NFL Parlay betting is when you choose multiple games, totals, or props and combine them to create a higher payout for the wager. You would need to get each bet correct to win.
Once considered fun wagers or even ‘sucker bets,’ parlay betting is now considered a smarter way to bet on the favorite in some cases. Parlay betting is a form of football wagering where you pick two or more games on the same ticket and get a better payout.
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True parlay odds will vary slightly based on how much juice the sportsbook charges for a bet. But assuming you are paying a standard -110 commission (more on juice or vig here), the parlay payout chart below is pretty close.
The payout on a 2-game parlay is attractive if you are betting two huge favorites. That is better than 2-1 odds, which sometimes means NFL parlay betting is your best option to maximize your profit.
Games Payout
2 13/5
3 6/1
4 10/1
5 20/1
6 40/1
7 75/1
8 150/1
If any games are a push (or tie) in your parlay bet, then that game is removed from the ticket, and your parlay defaults to the next number. For example, if you bet a 4-game parlay and one football game at -6 ends 26-20, that game is a push. The parlay ticket becomes a 3-game parlay, and your resulting payout odds move down to 3-game parlay odds.
There are two schools of thought when it comes to football parlays bets. The first is to treat parlays as fun bets or lottery tickets – bet a bunch of games, parlay them together, make a small bet, and hope for the big payout. This theory doesn’t work very often because it seems tough enough to pick one game correctly, let alone four or five on the same ticket.
The second is to bet parlays with big football favorites. Bet the moneyline on two or three teams to win and get a 2-1 or 3-1 payout on your wager. If you can find two big favorites you like to win, it can be the best way to get extra value and profit from your NFL wager.
Whether going with a longshot four-teamer or combining two heavy favorites to lower your risk, parlays are an enjoyable part of the betting experience. At the same time, parlays can be difficult to win, so it’s important to make sure that you bet with a sportsbook that makes it easier for you.
This difficulty means you must accept losing a fair share of parlays because this is the likely outcome. To balance this, you might opt for a couple of parlays with heavy favorites to offset your losses from your longshot parlays. It’s a good idea to diversify your portfolio with your parlay bets. This means that you should combine longshot parlays with your favorite parlays.
The main benefit of parlay betting is that it can lead to big payouts. The NFL has a short season of 17 weeks, making it even more appealing to wager on a parlay to maximize your earnings. The NFL isn’t like the long grind of the 162-game season where you can slowly build your bankroll with straight bets. Instead, it is a sprint, not a marathon, which is why parlays align well with the NFL.
NFL parlay betting is best used through online sportsbooks. This method works because you can do it on your phone while on the run. Also, you can bet within the comfort of your own home.
It’s quick and easy to deposit money, and your payout is immediately put into your account following the result of your parlay. This is much more convenient than going to the casino, making your parlay, returning to the sportsbook when you won, and collecting your money.
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