There’s nothing like enhancing your enjoyment of watching sports than by placing a wager at an online sportsbook. This puts you right in the middle of the action, with some skin in the game, as they say.
Let’s take a look at how to place a parlay bet at Bet365 Sportsbook, one of New Jersey’s newest online sportsbooks.
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How to Place a Parlay Bet at Bet365
When you want to place a parlay bet at Bet365 sportsbook, you first need to navigate to the games that you want to wager on. For this example, we’ll use games in Major League Baseball, since there are multiple games going on at the time of writing this.
When you click on the Baseball link on the tab on the left-hand side, you will be given a complete listing of all the games that are available for wagering today in Major League Baseball.
To make your selections, all you have to do is hover over the wager of your choosing and click. Once you do that, your selection will be highlighted in white in the middle of the screen, and your bet will appear in your Bet Slip, which pops up on the right.
To make this a parlay bet, all you will need to do is make at least one other selection, so now your bet slip contains at least two games. You then can enter your wager amount where it says “2 Team Parlay” under the Parlay Options header, and then click the yellow “Place Bet” button.
Once you have placed your bet, your Bet Slip will change to show that your bet has been placed. It will confirm your selections and give you a bet reference number at the top.
The Difference Between a Straight Bet and Parlay Bet
Where the fun begins with parlay bets is the increased odds you can get from making this type of bet.
As you can see in the example of our Bet Slip, the Atlanta Braves are favored with odds at -150 against the Colorado Rockies, while the Philadelphia Phillies are favored at -145 against the Pittsburgh Pirates.
If you were to bet $5 on each of these games, you can see that a win in the Braves game would return you $8.33, while a win in the Phillies game would return you $8.44.
Your other option, though, would be to make this a 2 Team Parlay. If you decided to wager that same $10 total on these two games as a 2 Team Parlay, you can see that your potential return would be $28.16.
By placing this wager as a parlay, you have increased your odds significantly. In fact, if both of these games win, you will end up winning $11.39 more by placing a $10 2 Team Parlay bet than if you made two separate single-game bets of $5 each on these same games.
Parlay Bet at Bet365 Conclusion
Placing a parlay bet, in general, can be a great way to enhance the excitement of watching sports, even more than simple single-game wagers can. As you can see from this example above, your odds will increase substantially if you place a parlay bet versus separate single-game bets, even when you’re risking the same total amount. Your odds increase incrementally as you add more teams to your parlay bet slip, too.
In return for these high odds, though, is a higher chance of losing your wager. That’s because, in order for your wager to be successful, each and every game on the Bet Slip must win. If even one of them loses, you will lose the entire wager.
There is another way of parlay betting that would allow some of the teams to lose and your parlay bet still cash in. Find out by reading our Round Robin Parlay guide.