To summarize, if you are still wondering “What does ‘parlay’ mean in betting?” think of it as a bet that compounds the risk-reward ratio in favor of the bettor, leading to a higher payout without increasing the required deposit. Things like NFL picks and parlays are very popular and sports bettors can go big on these types of wagers, so be sure to know the limit before you add a 12th team and start losing units! However, each sportsbook has a cap on how much they’ll payout for a parlay. As you can imagine, the payouts get substantially greater the more selections you add. Parlays can contain anywhere from two to 12 selections.

While they’re not difficult to understand, they can be hard to win, because if even one pick is incorrect, you get nothing. One of the most common questions our readers look at in our FAQs is “ What is a parlay bet?” Picks and parlays look complex at first glance, but they’re not.Īll that a parlay bet’s meaning boils down to is a bet where you make multiple picks and, if every single one is correct, you win.

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