It is straightforward to learn How to Bet Parlay on DraftKings Sportsbook! In a previous post, we went over the DraftKings Sportsbook site in detail, which covered how to sign up for an account, create a DraftKings deposit, and the DraftKings desktop webpage and DraftKings app work. This article will explain How to do Parlays on DraftKings Sportsbook betting site, What is a same game Parlay, and DraftKings same game parlay rules.
Other types of parlays are available on DraftKings. First, you are eligible for the classic welcome bonus. Then, register and get the DraftKings sportsbook deposit bonus match worth $1,000.
What Exactly Is A Parlay?
A ‘Parlay’ bet is a bet on the occurrence of multiple outcomes. To win a Parlay bet, players should correctly select all outcomes in the Parlay. To assess the odds for the Parlay, the odds for every same game Parlay picks are multiplied by one another.
In contrast to a straight bet, which allows you to wager on the outcome of a single game/event, a DraftKings sportsbook parlay enables you to gamble on different outcomes linked to one bet. The appeal to gamblers: Because the difficulty level is higher, same game parlay pay much higher dividends than single/straight bets.
DraftKings Parlay also allow bettors to analyze player and team-related prop markets in addition to traditional Moneyline, point spread, and Over/Under wagers. With the addition of same game parlay, today’s parlay possibilities are virtually limitless.
For example, combining New England at -150 odds with New York at +200 odds yields +400 odds. Bet $20 on the preceding two same game Parlay picks, and if New England and New York win, you’ll receive an $80 payout.
How to Bet Parlay on DraftKings Sportsbook
Now that we’ve discussed creating the best same game Parlay at DraftKings, let’s look at the DraftKings SGP rules and how you can jump in on the action.
Create an account with DraftKings. The straightforward procedure takes only a few minutes. Once you’ve established an account, you can deposit funds online or in a physical sportsbook. After logging in and financing your same game parlay DraftKings account, you can choose any sport or best same game Parlay today to bet on.
Here’s a step-by-step guide to creating and SGP betting in the DraftKings sportsbook app:
- To place a wager, locate the event or outcome you want to wager on and select to add it to your bet slip. The odds, represented by the green numbers next to each outcome, determine the possible payout. Players can add up to 12 choices to their bet slip at any given time.
- Click the center button on the app or the right-hand of your screen on the online platform to view your bet slip. You can access all the picks you’ve chosen that wish to be placed here.
- You can switch between Singles, Parlays, and The round Robins once you’re in the bet slip. Pick the amount you want to gamble, and DraftKings will calculate the potential payout.
- Once you’ve confirmed your free picks and parlay like the NFL same game Parlay or NBA same game Parlay, and bet amount, click ‘PLACE BET’ to secure your wager. You will be given a receipt for each bet you place.
- By going to ‘My Bets,’ you can see all of your receipts and monitor the results.
Can You Payout a Parlay on DraftKings Early?
Bettors can cash out a parlay at varying periods on DraftKings. Cashouts happen when a bettor agrees to accept a lower payout on a parlay that is still “live,” meaning that not all legs have been decided.
Cashouts are accessible both before and during the start of a game or event. There have been two examples of cashouts, one pregame and one in-game:
Let’s take a closer look at the preceding example and assume you’ll bet a total of $20 on the two games. You can bet $10 on the Titans -10 and the Chargers -4.5 here on the NFL DraftKings page.
The DraftKings gambling site charges a vig (or a percentage of your wager) of -110 for every one of these single-game NFL bets, implying that the site keeps 10% of your bet. So, for example, if you won both bets, your two different $10 bets would return you $38.20. However, if you instead placed both of these bets as a $20 parlay bet, DraftKings will reimburse you $72.96.
To summarize, if you placed a parlay bet and won both games, your return for the same $20 in total bets is $34.76 higher than if you put two separate single-game wagers based on the same games.
The odds increase as the number of games in parlay increases. By including the third game in your NFL DraftKings parlay bet, your odds rise to +608 from +265 for your two-team parlay gamble. Of course, winning a parlay bet becomes more difficult as the number of teams increases.
