Parlay Betting Sites: Best Parlay Betting Apps in December 2024

It’s hard to win parlays, but they’re very fun to bet on and can be quite lucrative. There are a few ways to set yourself up for success when betting on parlays, and we have you covered at WSN. 

Throughout this guide, we will break down the best parlay betting sites, and also some strategies on how to win. There are some critical features in parlay betting sites you need to know to set yourself up for success. You can find more about how we rate sportsbooks, here. Let’s get into the best parlay betting apps on the market! 

Best Parlay Betting Sites in December 2024

What Features Should a Great Parlay Betting Site Have?

One of the most exciting bets that users can go crazy for would be the same-game parlay feature. There was once a time when some states and books did not allow it to happen. However, it’s been here and it is capturing all of the headlines. 

The most basic definition of an SGP is taking two or more selections from the same game and turning it into a single bet. This enables the chance to combo a number of things that the bettor believes has a real chance of happening.

There are always going to be those who throw the bag at a single moneyline or over/under, but by doing an SGP, net gain is going to be even nicer. 

Take for example somebody very high on Nikola Jokic, believing he is going to record a triple-double in an NBA Finals game. Combining it with a Nuggets moneyline win is nice value to anybody interested in taking that side. 

All of the platforms with SGP as an option are in line to continue to rake in the money. With all the great parlay betting apps out there, there is no shortage. If you don’t have this ready for the bettors, a lot of opportunity would be taken away.

Parlay Insurance 

Something that not all sportsbooks are offering in 2023, parlay insurance is a major cog in trying to keep up with the best of them. If you create a seven-leg parlay and six of them hit, it would be a devastating blow. In some cases, no money will be given back, and it would simply be a loss, but parlay insurance is restoring a little bit of money back into the user’s account. Perhaps an injury to a key player on the losing team during the course of play led to this happening. A partial giving back of funds would then occur.

A lot of books generally require a parlay of at least five legs when determining if a refund were to be added in any way, shape, or form. Generally, the figure is not above $25, so it is not life-changing. Yet, it’s the chance to throw that new money into the game and when it leads to potential big wins, it carries a huge influence on the followers of a particular book. Parlay insurance matters, and keep an eye on it throughout the industry. 

Boosted Parlays

Plenty of parlay sportsbooks are out there, and it’s truly beautiful. What we have seen from a lot of them in recent years is boosted parlays. The literal definition of this is an increase in the potential payout on a specific play hitting. This makes any selection a bit more enticing before going through with it on the site. It would usually be catered to a major event that was already projected to get a lot of attention.

The biggest goal for a boosted parlay from the sportsbooks throwing them out is a nice profit turn. With all the attention it gets, should it fail to hit, it brings a nice amount back in and enables them to spend it accordingly. Sure, it is a bit risky because of the allure of the big books associated with the boost, but there is no reason to deny yourself the opportunity to earn a victory on one of these plays. It’s going to feel glorious when success does happen upon whoever made the choice to go through with the bet. 

Take all of the good and the bad, and make a proper decision as to accept or decline the boosted parlay and remember, there’s a reason the odds offerings are boosted. 

Cash Out

The best part of sports betting is cashing out early if the opportunity presents itself. It means taking part of the bet as a win if there is a feeling of doubt. The best time to do this is during the event in question. When a game hits halftime, if a long shot is close but not enabling a comfortable feeling, see if the option exists.

Betting $20 to win $2,500 and seeing a cash out of any number larger than what was put in is a huge victory. Almost all of the parlay sportsbooks keep it available as an option.

A Closer Look at Our Top-Rated Parlay Betting Sites

#1 FanDuel Sportsbook

At the top of the game is FanDuel Sportsbook, which has a great reputation everywhere. Some folks are likely using the product by flying to places where it’s legal, just giving it a test drive because it’s that good. 

They also offer a great daily fantasy game with great promos to boot. The SGP’s are not too far behind DraftKings, providing plenty of opportunity at fair value.

Of course, the biggest difference is the value and the odds of certain outcomes. It’s hard for a lot of books to compete with FanDuel, with the TV network they launched that is on 24 hours a day. The big names associated with it are almost enough to get it past DK. It’s a competition across the board, with the ads airing across major sports networks during the live events.

