Parlay betting is probably one of the most popular forms of sports betting in the world. Most gamblers have probably placed at least one parlay bet in their betting career. Parlay gambling attracts players who want to string together a series of bets and go for a huge payday. There is a special risk associated with parlays. If you don't hit all the legs in the parlay, you lose the bet. However, the potential payout is what makes parlays such an enticing prospect.
Learn about parlay betting in New Zealand with this complete guide for online bettors. We have gathered the best parlay betting odds from online sportsbooks to help you make an informed bet. Our expert tipsters will provide you with the best parlay betting strategy for different types of sporting events you can find in New Zealand and around the world. Discover our top sites for parlay betting that you can sign up with today.
Best Parlay Betting Sites 2025
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Parlay Betting Explained: What Is Parlay Betting?
In the world of sports betting, line after line offers all kinds of odds. If you win but don't get paid much, you might choose to pick more than one team on a single ticket. That midday parlays exist for a reason - people bet on them. Sure, they increase your stakes, but they also increase your potential payout; that's the appeal. To get a sense of what parlays can do for you, let's first break down how to win one. A parlay is a bet on multiple selections within the same wager. Unlike a straight bet, you can combine either sides or sums for up to 15 different outcomes. Your parlay is not a winner if any of your selections don't hit (they all have to). But when you do, your payout is something to behold.
At New Zealand betting sites you can explore different types of parlay bets depending on how much you want to win. Betting on a 15-team parlay can be done every single week and offers the opportunity to mix sports to increase your payout. Taken together, these different types of bets on the same outcome make up what's known as a Parlay.
Should You Bet Parlays?
There is no clear answer to the question of whether or not to put money down on parlays. While they are not often won, sportsbooks make a lot of money from this increasingly popular type of betting. The odds of us winning any given parlay don't seem as high as they should be, given the reams of paper that get written whenever a parlay hits (especially for the way those of us who hit the parlay might get reamed when we try to cash it out). But the potential payouts are still very attractive given the amount of money we have to risk to play them. Those of us who are a little more experienced and a little more confident might see parlays as an excellent way to maximize our ROI. But newcomers to sports betting should really focus on the more straightforward individual bets before diversifying into parlays.
Remember that trust in the process is the key to sports betting. You shouldn't think of parlays as a reliable long-term strategy for piling up winnings, but betting a few dollars to potentially win a lot can be a fun and exciting way to play sports. There's also a good case for using parlays to hedge your bets.
Types of Parlay Odds & Payouts
Understanding that parlay works best when you have a plethora of bets on your card, you can combine numerous lines to increase your return. This is a compilation of some of the most popular parlay combinations selected by online players from New Zealand:
- Money Line Parlay Bets - This bet involves selecting the outcome of more than one tie in a single bet. All the teams you have picked as favorites must win their respective games for the bet to pay out.
- Futures on parlay bets. A player can base a parlay bet on predicting the tournament winner. They can also base it on predicting each game of the team that is picked to win during the round-robin phase of the competition.
- Over/Under Bets - Players who are hesitant to bet on the exact score of several teams can predict the cumulative score of each game. This is a relatively safe bet because each league competition usually has a hoped-for average number of goals per game over time.
- Point Spread Parlays - Bets in sports parlays include point spread bets, where teams are picked as favorites to win by a certain number of points. This bet does not increase the payout unless players use a strategy.
Pros Of A Parlay Bet
Combining two or more individual bets into one larger bet (and thus making it a larger type of sports bet) is called parlay betting. And as we mentioned above, there are several advantages to doing this. One of these benefits is the potential for bigger payouts. That's because when you win a parlay, you're not just winning a series of individual bets; you're also winning a multi-way win, because the parlay involves a series of outcomes that must all occur for the parlay to win.
Cons Of A Parlay Bet
Parlay Sports Betting Betting on the outcome of multiple events is what parlay sports betting is all about. With this type of bet, you combine all of your individual bets into one for the chance to win a much larger payout. Unlike straight bets, where you bet on the outcome of a single event, parlays can pay off big. Straight bets are also less risky. That's because with a parlay, all legs of the bet must win in order for you to make a profit.
Parlay betting is a popular form of sports betting in which you place multiple bets on a single event or multiple events in exchange for the chance to win substantially larger payouts than you would get from placing the same bets individually. However, parlay bets also have one of the largest house edges, which means they are one of the more expensive bets to place in sports betting. Understanding the costs and potential rewards associated with parlay bets is an essential part of winning at sports betting.
Think carefully about what I just said. When you lose money, you are less likely to be able to control how much you want to gamble. Not only do parlay sports bets have poor odds, but those odds are deceptively packaged. Parlay bets, by their very nature, require the bettor to make multiple selections and get them all right.
Sports Parlay Betting System
In order to win all your bets, you need to use the best parlay strategy. There are different betting tactics for different situations, and they all depend on the performer fulfilling the conditions necessary for you to come out on top at the end of the day.
- In general, the most common bets that players make are two-team or three-team parlays. You can increase the odds of hitting a parlay by placing a substantial amount of money to make the bet worthwhile. However, this is safer than betting on more than three lines on the same ticket.
- Most players mix and match parlay betting lines to take advantage of the different odds in different betting markets. For example, you might bet on a basketball playoff game and a cricket match to increase your overall odds.
- Players should understand that the way they combine their bets directly affects the payout. Money line parlay bets will only return a large dollar amount if a player has bet on a series of upsets. That is, parlaying a series of underdogs (with all the inherent risks that act like a set of dice) will only yield a big payday if the underdogs used somehow win. At least that is how the money line and its associated payouts work.
- It is also a good idea to understand how the parlay calculator works. The odds on each bet are calculated by the bookmaker. Therefore, as the parlay bet increases, so does the risk and the amount the bookmaker charges.