Parlays Explained: How to Boost Your Sportsbetting Bankroll

Last updated: October 2026

A parlay bet combines two or more selections into one wager, and every non-void selection generally must win for the ticket to cash. Parlays offer higher potential payouts than individual bets, but each additional selection makes the full ticket harder to win.

To understand how parlay betting works, bettors need to know how odds combine, how sportsbooks calculate payouts, and how pushes or voided selections affect a ticket. This guide covers parlay payouts, selection strategies, cross-sport combinations, and bankroll management.

Understanding Parlay Betting Basics

Parlay betting allows you to combine multiple selections into a single wager. Instead of placing separate bets on each game or market, you put them on one ticket with a combined payout.

For example, you could combine an NFL point spread, an NBA moneyline, and an MLB total in one parlay. The ticket pays according to the combined odds if all required selections win.

The trade-off is that one losing selection generally causes the entire parlay to lose. Before building a ticket, understand how the odds, markets, and settlement rules affect the wager. Our NFL parlay betting guide explains how these concepts apply to football matchups throughout the season.

What Is a Parlay Wager?

A parlay wager links two or more selections together. These selections can come from different games, different markets, or, where the sportsbook permits, different sports.

For example, a bettor might combine an NFL team at -3.5 with an NBA team on the moneyline. Both selections must win for a standard two-leg parlay to cash. If either selection loses, the ticket generally loses.

The number of available legs depends on the sportsbook and the markets selected. Some parlays also allow related selections from the same game, although these may be priced differently through a same-game parlay feature.

The underlying concept applies across sports, but the markets and settlement rules can vary. Our guides explain how college football parlays work and how soccer parlays work.

MyBookie Parlay Payoffs

MyBookie allows bettors to combine two or more teams or totals into one parlay wager. The more selections you combine, the higher the listed payoff can be. Every required selection must win for a standard parlay to receive its full payoff, subject to MyBookie’s rules for ties and no-action outcomes.

MyBookie’s published parlay payoff schedule is calculated on a flat line of -110.

Important: These are MyBookie’s published payoff figures for a flat line of -110. The listed payoff is not a guarantee that every possible combination will receive the same price. Check the final odds and payout displayed on your bet slip before placing a wager.

MyBookie Parlay Rules

• Future bets cannot be parlayed.
• MyBookie allows maximum underdog odds of +500 for circled plays included in parlays.
• If a selection results in a tie or no action, the parlay reverts to a lower-level payoff.
• For a two-team parlay, a tie reverts the wager to a straight bet.

How to Bet Parlays at MyBookie

To place a parlay at MyBookie, select eligible wagers and combine them on your bet slip. Review the selections and the displayed payout before confirming the bet.

1. Sign in to your MyBookie account.
2. Open the Sportsbook and select a sport or event.
3. Add your selections to the bet slip.
4. Select the Parlay option on the bet slip.
5. Enter your bet amount and review the displayed odds and potential payout.
6. Click Place Bet and complete the confirmation process.

Not every wagering option can be combined in a parlay. Future bets cannot be parlayed, and circled plays included in parlays are subject to MyBookie’s maximum underdog odds of +500. Review the available selections and the sportsbook’s rules before confirming your ticket.

How to Bet Same Game Parlays (SGP)

A Same Game Parlay (SGP) combines multiple wagers from the same game into one parlay. At MyBookie, bettors can build these combinations using the Props Builder. Available selections and combined odds depend on the game and markets offered.

How to Place a Same Game Parlay

1. Sign in to your MyBookie account.
2. Open the Sportsbook and select Props Builder.
3. Select the sport and game you want to bet on.
4. Add your first selection to the bet slip, then add another eligible selection.
5. Click the parlay odds displayed in the Props Builder.
6. Enter your bet amount and review the combined price.
7. Click Place Bet and complete the confirmation process.

Before placing an SGP, review the available selections and the final odds shown on the bet slip. Do not assume that every market from the same game can be combined.

How to Add a Selection to an Open Parlay

MyBookie allows bettors to leave open spots in a parlay and fill them later. You must place the original parlay with at least one open spot to use this feature.

1. Sign in to your MyBookie account.
2. Build a parlay with at least one open spot, then place and confirm the bet.
3. Open your bets and find Open Parlays under the Unsettled tab. Open parlays do not appear on the Cash Out tab because they cannot be cashed out.
4. Click or tap Fill Open Spots on the parlay you want to update.
5. Select the wager you want to add.
6. Click or tap Add Bet to place the selection in an open spot.
7. Review the bet slip and click or tap Place Bet to confirm, or select Remove Bet to remove the selection from the bet slip.

What Happens if an Open Spot Is Not Filled?

According to MyBookie’s stated rules, open spots are automatically removed if they remain unfilled for 30 days after the original parlay is placed. The parlay is then settled using the remaining selections.

MyBookie states that it sends an email and text reminder after 25 days. If the open spot remains unfilled, it will be closed and the parlay settled five days later. The removal is also reflected on the Account History page.

Parlay Betting Strategies

A disciplined parlay strategy starts with the quality of each selection, not the number of legs or the size of the displayed payout. Evaluate each wager independently, compare the available odds, and decide whether combining the selections makes sense.

