Each-WayĪn each-way bet consists of two bets of equal value. Also described as an “if bet”, a doubles bet takes the total return from a successful wager and automatically places it on the second betting option. It combines two selections into one bet for a two-team parlay. Here are the different types of parlay and round-robin bets you may see at parlay betting sites: DoubleĪ doubles bet is the simplest kind of parlay bet. Round-robin bets often have nicknames depending on the number of selections they involve. When making a round-robin bet, bettors are actually making multiple wagers of equal value on a series of different parlay bets. Every time a selection is added to a parlay, the number of possible combinations of bets that can be made from these selections increases.Ī round-robin bet allows bettors to cover all of these possible combinations through a series of smaller parlays made up from their list of selections. While any bet involving two or more selections qualifies as a parlay, there are several different types of parlay betting options. Even if only one selection in the parlay loses, the whole bet will be settled as a loss. In order for a parlay to be settled as a winner, all of the selections on the bet slip must be correct. This increases the odds and potential return of a single wager. When making a parlay bet, the odds of each selection are multiplied together. For bettors with a greater appetite for risk, parlays are a great way to boost their odds and increase their profits.Ī parlay bet combines two or more selections into a single bet. In the simplest terms, a parlay is when multiple bets are put together to generate a bigger payout. What is a progressive parlay in sports betting?

Sports betting parlay cards