We all know that Parlays are long shots, so what could be better than using the bonus money that sportsbooks are handing out to bet on them!
There are several types of bonuses to watch out for which could benefit your next Parlay.
Boosted Odds Parlays
How The Parlay Plus Promo Works
Taking advantage of BetMGM’s Parlay Plus promo is easy — just follow this 4-step process:
- Click this link to register at BetMGM Sportsbook.
- Opt-in to the Parlay Plus Promotion.
- Place a 4-7 leg parlay wager with a maximum stake of $1,000.
- If your first qualifying parlay of the day wins, you’ll receive a profit bonus based on the number of legs:
– 4-leg parlay – 15% profit boost
– 5-leg parlay – 20% profit boost
– 6-leg parlay – 30% profit boost
– 7-leg parlay – 40% profit boost - Additional profit boost winnings will be awarded in the form of free bets.
For example: if a player wagers $100 on a 5-leg parlay with +500 odds and wins, they will receive $500 in winnings, their original $100 stake, and an additional $100 in free bets from the 20% profit boost.
Bonus free bets will be awarded within 24 hours and will be valid for 7 days.
Boosted Odds are becoming an increasingly popular bonus at the moment.
Sportsbooks may decide to offer a special price on any given market.
For example, you might see something like:
- Julio Jones Anytime Touchdown +130, now +300
You can use promotions such as these to increase the payouts of your parlays.
We’d still recommend caution and going small on those parlays, but by playing the boosted odds strategically, it’s possible to get some value.
Risk-Free Bets Parlays
Sometimes books will offer new users risk-free bets when opening an account.
This could either be in a balance that is being added when the account is opened or money that is refunded if bets are being lost.
Many books will allow you to place these risk-free bets on longshot bets such as parlays.
While some books may have limits on the maximum odds they will allow you to bet, most of them tend to be quite liberal with their limits.
So if you have a hunch, why not use the books’ money to test it!
Deposit Match Parlays
A deposit match bonus is an offer where the sportsbook will match what the user puts into their account.
This is usually only applied to first-time deposits.
If you’ve made the decision to open a sportsbook and you’ve done your research (or using the research we did for you by checking out our sportsbook reviews at BestOdds.com), you are now ready to deposit some money.
Take some of the free money that the book is giving you and throw it at some of these long shots.
We suggest you use the money you’ve deposited to play on more probable bets or to just route for your home team.
But with the money that the book is giving you, take a risk and put some $1 parlays out there as this is a better value when betting parlays.
If you want to check out all the latest bonuses available at the books, check out our overview here.
There is more than $18,312 available at the moment across more than 25 sportsbooks!