How To Parlay On BetMGM Sportsbook

First off, a parlay allows you to wager on multiple outcomes with one bet. This is different from a straight bet, which is a wager on a single game or event.

For a parlay bet to win, all components (known as legs) must come true. That inherently adds more risk, as correctly picking multiple outcomes is harder than picking just one.

A parlay is an all-or-nothing bet. There is no partial credit for getting most of your legs right. If one leg is wrong, the entire wager loses.

While parlays are riskier than straight bets, they appeal to bettors because their betting odds are longer, so they pay more than straight bets. If you wager $30 on a three-leg parlay and it hits, you will win more money than if you had spread it out into three $10 straight bets.

This enables bettors to win a large sum while only wagering a small stake, as the odds increase with each additional leg.

Parlays also allow bettors to explore player- and team-related prop bets as potential legs rather than sticking with traditional moneyline, point spread and Over/Under wagers.

Between traditional parlays and same-game parlays (which combine multiple outcomes from the same game), parlay options are seemingly endless.

Yes. While BetMGM doesn’t advertise its parlay creator as much as other sportsbooks like FanDuel or DraftKings, you can easily bet parlays on BetMGM across a variety of different betting markets.

In addition to standard parlays that combine outcomes from different games, BetMGM offers same-game parlays (SGP) that combine outcomes from the same game.

It also has a same-game parlay plus (SGP+) feature that allows bettors to combine multiple same-game parlays into one parlay.

BetMGM also offers promos around parlays ranging from promotions to no-sweat tokens.

Parlays are prominently featured at BetMGM, which highlights pre-built same-game parlays. Bettors can also build their own or customize the pre-built ones if desired.

Like other sportsbooks, BetMGM frequently offers promos on parlay bets, like profit boosts that increase your potential winnings and no-sweat parlays that return a bonus bet if your parlay loses. However, your parlays usually need to meet certain requirements, such as an odds minimum or a certain number of legs, to qualify.

A popular type of parlay wager at BetMGM is a same-game (also known as single-game) parlay.

A same-game parlay is a parlay composed of multiple legs (bets) from the same game. It allows bettors to potentially win big without needing to research, bet on and follow multiple games.

For many games on its platform, BetMGM has a Same Game Parlay section where bettors can easily create an SGP by selecting from different betting markets.

Here’s an example of a same-game parlay for an NFL game between the Kansas City Chiefs and Dallas Cowboys:

• Patrick Mahomes 250+ Passing Yards
• Travis Kelce Anytime Touchdown Scorer
• CeeDee Lamb Over 79.5 Receiving Yards
• Kansas City Chiefs -3.5

In addition to profit boosts, another popular same-game parlay promo at BetMGM is a no-sweat token, which allows bettors to get their stake back in the form of a bonus bet if the wager doesn’t hit. BetMGM usually runs this promotion ahead of marquee betting events like the World Series, NBA Finals or an NFL weekend.

The above betting example has a no-sweat token applied to it, so if the wager doesn’t hit then you’d get your initial stake back in the form of a bonus bet.

In addition to same-game parlays, BetMGM offers a same-game parlay extra to give sports bettors another option.

A same-game parlay plus, also known as an SGP+, is a parlay comprised of multiple same-game parlays. It allows bettors to wager on multiple outcomes from multiple games and combine them into one wager.

Similar to traditional parlays, these types of bets are riskier and have longer odds, but they also have the potential for higher payouts.

One thing to note is that an SGP+ must have at least three legs. Whereas you can build a two-leg traditional parlay or same-game parlay, an SGP+ must contain at least two legs from one game and at least one leg from another game.

Here’s an example of an SGP+ bet from BetMGM. As you can see, the bet slip shows the odds from each game wagered on and combines those to form the final odds for the wager.

The games can be from different sports and don’t even have to be on the same day. As long as the legs of your parlay keep winning, your bet remains active.

