Draftkings Parlay Rules
May 13, 2019 The flip side — the part that makes parlays the darling of many bettors — is how sweet it is when these long-shot wagers do hit. A New Jersey bettor at FanDuel Sportsbook at New Meadowlands Racetrack experienced that side of the equation Friday night. His MLB/NBA six-team parlay came through, turning his $4,999 wager into a $525,867.50 payout. If you're new to betting, it's important to understand how odds work. Betting odds can be complicated, but we've broken down the basics to get you started. Odds tell you how likely an event or outc. For instance, if you wanted to create a Round Robin using teams 1, 2, and 3, the parlays that would be created from this Round Robin are: 3-team parlay: 1-2-3 2-team parlays: 1-2; 2-3; 1-3. DraftKings Parlay Optimizer. Generate optimal DraftKings sportsbook parlay bets. At Least One Favorite. Require at least 1 bet with 50% win probability. DraftKings Indiana: DraftKings is live in Indiana as of Oct. It is partners with Penn National Gambling, operators of racetracks and casinos in several states. DraftKings New Hampshire: DraftKings is live in New Hampshire as of Dec. DraftKings is the only mobile sportsbook operator available in the state.
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With online sports betting becoming legal in many states, big brands are working toward expanding across the US. Among these include DraftKings Sportsbook.
This site is also widely known for its daily fantasy sports (DFS) contests.
DraftKings recently merged with SBTech in a landmark deal that makes the new company the only US-based vertically integrated sports betting and online gaming company
DraftKings currently offers sports betting in NJ, PA, WV, IN, IL, NH, IA, CO, TN, VA and MI. In most cases, it has partnered with a local venue, opening the DraftKings-branded live sportsbook and app.
VA is expected to be the next states to join the DraftKings stable, with more sure to follow as online sports betting continues to be approved and regulated by more and more states.
When you sign up to DraftKings through our site, you automatically qualify for two bonuses worth up to $1,050. There’s an up to $50 free bet offer tied to your first deposit. That’s in addition to a 20% matched deposit bonus worth up to $1,000 on that deposit.
This guide to DraftKings Sportsbook provides a primer on how the app and website work, and shares info on bonuses and banking.
A parlay is a single sports wager that involves two or more bets combined into one. This can include point spreads, moneylines, totals, futures, or even prop bets, as long as the bets are on different games.
The allure of these bets has always been a larger payout than choosing a single team to win. But there’s more gamble to these types of wagers because every “leg” of the parlay needs to not lose in order to win. If one leg loses, the whole parlay loses.
The flexibility of a parlay bet also makes it attractive to gamblers. You can combine multiple sports into your parlay bet; for example, you can include the Cowboys from the NFL, the Celtics from the NBA and the Coyotes from the NHL into a single bet. If they all win, you win.
Test out the parlay calculator above and compare odds at different sportsbooks to see how it works!
Placing a parlay bet
There are two ways to place a parlay bet and both are quite simple. Bettors can either tell the ticket writer directly which teams and totals they’d like to bet on and how much they’d like to risk on the bet. Filling out a parlay card is the other option for placing this kind of bet. Once the card is filled in, the bettor simply needs to visit the sportsbook desk to place the bet.
Some mobile sports wagering apps offer both types of parlay bets.
Get the best parlay deal at online sportsbooks with Parlay Insurance here:
Winning a parlay
There are two instances when a parlay can be a winning bet. A parlay only wins if none of the sides, totals or moneylines selected is a loser. The parlay can still be a winner if a game is canceled or ends in a tie. The pay schedule will simply more down to the lesser payment. For example, the bettor will win if a baseball parlay for four teams has three winners and one game is canceled because of rain. The bet will only pay based on the schedule for three winners instead of four as originally planned. The bet is a loser if one pick for a parlay is wrong.
Parlay odds
Not all parlay payouts are the same. Sportsbooks may have different odds for the number of teams bet in a parlay. This can be very confusing when looking at online sports that have different odds and payouts for the same parlay. Further, these odds may change at any time so bettors should check with the ticket writer in sportsbook before placing a parlay.
Parlay payouts
Payouts for a parlay are fixed by the time the bet is placed. Even if the lines and odds for an individual game move, the parlay lines and odds won’t change from when the parlay bet was placed. The parlay bet won’t be changed whether the lines change for or against the bettor.
Football Parlay Rules
If the lines change for a game, or games, in the favor of the bettor another parlay may be bet with the new line. The original bet cannot be changed and the bet will stand. The good news is that the bettor has two live parlay bets.
Types of parlays
A parlay is a type of sports bet and there are different variations of this kind of wager. The most common types of parlays are Round Robin parlays and Teasers.
Round Robin
A Round Robin bet is placing multiple parlay wagers at once. It’s just that simple. Round Robin bets are just a way to simplify making multiple parlays. When a bettor “Round Robin’s” teams in sports betting it’s similar to a horse bettor “boxing” horses for an exacta or trifecta bet in a race.
The bettor will select anywhere from 3 to 8 teams or totals to be in the Round Robin. They will then choose how many teams or totals they’d like to tie together for the Round Robin. For example, a bettor may select eight teams and totals for a Round Robin and tie the parlays to as many three-team combinations as possible.
The combination of teams will dictate how many different parlays the bettor has. Continuing the example, if a bettor wants to Round Robin eight teams they will have 28 different parlays if they choose two teams. If the bettor chooses to make three-team parlays they will have 56 different parlay tickets.
The ticket will cost the amount chosen for each parlay. If the bettor only has $300 they might choose to Round Robin the teams by two, so they have 28 different parlays for $10 each. The payout for each winning parlay is the same as it would be if the parlay bets were each made individually.
Teaser
A teaser is similar to a traditional parlay where the bettor can select multiple teams or totals. However, there are no moneylines allowed with a teaser. Unlike a parlay, the bettor may move each point spread or total plus or minus a certain number of points. The additional points on the spread or total make these bets easier to win and thus they pay less than a traditional parlay.
Teaser bets can change the point spreads or totals anywhere from six to 10 points. However, each leg of the teaser must use the same number of points. Those legs of the teaser may go in different directions.
- For example, the New England Patriots -7 can be teased down six points to -1. Meanwhile, the Cleveland Browns can be teased up six points from +4 to +10 points.
Much like a traditional parlay, the more teams involved with a teaser the better the payoff. Again, different sportsbooks have different odds and rules so they might have different payouts and teaser options available to bet.
Parlay Cards
Draftkings Sportsbook Rules
The more popular way to bet parlays in casinos today seems to be with a Parlay Card. These are the long narrow cards where bettors fill in the numbered circle of the side or point spread they want to include in their bet. Once the teams and totals are chosen the bettor simply presents the filled in portion on the card to the ticket writer in the sportsbook along with how much they’d like to wager.
Draftkings Minimum Bet
Parlay Cards are especially popular during football season. There are many different types of Parlay Cards including a variety of teasers, ties win and reverse teaser cards known as pleasers. These are more popular every year so the mobile sports wagering apps have started to add Parlay Cards for mobile bettors.