Parlays are a signature piece of sports betting.
Combining multiple outcomes in a single wager is a mainstay in the sports-gambling landscape. Bettors routinely craft what is, in their mind, the perfect parlay then put it to the gambling gods to see if it passes.
The SI Sportsbook, founded in a partnership between the legendary Sports Illustrated magazine brand and renowned British online sportsbook 888 Sports, is a great option for placing parlay bets. SI will offer boosted props for games or let bettors choose their own multi-leg single bets in the handful of states in which the sportsbook operates.
If you’re nervous about parlay betting, or haven’t used the SI Online Sportsbook, don’t worry. We’re here to help. Here’s a complete guide to parlay betting via Sports Illustrated.
How to Bet Parlays on SI Sportsbook
Step 1: Create an Account or Sign In
If you don’t have an SI Sportsbook account, you’ll need to get one. To sign up, click through the “Get Bonus" link at the page above or on our SI Sportsbook review page then add any necessary promo code to unlock its best new-user offer.
Keep in mind that any sensitive information is secure and used only to affirm your age and identity.
Step 2: Deposit
Put in your money to begin playing. Keep in mind that e-wallets, such as PayPal, or online-bank transfers are a far more effective deposit method vs credit cards since credit-card deposits come with a cash advance fee, and sportsbooks don’t let bettors withdraw via credit.
Step 3: Enter Parlay Leg No. 1
Consult the SI Sportsbook’s vast array of betting options and come up with the first leg of your parlay. Add it to your bet slip.
Step 4: Add Subsequent Legs
Add any additional legs you wish to to your bet slip.
Step 5: Place Bet
Enter the amount you wish to bet in the space that says “Parlay." Tap or click “Place bet" and root for each leg to hit so your wager is successful.
What Is a Traditional Parlay?
A traditional parlay is a wager with more than one leg that requires each leg to be successful in order to hit. Traditional parlays tend to center around moneylines, spreads or totals (over/unders) in multiple games.
Because every leg must be successful for the wager to be pay out, parlays carry longer odds than straight bets like a moneyline or spread wager.
Sports Illustrated Parlay Rules
Because parlays are more complex than straight wagers, SI has set a few ground rules for parlay betting. For example:
- Pushes: A push is when a wager ties. In parlay betting, if one leg is a push then that wager is voided and the parlay is reduced by one leg. Odds will shift as well.
- Early Cash Out: SI will enable bettors to cash out wagers like parlays early. Bettors will either be allowed to cash out for a slight profit or loss based on the likelihood of their parlay to hit.
SI Sportsbook Single Game Parlays
The SI Sportsbook enables bettors to place multi-leg wagers on individual sporting events, known on its site as a single-game parlay. Single-game parlays have grown in popularity since FanDuel invented the practice in 2018, and SI curates boosted SGPs while also encouraging bettors to customize their own for games.
In a customized SGP, bettors might choose to combine available markets such as the Detroit Lions moneyline, under 47.5 points and Jared Goff to throw for over 1.5 touchdowns. That is a potential single-game parlay to wager for a hypothetical Lions game.
Single Game Parlay Rules
SI has some limitations in terms of custom SGPs. Bettors are confined to NFL, MLB and NBA games. However it will often give users the option to wager on curated single-game parlays with boosted odds.
Early cash out is not an option for SGPs since the bets are live from the minute the game is on and will be settled when the game or match is decided. Pushes or void rules are the same with SGPs, with any ties resulting in a one-leg parlay reduction.
SI Sportsbook Round Robin Parlays
Round robin parlays are among the most confusing wagers to new and novice bettors, but the premise isn’t that off-base. In a round-robin parlay, sportsbooks invite users to create multi-leg wagers that pay out if only a few of the bets are successful, in exchange for a larger bet stake.
For instance, if you wanted to wager on the Lions, Denver Broncos and Washington Commanders to each win in a hypothetical NFL week, you could choose to include each to win in a round robin.
If the Lions and Broncos won, but the Commanders lost, you would win one of the three two-leg parlays. If the Broncos and Commanders won, but the Lions fell, you would win a two-leg parlay too. If they all won, you’d earn a huge payout since you would’ve successfully hit three two-leg parlays.
The main deterrent to round-robin betting is the fact you must put up the stake associated with placing that wager.
So in the three-leg round robin referenced, you’d be required to put out 3x your initial stake to cover the three multi-leg wagers.
Round Robin Rules
Round robins can have some crazy rules since they are among the most complex parlay wagers. As referenced above, the stake is dependent on how many wagers you wish to make — four two-leg outcomes, a double, carry a 4x stake, where a Yankee, which is 11 bets in four outcomes, carries an 11x stake. Some round robins, like a Canadian (26 bets), a Heinz (57 outcomes) or a Double Heinz (120) can have have extraordinary payment requirements and corresponding payouts too.
If any of the legs in any of the round robins push then the bet is reduced by any amount of legs in which that wager was included and the odds will change too.
SI Sportsbook Teasers
Teasers are when a bettor moves a total or spread to make it more favorable for gambling, and in parlay teasers traditionally every bet must move by the same amount.
As in all other varieties of parlays, every wager must be successful in order for a teaser to hit. SI Sportsbook invites bettors to create their own teasers, with custom spreads, by using the website’s sliding scale of either totals or point spreads to move the number within a few points of the pre-determined total.
Teasing spreads and totals in parlay betting is integral since expecting multiple -110 wagers to hit is almost impossible. Bettors should take every advantage they can get, and teasing, or creating a teaser, is one of the best ways to get an enhanced edge.
SI doesn’t have too many teaser rules since bettors are essentially tasked with dreaming up their own teased parlays. However, if there is a push, again the sportsbook terminology for a bet that finishes as a tie, that leg will be dropped and odds will shift accordingly.
