Parlay Betting 101 – Everything a New Bettor should Know

A parlay is a bet that can be perfected with practice. Below you can read everything you need to know before you start betting.

What is Parlay

featured images Parlay Betting 101 Everything a New Bettor should Know What is Parlay - Parlay Betting 101 - Everything a New Bettor should Know

A parlay is a bet in which several bets are made at the same time. To win a parlay you must win all the individual bets included.

How it Works

If you make a bet that the Red Birds, the Green Crocodiles, and the Brown Bears will win. If all three wins, you get a much larger payout than if you bet individually. If any of those teams lose, you lose the entire betting card.

There’s an exception called a push. It’s called a push for a draw. If one of the matches ends in a tie, it is removed from the parlay.

If the Green Crocodiles tie, it automatically becomes a two-bet parlay. If the Red Birds and Brown Bears win, the bet is paid out as a two-team parlay. The payout is lower if all three won, but there’s no doubt that it’s better than nothing.

Types of Parlay

Over / Under

These are bets made on the total points that will be scored in any game by the two teams. The line, established by the sportsbook, is the number on which the decision will be based.

If you believe that the final result is below or above that line, you will win the bet. This type of bet allows you to place a large number of bets on the same game.

Point Spreads

The point spread consists of giving points to the underdog team to balance the bet. In this way, the bettors will have the same probability of winning.


With a teaser bet, you can move the spread of points to your advantage. You’ll receive less money if you win, but the chances of winning, in general, are higher. You could narrow the line and then bet the total, or you could also bet below by moving the over/under part.


Pleasers are usually more complicated. If you’re a beginner, it’s best not to try it yet. If your team selections are correct, you win the bet. But the line-dot differentials are moving against you. This makes it harder for your choices to be correct. Because it’s so complicated, it tends to be the least used by everyone.


This bet is based directly on the winner and the loser. Here, if you bet the favored team’s line, the payout won’t be as high as betting for the underdog. It is possible to mix line bets with points bets on a single parlay card.

However, it is not possible to mix them with teaser and pleaser bets. If in one of the cards the bet is teaser/pleaser, all of them must be like that.

Remember to study these concepts very well. Don’t practice with real money before making a big bet. This will help you to perfect your strategy to be able to bet and win.