How to bet Parlays: Dos and Don'ts with MyBookie

Learning how to bet parlays is more than chasing long shots—it’s about creating calculated combos of bets that work together to maximize payout and minimize regret.

MyBookie Teaches You How to Bet Parlays the Smart Way: Build Bigger Payouts Without the Risky Guesswork

How to Bet on Sports | Stop Donating to the Sportsbook: Smarter Parlays Start Here!

Table of Contents

MyBookie Teaches You How to Bet Parlays the Smart Way: Build Bigger Payouts Without the Risky Guesswork
Can You Multi-Betting in Sports
How To Bet Parlays Fundamentals
How To Bet On Parlays Successfully
- Parlay Selection Criteria
- Optimal Parlay Size Strategy
Where To Bet Parlays Effectively
NFL Parlays Betting Strategies
NFL Betting Parlays Best Practices
Parlay Betting Dos and Don’ts
Bankroll Management for Parlays
Don’t Overestimate Your Predictive Accuracy
Dos and Don’ts – Parlay Options
Advanced Parlay Strategies
Common Parlay Betting Mistakes
Conclusion

Can You Multi-Betting in Sports

Parlay betting is a great way to turn a small investment into massive profit.

It’s also much riskier than placing single bets.

Learning how to bet parlays means discovering the magic of boosted payouts.

Parlays involve at least two bets, combined into one, that leads to a higher risk and higher reward.

Both bets, all bets in your parlay, must hit for your parlay to cash.

This guide helps you dive into NFL betting parlays.

Check out the fundamentals, odds deciphering, and everything else you need to create winning parlays.

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How To Bet Parlays Fundamentals

Mastering how to be on parlays means understanding the basics.

Each leg of a parlay is an individual bet that’s combined into a single bet called a parlay.

You must win each bet, all of your leg bets, to win the parlay bet.

Odds multiply in a parlay, increasing the parlay payout, sometimes to a huge amount.

For example, two -110 bets parlayed together pay around +260.

That sounds great, but the chances of winning decrease as you add more legs.

This makes parlay betting a thrilling but tricky proposition.

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How To Bet On Parlays Successfully

Success with parlays requires more than gut feeling.

First, avoid overreaching.

Many recreational bettors go straight for 5+ leg parlays, chasing big payouts.

Instead, learn how to bet parlays by building shorter, high-quality combinations.

Limit parlays to two or three strong picks with real synergy.

Also, don’t always go for the favorite.

Underdog lines with value can make a smaller parlay more profitable.

A smart approach? Combine different markets—like spreads and totals—that complement each other.

Parlay Selection Criteria

Selecting the right legs is the heart of any parlay.

Don’t just pick winners—pick cohesive outcomes.

Look for games or markets that are logically connected.

Maybe, you like a team to cover.

You may also like over, if you believe the other team keeps pace, or you may like the under if you believe the game is a blowout.

Check matchup data, injury reports, and study line movement.

And when crafting NFL parlays betting tickets, prioritize teams and trends you follow closely.

Discipline beats luck.

Optimal Parlay Size Strategy

One of the most important decisions is how many legs to include.

The sweet spot for most bettors is two or three.

The payout is still appealing, and your odds of winning are significantly higher than with 5+ legs.

Every extra leg compounds the risk.

Don’t swing for the fences on parlays.

You boost payouts by making smart plays not by looking to beat the book with a massive underdog ML bet.

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Where To Bet Parlays Effectively

Not all sportsbooks are created equal.

Knowing where to bet parlays can make a real difference in long-term profitability.

Look for platforms that offer:

Competitive parlay odds
Same-game parlay options
Boosted parlay promotions
Round robin features

Reputable sportsbooks like MyBookie offer unique parlay tools and bonuses.

Compare odds across books—line shopping is just as critical in parlays as singles.

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NFL Parlays Betting Strategies

NFL is king when it comes to parlay betting.

There’s a rhythm to the weekly schedule that lets bettors build strong narratives.

Successful NFL parlays betting strategies include:

Fading public teams that are overvalued
Betting divisional games where underdogs often cover
Looking for weather and injury mismatches

Stick to games you understand and don’t let the hype skew your reasoning.

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NFL Betting Parlays Best Practices

In NFL betting parlays, correlation is key.

Correlated bets are outcomes that are likely to occur together—like a team covering the spread and the total going over.

Many sportsbooks won’t allow highly correlated parlays, but when they do, they’re gold.

