’ll also find a number of promotions to enhance the value on your bets, including parlay insurance.
BetMGM has become one of the top online sportsbooks in the country because of how easy it is to use, so be sure to take advantage.
We break it down even further if you are interested in more parlay betting sites.
How To Pick the Best NFL Parlay Betting Sites
- Welcome Bonus: It’s great when a sportsbook matches your deposit. You can then use these funds on a parlay and try to hit big on a parlay.
- Parlay Insurance: Parlay Insurance is a great promotion that gives you some money back if you get most of your parlay correct.
- Props Parlays: Player Props are great for parlays because they are a bit easier to project than single-game results. This means that you can really maximize your earnings with a parlay of prop bets. It’s best if your sportsbook allows you to choose alternate lines for higher payouts.
- Cash-out: Allows you to cash out when you win one or more games to secure some winnings. This is best if you hit multiple games on your parlay.
NFL Parlay Betting Promotions
Parlay Bonus: You can get a bonus between five and 70 percent of your winnings, depending on how many selections. If you hit on a two-game parlay, you’ll receive a five percent bonus, but if you hit on a 14+ game parlay, you receive a 70% bonus.
Parlay Insurance: Provides up to $25 if you hit all bets except for one. This is helpful because it gives you some money back for a close call.
Best NFL Parlay Bets
When choosing the best NFL parlay bets, I would make sure to focus on player props because these are the best types of wagers to make. Player props are a lot easier to project because we can heavily research the matchup. We can see how teams fare against certain positions.
For example, last season, the Texans were horrendous against the run. Opposing running backs routinely went off against them. In this case, I’d bet the over on the opposing team’s running back’s rushing yardage.
We can also project game script pretty easily, which helps with player props. For instance, if the Lions are +5.5 point underdogs in Kansas City, we can expect Jared Goff to air it out often to keep pace with the high-powered Chiefs offense.
This means that we should bet the over on props such as Jared Goff pass attempts. These are the benefits of player props. Be sure to take advantage of them and check out all of our NFL betting picks for more guidance.
NFL Same Game Parlays
What are NFL Same Game Parlays and how do they work?
Same Game Parlays are when you bet on the result, total, and props in the same game. For example, I can parlay the Titans -5.5 with the Over 47 points in the same game. I might also include the Over on Derrick Henry’s rushing yards.
This would be a highly correlated play because if the Titans win the game and play with a lead, there’s a good chance that Henry is getting his fair share of rushing yards due to the favorable game script.
Remember though, when you make a Same Game Parlay with a positive correlation, the payout will be lower. Sometimes it could be beneficial to incorporate negative correlation to try to have a higher return on investment.
An example of this could be betting the Under on rush attempts but Over on rushing yards for a running back. These two plays are contradictory, but they’re still possible to hit if the player has a highly efficient game.
How to Place an NFL Parlay Bet Online
- Select your potential bets, such as spread, totals, props, and more.
- Determine the amount of money that you will risk.
- Check the payout and see if it’s worth the parlay.
- Limit your parlays to six games to keep the difficulty at a reasonable level.
NFL Parlay Betting Strategy
The NFL season is a sprint with only 17-weeks for you to build your bankroll. This means that maximizing your earnings through parlays can be an optimal strategy.
It’s a good idea to diversify your portfolio with your parlay bets. In other words, you should combine longshot parlays with favorite parlays.
For instance, let’s say that I wanted to do a long-shot, five-team Fanatics parlay. This parlay includes Cowboys -3.5, Eagles +4.5, Chiefs -9.5, Broncos/Chargers OVER 47, and A.J. Brown OVER 80.5 Receiving Yards. This parlay would pay +2435, so I would put less money on it, let’s say $25, which would give me $608.75.
I could add a favorite parlay with something like Cowboys -200, Chiefs -1000, and Bills -450. This parlay would pay +100, so I would risk $100 on it to win $100. It’s a much more likely outcome, so there’s a good chance that I’d hit on this parlay. It would help offset any losses on my long-shot parlay. I’d have a good opportunity to be +$75 for the day in this scenario.
Benefits of NFL Parlay Betting Online
There are many different ways to bet on the NFL, but the main benefit of parlay betting is that it can lead to big payouts. The NFL has a short season of 17 weeks, so this makes it even more appealing to wager on a parlay to maximize your earnings.
This isn’t like the long grind of the 162-game season where you can slowly build your bankroll with straight bets. This is a sprint, not a marathon, which is why parlays align so well with the NFL.
NFL parlay betting is best used through online sportsbooks. This is because you can do it on your phone while on the run or within the comfort of your own home.
It’s quick and easy to deposit money and your payout is immediately put into your account following the result of your parlay. This is much more convenient than going to the casino, making your parlay, then returning to the sportsbook when you won and collecting your money.
Where Can I Legally NFL Parlay Bet Online?
- Arizona
- Colorado
- Connecticut
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maryland
- Massachusetts
- Michigan
- Nevada
- New Hampshire
- New Jersey
- New York
- Ohio
- Oregon
- Pennsylvania
- Rhode Island
- Tennessee
- Virginia
- Washington D.C.
- West Virginia
Choose More Than One NFL Parlay Betting Site
When making parlays, it’s important to check different websites to make sure you’re getting the best odds on your wager. Some websites might offer different odds. For instance, bet365 might have the Chiefs at -7.5, but BetMGM might have them at -7.
That extra half point is huge in the NFL. If a team is winning by more than 7, there’s a good chance that they’re winning by 10 or more. This is also true for -3.5 and -10.5 point spreads. If a team is up by more than 3, there’s a chance that it isn’t 4. Be sure to monitor the differences among each sportsbook.
