FanDuel is one of the ‘big two’ operators in the United States alongside DraftKings. The operator is widely recognized for its innovative and user-friendly betting app and huge number of betting markets. Another reason customers flock to the website is how good it is for parlay bets. Parlays are loved by punters as they allow them to combine several wagers into one larger bet at a higher payout, making them enticing options.
This sportsbook is the pioneer of Same Game Parlays, which is another iteration of a traditional parlay that enables you to combine your favorite bets from one game for a chance to win some big money. It is a really fun and exciting type of wager that has grown massively within the industry. FD is hands-down one of the best sportsbooks for parlay betting. But if you are new to sports betting, the idea of a parlay may have you in a twist.
This guide will go into detail on how you place Parlays on FanDuel. We will go through the standard parlay bet, to same game parlays, parlay insurance and some strategies and tips to give you the best chance of winning.
How to bet Parlays on FanDuel
Betting parlays on FanDuel is a straightforward process. You can get your combination of legs added to your bet slip with the following steps.
Create an Account or Sign-in
The first thing is you need to an active account so must sign up for one. This will require you to enter some personal information such as name, address and email. When signing up, you can click on the ‘Get Bonus’ button to trigger the welcome bonus. Once this has been completed, you will get a confirmation email to confirm that your account has been verified. If you have signed up for an account previously, just enter your login details.
Deposit Funds
Once you are in, you now need to add some cash to your FanDuel account. Luckily, FanDuel provides you with all of the most convenient banking methods available such as debit/credit card, PayPal, wire transfer and more. As soon as your deposit is confirmed and hits the betting account you are good to go.
Browse the Betting Markets
You can now have a look around the FanDuel app or desktop site and choose your preferred betting market. Each sport is easy to find as it is organized by its respective leagues. Choose your preferred sport and then click the match you want to add it to your betslip. Once that is done, you can then choose other legs to add to your parlay. If you want to stick to the common bet types such as moneylines, totals or spreads, they will be on the main page where you selected the sport. If you want more exotic options, click ‘more wagers’.
Check & Edit the Bet or Submit
If ready, you can now place your parlay wager. The bet slip will show the total odds of the bet along with the potential winnings, depending on the stake you have entered. If you think you have gone a bit too far, you can click the garbage icon to remove a leg. The odds will adjust if you add or remove any legs. Once happy, select ‘place bet’ and then sit back and hope those winnings will soon be appearing in your betting account.
What is a Traditional Parlay Bet?
A traditional parlay bet allows a player to to combine numerous bet types from several games into one larger wager. When parlays were first introduced into the sports betting market, you could only include the more common bet types like moneylines and totals. However, with the rise of more exotic props, that bet type can now be included in a traditional parlay.
Every one of your legs must hit for the parlay to win. The payout is calculated from the odds of each event as well as the number of legs you have added. It is a really fun type of bet to use as you are betting less to win more, it always raises a smile when you see the amount you could win from a small outlay. Of course, because the payouts are potentially higher, that also means the bet is more difficult to win, as is the case with parlays.
Let’s look at an NBA parlay example below.
The odds for this parlay are +460, and in this case, I need the Bulls, Celtics and Lakers to all win their games to potentially win $230.48 from a $50.00 bet.
The example above only has three legs and parlays with fewer picks have a greater chance of winning. This example has two big favorites and just one underdog which sees the potential payout jump up. When compiling your parlay, think about the odds of each match rather than the number of legs.
FanDuel Parlay Rules
You must adhere to some rules to ensure your parlay is eligible, which include:
- FanDuel reserves the right to reject any parlay wagers that combine lots of possible outcomes on the same event.
- If a leg becomes void (game postponed, player injured etc), the rest of the parlay is still live, it just means one leg will be removed. However, if this parlay has an odds boost, the voided leg means the whole parlay is canceled.
- If you have included a player prop in your parlay, the player must be active. If the player fails a late fitness test and can’t go, the bet will be void.