How Much Can a Parlay Win You?
The sum of money you can win on parlays is determined by three factors: the number of legs in your Parlay, the total betting markets, and the amount of money you risk once you place the Parlay.
For example, a $10 wager on a six-team parlay with odds of +12000 pays $1,200, whereas a $100 three-team parlay with odds of +600 pays half that amount ($600).
As previously stated, most sportsbooks, including DraftKings, have a maximum number of legs allowed in parlays and a maximum number of customers who can win. Some bettors, particularly professionals, find these restrictions burdensome. Still, sportsbooks involve them for two reasons: to limit their financial obligation and to keep bettors from putting large sums of money on wagers with little chance of winning.
Can I Place Bets on Multi-Sport Parlays?
DraftKings, like the majority of its competitors, allows multi-sport parlays. So do you want to combine your preferred NFL same game parlay, college football, NHL, and the teams on NBA same game parlay? Take a chance.
The games do not even have to be on the same day. Your Parlay will remain active as long as the legs of your Parlay continue to win. The best part is that the odds and payouts are the same whether you stick with a single sport or include different sports.
So, a four-team parlay with all NBA point spreads at -110 odds pays equal to a four-team parlay with one NBA, one NFL, one college football, and one college basketball game all at -110 odds. You can also try out MLB same game parlay.
Another advantage that DraftKings provides is the skill to parlay futures bets throughout multiple sports. That means you can combine the Green Bay Packers to win the Super Bowl, the New York Yankees to capture the World Series, and boxer Canelo Alvarez to win his upcoming battle in a parlay.
Other Popular DraftKings Parlay Types
Although DraftKings same game parlays are becoming more popular, DraftKings offers a variety of other types of parlays. These are some examples:
- Moneyline Parlay: A Moneyline parlay consists of selecting two or more teams/player props to win regardless of the margin of victory.
- Point Spread Parlay: The primary distinction between a point spread Parlay and a Moneyline parlay.
- Over/Under Parlay: An additional popular gambling industry, over/under parlays, concentrate on the final score of various games that go “Over” or stay “Under,” a number set by the oddsmakers.
- Player Prop Parlay: These bets are based on how certain players perform statistically significantly in their respective games.
- Futures Parlays: These allow bettors to wager on events and results that may occur tomorrow, by next, next month, or six months in the future.
Make A Parlay Bet
Select the Parlay tab at the top of your Bet Slip to make this a parlay wager. When you do, Parlay will be highlighted in green, and DraftKings will convert your stake to a parlay. Next, you’ll input your total gamble for the Parlay below the games. As you will see, your potential reward for the same $20 bet has increased to $79.59 if both games win, as they return odds of +298 when combined.
When you’re ready to place your wager, try clicking the big green Place Bet button at the bottom of the Bet Slip, and DraftKings will recognize it. Make sure you fully understand the DraftKings SGP rules to enjoy the SGP feature DraftKings.
Many sportsbooks use a parlay builder when creating same-game parlays. Basic sense, this is a tool that assists bettors in developing their personalized parlays.
You can easily add options, skim through available markets, and modify your picks using a parlay builder. Fortunately, DraftKings offers its improvised parlay builder.
Go to the game you want to wager on, and then tap on the same-game parlay button to use DraftKings’ parlay builder.
When you turn on the toggle, you’ll be able to establish and customize your parlays quickly.
Betting Strategy for Parlays
Parlays are good if you want something that will give you a significant return. Still, if you seek to reap the benefits of parlays, in the long run, you must approach parlay betting strategically.
Here are a few tips to assist you in profiting from most of your parlays and wagering rules at DraftKings.
- Choose Lesser Selections: You can still opt for the 10-team long shot now and then, but you’ll want to limit the number of legs in your parlay most of the time.
- Hedge Your Parlays: Rather than sweating the final leg of your parlay, you have the option to back the contrary of that final pick.
- Place Correlated Parlays: In correlated parlays, the outcome of one bet is indirectly related to the outcome of another bet. So, if the favourite contains the spread, bettors who choose the over are likely to win their wagers.