SI Sportsbook Parlay Bets for NFL
SI is renowned for its coverage of the NFL, and if you’re in a state where the Sports Illustrated Online Sportsbook operates, it is a great option for football betting. Sifting through the SI sportsbook’s user-friendly interface is simple, and parlay betting is a breeze, with multi-leg offerings as well as easy-to-place round robins at your disposal every week.
The best way to place parlay bets for football is to place your wagers on Saturday night or Sunday morning — or Thursday/Monday mornings ahead of those days’ primetime games — especially if you are dying to place a single-game parlay since that is when the most prop options are available to include.
The Super Bowl is like Christmas for sports bettors, and the SI Online Sportsbook makes single-game parlay betting on the big game a breeze with props and teasers, as well as moneyline and spread bets. Plus, bettors may combine futures wagers, like picking a team from each conference to reach the Super Bowl, in a parlay bet.
Bettors who may not want to place parlays can also wager on year-round futures like which team will win the NFL championship or for teams to make the playoffs or win their respective divisions.
Parlay Bet Strategies
There is a level of superstition that goes into parlay betting, since hitting a multi-leg wager is as much a matter of luck as it is dedicating time and energy into research. When a parlay bet goes awry it can feel personal, particularly if some insane outcome causes your wager to hit, or not hit for that matter.
Still, the best strategy is to do your homework. Consider all factors, like trends, the weather, injuries and even the venue. We at The Game Day produce loads of content designed at giving bettors an increased edge, which is available to anyone interested in perusing.
Try not to go crazy. The more legs, the more the possibility of being completely wrong, especially in a heartbreaking fashion. There’s a reason why eight-leg parlays carry +2000 odds or longer, even when they feature extremely large favorites. Even a -400 favorite will lose, especially in a sport like baseball where strange things are known to happen.
Tease smartly too. Stay within common numbers, especially in a sport like football where teams add to their totals in threes and sevens. If you’re trying to OT-proof a game, tease the favorite to cover 5.5 instead of 6.5. If you think an underdog can keep it close, tease the spread to 3.5 instead of 2.5.
Chase value and remember to bet the wagers you love. You don’t want to have your expertly crafted parlay done in by a wager you weren’t sure about because one of your buddies convinced you to throw it in. That’ll lead to a lost bet and potentially a lost friendship as well.
Parlay Betting for Beginners
Learn by doing. That’s the best way to parlay bet. Sure, you’ll make mistakes, but as long as you’re having fun and learning what to do and how to smartly craft a parlay bet, it’ll end up working out.
The more you learn, the better you’ll get, and then you can start crafting those insanely large, long-odds parlays, if that is conducive to your betting style. But if you aren’t quite ready to place a bet, put together a parlay in your head and monitor how it would play out.
It may seem frustrating if you had a great multi-leg wager in your head and didn’t actually win any money, but you can take solace in the fact your instincts are good and put those good vibes out into betting more.
Try to find good promotions when parlay betting, like parlay-bet insurance that reimburses your qualified wager if it misses by exactly one leg. But also target value. If there is a bet that does not make sense, add it to your slip as a parlay leg. If there are a few that don’t seem to make sense include each as legs.
Be sure also to craft a story about what you believe will happen in a games. If you’re betting a SGP, you aren’t going to want to wager a team to cover a large spread and also bet on an under.
Wagering an opposing QB to throw for three TDs isn’t going to be conducive to a favorite to cover a full touchdown. The sportsbook already has an edge. Don’t give it more of one by including conflicting wagers.
But be sure to have fun. Betting, especially parlay-betting, is about enjoying the ride and adding a stake to the games we love already.
How to Calculate Parlay Odds?
Parlay odds can vary incredibly, depending on the odds associated with each wager.
Two bets at -110 will produce a +264 parlay, or one that pays out $264 profit on a $100 wager.
Two -200 wagers combined will create a +125 bet, or one that pays out $125 in profit on a $100 bet.
But given the vast array of parlaying options — including round robins and boosted parlays — there’s no shortage of potential odds associated with each parlay wager.
Fortunately, SI will give bettors the exact odds and payments for a parlay ahead of time, so users always know exactly what their payout will be.
Why Are Parlays a Good Bet?
They are fun! Plus, parlays are a great way to get more lucrative odds on bets that are likely to pan out. A -200 wager means a bettor will receive $0.50 profit for every $1 bet.
But two of those together equals a +125 bet, or $1.25 profit per dollar wagered. Sure, there’s more risk, but when gambling we have to take on risk in order for a greater reward.
Can Parlays Be a Bad Bet?
There’s a reason why those odds are so long even when dealing with outcomes that seem like better than a sure bet. Plus, if there are strange things that doom your outcome — like a blocked potential game-winning extra point or an ace starter that gets lit up against a terrible opponent — the loss can feel personal.
Plus, favorites have off nights and lose, which is why enormous-leg parlays, like 8, 10 or more, are generally not recommended, even when the moneyline odds are -300 or shorter. There’s almost guaranteed to be at least one leg that at best makes you sweat, or at worst dooms the whole thing.
What Sports Are Available for Parlays?
Every single one. Plus, if you want to combine multiple sports while parlay betting that is welcome too. For example, you can bet on the Commanders, Wizards and Maryland football to all win one weekend, or University of Michigan basketball, the Pistons and Red Wings to all reign in a single day.
Your options are only bound by your creativity and willingness to place the bet.
Is There Bet Insurance on Parlays?
Yes! Among the many promos the SI Sportsbook creates is parlay-bet insurance where if your qualifying parlay fails by exactly one leg, you will get a reimbursed stake back.