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NFL Parlay Betting Explained
With the global popularity of online sports betting rapidly on the rise, placing NFL parlay bets online has never been more popular. Almost every sportsbook offers NFL parlay betting which provides big returns with low risks. We just need to choose more than one winner.
What is NFL Parlay Betting?
An NFL parlay bet is a combination of multiple bets on one bet slip. Also referred to as an accumulator or a multiple, the odds of each game on a parlay are multiplied together and then multiplied again by our wager amount. NFL parlay bets give bettors much bigger payout odds than single-game bets. The potential rewards from a small stake, often make NFL parlay betting online a preferred option for recreational sports bettors.
Big payouts may be tempting, but parlays are not easy to win. Every game on the bet slip needs to win and if just one loses, we lose our wager.
In terms of an NFL parlay betting strategy, our bet can contain a combination of spreads, moneylines, totals, and/or prop bets. Each game on a parlay is often referred to as a leg. If there are five games on our NFL parlay bet, it could be called a five-leg parlay.
NFL parlay betting online is a great way to enjoy the game with low-stakes wagers that have the potential for large returns.
How to Place an NFL Parlay Bet
With the explosion of online sports betting, almost every sportsbook offers NFL markets, including NFL parlay betting online.
Sign up or log onto your betting site and find football markets and the NFL. To create NFL parlay bets online, most books simply allow you to click on the bets you want to wager which automatically adds them to your parlay. These bets are usually found at the side of the page in your bet slip. A bet slip will show you all the games you chose, the odds for them as singles and as a parlay, and the potential payout.
| Game | Spread | Total | Moneyline |
|---|---|---|---|
| Kansas City Chiefs | -6.5 (-120) | O 46.5 (-110) | -120 |
| Denver Broncos | +6.5 (+120) | U 46.5 (-110) | +110 |
| Philadelphia Eagles | -6.5 (-110) | O 46.5 (-110) | -120 |
| New York Giants | +6.5 (+110) | U 46.5 (-110) | +110 |
| Green Bay Packers | -6.5 (-110) | O 46.5 (-110) | -120 |
| Chicago Bears | +6.5 (+110) | U 46.5 (-110) | +110 |
For example, if our NFL parlay betting picks are the Chiefs to win (-120), the Giants vs Eagles game to go over 46.5 (-110), and the Packers -6.5 on the spread (-110) all on one bet slip, our parlay odds would be +560 (-120 x -110 x -110 = +560) or (1.83 x 1.90 x 1.90 = 6.60). Three different bets, multiplied together.
A $100 bet on this three-team parlay would profit us $560 if all three bets win. If any of these three games lose, we would lose our $100 wager.
$100 is the standard bar for bets using American odds, but NFL parlay bettors can bet any amount they feel comfortable with and is within their limits.
Check out our handy betting odds calculator which shows us parlay odds and possible payout amounts.
Want to Learn More About NFL Betting?
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NFL Parlays Explained
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NFL Parlay FAQs
Are parlays a good bet?
Parlay bets are not the easiest to win and sportsbooks love when we place them because of their low winning probability. NFL parlay betting tips help increase our odds of winning, but at the end of the day, the appeal comes from betting a little to win a lot.
How does a parlay bet pay out?
Our bet will pay out only if all our NFL parlay betting picks win. The payout is calculated by multiplying our wager by the parlay odds. Remember, the parlay odds are each games’ or outcome’s odds multiplied together.
How many teams can you parlay?
A parlay must contain at least two bets. Although there is no official upper limit, some sportsbooks will have a maximum as to how many games (or legs) we can add to a parlay bet slip – this is usually 12. But a parlay, by definition, is a bet with two or more different wagers in a single bet.
How to calculate parlay odds?
Most books show us the final parlay odds in the bet slip. Calculating the odds by ourselves is easy with decimal odds as each bet is multiplied together to give us our final parlay odds (ex: 1.9 x 1.9 x 1.9 = 6.86 odds). You can also use out bet calculator here.
Can you parlay NFL prop bets?
Yes, although not every sportsbook allows us to parlay prop bets from different games, but most of the respectable books offer this type of NFL parlay betting. Some of the newer sportsbooks even offer NFL same-game parlays where we can play multiple prop bets from a single game.
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