Updated: Sep 28, 2022
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When it comes to parlay betting, the possibilities are endless.
Parlays allow you to combine multiple bets, and you can also use parlays to test out different bets and markets. Best of all, parlays are known for their sizable payouts, which makes them extremely rewarding.
DraftKings is one of the best sportsbooks in the industry, so you can expect a lot of perks from them when it comes to the sportsbook’s parlays.
If you’re into same-game parlays, you’ll be pleased to hear that this option is available on DraftKings.
You can also combine prop bets, futures, and other betting options to create your own unique parlays.
To ensure that you reap from your parlays, we’re here to help you out. So read on for our in-depth parlay betting guide.
How To Place A Parlay Bet On DraftKings App
If you’ve ever placed a bet on DraftKings, then you won’t have a hard time creating a parlay.
However, if you’re new to the site, or if you’re unsure about creating and placing a parlay bet, we’re still going to help you out.
So, if you want to place this type of bet at DraftKings, ensure that you follow these simple steps:
- Create an account at the DraftKings sportsbook app.
- Scroll and search for the games that you wish to bet on.
- Select two or more bets.
- Your selections should appear on the bet slip as a parlay.
- Use the bet slip to enter your bet amount.
- Go through all the selections to ensure that you’ve chosen the correct picks.
- Place your bet.
When it comes to creating same-game parlays, many sportsbooks opt for a parlay builder. Simply put, this is a tool that helps bettors create their own custom parlays.
With a parlay builder, you can easily add selections, scroll through available markets, and edit your picks. Luckily, DraftKings has its own makeshift parlay builder
To use DraftKings’ parlay builder, just go to the game that you want to bet on and then click on the same-game parlay button.
Once the toggle is on, you’ll be able to build and customize your parlays with ease.
What Is A Parlay Bet?
A parlay bet is a combined wager featuring two or more bet selections in the same bet slip.
For example, if you were to combine a bet on the Yankees at -150 odds and the Lakers at +200 odds into one bet slip, you’d create a parlay that would be priced at +400.
So, for your parlay to win, both picks need to be correct. You won’t get any money back if one team wins and the other fails to win.
Parlays can consist of as many selections as you want. These individual selections are known are legs.
The above example featuring the Yankees and the Lakers was a 2-leg parlay because only 2 bets were involved in the wager. If you were to add one more selection, it would turn to a 3-leg parlay.
When you include more selections in your parlay, you end up increasing the total odds.
This may sound lucrative, but you need to remember that the more legs that your parlay has, the harder it can be for your parlay to win.
DraftKings Same Game Parlay
Can you do the same game parlay on Caesars? Yes, you can.
You can create same-game parlays (also known as SGP) on DraftKings. This means that you can combine two correlated picks from the same game and place them into one bet slip.
Here’s an example of a same-game parlay that you can place on DraftKings:
- Orlando Magic +15.5 spread (-105)
- Chuma Okeke Over 7.5 points (-110)
Parlay odds: +273
In the above example, you’ll win $273 if Orlando Magic covers the spread and Chuma Okeke scores 8 points or more.
To place a same-game parlay on DraftKings, you first need to go to the game that you want to bet on. Once there, click on the tab/button titled “Same Game Parlay”.
Keep in mind that you can only place a same-game parlay on a few sports, and you also won’t be able to see the individual odds for each selection on DraftKings.
Same Game Parlay Rules
#1 Rule: If any leg of a Same-Game Parlay bet relates to an existing market on-site, rules for that market will apply.
For example, if a Same-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 of 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 Same-Game Parlay bet may contain up to 10 legs. Same-Game Parlays do not support wagers with more than 10 legs.
#4 Rule: A Same-Game 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 DraftKings’ 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.
If player props are your thing, then you can combine a parlay that solely deals with player stats.
Your main concern won’t be the results of the games but whether the players that you choose manage to notch certain stats.
On DraftKings, you can create a same-game player prop parlay, or you can group players from different games, leagues, or even sports.
