NFL parlay bets give bettors the chance of collecting a bigger payout by combining multiple NFL bets on one bet slip. Each bet included in a parlay increases the odds and potential winnings, but every single one of these bets must be a winner for you to eventually cash in.
A parlay can include just about any mix of moneyline, spread, totals or prop bets from one or more games each week. Some sportsbooks will allow unlimited events in a parlay, while others cap a maximum number.
If you’re like this bettor and you feel confident in multiple different outcomes from NFL games, a parlay is a great way to increase your potential payout when compared to betting on each of these outcomes individually.
Rather than placing six separate moneyline bets on the Chargers, Steelers, Panthers, Eagles, Texans and Cardinals to win their games, this bettor combined them into one parlay. This method also allows you to manage your bankroll by risking less outlay for more potential winnings. In this example, the bettor has wagered just $25 for a return of $3,632.12.
However, it’s important to understand that there is no prize for correctly wagering on 5 out of 6 events in an NFL parlay bet.
Even though picking 15 out of 16 winners from any given weekend of NFL action is an incredibly impressive feat, this gambler went from potentially having $736,959 in their pocket to a big fat donut instead (i.e. 0, zero, zilch, nada, nothing… you get the point!).
SAME GAME PARLAY
While the examples we’ve covered so far have been NFL parlays wagered across a variety of different games, most sportsbooks will also allow you to place a same game parlay (also sometimes referred to as a ‘one game parlay’).
A same game parlay is exactly what it sounds like - a parlay with all selections coming from one specific NFL game. Same game parlays are a fantastic opportunity to wager on correlated aspects of an NFL game. For example, a team running an air-raid offense against a team with a poor pass defense might be a good opportunity to combine bets on the quarterback to hit the over on their passing yards over/under total, their primary receiver to hit the over on their receiving yards over/under total and that same receiver to score a touchdown at any time.
The key with an NFL same game parlay is to look for events that increase the likelihood of other events occurring. If you can sync these up onto one bet slip, you give yourself a betting chance of cashing in!
You can play around with potential parlays with our parlay odds calculator. It also showcases the implied win probability for every parlay you build, so you'll understand how likely (or unlikely) your coming parlay bet is.
FUTURES PARLAY
Most sportsbooks will also allow you to include futures bets in an NFL Parlay. An example of this might involve picking each of the NFL’s eight division winners and combining it into one bet slip.
Payouts for NFL futures bets are already often very lucrative. Due to the fact the result of these bets are only known at a later point in time (and thus more variables can impact the outcome during this window). Combining a variety of futures bets into one parlay is a great way to amplify this and maximize your potential profits!
CASH OUT
Some sportsbooks will offer what they call a ‘cash out’ option for your parlays. This allows you to ‘cash out’ the parlay before the final event is finished for a proportionate sum of money to what the current market reflects. Your cash out offer will always be less than the sum you’re in line to win but it guarantees profit. Now the choice is yours - take the money on offer or let it ride?
DID YOU KNOW? / FUN FACT
During the 2015 NFL season, a bettor named Tayla Polia won a 15-leg NFL parlay. Polia, a self-confessed gambling newbie, wagered $5 on a 20,000-1 parlay (below) for a $100,005 payout. She correctly wagered on the spread for 14 NFL and nailed one totals bet as well.
To help you find the best variety of betting options available to build the perfect parlay, our team at Bet Basics has compiled a list of 100% licensed and regulated legal sportsbooks we recommend betting with. Depending on which state you're in, signing up with the likes of Bet365, BetRivers, Caesars, PointsBet, BetMGM,and FanDuel will give you the opportunity to conduct odds comparisons and make the most of exclusive Bet Basics odds, bonuses and promotions.