Parlay odds are more accessible than ever before thanks to the influx of regulated sports betting sites such as BetMGM. Parlay betting, or combining multiple games into one wager, is one of the most popular ways to bet on sports. Punters have been placing parlay bets for a long, long time, attracted by the potentially huge payouts even if they do carry a greater risk.
BetMGM is one of the top sportsbooks to bet parlays due to the sheer number of markets it offers on a daily basis. Combining these markets is simple with BetMGM’s intuitive interface and strong reputation in the sports betting space. The fact that this sportsbook also offers some of the most competitive odds in the US market is also a plus point.
This guide will walk you through how to place parlays on BetMGM. We will cover everything from a standard parlay bet, to same game parlays and no sweat parlays so you can start making money on your parlays in no time.
How to bet Parlays on BetMGM
The good news is, adding a parlay wager to your bet slip on BetMGM is a straightforward process. You can set up your parlay quickly by following the below steps.
Create an Account or Sign In
If you don’t have an existing betting account, you will need to create one with BetMGM. Make sure you claim your bonus bets as part of their welcome offer. You also need to be located in one of the states where BetMGM is legal.
Deposit Funds
Now you need to put in some cash. BetMGM has plenty of banking options available, such as credit and debit cards, ACH or PayPal. Choose your preferred method and you are good to go. BetMGM has a minimum deposit amount of $10, so your cash can go a long way on parlays.
Look at Markets
Have a look at all of the markets that BetMGM has to offer, there are plenty. When you have found a match you are interested in, add it to your bet slip.
Add Legs
Now you can choose as many legs as you wish to add up to a maximum of 15. Remember, as you are technically placing multiple bets, the difficulty level of winning increases with each leg you add, but so does the payout. If you want to place a same game parlay, the options available will be listed on the match you are looking at.
Place your bet
Enter your stake and hit ‘place bet’. Now sit back and hope your luck is in.
What is a Traditional Parlay Bet?
A typical parlay bet consists of at least two legs that can include moneyline, totals or spread bets. BetMGM and other sportsbooks offer specially customized boosted parlays, but it also gives you the opportunity to create your own multi-leg bets for your favorite sports every day.
Most people use parlays to get lucrative odds on moneyline bets, although you also have the option to spread wagers that have -110 odds. Because betting on numerous outcomes rather than just one game comes with greater risk, the payouts are also high.
For example, you want to place some NFL parlay bets and see the Seattle Seahawks have -265 moneyline odds to win their game, you could then add the LA Rams to win their game at odds of +150, which means much more profit if they both win.
BetMGM Parlay Rules
As parlays are a bit more complicated than a standard moneyline wager, there are some rules that BetMGM have in place, which are:
- Cash Outs: Players have the option of cashing out of their bet at BetMGM early if they don’t feel their last leg will win.
- Maximum legs: The maximum number of legs you can add to one parlay is 15.
- Voided Parlays: If one of the legs on your parlay wager is a push, that leg becomes void and removed from the overall parlay.
BetMGM One Game Parlay
Same game parlays have become very popular in recent years. BetMGM offer one game parlays, which are exactly the same as a same game parlay wager, it’s just how they have branded it. Bettors can get creative, developing their own parlays with spreads, totals, moneylines, player and game props with very competitive odds.
For example, if you think the Chiefs are nailed on to win but don’t think the Raiders will win their game, you can place a one game parlay where the Chiefs win, there is over 44.5 points and Travis Kelce scores an anytime touchdown. The odds on that parlay will be higher than just predicting the outcomes of the Chiefs and Raiders games as betting on a player to score a TD comes with longer odds.
The rules of one game parlays differ from traditional parlay bets. You can only add ten legs and early cashouts are not allowed as the parlay is only settled when the game ends, so cashout is suspended during the game.
BetMGM Round Robin Parlays
Round-robin parlays are a scenario where you are betting on at least two of three outcomes to win. For instance, if you place a four-leg wager in a round robin bet then they will win as long as two of the legs win.
At BetMGM, round robin betting essentially breaks a multi-leg parlay into smaller, two-leg parlays. For example, a Patriots-Eagles-Vikings parlay would get broken into Patriots-Eagles, Patriots-Vikings, Eagles-Vikings, etc. This will give you a backup if one leg misses, but they can get costly, so be aware.
BetMGM Teasers
Teasers are a great option to utilize in parlay betting, and BetMGM has a wide range of teasers available. For example, if the Cowboys are a seven point favorite over the Giants, but you don’t feel 100% that the Cowboys can cover a touchdown, BetGM will let you bring the spread down to somewhere around 4.5 points. So, if the Cowboys win by five or more, you win the bet.
Teasers are perfect for parlay betting because they don’t have long odds and winning several -110 wagers is really difficult. Also, pro sports teams play to win the game, not cover spreads, to teasers give you a degree of control in how you see the game playing out rather than relying on betting site odds.
Tips to win BetMGM Parlays
Now that you know how to place a parlay bet and the various different forms of parlays available, here are some tips that might help you make some nice returns.
Do your research: Make sure you look into teams, stats, players, matches, head-to-head records so you can make a more informed decision on your parlays.
Claim all available promos: BetMGM provide parlay promotions such as parlay boost tokens and no sweat parlays. These are highly beneficial and can be found under the promotions tab. Also look out for bonuses that are regularly found for NFL, NBA and college sports betting.
Don’t go above five legs: While you might see the potential returns go up every time you add a leg, it is nigh on impossible to win parlays if you are adding legs into double figures. A more reasonable chance of winning a parlay would be one that has around 3 legs.
Think of cashing out: Some people will always say you should never cash out, but the option is certainly worth considering. It can minimize your losses and that is never a bad thing.
You should never bet more than you can afford, bankroll management is a crucial part of sports betting.
BetMGM-A Great Option for Parlays
It is easy to see why BetMGM are one of the big players in the US sports betting market. The incredible amount of parlay betting markets, features and promos means they provide excellent value for any bettor. When you factor in BetMGM also has some of the best odds out there, using this sportsbook for your parlays is a no-brainer.
