Parlay betting is probably one of the most common sports wagers in the world. Punters have probably made a parlay bet on at least one occasion in their betting career. Parlay gambling is mostly picked by players that want to combine multiple bets in order to get a huge payout. There is a general risk that comes with sports betting parlay, however, the payout justifies the risk involved.
Discover how does a parlay work in betting in our comprehensive guide for online punters in New Zealand. We have collected the best odds for parlay betting online to help you make an informed bet. Our expert tipsters have provided the best parlay strategy for different sporting competitions you will find locally and internationally. Find our top parlay betting sites in New Zealand that you can sign up to and start winning today.
Best Parlay Betting Sites 2025
|
Operator
|
Bonus
|
Features
|
Claim Now
|
|---|---|---|---|
|
100% Match
Up to 600 $ |
|
|
|
Welcome package:
|
|
|
|
100% Match
Up to 23000 $ |
|
|
|
100% Match
Up to 900 $ |
|
|
|
100% Match
Up to 1800 $ |
|
|
Parlay Betting Explained: What Is Parlay Betting?
In the world of sports, bettors encounter numerous betting lines that feature all types of odds. When your selection does not pay out a lot, players begin betting on more than a single wager. A progressive parlay bet involves betting on more than one team in a single betting slip. This choice may change your luck. The addition of more bets increases the odds and ultimately the overall payout. Gamblers must remember that in a parlay, your bet only wins when all your predictions are successful.
You will find different types of parlay bets, and the combination is based on the amount that a player wants to win. One can make 15 team parlay wagers every single week, mixing different sports to raise the total payout. Here’s a compilation of the various parlay options online you can explore at New Zealand betting sites.
Should You Bet Parlays?
There isn't a definitive answer to the question of whether or not to bet on parlays. While mathematically parlays are not often won, sportsbooks make substantial profits from this increasingly popular type of wager. The odds of winning any given parlay may not be as high as they should be, but the potential payouts are still very attractive. Experienced sports bettors who are very confident may find parlays an excellent way to maximize their return on investment. However, newcomers to sports betting should focus on individual bets to build their bankroll before considering parlays. If a parlay bet is still appealing, it's best to start with a low bet amount since the odds of winning are much more challenging than with a straight-up bet.
It's essential to remember that sports betting requires trusting the process. Parlays shouldn't be viewed as a long-term money-making strategy, but rather as a way to add some thrilling entertainment while responsibly betting a few dollars for the potential of a massive payout. Additionally, parlaying presents opportunities to hedge your bet.
Types of Parlay Odds & Payouts
Seeing how parlay works better when you have more bets on your card, you can combine several lines to make your payout increase. Here’s a list of some of the most popular parlay combinations that New Zealand punters pick online:
- Money Line Parlay Betting – this bet involves selecting the result of more than one tie in a single bet. All the teams you pegged as favourites must win their respective games in order for the betting card to payout.
- Parlay Futures – a punter’s parlay betting card can consist of predictions on the winner of the tournament including every game of the team pegged as the winner during the round robin stage of the competition.
- Over/Under Bets – players that are apprehensive on betting on the accurate result of multiple teams can predict the total points of each game. This is a relatively safer bet to make because each league competition generally has an expected average number of goals per match over time.
- Point Spreads Parlays – parlay bets in sports also includes point spread bets that have teams pegged as the favourites having to win by a certain point margin. This bet increases the payout only when players employ a strategy when betting.
Pros Of A Parlay Bet
Parlay betting involves combining two or more individual bets into a larger one, and there are several benefits to this type of sports betting. One advantage is the potential for higher payouts since the winnings are multiplied if all individual bets are correct. Additionally, parlay bets can lower risk as all individual bets must be correct to win. Although this means that the entire parlay is lost if any individual bet is incorrect, the excitement of a big payout adds an extra level of thrill to the betting experience. Moreover, parlay bets are convenient as they save time and effort by combining multiple bets into one.
Cons Of A Parlay Bet
Parlay sports betting is a form of betting on the outcome of multiple events. With this type of bet, bettors combine all their individual bets into one for the chance to win higher payouts. Unlike straight wagers, higher payouts come with more risk as all legs of the parlay must be successful for a bettor to see a winning return.
Parlay betting is a popular form of sports wagering which involves placing multiple bets on a single game or multiple games in exchange for the chance to win larger payouts. However, it also comes with a high house edge due to the multiplying of odds, making it one of the more expensive types of bets available. Knowing the costs and potential rewards associated with parlay betting is an essential part of winning at sports betting.
If you're thinking about getting into parlay sports betting, it's important to know that this type of wager generally loses more often than individual bets placed separately. This could potentially make it harder to manage your bankroll and practice responsible gambling.
Sports Parlay Betting System
For you to get all your bets correct, you have to use the best parlay strategy. There are different betting strategies for different events, which depend on a player’s fulfilment at the end of the day.
- Two-team or three-team parlay bets are the most common wagers that punters generally pick. You can increase the odds by placing a bet of a substantial amount to make the bet worth it. It is safer than making bets on more than three betting lines on the same ticket.
- Most punters mix parlay betting lines in order to take advantage of the different odds in each betting market. For example, you can wager on a basketball playoff game along with a cricket match to improve your overall payout.
- Players should be aware that the parlay payouts are different based on the combination of bets selected. That is, money line parlay gambling bets only payout big if punters predict the underdogs to cause an upset.
- It is also wise to note how the parlay calculator works. The bookmaker calculates the vigorish on every wager. Thus, the more the parlay bet accumulates, the higher the risk and the more the bookies’ charge.