FanDuel’s parlay feature is as simple as DraftKings’, but it’s just a smidge behind. Everybody has their choice, and you can’t go wrong with either one of the sites. 

Read our in-depth FanDuel Sportsbook review. 

Pros:

• Rewards for loyal users

• Customer service is elite

• Limited restrictions for parlays

Cons:

• Slightly behind on SGP technology 

Sign-up Offer: 

• Bet $5, Get $150 in Bonus Bets if Your Bet Wins. 

Build Your Parlay at FanDuel Today

#2 BetMGM Sportsbook

BetMGM are all over the television world, with their ads coming out here, there, and everywhere. 

They are rated pretty highly and have long been one of the most respected brands. Of course, when folks go to casinos and resorts, there is a good chance it is a BetMGM location. They are popular well beyond Vegas now, and it’s been cool to see them rise. 

Their biggest issue has been payout speed, something folks have complained about. The user experience is great with the promos, as good as they are with any other sportsbook. 

They offer some quality parlay options, but they are just a slight rung below the top two. Some have complained about the odds not being as favorable, meaning a little less on payouts than with the big dogs. 

Make sure to at least try it before ‘ratting’ on it.

Read our full BetMGM Sportsbook review for a deeper analysis.

Pros:

• Great history in the gaming space 

• Continuously upgrading its mobile app

Cons:

• Not the best payout speed

• Great sportsbook, but still way off from DraftKings and FanDuel

Sign-up Offer:

• Get Up to $1,500 in Bonus Bets using our exclusive promo code WSNSPORTS.

Get Started with Parlay Betting at BetMGM

#3 Caesars Sportsbook

With some of the best advertising in the game, Caesars has transitioned smoothly into the online betting world from being a major casino brand. They offer quality odds and an insane sign-up bonus. 

Jamie Foxx convinces us through his advertisements that they are worth getting into 100% of the time. They have a lot of great ads, and JB Smoove has always been funny but is pure comedy for the company.

There aren’t many areas that are negative with them. They rate high across the board and have continued to grow in popularity. Everybody is still playing catchup with the top dogs, but Caesars has earned a great reputation in the industry and should be taken seriously as a major player. Watch their ads, and then decide if they’re worth it. Comedy works.

For more information, read our Caesars Sportsbook review.

Pros:

• The best ads and largest promos in the space

• Quickly emerging as a top-tier mobile option

Cons:

• The markets for props can be limited

• The company still has consistent issues with mobile technology 

Sign-up Offer:

• Bet $1, Double Your Winnings Your Next 10 Bets with bonus code WSNDYW.

Sign up at Caesars and Start Your Parlay Betting

#4 bet365

With some of the fastest payout speeds, bet365 has done well for itself in getting off the ground and becoming a big name. Their biggest issue is a lack of customer service, with no phone numbers available. It all has to be done virtually, so there could be issues and additional questions that aren’t answered.

They have good parlay options and are generally regarded as having quality odds. It is bland though, without an emphasis on graphics and visuals. A logo that doesn’t pop is certainly counted as a negative. 

Being called bet365 but not offering phone support struck me as slightly odd. It almost means they don’t offer around-the-clock service as the name indicates.

Read our full review of bet365.

Pros:

• Great European sports markets 

• The book is not flashy and easy to maneuver 

Cons:

• No phone support line 

Sign-up Offer:

• $1,000 Safety Net Bet OR $150 in Bonus Bets by using the promo code WSN365.

Sign up at bet365 for the Best Parlay Betting Experience

#5 BetRivers

Still figuring out ways to launch themselves into the tiers of the top dogs, BetRivers Sportsbook has been on its way to doing what it can to reach higher. They don’t offer all sports, with 20 total in their selection. They do offer weekly promotions, which keeps them afloat. 

They have drawn some ire for their customer service, which is not 24-hour. On the bright side, they do offer a lot of parlay insurance to bring folks back in after they suffer some key losses.

