Are you thinking of laying an NFL parlay bet? These types of bets are among the most popular ones on offer on NFL games. Whether you are a beginner or an experienced bettor, you can expect to have plenty of fun with parlay bets.

Also known as accumulators, combos, or multi-bets, parlay bets are popular as they offer payouts that are larger in comparison to what you would get with traditional straight betting.

What is an NFL parlay?

An NFL parlay is a bet in which you can select various individual bets, typically two to ten bets, and link them into a single wager. While you can combine a range of NFL bets into a parlay, the most commonly used ones are NFL player prop bets, futures, moneylines, spreads, and totals. The bets just need to be on different games. Parlay bets can also include two or more teams and these wagers will offer a much larger payout than a straight bet.

To calculate the odds of a parlay, you will need to multiply the odds of the individual bets in the parlay. So, the odds are bound to get bigger when you make more selections. If your parlay includes a larger number of wagers, you will receive a bigger payout. However, the more selections you add, the more difficult it can be to win a parlay bet.

How do NFL parlays work?

While you can get wins by risking only low wagers in parlay bets, all your selections need to win if you are to win the bet. For example, if you bet on Team A, Team B, and Team C to win their NFL games and they do end up winning their games, you will get a payout that will be greater than what you would have won if you had bet on each game separately. However, if any of the teams lose their game, the entire card will be lost and you won’t win anything.

The exception is in the event of a tie, which is known as a push in gambling terminology. So, if Team A ties or pushes in its game, it is removed from the parlay and the previously three-team parlay now becomes a two-team parlay. If these two teams then win their respective games, you will win the parlay bet and get a payout, even if it will be a smaller one. If one team ties in a two-team parlay, the wager will revert to a straight bet. Postponed or canceled games will be taken as a tie for betting purposes.

What are the payouts for NFL parlays?

Payouts of NFL parlay bets will vary from sportsbook to sportsbook, but they are not likely to be very widely different. For example, if you win a regular three-team NFL parlay, you are likely to get a 6-1 payout. So, let’s say you bet $10 on the parlay and win all the three selections in it, then you will end up receiving $60. The payout amount increases as you add more bets. There are payouts of 150-1, 300-1, and higher.

While there is a higher risk in parlay bets, there is also a higher payout and that explains its popularity with regular sports bettors.

What are some strategies for NFL parlays?

It can be difficult to cash in on NFL parlays without having a sensible betting strategy in place. The most important thing you can do is limit your selections. While it can be tempting to join the rush when you hear of people getting massive payouts on 7 or 10 selection parlays, it is advisable to not be in a hurry to emulate them. You could just be setting yourself up for disaster. Instead, you will have better luck by limiting your selections. Generally, it is best not to make more than two or three selections in a parley wager

You should also have a money management system in place. The odds are stacked in favor of the sportsbooks, as it is, and the chances are high that you could lose even in two-team wagers. So, set a specific budget, stick to it, and bet only the money that you can afford to lose.