Parlay bets are a very common bet in sports which links together two or more individual wagers and can only win if all the wagers in the parlay win. The benefit of a parlay is that there’s a much higher payout than placing each individual bet separately. If any bet in a parlay does not win the bet will loose. An example of a parlay is if you took three NFL teams such as the Browns -7, Bengals -4, and the Raiders +4. Usually on a three team parlay the bet will pay out 6 to 1, meaning that for every $100 dollars that you risk you will receive $600 dollars in return. If any of the listed teams in your parlay do not cover their spread listed the bet will not go through even if the remaining two teams cover their spreads.

     Parlay bets are usually not your best bet for the mere fact that the increasing odds make if very difficult for a bet to win and the house tends to have a little more juice inside its payouts. From a betters standpoint you are better off making straight wagers which give you the best odds win.