NFL Parlay Bets Explained: What Every Bettor Needs to Know

Think you’ve got this NFL season figured out? Well, if you’re eyeing those parlay bets, you’d better buckle up. Parlays can be a sweet ride that turns small stakes into big wins—but they can just as easily leave you with a sad, empty wallet. Before you jump in, here’s everything you need to know about NFL parlay bets, explained in plain English (no confusing jargon allowed).

Table of Contents

What Is a Parlay Bet?

Alright, let’s start with the basics. A parlay bet is when you combine 2 or more bets into one single wager. For example, you might bet on:

The Eagles to cover the spread.
The Packers to win outright.
And bonus points if the Ravens’ total points go over 44.5.

Here’s the catch (and there’s always a catch). To win a parlay, EVERY. SINGLE. ONE. of your picks—or “legs”—has to hit. If even one bet fails, your entire parlay goes down in flames. No partial credit here, folks. But the upside? The payouts are WAY higher than betting on each game individually. Risky, yes. Potentially rewarding? Also, yes.

Why Bettors Love Parlays (and Why They Hate Them)

Love it:

Big Payouts

Parlays are like the lottery of sports betting. Bet $10 and hit a monster 5-leg parlay, and you could end up with hundreds (or even thousands). It’s the stuff of dreams, my friends.

High Entertainment Value

Parlays give you more action for your money. That $10 bet? It’ll have you sweating every game on that ticket, keeping the excitement alive all Sunday.

Hate it:

Hard to Win

Newsflash: Picking one winner is tough. Picking five, six, or more? That’s like hitting a bullseye blindfolded—it’s possible but not very likely.

They’re Sneaky Profitable (for the House)

Sportsbooks love parlays. Why? Because inexperienced bettors often chase unrealistic odds, stacking longshots without understanding the math behind it—essentially handing money to the house.

How Do Parlay Odds Work?

The payouts for parlays depend on how many legs you include and the odds of each leg. Most sportsbooks use a set pricing system for parlays. Here’s how a basic 3-leg parlay might stack up:

Bet 1 odds: -110
Bet 2 odds: -110
Bet 3 odds: -110

If all three legs hit? That $10 bet could pay roughly $60 to $70 in winnings (depending on the book).

Now, throw in a big underdog with +300 odds, and suddenly your payout skyrockets. Tempting, right? Just remember—the more legs you add, the harder it is to cash that ticket.

Pro Tips for NFL Parlay Bets

1. Avoid Overloading Your Ticket

Keep your parlays limited to two or three legs max. Sure, building a 10-leg parlay with every Sunday favorite is fun, but the odds of winning are hilariously low.

2. Key in on Your Best NFL Picks

Stick to bets you feel most confident about—whether that’s spreads, moneylines, or totals. Don’t throw in the Jets winning just because it boosts the odds (trust us—you’ll regret it).

3. Look for Value Plays

Big payouts are great, but betting huge favorites (like -400 or worse) in parlays is a profit-killer long-term. Find value in moderately priced NFL picks, like -110 or underdogs you genuinely believe in.

4. Use Free Bets for Parlays

Many sportsbooks offer free bets or promotions for new customers. This is the perfect way to try a parlay without risking your own cash. If it doesn’t hit, who cares? It’s the book’s money, not yours.

5. Check for Same-Game Parlay Options

Some books now allow parlays within a single game. Want the QB passing over 250 yards, the star receiver scoring a TD, and the total going over 48? Same-game parlays are a fun twist—just make sure all your picks fit the game’s narrative.

Should You Bet Parlays?

Here’s the honest truth about parlays—they’re a fun side dish, not the main course. Casual bettors often use parlays for entertainment, but professional bettors largely stick to straight bets (aka singles). Do they win less in total payouts? Sure. But they win more frequently, which is what matters for long-term success.

Treat parlays as entertainment, not a steady bankroll-builder. If you hit one, celebrate like you just caught a game-winning Hail Mary. Just don’t mortgage the house chasing that multi-leg miracle.