WynnBet is a user-friendly operator that provides valuable promotions, diverse betting markets, and a helpful signup bonus within an accessible interface. It was created by casino resort giant Wynn in 2020.
One of the top bet types that you’ll find here is parlays, where you put together two or more wagers for an opportunity to win more money. You can include moneylines, totals, spreads, and props within parlays.
In this article, you’ll learn all there is to know about parlays, including variations like teasers and round robins. There will also be strategies provided to guide you toward success.
How to Bet Parlays on WynnBet
Step 1: Create an Account or Sign In
Check out our WynnBet sportsbook review to learn about everything involved at this site. Click the “Get Bonus" link to direct you to the landing page and unlock the best welcome bonus. Provide your personal information while signing up for an account. This includes name, address, email, and more.
Step 2: Deposit Funds
Now you’re ready to fund your account. Select “Deposit" to open up the various banking methods available here, which includes ACH among many other options. Your balance will immediately reflect the deposit, so you’ll be ready to roll.
Step 3: Navigate the Betting Markets
Decide on your desired betting market by selecting that sport that you prefer. From there, you’ll see the upcoming games, which includes traditional wager types like moneylines, spreads, and totals. If you want to parlay props, you’ll need to click “More Wagers."
Step 4: Add to Your Bet Slip
You can click the wagers to add it to your bet slip, which will create a parlay. WynnBet will show your potential payout, which depends on your stake along with the odds. When you’re ready, “Place Bet."
Step 5: Same Game Parlay
If you want to create a Same Game Parlay, which includes multiple picks from the same event, click “More Wagers." Keep in mind that some bets are unable to be used in a Same Game Parlay.
What Is a Traditional Parlay?
Traditional parlays involve multiple wagers from different games. They don’t have to be from the same sport. You need at least two for it to be considered a parlay. You’re able to include moneylines, spreads, totals, and props.
Parlays require you to win every pick for you to hit. This means that even if you only lose one, it’s still a miss. Parlays offer a greater return on investment for this reason — they have a lower win probability.
Here’s an example:
- Chargers +4.5 (-110)
- Yankees/Red Sox Over 8.5 Runs (-110)
- Jets/Browns Under 40 Total Points (-110)
This parlay has +600 odds, which means that you’ll 6x your stake if it wins. In other words, it would pay $600 on a $100 wager.
WynnBet Parlay Rules
Remember these rules when wagering on parlays at WynnBet:
- If one pick in the parlay is void (due to a “push" or tie, such as in a spread or totals bet), that leg will be removed and the odds will be recalculated.
- Players must suit up for their props to have action.
WynnBet Same Game Parlays
Same Game Parlays are all the rage in the sports betting industry because they allow you to combine multiple wagers from the same event. You can correlate your plays to increase your win probability.
In order to create a Same Game Parlay at WynnBet, you’ll need to click “More Wagers," which is listed on your desired game.
Here’s an example:
- San Diego Padres Moneyline (+142)
- Mike Clevinger Over 4.5 Strikeouts (-105)
This parlay has +372 odds because of the correlation. If Clevinger gets five or more strikeouts, there’s a good chance that he’s gone at least six innings, which means he’s probably pitching well. If Clevinger does well, San Diego has a good chance of winning.
WynnBet provides you with great odds on Same Game Parlays. Other sportsbooks reduce the payouts on correlated outcomes, but that’s not the case at WynnBet.
Same Game Parlay Rules
Same Game Parlays have the same rules as their traditional versions. The only difference here is that you may notice that some games are not eligible for this bet type. This is usually the case in NHL betting markets.
WynnBet Round Robins
Round robins are a way of providing insurance in case your parlay narrowly misses. Basically, you’re looking to still earn a profit, even if you get only one leg wrong.
Imagine I wanted to create this three-teamer:
- Bengals -7.5
- Steelers +1.5
- 49ers -10
This parlay has +600 odds, meaning it would pay $600 on a $100 wager. In this case, I’m either winning $600 or losing $100.
Alternatively, I could go with three separate two-team parlays:
- Bengals -7.5/Steelers +1.5
- Bengals -7.5/49ers -10
- Steelers +1.5/49ers -10
Each of these parlays would have +250 odds. If I put $100 on each, I’d win $250. This means that in total, I’d be risking $300 to win $750 if I get all three correct.