FanDuel Same Game Parlays
FanDuel was the first sportsbook to really bring same game parlays to the fore. This type of parlay gives you the opportunity to combine correlated outcomes from the same game in the hopes of earning a nice profit.
When you want to place a same game parlay on FanDuel, just click the ‘more wagers’ then ‘Same Game Parlay’ buttons.
As you can see from the above image, once you click the same game parlay option you are presented with all of the props and different options you can add to your SGP.
Just like in traditional parlays, all of your bets must hit for you to win. The biggest difference is the odds won’t be as enticing due to the outcomes being correlated.
For example, using the Browns game against the Broncos as shown above, if you bet the Broncos to win on the moneyline then it is likely their QB Bo Nix and their offensive players will have a good game. So, while losing value there is a greater chance that you will win. This is the main negative with SGP’s, but they are a highly exciting bet to place and still offer a relatively decent payout compared to the stake you place.
As well as standard SGPs, the sportsbook also has the FanDuel SGP+. With this type of parlay, bettors can combine multiple bets from a single game with additional bets from other games into one comprehensive parlay.
FanDuel Round Robin Parlays
The idea behind round robin parlays are to combine numerous parlays, which effectively reduces your risk but also reduces your upside. It chances of you winning increase, but the amount you stand to win decreases.
To submit a round robin, click each or your legs to add them to your betting slip, then click the round robin button, where you will be presented with different options on how to go about your bet.
If we look at some NFL teams as an example:
- Seahawks – 3 (-110)
- 49ers -10 (-110)
- Panthers +7 (-110)
If you wanted to bet $10 on this traditional parlay, you would make around $60 with odds of +600. If you were to go down the round robin route, you are then making combinations of the three teams as well as the usual three-teamer.
The idea is to get at least some return if at least two of your picks hit. It is essentially like having some insurance that even if one of your legs fails, you still walk away with something.
FanDuel Teasers
Teasers, just like moneylines and props, are very popular. A teaser bet is when you adjust the point spread more in your favor, and, like a round robin, your chances of winning increase but that comes with a lower potential payout.
If you want to place a teaser, choose your matches and add it to your bet slip, then click on the ‘teasers’ button. Enter your stake and you will see how much you could make as you add or remove legs and the odds change.
Let’s look at an example. You like the look of the Rams -10.5, Ravens -14 and Chiefs -7.5. However, you didn’t think each team would cover the spread, so you added them in a 6-point teaser. Doing this you would get:
- Rams -4.5
- Ravens -8
- Chiefs -1.5
Similar to round robins, teasers are popular because they reduce the risk.
Tips to win FanDuel Parlays
There are different strategies and tips you can utilize to increase your chances of winning FanDuel parlays. Here are some things to bear in mind to increase your chance of earning some cash.
Limit your selections to five: It can be really tempting to keep adding legs at will to try and hit that massive payout and retire into the sunset. After all, that is the ultimate dream of every bettor. However, that will mean you bleeding a lot of money in the meantime. That is why we say the ideal target to aim for with parlays is five legs. You can still get a nice payout without staking a lot.
Do your research: As you will be betting on a fair few teams, make sure you have knowledge of them beyond a couple of players. Look at their recent form, home/away record, stats. There are plenty of free websites out there that can help you with this, so take advantage of it.
Claim bonuses: This is pretty self-explanatory. FanDuel regularly offers parlay promotions like parlay insurance, which gives you a fallback if one of your legs loses. Keep checking under the promotions tab and also check for sport-specific bonuses.
Bankroll management: Always manage your risk. Parlays are hard to win because just one leg is costly. Consequently, you should plan for that and factor in that you may not win a lot of parlays. Don’t waste your cash and burn through your bankroll on constant parlays.
FanDuel-One of the Best Sportsbooks for Parlays
FanDuel is the home of the Same Game parlay, and their reputation for offering the most varied markets for parlay bets is well deserved. When you log in and hit the parlays section, the sheer amount of betting options are astounding. Everything is made simple. If you want to try your hand at a same game parlay, then you have lots of props and player props to go at. Choosing FanDuel for your parlay bets is a simple choice.
