Skip to content
All terms
AllBetting

Parlay

A single bet combining multiple selections — all picks must win for the parlay to pay out.

Full Definition

A parlay combines two or more individual bets into one wager where every selection must win. The payout increases with each added leg because the probabilities multiply. A 4-leg parlay at -110 each pays roughly 12:1, but the true probability of all four hitting is only about 6.25%. Parlays have higher vig than straight bets because the sportsbook's edge compounds. Correlated parlays (where outcomes are related) can offer better value, but most books limit obvious correlations.

What's a good Parlay?

Parlays are high-risk. Only parlay when each individual leg is independently +EV. Limit to 2-3 legs.

Related terms

Prop Bet

A bet on a specific player or game statistic rather than the overall outcome.

Expected Value (EV)

The average amount you expect to win or lose per bet over time, based on probability and odds.

Vig / Juice

The sportsbook's built-in commission on every bet, typically around 4.5-10%.

Put this stat to work

HeatCheck HQ gives you Parlay and dozens more stats across every All game — free to use, updated daily.

Sign Up Free