Keep Parlays Manageable

Shorter parlays have fewer opportunities for a selection to lose. Two- or three-leg tickets can be easier to evaluate than parlays containing many selections, but a shorter ticket is not automatically profitable.

Longer parlays require more outcomes to go your way and can create substantial swings in your results. Do not add another leg just to increase the payout. Before expanding your approach, review the MyBookie Betting Academy for more information about betting fundamentals, odds, and bankroll management.

Evaluate Every Leg Before Combining Picks

Assess each selection on its own merits. Compare your estimated probability with the probability implied by the available odds, and account for relevant matchup information, injuries, and market changes.

For moneyline wagers, understanding the price is particularly important. Our guide to expert moneyline betting tips explains concepts bettors can use to evaluate odds and potential value before placing a wager.

For NFL parlays, data can provide additional context when assessing teams and markets. Learn more about how AI analytics is changing NFL betting and how performance data and matchup analysis can inform betting decisions.

Understand Correlation Between Selections

Some selections are related because they depend on overlapping game conditions. For example, a quarterback’s passing yards and a receiver’s receiving yards may be influenced by the same offensive performance.

When selections are correlated, their combined probability cannot always be calculated by multiplying their individual probabilities as if they were independent. Sportsbooks may adjust the price of related selections or restrict certain combinations.

Review the combined price rather than assuming that related selections create extra value. A correlation can help or hurt a particular ticket, depending on the outcomes involved and the odds offered.

Avoid Common Parlay Betting Mistakes

Adding unnecessary legs, choosing selections based only on their payout, and increasing stakes after losses can undermine a betting plan. A selection should have a clear reason for being on the ticket beyond making the potential return look larger.

Our parlay strategy guide provides additional information about evaluating combinations. You can also review these parlay betting dos and don’ts to identify mistakes that can increase risk.

Sports You Can Combine in Parlay Bets

Depending on the sportsbook’s available markets, bettors may be able to combine selections from football, basketball, baseball, hockey, soccer, tennis, MMA, and other sports. Cross-sport parlays let you combine opinions from different events on one ticket.

However, covering more sports does not automatically diversify a ticket in a way that improves its expected return. Each additional selection introduces another outcome that must be evaluated, and familiarity with a sport does not guarantee that its available odds offer value.

Use the following sportsbook pages to explore the markets available for different sports. The ability to combine specific selections depends on current market availability and sportsbook rules.

Pros and Cons of Parlay Betting

The main benefit is the potential payout, while the main drawback is the difficulty of getting every required selection right. Whether a parlay is worth placing depends on the combined price, the estimated probability of winning, and the amount at risk.

Bankroll Management for Parlays

Bankroll management helps limit the financial impact of losing wagers. Parlays can produce long losing stretches, so decide how much you can afford to risk before placing a ticket.

Use a consistent staking plan rather than increasing your wager to recover losses. A large potential payout should not determine your stake, and money needed for essential expenses should never be used for betting.

A winning parlay does not establish that a strategy is profitable, just as one losing ticket does not explain every result. Track enough information to assess the odds you take, the quality of your selections, and your overall results.

Cross-Sport Parlays

Cross-sport parlays combine selections from different sports on one ticket, when permitted by the sportsbook. A ticket might include an NFL point spread, a baseball moneyline, a soccer market, and a tennis selection.

These combinations allow bettors to consider opportunities across different events, but every leg still needs independent evaluation. Different sports have different market structures, scoring systems, and settlement conditions, so research should account for the specific wager being placed.

Before placing a cross-sport parlay, review the MyBookie sports betting rules to understand applicable market and settlement conditions.

Major sporting events may also feature promotional parlay markets or special betting combinations. These offers should be evaluated like any other wager, including their price and eligibility conditions. Learn more in our guide to where to find special parlays on big events.

How Much Can You Win With a Parlay?

Your potential parlay payout depends on the stake and the combined odds. The higher the combined odds, the larger the potential profit relative to the amount risked. However, higher odds also generally reflect a lower implied probability of winning.

For example, a $10 wager at +260 would produce $26 in profit if it wins, plus the original $10 stake, for a total return of $36. The actual payout for a parlay depends on the final odds displayed by the sportsbook and how the ticket is settled.

Before placing a wager, check the potential return and make sure you understand which selections must win. A large displayed payout should not be treated as evidence that the ticket offers good value.

Final Thoughts

Parlay betting combines multiple selections into one ticket with a single potential payout. While the format can offer larger returns than individual bets, the full ticket is harder to win as more independent selections are added.

Evaluate each leg on its own merits, compare the combined odds with your estimated probability, and check the rules for pushes, voids, and related selections. Avoid adding legs simply to chase a larger payout.

Bankroll management matters just as much as selection quality. Set a fixed budget, use consistent stakes, and never treat a parlay as guaranteed income. A disciplined approach starts with understanding the risk before placing the wager.

MyBookie: Bet On Anything. Anywhere. Anytime.

Important: Sports betting involves risk. No strategy guarantees results, and managing exposure is essential.

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About the Author

Henry Watkins

Henry Watkins is a Sports Writer at MyBookie. Originally from Scotland and currently residing in Metro Atlanta with his wife, Penny, Henry covers competitive and professional sports as well as the business of sports. In addition to his sports writing, he is an author of horror fiction, including Karaoke Night, Crueller, and Off The Grid.

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