Unsurprisingly, they rank seventh out of the ten books listed here, but they can still go up. Longtime NBA head coach George Karl records a weekly podcast that BetRivers backs. If they can get more big-name media talent, it will help grow the sportsbook’s appeal. 

To learn more about this sportsbook, read our BetRivers Sportsbook review.

Pros:

• Great customer service for a small book during working hours

• Gives the ability to watch games directly from the app

Cons:

• Doesn’t have many alternate lines and totals

• Markets are limited outside of football

Sign-up offer:

• $100 Bonus Bet.

Sign up at BetRivers to Start Parlay Betting

#6 DraftKings Sportsbook

One of the most popular betting apps out there right now, DraftKings, has made a lot of positive headlines. They and FanDuel are at the top of the market as far as features and longevity. They have a very simple parlay-creation process, which makes it a lot of fun for users in that they won’t face many problems with the site. 

They also have a daily fantasy game available, which draws a lot of revenue and opportunity. A few lucky folks will win a five-figure sum each week, while others can just stick to the good old parlays. 

They have a great SGP feature, with a nice pre-built selection too. The NBA Playoffs have featured a lot of good opportunities for folks to try those out. They combine several outcomes; some come off as such a long shot to hit, but when they do, it couldn’t be more exciting. 

DraftKingsvgenerally pays within 24 hours, as long as the withdrawal amount doesn’t require an extra set of eyeballs to ensure it’s fair. 

Parlays are a lot of fun with DK and pretty easy to place. They are at the top of the chain for a reason. They know what’s good and how things go down. Read our full review of DraftKings Sportsbook.

Pros:

• Massive bonuses

• Quick payouts

• Great customer service 

Cons:

• Some markets are restricted for SGP

• Frequent technology errors in-game 

Sign-up Offer:

• Get a No Sweat First Bet up to $1,500 in Bonus Bets

What Is a Parlay?

There are plenty of ways to describe a parlay. Let’s get to the most basic version of the bet and if any questions still need to be answered at the end, head to our parlay betting guide for more info.

In simple terms, a parlay is a bet placed by combining two or more legs. A leg is just each individual bet within the parlay. The goal of a parlay is to try and increase the amount of money that a bettor can win by placing this type of wager. 

One-leg bets have a set amount of how much can be won based on the odds. With a parlay, the possibilities become endless, and there are all sorts of parlays on the market.

The other big difference between a parlay and a single-leg bet is the cashout time. Cashing out means taking money wagered on an existing bet and claiming winnings before the event comes to a conclusion. This is pretty common practice whether at halftime of a basketball game or during the sixth inning of a baseball game. 

When confidence is at an all-time high, there really isn’t a need for cashing out. It’s just a chance to claim some profit before potentially losing altogether and winding up with nothing. Parlays make betting more interesting for the masses.

How Are Parlay Odds Calculated?

As seen in the table above, parlay odds are calculated by taking into account the chance of victory, with all of the legs combined to make one percentage. For example, a -110 bet would net you $19.09 if you bet $10 on it. The money for the bet goes into it, and you would win the amount listed there. It’s pretty simple, truthfully, and most sportsbooks with the feature will do all of the math for you.

As more and more legs are added to each parlay, the chance to win more money presents itself. However, with more dough comes more responsibility, too. The percentage of victory drops for each one that’s added, which is what the intrigue is truly all about. 

At the end of the day, the most money-heavy victories are courtesy of parlay victories. It’s for the thrill of the game, the chance to go where no bettor has ever gone before, that makes this so enticing.

There are plenty of ways to check in on the nuances of parlay betting. Each book will offer the chance to learn more about how things are calculated, so make sure to take advantage of all the FAQ sections. They can be lifesavers. 

What Bets Can You Include in a Parlay?

There aren’t many types of bets that can’t be included in parlays. There is a pretty free range of motion to put all of them in. Futures bets can be allowed here and make for nice long-term projects as the live-action games take place. Over/under is a common one, with folks trying to determine how many points will (or will not) be scored over the course of the game.

Some other common ones include moneyline, favorites, and point spreads. Parlays always lead to added intrigue when following the sports events in progress. As a result of that, it will continue to be popular as long as the sports betting space is afloat. 

