Online sportsbooks often limit bettors to placing parlays involving a single game or sport to qualify for insurance. While that sounds like a great deal, and it can be, sportsbooks often impose restrictions on parlay insurance promos, most of which diminish their value. Parlay insurance helps mitigate such stinging defeats by offering bettors their money back when any one bet on their parlay ticket loses. Losing one leg of a multi-leg parlay is akin to one’s horse coming up on the wrong end of a photo finish or losing with a 20 against a dealer 6 in blackjack. There’s no worse feeling in gambling than coming up just short of a big win. The only real restriction is that parlays cannot be correlated unless the book explicitly states that it accepts same game parlays. Parlays can comprise a combination of many different wagering formats, including moneylines, point spreads, props, futures, derivatives, and more. If one or more legs end in a no contest or draw, they drop from the ticket, and the sportsbook adjusts the payout in accordance with the reduced odds. There is one exception to the “all or nothing” rule of parlays. As a result, the odds on this parlay are +650.

As an example, consider a simple $10 parlay with each leg priced at -200, +300, and -400:Īfter rolling over the winnings from one leg to the next, the bettor in this example stands to win $75 on an initial $10 wager. The winnings from each leg roll into the next. For the ticket to cash, each bet (or leg of the parlay) must win. A parlay is a single ticket comprised of multiple bets. Parlay Insurance: Tips and Optimal Strategyīefore diving into parlay insurance, it’s essential to know what a parlay is and how it functions.Which Sportsbooks Offer Parlay Insurance?.

Same game parlay fanduel rules