Here’s an example of a multi-sport player parlay:
- Tom Brady To Score A Touchdown (+105)
- Stephen Curry, Over 30.5 Points (-110)
- Lionel Messi, Over 1.5 Goals (+110)
Parlay odds: +722
If all three players manage to score the required number of points and goals, then a bettor who risks $100 on the above bet will win $722 and have a total payout of $822.
A moneyline parlay is one of the simplest parlays that you can build. This is because every team in your parlay simply needs to win their respective games.
So the number of points that a team scores and the margin of victory will not matter in a moneyline parlay.
Again, you can group teams from different games, leagues, and sports, but—for obvious reasons—you can’t create a same-game moneyline parlay.
Here’s an example of a multi-sport moneyline parlay on a few favorites:
- FC Barcelona -120
- Tampa Bay Buccaneers -130
- Golden State Warriors -200
Parlay odds: +387
If all three teams manage to win, then a bettor who risks $10 on the above odds will win $38.7.
Visit our guide to learn more about the betting moneyline at DraftKings Sportsbook.
Point Spread Parlay
Unlike a moneyline parlay, a point spread parlay specifically focuses on a team’s margin of victory or defeat.
Every team that you parlay needs to cover the spread.
So if you pick an underdog, they need to avoid losing by a specific margin, while a favorite needs to overcome the handicap given to them by the bookies.
Here’s an example of a 2-team point spread parlay that was placed on DraftKings:
- Las Vegas Raiders -7.5 (-110)
- Pittsburgh Steelers +3.5 (-110)
Parlay odds: +264
If the Raiders win by an eight-point margin and the Steelers only suffer a three-point defeat, then you can expect to win $264 from a $100 wager.
Lastly, you can choose to create a parlay that specifically focuses on game totals.
The results of the games won’t matter, but the total number of points in each game will decide whether you win or lose your wager.
Here’s an example of an over/under parlay:
- Phoenix Suns @ San Antonio Spurs – Over 220.5 (-110)
- Brooklyn Nets @ Portland Trail Blazers – Under 218.5 (-110)
- Golden State Warriors @ Los Angeles Lakers – Over 210.5 (-110)
Parlay Odds: +596
If the totals of all three games turn out as predicted, then a bettor who wagers $100 can expect to win $596.
Parlay Betting Strategy
Parlays are good if you’re seeking something that will give you a hefty return, but if you want to reap from parlays long term, you need to approach parlay betting from a strategic standpoint.
Here are a few strategies that will help you profit from most of your parlays and betting rules at DraftKings.
Choose Fewer Selections
You can still go for the 10-team long shot every once in a while, but, most of the time, you should limit the number of legs that your parlay has.
For us, we recommend somewhere between 2-4 selections. While a 10-leg parlay may pay out more, realistically, you’re more likely to win a 4-leg parlay instead.
Hedge Your Parlays
Hedging is a simple strategy that helps bettors secure a profit or minimize losses.
When your parlay is down to one last leg, instead of sweating that last game, you can choose to back the opposite of that final pick.
This will help you guarantee a profit, regardless of the outcome of the game.
For example, if the final bet in your 3-leg parlay is Team A to cover the spread, you can choose to back Team B to cover the spread in a different single bet.
So, let’s say that you had originally risked $100 and were going to win $600, you can now place $250 on Team B to cover the spread at standard odds (-110). This way, you will gain a profit of around $250 regardless of which team covers the spread.
Place Correlated Parlays
In correlated parlays, one bet’s outcome is indirectly related to the outcome of a different wager.
For example, if you expect the favorite to cover the spread in a blowout victory and you also expect a high-scoring game that surpasses the bookies’ o/u line, you can combine these two picks to form a 2-leg same-game parlay.
So if the favorite covers the spread, chances are, bettors who opt for the over will also win their bets.
Why don’t you include prop bets in your next same game parlay at DraftKings?
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