What's a Parlay?

In our 'Better Bettor' series, Tipico Sportsbook explains betting terminology and concepts in the sports betting world.

A parlay is a bet that combines two or more separate outcomes for higher odds and a potentially greater payout. They can combine bets in the same game or in multiple different games.

For example, let's say Cleveland is playing Baltimore and Cincinnati is playing Detroit. It's been 27 years since the move, but it might as well been last night, and we already know you don't give a darn for the whole the state of Michigan, so you decide to take both Cleveland and Cincy as outright winners in a parlay.

Parlays can include as many bets as your sportsbook allows with each added leg increasing the possible payout. However, every leg of the parlay -- in this case, Cleveland and Cincinnati -- must win for the parlay to win. If any leg loses, the bet loses.

Like bringing groceries in on one try, each added item makes the trip a bit more risky, but that much more satisfying when it works.