Two-team and three-team parlays are popular too, also known as doubles and trebles, while some bettors like to pick ten legs or more. Of course, you don’t have to pick five legs. As we said before - high risk, high reward!

However if the parlay does succeed, the winnings from a $10 stake will be $1,150.20. The implied probability of success is a pretty slim 0.86%. The odds for this NFL parlay are +11,502 - thankfully, your sportsbook will do all the math for you. Imagine you’re placing a $10 parlay bet on the first five matches of the 2023 NFL season with the following odds: To give you a better idea of how parlays work, here’s an example. The chances of doing so are typically rather low - don’t forget, if just a single leg fails the parlay loses - but the returns for winning bets can be massive. With parlays, the odds of each leg are multiplied to calculate the final payout if you land every bet. So why make a parlay bet? It all comes down to risk versus reward. Each bet - typically called a ‘leg’ - needs to win for the parlay to be successful. Parlays, sometimes also called combo bets and accumulators, are a type of wager combining multiple individual bets into one.

Best place online for parlay bets