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Parlays are universally loved by bettors. With parlays, bettors can risk low sums and still win big.
So if you fancy winning $500 from a $10 bet, you can choose to build a parlay instead of going for an extreme long shot.
Parlays are extremely popular, and that’s why they’re offered by all the major sportsbooks. One sportsbook that is renowned for parlay betting is BetMGM, which is the focus of this betting guide.
If you want to join BetMGM, or if you are new to the site, you may be curious about the type of parlays that you can place.
The good news is, BetMGM has a lot of flexibility when it comes to parlays. So you can look forward to perks such as same-game parlays, a Parlay Builder, and parlay-related bonuses, just to mention a few.
In this article, we’ll take you through everything that you need to know regarding placing parlay bets on BetMGM, so read on for our in-depth coverage.
Fortunately, placing a parlay bet on BetMGM is as straightforward as placing any other bet on the site.
So if you want to place a basic parlay, just ensure that you follow these steps:
A Parlay Builder is a tool used by certain sportsbooks that helps simplify the parlay-building process.
BetMGM is one of the few American sportsbooks with a Parlay Builder. When you use BetMGM’s Parlay Builder, you can easily create same-game parlays through a simplified process.
Since there are hundreds of selections to choose from, the Parlay Builder categorizes all the selections into unique, specific categories.
So instead of being bombarded by hundreds of selections, you can select the Parlay Builder tab.
This will allow you to see categories such as game props, popular bets, player props, etc., making it easier for you to choose your selections from such simplified categories.
This tool isn’t available for every game, but BetMGM displays a Parlay Builder badge next to all the supported games on both the app and the website.
In simple terms, a parlay bet is a wager that combines two or more selections into a single bet slip. In other regions, parlays are also known as multi-bets, accumulators, or all-up bets.
Each selection within your parlay is called a leg. For example, a 2-leg parlay consists of two selections, while a 10-leg parlay is a parlay that features 10 selections. You can boost your winnings by increasing the number of legs in your parlay.
With parlays, the general rule is that each selection must be correct for you to earn a payout. If one leg ends up losing, you lose your entire wager.
Losing a parlay because of a single selection isn’t a new phenomenon. If you’ve been betting for a while, you know how common and frustrating this can be.
Fortunately, some parlay alternatives, such as round robins, allow bettors to earn something in return even when one selection in the parlay fails them.
Can you do the same game parlay on BetMGM? Yes, you can.
Same-game parlays, also known as SGP, focus on correlated wagers from the same game.
On BetMGM, you can place a same-game parlay. This is simply combining two or more selections from a single game into one bet slip.
Here’s an example of how a same-game parlay looks like:
Parlay odds: +839
If all the above selections from the same game turn out to be correct, then you’ll win your wager. So if you were to risk $100 on the above bet, you’ll win $839, and your total payout will be $939.
When placing one-game parlays, sportsbooks won’t allow you to combine contrasting wagers into one bet slip.
For example, if Team A is playing Team B, your parlay can’t include the option of both teams winning.
#1 Rule: If any leg of an SGP bet relates to an existing market on-site, rules for that market will apply.
If a single game parlay bet includes a player to score an anytime touchdown & the selected player scores only scores via passing touchdowns, this bet will be graded a loser because the Anytime Touchdown Scorer rules do not include touchdowns scored as a passer.
#2 Rule: If any leg of the same game parlay bet is made void or settles as a push, then the whole bet would become a void or a push. The exception to this is if the outcome of the bet requested can still happen.
#3 Rule: A SGP bet may contain up to 15 legs. Same-Game Parlays do not support wagers with more than 15 legs.
#4 Rule: This parlay bet must be placed from a single game. Same-Game Parlay wagers cannot be combined across multiple games.
#5 Rule: If part of the bet requested consists of one of two named players to score at any time during a game, bets placed on that market will stand if one or both of those players play any part in that game.
If BetMGM’s same game parlay isn’t working and you are not able to create a betting ticket we recommend getting in touch with the customer service via live chat.
A player parlay specifically focuses on player props. Here, your parlay will focus on unique stats that the players are supposed to achieve and nothing else.
You can choose player props from the same game, or you can combine props from different games or even different sports as well.
Here is one example of an NFL and NBA player parlay:
Parlay odds: +722
If you risk $100 on the above odds, you’ll win $722 if all three players achieve the above stats.
In a moneyline parlay, all the teams that you’ve selected need to win their respective games for your parlay to be graded as a winner.
So if two teams are facing off against each other, you can’t place them into the same parlay.
However, you can place teams from different leagues or even different sports into the same parlay.
Here’s an example of how a multi-sport moneyline parlay would look like:
Parlay odds: +1174
As long as all three teams win their respective games, then you’ll win your wager. A $100 bet using the above odds will return $1,174, and your total payout in the above scenario will be $1,274.
A point spread parlay specifically focuses on spread bets. All the teams that you place into your parlay need to cover the spread. If even one team fails to cover the spread, then you will not win your wager.
Here’s an example of how a 2-leg point spread parlay looks like:
Parlay odds: +264
If both the Texans and the Panthers cover the spread, then a $10 wager will yield $26.4.
Instead of focusing on whether a team is going to win or lose a game, you can choose to focus on the total number of points that you expect in the game.
So you can combine several games into one parlay with the main focus being the total number of points in each game.
You can diversify your over/under parlay by backing the over on one game and the under on a different game. Of course, you can’t place a one-game parlay using this strategy in most sportsbooks since the over and the under are contradictory bets.
Here’s an example of how a 2-leg over/under parlay looks like:
Parlay odds: +264
If there are more than 218 points in the Hornets game and less than 214 points in the Bulls game, then you will win $264 from a $100 wager.
If you want to be successful in betting, you need to implement several betting strategies. The same applies to parlay betting.
You can’t blindly throw several teams into a 10-leg parlay and hope for the best.
So here are a few parlay betting strategies that will help you beat the bookies more often than not.
Having more selections may increase your odds, but it also decreases your chances of winning. Instead of stuffing your parlay with multiple selections, which increases your risk, you can play it safe by choosing between 2-4 selections. Of course, it’s easier to win a four-team parlay than it is to win a ten-team parlay.
If you find yourself in a situation where your parlay is down to one final game, you can play it safe by hedging the final leg in order to guarantee a profit.
For example, if you stand to win $1,000 from your 3-leg parlay and your final pick is a moneyline wager on Team A, you can place $500 on Team B to win the game. That way, you’ll earn a profit regardless of which team wins the game.
When placing correlated parlays, the result of one selection somewhat depends on the result of another selection.
For example, if a favorite is expected to cover the spread in a high-scoring game, you can also add a bet on the over to form a 2-leg same-game parlay, and this will increase your total winnings.
So if the favorite team manages to cover the spread, then it’s extremely likely that the game will end up being a high-scoring one, meaning that bets on the over are also likely to win.
Why don’t you include prop bets in your next same game parlay at BetMGM?