There are three scenarios here:
3-for-3 games: Win $750
2-for-3 games: Win $50
1-for-3 games: Lose $300
0-for-3 games: Lose $300
This is a good way to at least win some money if you get only one wrong.
Round Robin Rules
WynnBet has the same rules for round robins as for traditional parlays.
Teasers are where you can change a point spread or total to a more favorable number. The idea here is to increase your win probability. This bet type has a lower payout than parlays, with fixed instead of variable odds.
Teasers are popular with football and basketball, where scoring is much more frequent. They usually range between 6 to 10 points.
Here’s an example of a 6-point, 3-team teaser that offers a +180 payout:
- Broncos -10 to -4
- Bengals -7.5 to -1.5
- Jets +6 to +12
The original spreads would pay +600 odds if used in a traditional parlay. Here we get a reduced price because it’s a more appealing number.
The difference to note with teasers is the fixed odds. Every three team, six-point teaser will pay the same. The payouts will change when you add more teams.
WynnBet NFL Parlays
The NFL works well with parlays because there are so many games going on at the same time. This gives you an opportunity to include your favorite bet types, including player props.
My preferred way to attack this market is to focus on player props because they’re the easiest to project. You can also add in underdog parlays to try to hit a big payout. Combining heavy favorites is also smart, as it can act as insurance for your longshot parlays.
You may also include Same Game Parlays to combine correlated picks. Round robins and teasers are good ways to play it safe as well.
The Super Bowl is the ideal event for Same Game Parlays, since it’s the only game on the slate. You want to target your favorite picks in the game, particularly on player props.
For example, you may have combined the Rams moneyline with the Over on Cooper Kupp‘s receiving yards prop last year. These two plays align with each other because if the Rams won, it was likely because Kupp went off.
Parlay Bet Strategies
Here are some parlay bet strategies to guide you toward profitability:
- Put more money on safer parlays and fewer units on longshots.
- Try to limit the picks to five because each time you add more, your chances of winning get lower.
- Include a Same Game Parlay with correlated picks.
- Put your favorite picks into a parlay.
- Mix in a round robin and teaser to recoup some losses and act as insurance.
Parlay Betting for Beginners
Beginners to parlay betting should consider these tips:
- Practice money management — never risk too much on a parlay.
- Put less money on parlays compared to straight bets.
- Don’t put too many legs into your parlay.
- Take advantage of promotions, like Parlay Insurance.
- Keep track of your record to see how you’re doing.
- Shop around different sportsbooks to find the best line.
How to Calculate Parlay Odds
WynnBet will calculate the odds for you, which is based on the number of picks and the odds of each selection. Also, the more legs you include, the greater your payout.
WynnBet shows its odds in American format, which is in positive or negative numbers that relate to 100.
Here are three examples:
Parlay 1: Risk $100 (+400 odds)
- Divide 400 / 100 = 4
- Multiply 100 x 4 = 400
- Your payout is $400
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 (-140)
- Divide 140 / 100 = 1.4
- Multiply 1.4 x 100 = 150
- Risk $140 to win $100
Why Are Parlays a Good Bet?
Parlays are a good bet for the following reasons:
- You have a chance to hit a nice payout while risking fewer units.
- You can create Same Game Parlays with correlated picks.
- Combine multiple heavy favorites to reduce your risk.
- Use promotional free bets to shoot for the moon on a big payday.
Can Parlays Be a Bad Bet?
Be sure to consider these drawbacks with parlays:
- Parlays can really drain your bankroll over the long run if you make too many parlays, since they’re tough to win.
- If you make too many longshots, you’re essentially creating lottery tickets.
- Don’t risk too much of your bankroll on a single parlay.
- You don’t win any money if you come close with only one incorrect pick.
What Sports Are Available for Parlays?
You can create parlays for these sports at WynnBet:
Is There Bet Insurance on Parlays?
Some sportsbooks offer a promo called Parlay Insurance, where you get back a Free Bet (usually around $10-$25) if your parlay loses by only one.
You may also be able to use your bet insurance signup bonus on parlays. This is where sportsbooks match your loss on your first bet up to a certain number, usually at $1,500.