What is a Parlay bet?
A parlay is a sports bet that includes multiple selections and gives the bettor a higher payout. All selections in a parlay bet must be winners for the entire parlay to be a winner. BetJOE accepts anywhere from 2 to 10 selections in a parlay and offers an unlimited payout up to $250,000 USD (or equivalent) per distinct parlay.
Parlays can be created from multiple sports and betting types including spread, moneylines and total bets.
New York Yankees Moneyline -105
Boston Red Sox Moneyline -120
Toronto Blue Jays Game Total Over 9.5 -110
Chicago Bears Game Spread -3.0 -130
In this example, the bettor would receive $1108.97 of winnings per $100.00 wagered when all 4 selections would be correct.
Depending on the sport, if a game is cancelled, rescheduled or graded as “no action” for betting purposes a parlay reverts lower.
Example #1: If the New York Yankees game is postponed, the parlay is still valid but becomes a 3-Team Parlay and the payout is re-calculated accordingly.
Example #2: Chicago Bears -3.0 -130 is the 4th selection of the parlay, if the Chicago Bears win by exactly 3 points the selection is deemed a “PUSH” and the parlay is still valid but becomes a 3-Team Parlay with an adjusted payout.
BetJOE pays out on “TRUE” parlay odds and does not place any caps on parlays.