A parlay, also known as an accumulator or combo bet, is a type of sports wager that combines multiple individual bets into a single bet. In a parlay, you select two or more outcomes you believe will occur, such as the winners of different sporting events or the results of various games. These individual bets are then grouped, and the success of the parlay depends on all of the chosen outcomes being correct.
The potential payoff for a parlay is higher than if you were to bet on each outcome separately because the odds of winning a parlay are lower due to the increased number of correct predictions required. However, if even one of the selected outcomes is incorrect, the entire parlay is considered lost, and you don’t receive any winnings.
Parlays are popular among bettors looking for larger potential payouts, but they also come with higher risk due to the need for multiple outcomes to be correct. Understanding the odds and possible rewards before placing a parlay bet is essential, as they can be more challenging to win than individual bets.