How To Bet Parlays On Betway

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While some single wagers occasionally have high odds, most bettors turn to one betting alternative whenever they want to boost their winnings: parlays.

Parlays, which are a combination of two or more single wagers, have many significant advantages.

Most bettors, however, adore them because of the massive winnings that such wagers can potentially yield.

On Betway Sportsbook, bettors can freely place a variety of parlays, including same-game parlays.

If you want to learn more about your parlay betting options on Betway and how to profit from this betting alternative, we’ve put together a comprehensive guide for you.

How To Place A Parlay Bet On Betway

It’s very easy to build and place a parlay bet on Betway sportsbook.

After signing up on the site, here are the steps you need to follow:

  • Launch the Betway app and sign in
  • Look for two or more games—or one if you plan to place a same game parlay
  • In order to build a parlay, you’ll have to add at least two sports wagers to your bet slip
  • After doing so, jump over to the bet slip and confirm that your picks have been parlayed. Here, you’ll also see the wager’s total odds
  • Enter the amount you want to risk
  • Go through your selections once again, and then click the “Place Bet” button

Parlay Builder

At Betway, the site’s parlay builder allows you to build and place same-game parlays in sports like soccer, basketball, and football.

To create this kind of parlay on the site, you’re supposed to select an eligible game and then toggle the “Create Same Game Parlay” option.

This will then show you bets from that game that can be placed into the same bet slip.

If you’ve selected a game but can’t see this option, it’s possible that the sportsbook isn’t allowing same-game parlays in that particular game.

What Is A Parlay Bet?

A parlay is an extremely popular bet type. Even if you’re new to betting, it’s quite easy to understand what parlays are.

Basically, whenever you place two or more wagers into the same bet slip, you end up creating a parlay.

For example, if you parlay the Dodgers (-150) together with the Grizzlies (+200), you’ll end up creating a multi bet priced at +400.

In such bets, the odds of all your selections are combined, guaranteeing you a greater payout as compared to placing all the picks individually.

However, parlay bets have one main catch: all your selections—or legs, as they are commonly called—need to be correct for you to win the parlay. 

So it’s quite easy for a single selection to mess up a large payday, and that’s why you need to be cautious with the selections that you add to your parlay.

Same-Game Parlay

As we’ve already mentioned—and as the name suggests—same-game parlays deal with selections from a single game or event.

Such parlays were uncommon in the past, but now, many sportsbooks—including Betway—allow punters to build and place same-game parlays.

This can be a great way to boost your odds by including correlated picks without increasing too much of your risk. Here’s a perfect example of this type of parlay:

  • Dallas Mavericks -7.5 spread (-105)
  • Over 215.5 points (-110)
  • Parlay odds: +273

In this example, for the parlay to win, the Mavericks need to cover the spread, while the combined points of both teams needs to be 216+.

If you place a $100 wager on this game and the Mavericks win by a score of 120-107, you’ll end up winning $273.

Player Parlay

If player props are your bread and butter, then you might consider building a parlay that focuses on player statistics.

In this type of parlay, you can focus on the number of points, goals, assists, or touchdowns that specific players will notch.

Betway will even allow you to build a same-game player prop parlay in some sports.

Curious what a player parlay looks like? Here’s a perfect example:

  • Davante Adams To Score A Touchdown (+130)
  • Jalen Brunson, Over 17.5 Points (+135)
  • Karim Benzema, Over 1.5 Goals (+160)
  • Parlay odds: +1305

Let’s say you decide to risk $100 on this wager.

If Davante Adams scores a touchdown, Jalen Brunson gets 18+ points, and Karim Benzema scores 2 or more goals, you’ll end up winning $1,305 from this player parlay.

Moneyline Parlay

Moneyline parlays are extremely straightforward—every team that you select simply needs to win their respective game outright.

There are no spreads or winning margins involved in this type of parlay, which further simplifies such bets.

Most bettors build moneyline parlays when they want to combine several favorites with low odds.

Of course, you’ll be restricted from including two teams in the same parlay if they are facing off against each other.

Here’s an ideal example of a multi-sport moneyline parlay:

  • Calgary Flames (-120)
  • San Francisco 49ers (-130)
  • New Orleans Pelicans (-200)
  • Parlay odds: +387

If the San Francisco 49ers, Calgary Flames, and New Orleans Pelicans all win their respective games, you’ll win $387 from a $100 wager.

Visit our guide to learn more about the betting moneyline at Betway Sportsbook.

Point Spread Parlay

If you’d rather focus on the spread instead of picking teams to win, then point spread parlays are perfect for you.

In such a parlay, every selection must cover the spread. For favorites, this means winning by a margin greater than the allocated handicap.

Underdogs, on the other hand, have more room for error. They can lose the game, but their losing margin shouldn’t be greater than the spread.

With that in mind, here’s an ideal example of a 2-leg NBA point spread parlay:

  • Miami Heat -4.5 (-110)
  • Memphis Grizzlies +6.5 (-110)
  • Parlay odds: +264

Here, the Heat need to win by at least five points, while the Grizzlies can lose by six but they’ll still cover the spread.

If you risk $100 on this 2-leg basketball point spread parlay, you’ll end up earning a profit of $264 if both the Heat and the Grizzlies cover the spread.

Over/Under Parlay

If you want to avoid focusing on the winners/losers of a game or anything to do with winning margins, you can create a parlay that solely focuses on game totals.

Your totals parlay can focus on the over, the under, or a mix of both.

Here’s a simple example of an NBA totals parlay that incorporates both over and under wagers:

  • Dallas Mavericks @ Phoenix Suns – Over 214.5 (-110)
  • Miami Heat @ Philadelphia 76ers – Under 207.5 (-110)
  • Golden State Warriors @ Memphis Grizzlies – Over 226.5 (-110)
  • Parlay Odds: +596

If you risk $200 and all three-game totals turn out to be accurate, you’ll walk away with a profit of $1,192.

Parlay Betting Strategy

There’s no denying the fun in parlay betting. But, if you’re a shrewd bettor, parlay betting can be both fun and profitable for you.

How can you achieve this balance? Well, through the use of the right strategies and knowing betting rules.

To help you profit from your future parlays, here are some strategies you can use:

Reduce Your Selections

Realistically, you have a better chance of winning a 2-leg parlay as opposed to a 10-leg multibet.

Remember, the more selections that you have in your parlay bet, the greater the risk. To minimize your risk, try removing unnecessary selections.

If you keep your parlays to around 2-4 selections, you’ll end up winning most of your parlays.

Place Correlated Parlays

Correlated parlays help you increase your odds without increasing too much of your risk. In such parlays, all the bets are somewhat related. So if one bet wins, it’s highly likely that the other wager will also land.

For example, if a favorite needs to cover the spread by a huge margin—e.g., 17 points—it would also make sense to back the over since the team needs massive points to haul to end up covering the spread.

If you end up going for this tactic, most of the correlated parlays that you’ll build will be same-game parlays.

Hedge In Appropriate Circumstances

How many times have you lost your parlay because of the last game? With this in mind, you should hedge your parlays when you’re down to the last pick instead of letting them run.

Hedging—which is simply backing a contrary pick—will help you secure a profit regardless of the outcome of the final selection in your parlay.

Why don’t you include prop bets in your next same game parlay at Betway?