Parlay Rules To Be Aware Of

Each sportsbook has its own set of rules for parlays, which may vary based on the types of bets they offer, their policies, and even the sports they cover. To ensure you fully understand how your parlay works, always read the rules provided by your sportsbook of choice.

That being said, some rules are consistent across most sportsbooks. These rules address key aspects of parlay betting, including correlated bet restrictions, how voided or tied bets are handled, and limits on the number of legs or payouts. Familiarizing yourself with these general guidelines will make your betting experience smoother and help you craft smarter parlays.

Correlated Bet Restrictions

Sportsbooks typically restrict correlated wagers in parlays to maintain fairness and limit risk. A correlated wager is when the outcome of one bet heavily influences the outcome of another. For example:

• Betting on a team to win the first half and also betting on that same team to win the game.
• Wagering on a pitcher to record more than 7 strikeouts and the opposing team to score fewer than 3 runs.

Allowing these types of bets in a parlay would give bettors an unfair edge, as the outcomes are closely linked. This is why sportsbooks often deny parlay combinations involving correlated bets. Instead, they encourage bettors to place separate, unrelated wagers to maintain the integrity of the odds.

Push on a Parlay Bet

When a wager in a parlay results in a push, it’s not the end of your parlay. A push occurs when the final score lands exactly on the point spread or total, effectively resulting in no winner.

For example, if you bet on a game where the total is 48, and the score ends at 24-24, that leg would be a push. In this case, sportsbooks usually treat the push as if the leg didn’t exist, adjusting the parlay to exclude it.

• A four-leg parlay with one push would be recalculated as a three-leg parlay.
• Your payout is reduced to reflect the smaller number of legs but remains active unless all legs push.

Some sportsbooks have specific rules for how they handle pushes, so always check their policies to understand how it could impact your wager.

Ties and Voided Bets

Tied or voided bets in a parlay are handled similarly to pushes. When a tie occurs—such as in a player prop bet where a player hits exactly the stat line you wagered on—it does not result in a loss. Instead, the sportsbook removes the tied leg from the parlay.

Voided bets occur when:

• A game is canceled or postponed indefinitely.
• A player in a prop bet doesn’t play or is ruled out before the game.
• A market is declared invalid due to unforeseen circumstances.

Once the leg is voided, the parlay is recalculated without that leg. It’s worth noting that some sportsbooks might have different rules for specific sports or bet types, so always double-check.

Fixed vs. Adjusted Parlay Odds

When placing a parlay, sportsbooks generally calculate the payout using fixed odds, which are determined based on the number of legs in your wager and the odds of each individual bet. However, these fixed odds can change once certain events occur.

For instance:

• If a leg in your parlay is voided or tied, the sportsbook will use adjusted odds to recalculate the potential payout.
• Adjusted odds reflect the updated risk and reward for the remaining legs, often resulting in a lower payout than originally anticipated.

This is important to keep in mind because the payout displayed when you first place the bet assumes all legs are active. Changes like voids or pushes can significantly affect your potential return.

Restrictions on Number of Legs

The number of legs you can include in a parlay is often capped by the sportsbook. While limits vary, most sportsbooks allow between 10 and 20 legs in a single parlay. Some may even offer special “mega parlay” promotions that permit a higher number of legs for specific sports or events.

That said, more legs mean greater risk. Each additional leg must win for the parlay to pay out, which exponentially increases the odds of losing. This is why some sportsbooks might limit the number of legs to prevent bettors from creating unrealistic or excessively risky wagers.

If you’re new to parlays, consider starting with fewer legs to increase your chances of winning while getting a feel for how they work.

Parlay Payouts

Sportsbooks often place restrictions on maximum parlay payouts and maximum bet amounts for parlays. This means that even if your parlay theoretically calculates to a massive payout, there may be a cap on how much the sportsbook will pay out.

For example:

• A sportsbook might cap payouts at $500,000 or $1,000,000, regardless of your parlay’s calculated odds.
• Similarly, some books limit the amount you can wager on parlays, especially when they include high-risk legs.

Many sportsbooks now offer early cashout options, allowing bettors to settle their parlay before all legs are complete. This feature is especially useful if most of your legs have hit, and you want to lock in a profit without risking the final outcomes.

Find More Rules at Your Sportsbook of Choice

While the general rules outlined here provide a solid foundation, every sportsbook operates a little differently. Some may allow more flexibility in parlay building, while others may have stricter restrictions. To avoid surprises, always check the specific rules and policies of your sportsbook before placing a bet.

Understanding the rules will help you make smarter bets, avoid unnecessary risks, and maximize your enjoyment of parlay betting.