Are Parlays a Smart Bet?

Placing parlay bets has plenty of pros and cons, and it’s important to weigh all of them before actually going forward and letting it fly. 

Among the main pros is that it can lead to a much bigger payout than any single leg could in the industry. Putting multiple things together will automatically lead to higher returns if your bet hits. 

Yet, that same sentiment does, unfortunately, come with some negatives. With more outcomes needing to take place in order for a victory to be had, it becomes tougher. Watching a game becomes more stressful, with so many different things having to all occur to get that sweet feeling of success.

Some major books like FanDuel and DraftKings have started offering pre-built same-game parlays to allow folks planning to wager on a specific game the chance to trust their gut. A lot of the experts come in and create them based on odds from their competitors to try and offer the best value possible. 

The downside of agreeing to that though is that you’re allowing somebody else to do the research and not necessarily making the decision yourself. Be careful before deciding to take a parlay, but do keep in mind that sometimes they lead to some major victories.

How to Place a Parlay Bet

The beauty of placing a parlay bet should never be lost on the bettor, and the process of it is a lot of fun. The challenges of trying to go with the longest possible odds but still coming away with a win is what it’s about. And so we examine the process for how it happens. It’s pretty simple, actually. 

If the goal of a parlay is just to do a bunch of moneyline victories, simply click odds on whichever sportsbook app you’re using and just go down the line for a given sport. As soon as it’s highlighted, it’s locked. 

You can navigate through the program to pick out all the ones desired if it is going to cross multiple sports. It’s not too difficult in that part. Now, if this is a same-game parlay, it’s even more simple.

Highlight the given game you want to complete the SGP with and click on it. There will be a button on the ones that offer it, and multiple possibilities can now be had by clicking. The only thing not allowed there is choosing both a moneyline and a spread. Those have to be part of different bets, as they are part of the same type of line. 

The simplicity of placing a parlay bet is what enables them to be so popular and sought after by both big-time and small-time bettors.

Which States Have Legal Parlay Betting?

Parlay betting is legal in most of the 50 states. It's legal in:

• Arkansas

• Colorado

• District of Columbia

• Illinois

• Kansas

• Maryland

• New Mexico

• New York

• North Carolina

• North Dakota

• Oregon

• Rhode Island

• South Dakota

• Wisconsin

• West Virginia

• Wyoming

• Connecticut

• Washington

• Tennessee

• Pennsylvania

• Ohio

• New Jersey

• New Hampshire

• Nevada

• Montana

• Mississippi

• Michigan

• Massachusetts

• Louisiana

• Iowa

• Indiana

• Delaware

If you’re somewhere where you are unable to place a parlay, head to one of these states and let it fly. Check out where you can bet legally in the United States.

Parlay Betting Sites to Avoid

For all of the big-name sportsbook sites that absolutely rock, some of them are just bad to the bone. Don’t bet on any offshore sportsbooks as we have listed below. 

Take AmericasBookie, for example. Folks have complained of having problems withdrawing their money from them. The customer service is not the best, either. Their FAQ section also lacks the amount of help they have available to offer to any customers with questions. 

TopBet has had problems guaranteeing their users winnings, as they have sometimes not gotten what they were owed. Not all checks that are cashed in the form of winnings even come around. That’s another one that has gained a bit of traction in recent years but may want to be avoided. 

Carbon Gaming is another site not to use, as things are not up to speed with the rest of the game. These issues won’t happen at a DraftKings or FanDuel, where the bigger issues could be app speed during a live event. As too much is happening simultaneously, many of the smaller players in the betting market tend to struggle. As they get more attention and opportunities for themselves, the quality of the product shrinks.

These are the problems that can be seen with offshore books. We only list legal sportsbooks on our site, so stick with these options for a great wagering experience. Make sure to do extensive research on any parlay betting apps before deciding to make an account and deposit. 

Gamble Responsibly

As great as the highs of sports betting and winning can be, it’s also important to remember that it can be hazardous, and folks can overpay and lose money and belongings.

Therefore, anybody needing general information on help and hotlines across the USA can head to the National Problem Gambling Helpline, accessible by clicking the link.