To win the parlay, you must correctly select the outcome of every event included. Parlay bets are sometimes referred to as multi bets or multiple bets. For example, a parlay with four games or legs in which only three of the picks win will be considered a loss, and you will surrender your wager.

Each outcome included is called a ‘leg’, and every leg must be successful for the parlay to ‘stand’ as a winner. With a parlay, you can combine multiple wager types ( bets against the spread, moneyline bets, over/under betting, etc.) into a single stake. When you wager on two (or more) games at once, your chances of success get smaller, but your payouts get significantly bigger. A parlay is a bet that connects the outcomes of multiple sporting events in a single wager.