Also, time your bets.

If you see value early in the week, lock it in.

But sometimes waiting for injury updates or line movement can give you an edge.

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Parlay Betting Dos and Don’ts

Do:

Use parlays for calculated risk, not desperation.

Keep the number of legs low.

Look for odds boosts and promotions.

Track every bet in a journal or spreadsheet.

Don’t:

Chase losses with longer parlays.
Bet on teams you haven’t researched.
Ignore the value of single bets.
Stake large portions of your bankroll.

Parlays should complement a larger strategy, not be your only angle.

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Bankroll Management for Parlays

Parlays are high variance.

That means you’ll have cold streaks—guaranteed.

Protect your bankroll by:

Limiting parlays to 5% or less of your total bankroll
Flat betting instead of increasing stakes after losses
Treating parlays as entertainment rather than core investments

Smart parlay betting means knowing when not to fire.

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Don’t Overestimate Your Predictive Accuracy

Predicting multiple outcomes correctly is extremely difficult, even professional bettors struggle to consistently win parlays.

If you are new to sports betting, here are some Dos and Don’ts on how to bet Parlays.

Of all the ways you can bet on sports, parlays are considered the “Sucker Bet.”

It is a way to bet on multiple teams at the same time, with the promise of a very big payout.

But all the teams you pick must finish as you predicted, or else you lose the bet, that’s why exist the Dos and Don’ts.

For that very reason, it is a very popular way to bet on games for those that are new to sports betting.

It isn’t very popular with the experienced professionals, because they know better.

No matter how tempting it may be, try not to risk a lot of money on a parlay with more than three or four teams.

This is easier said than done, because a $5 parlay on seven teams can win you over $1,000.

The truth of the matter is that the chances of you winning all seven games are slim to none, and you don’t get any compensation.

Even if you are right on six out of the seven games, which makes it even more frustrating, and can tempt you to keep betting on more parlays until you are broke.

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Dos and Don’ts – Parlay Options

Instead of a seven team parlay, you can bet on a parlay with two to four teams.

The chances of you winning this type of parlay are way better than your chances of winning a seven team parlay.

The winnings may not be as much as the winnings you would get if there were more teams in the parlay.

It is still going to be more than you would have won by placing single bets on the teams you have in the parlay, which isn’t too bad.

Different Sports

When betting parlays, you can increase your chances of winning by spreading it across several sports. <

Most sportsbook will allow you to pick teams from different sports when picking a parlay.

So instead of forcing bets by picking teams from the same sport, you will increase your chances of winning by picking from any of the different sports.

You can even pick teams that don’t play the same day, as long as the betting lines are open.

By doing this, you can pick the favorites from the different sports.

That’s if they all win their games, you will win a nice little payout.

Look at the Odds

When placing a parlay bet, you should bet the minimum possible every time you are picking more than 10 teams. <

It is true that you will make significantly more if you place a $100 bet on a 10 team parlay than if you place a $1 bet.

But the sportsbook odds of the bet winning are the same, which is very low.

If you know that you enjoy placing parlay bets.

There is no point wasting a lot of money on a bet with miniscule odds of coming through.

That is why you should place $1 parlay bets, because it doesn’t really affect your bottom line when you lose.

You can still get payouts in the thousands if you win.

Dos and Don’ts – Keep an eye on Trends

Another parlay strategy that has proven to work over the years involves keeping track of the trends. <

Every week, there is a day when all the home teams win or all the underdogs win.

That means that there is a trend going on that day.

For some reason, this is more common in football than any other sport.

So if you want to win a decent amount on a parlay.

Always pay attention to the trends that are going on with the early football games on a weekend and follow the trend when betting in the evening games.

Sooner or later, you will accurately predict the trend, and get a big payout from your parlay.

As previously mentioned, you shouldn’t put a lot of money in these parlays.

That is because it might take a while before you finally pick it correctly.

So it isn’t worth wasting too much money on.

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Advanced Parlay Strategies

Once you have the fundamentals down, consider advanced tactics:

Hedging:
If most legs have hit, hedge your final leg with a straight bet on the opposite outcome to lock in a profit. (How To Hedge A Sports Bet)
Round Robin:
This spreads risk by creating multiple smaller parlays from a larger group of picks.
Progressive Parlay Systems:
Some books offer systems that still pay out if one leg loses—great for cautious players.

These tools aren’t magic, but they help stretch your edge when used wisely.

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