How To Bet Parlay On Betfred App
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If you are looking for a fun, profitable alternative to cookie-cutter straight bets, then you should consider adding parlay bets to your wagering arsenal.
Parlay bets are low-risk, high reward. You can wager a small sum of money to hit big.
Due to the popularity of parlay bets, they are available at all of the top sportsbooks, including Betfred.
At the Betfred Sportsbook, you will have the ability to place almost any type of parlay imaginable, which I will go over in this detailed guide.
So if you want to place a moneyline parlay, a same-game parlay, or a multi-sport parlay, you do all of that and so much more at Betfred.
How To Place A Parlay Bet On Betfred Sportsbook
If you already know how to place a straight wager, placing a parlay bet should be a breeze. It is just a little bit more complex.
Below, I will review the steps needed to build a parlay bet at Betfred Sportsbook:
- Visit Betfred Sportsbook to activate and take advantage of the new user sign-up bonus.
- Now that you are signed up and logged in, click the drop-down menu tab that will display all of the sports you can bet on.
- Pick the sport you want to bet on.
- After choosing the sport, you will now select the games you want to build your parlay from. You must select at least two.
- Your picks will now show up in your bet slip.
- Next, open your bet slip and enter the amount that you want to wager.
- Finally, examine your bet slip and make sure that you have chosen the parlay option, and make sure that everything looks the way you want it.
- Now hit the “Submit Bet” button and you’re off to cash a winning parlay bet.
A parlay builder is a tool provided at particular sportsbooks that help streamline the parlay building process.
Since there are seemingly thousands of bet selections to choose from that you can include in your parlay, finding them can be frustrating and time-consuming since they are all spread out.
The parlay-building tool simplifies the process by arranging all of your betting options into individual categories all in one place.
To use this tool, all you have to do is hit the Build Bet tab and you will be taken to Betfred’s parlay builder, which they call a Bet Builder.
When you are in the parlay builder, you will see categories that include player props, team props, alternate spreads, and more. You can build your parlay here with ease.
While not all sportsbooks offer parlay builders, Betfred does. They also have a same-game parlay builder as well.
What Is A Parlay Bet?
A parlay bet is a type of wager that combines multiple bets into one slip. In other regions outside of the United States, parlays are also called multi-bets or accumulator bets.
Each bet selection in your parlay is called a leg. And you must have at least two legs in your bet for it to be a parlay.
If you have three legs, it will be called a 3-leg parlay. If you have 10 legs, it will be a 10-leg parlay and so on.
Losing a parlay is easy and frustrating. If even one leg loses, the entire slip will be graded out as a loss.
To circumvent this issue, you can choose to place a round-robin parlay.
With a Round Robin parlay, you can lose one or more legs and still receive a payout, depending on how many legs you include.
Same Game Parlay
A same-game parlay (SGP), is a parlay that is built with correlated wagers from a single game.
Not all sportsbooks offer SGPs, but Betfred does.
To place a same-game parlay, you have to choose at least two legs from the same game.
Here is an example of an SGP from Betfred Sportsbook:
- Philadelphia Eagles -3 (-110)
- Jalen Hurts to score a touchdown (+102)
- Devonta Smith to record Over 68.5 receiving yards (-108)
Parlay Odds: +575
If all of the legs in your SGP are successful, you will win $57.52 on a $10 stake.
A player parlay is a parlay that is made up of all player prop bets.
To win your player parlay, the players must achieve the statistical feats that you bet on.
Here is an example of a player parlay at Betfred:
- Dak Prescott to throw for Under 275.5 yards (+194)
- Juan Soto to hit a home run (+100)
- Andre Drummond to record Over 10.5 rebounds (-116)
Parlay Odds: +732
To cash your player parlay ticket, all legs must hit and you will get a $73.26 payout on a $10 wager.
A moneyline parlay is a parlay that consists of all straight moneyline bets.
To cash your moneyline ticket, all of the teams you picked must win.
Here is an example of a moneyline parlay at Betfred Sportsbook:
- Anaheim Ducks (-106)
- Seattle Seahawks (-108)
Parlay Odds: +262
If both of the teams that you chose win outright, you will get a $26.29 payout on a $10 stake.
Points Spread Parlay
A point spread parlay is a parlay that is built with all against the spread wagers.
To cash your point spread parlay ticket, all of the teams you select must cover their respective point spreads.
Below is an example of a player parlay::
- Miami Heat +7.5 (-104)
- Utah Jazz -4 (-108)
- New York Jets +6 (-150)
- Manchester United -1 +215)
Parlay Odds: +1001
If all of the teams you picked cover their spread, you will get a $100.19 return on a $10 stake.
An over/under parlay is a parlay that is made up of all wagers that pertain to the total points scored in a game.
If the games you chose to go over or under the total, depending on the side you picked, you will hit your parlay.
Here is an example of an over/under parlay bet at BetFred:
- Ottawa Senators @ Montreal Canadiens Under 6.5 goals (+100)
- Minnesota Wild @ Detroit Red Wings Over 5.5 goals (-114)
- New England Patriots @ Tampa Bay Buccaneers Over 47.5 points (-150)
Parlay Odds: +492
If your over/ under total bets in your parlay hit, you will get a $49.21 payout on a $10 wager.
Parlay Betting Strategy
If you want to be a successful sports better, especially with parlays, then you must place every bet with a strategy.
After all, how can you expect to hit a multi-leg bet without a game plan when hitting a single straight wager is difficult enough?
Below, I will reveal some of my top parlay-building strategies to help you become a more profitable sports bettor in the long run.
Exploit Boosts and Bonuses
Every sportsbook offers its users terrific odds boosts and bonuses to place different bets, parlays included.
However, you cant take advantage of these unless you have funds in multiple sports betting accounts.
If you want to place a parlay bet at DraftKings, but Betfred is offering a boost, then it would be wise to place the wager with the latter since you will get enhanced odds.
Just like line-shopping, you can also shop different sportsbooks for parlay boosts.
Hedging is a terrific way to guarantee yourself profit on a parlay bet that is close to hitting.
Let’s say you place a three-leg parlay and the first two bets have already won, well, then it would be wise to hedge the final leg before the game or with a live wager.
For example, if you place a four-leg parlay that will get you a $500 payout and the final leg comes down to the Celtics beating the Knicks, then place a $250 bet on the Knicks to win.
Boom. You just locked in a profit no matter what side is victorious.
Place Corresponding Parlays
When you place a parlay with corresponding legs, then one result would somewhat depend on the next.
Here is an example. If you wager on a favorite to win a high-scoring game, you can also bet on the over in the same matchup.
To make things interesting, you can also bet on the star player to score a lot of points if it is a basketball game or the star quarterback to throw for multiple touchdowns in a football game.
All of the legs in that example correlate with each other and if one happens, chances are that the others will follow, which will lead to a successful parlay cashing.
Why don’t you include prop bets in your next same game parlay at Betfred?