Welcome to our post, where we explore everything you should know, and more, about one of sports betting’s most popular wagers: The Parlay Bet.
Used commonly across the globe, the Parlay bet is also known as an Accumulator bet (or ‘Acca’ for short) in some parts of the world.
The term Parlay tends to be used more in North American betting, with accumulator or acca used more prevalently in the United Kingdom and other parts of the world.
However, regardless of terminology, both parlay and accumulator bets refer to the same thing. You can place this type of bets on most of the betting sites on the market.
So let’s explore exactly what that is!
What is a Parlay Bet?
Although there are different types of Parlay bets (see the section on Parlay Bet Types below) a standard parlay bet is a wager that contains multiple selections.
The key factor for a standard accumulator is that all the selections on the bet must win, in order for the bet to be paid out.
Parlay bets range from two-selection bets (doubles) and three-selection bets (trebles) and then are named after the number of selections made on the bet followed by the suffix -fold.
So for example a parlay bet of six selections, would be a six-fold parlay (or accumulator).
Parlay Bet Types
Although a standard parlay is the most common form of parlay bet, there are others that can be utilised on betitng sites. Some of the more common types of parlay bet include:
- Standard Parlay
A standard parlay is a multiple-selection bet where every selection on the bet slip must win. In a standard parlay customers usually select from the most common betting markets on a sport to formulate their bet. For example, backing horses to win their race, or a football team to win, lose or draw a match.
- Round Robin Parlay
A Round Robin Parlay breaks up a standard parlay into smaller ‘mini’ parlay bets which means that if one or more of your selections doesn’t win, you can still generate a return by landing winners with your other bets. For example, on a three-selection Round Robin parlay, customers could back selections A&B, B&C and A&C to win, alongside the standard parlay of A, B and C winning.
- Teaser Parlay
A Teaser Parlay is available for sports such as American Football where punters will often bet on a spread of points for a game. The spread is intended to make selecting one or other of the teams as close to even chance as possible. With a Teaser Parlay, punters can adjust the spread on two of these bets. This increases their chances of success with these two selections, but to compensate for that the bookmaker will offer reduced odds on the parlay bet being successful.
- Same Game Parlay
This Parlay bet allows customers to combine a number of bets on the same sporting event into a viable accumulator. This option often includes markets that are not available to be used on a standard parlay bet.
How Does a Parlay Bet Work?
A parlay bet works by the initial stake made on the bet being multiplied in size by successive winning selections to produce a higher value return than you would get on a single bet.
For example, if a punter backs three selections as three £10 single bets at odds of 2.00, 5.00 and 2.30. Then they would win £20, £50 and £23 if the bets are successful. If all three single selections win, that would be a £30 stake for a return of £93.
However, in a parlay bet, only one stake is required, and the winnings from one bet are placed on the outcome of another.
So, in an accumulator bet of £10, you would win £20 for the first selection. However, you would then have £20 going on the second selection at odds of 5.00, which would see the stake on the third selection increase to £100 at odds of 2.30. That would mean a potential return of £230 for just a £10 stake.
However, if any one of the three selections loses with a standard, same game or teaser parlay bet, then the bet is a loser.
How Do I Calculate Parlay Odds?
A parlay bet works by multiplying the odds of all selections on the bet slip to give a potential odds value for that bet.
For example, if a punter backed a treble bet with selections of odds of 2.00, 2.30 and 5.00. Then, the total odds for the bet would be:
2.00 x 2.30 x 5.00 = 23.00. (22/1 in fractional odds).
So if the punter placed a £10 bet on this trio of selections in a standard accumulator, then they would win £230 in total returns.
Here you can see the appeal of a Parlay bet. The fact that the odds are multiplied means that your initial stake can accumulate as each bet wins, offering you a great example of a low-risk/high-reward betting option.
Teaser Parlay bets work slightly differently by combining the odds of the different combinations of selections. However, for Teaser Bets, you require multiple unit stakes for each bet made as part of the parlay.
What are the Risks of Parlay Betting, and what are the Potential Rewards?
Parlay betting is so popular because you only need to place one stake for most parlays. That makes it a cheaper option than other multiple-selection bets. The main risk is losing your stake if just one of your selections is not a winner.
However, the low-risk/high-reward nature of parlay betting makes it hugely popular.
Five Top Tips For Better Parlay Betting
- Always bet on markets and events you have good knowledge about.
- Don’t expect to win. Parlay bets are hard to land. Having realistic expectations is important.
- Mix short-priced favourites with viable longer-odds selections for added value.
- Research your betting selections before placing them as a parlay bet.
- Always bet only what you can afford to lose.
Parlays are very popular and a simple bet to make. Follow these handy guidelines, and you will perfect your Parlay betting in no time!
