What is a parlay bet?

A parlay is a bet that combines two or more single wagers into one bet, increasing the payout with each additional bet - the more bets added to the parlay, the higher the potential payout. However, all added bets must win in order for the parlay to win. If one selection in the parlay loses, the whole parlay loses. If a selection results in a push, it is removed from the parlay and the odds are re-calculated accordingly.

Parlay bet example:

SB_-_Parlay_example.png

In this case we have a parlay, which includes three selections:

  1. the Cowboys at +6,
  2. the Bengals at +3 and
  3. the Eagles at +3.5.

We need all three selections to win so our parlay can be considered winning. If the parlay wins, a $100 will get you a combined profit of $613. If any of the selections loses, the whole parlay is considered lost.

DraftKings also offers the option to make parlay bets for outcomes in the same game. Learn more about same game parlays (SGPs).

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