Additionally, the odds and payouts are the same whether your parlay has one sport or multiple sports. If you have a four-team parlay involving all NBA point spreads with -110 odds, it pays the same as a four-team parlay that features two NBA and two NHL games, all at -110 odds.

Another perk at BetMGM is the ability to parlay futures bets across multiple sports. That means you can put together a parlay that includes the Detroit Lions to win the Super Bowl, the Los Angeles Dodgers to win the World Series and the Boston Celtics to win the NBA Finals.

While bettors have a plethora of parlays to choose from on BetMGM, the sportsbook’s house rules prohibit certain bets.

There are also contingencies if specific legs are affected by extenuating circumstances, like if a player sits out or if a game is postponed due to inclement weather. In those cases, the relevant legs will be voided and removed from your parlay, but the other legs will still count and your parlay will remain active (albeit with reduced odds).

Here are a few other common rules to note:

• Any same-game parlay that has a selection ending in a tie will result in the entire parlay being scored as a loss (as long as you couldn’t select tie or draw as an option).
• Same-game parlay rules will always prevail over sport-specific rules.
• Depending on the sport, certain markets cannot be combined to form a same-game parlay (for example, run lines and totals in MLB games and puck lines and totals in NHL games).

Most of the time, these rules will not affect the outcome of a wager, but it’s important to know them in case something unusual happens that affects your bet.

Now that you know everything about how to bet on parlays at BetMGM, here’s a step-by-step tutorial for building and placing parlays on BetMGM.

• Create a BetMGM account (if you don’t already have one). This process only takes a few minutes and requires you to enter some personal details to verify your identity. Be sure to check out BetMGM’s welcome offer so you can take advantage of the promotion they’re running.
• Once you have an account, deposit funds electronically or at a retail sportsbook. Many states permit mobile and in-person deposits, but others allow only one or the other. Make sure to check your state’s laws on funding sports betting accounts.
• After signing into and funding your account, navigate to any sport or game you’d like to wager on.
• Build your parlay by adding at least two bets to your betting slip. If any of the selections are deemed invalid, you will not be able to submit your bet. You’ll need to remove those sections before you can complete the parlay.
• Most sportsbooks have a maximum number of legs allowed in a parlay. At BetMGM, the maximum number of legs for a parlay is 30.
• Most sportsbooks also have a maximum amount of money you can win on one bet. At BetMGM, the limit is $1 million.
• After you’ve selected all the betting markets you want, open up the bet slip to see the final odds of your parlay. At this point, you’ll be able to apply any profit boosts or no-sweat tokens.
• Choose your wager amount. Maximum wagers can differ depending on the number of legs in the parlay and/or sports involved. If your wager exceeds BetMGM’s limits, you’ll receive a notification and must adjust your bet accordingly. After selecting your wager amount, BetMGM will calculate the potential win amount.
• After reviewing the parlay for accuracy, tap the “Place Bet” button. Once you see the notification that BetMGM accepted the bet, you’re all set.

BetMGM allows bettors to cash out a parlay at different times. Cashouts occur when the bettor agrees to take an early payout on a parlay that’s still “live” and incomplete.

Cashouts are available before a game starts and while it is in progress. Here are two examples of how a cashout might work (one pregame, one in-game):

Example No. 1: You place a $10 six-leg parlay with a potential payout of $800.

The first leg is tied to the Thursday night NBA game, which you win. The next three legs are Saturday college football games. You win all three of those.

The fifth leg is a Sunday NFL game, and that one also is a winner. So now you’ve hit five of the six bets in your parlay, with the sixth bet involving the Monday Night Football game. You can let the parlay ride, knowing that if MNF goes your way, you’ll collect $800. If it doesn’t go your way, you get nothing.

Or you can “cash out” your bet, accepting whatever amount BetMGM offers.

The cashout amount will fluctuate as long as the parlay is still alive.

For instance, BetMGM might offer $100 after the four legs of the six-leg parlay win. Since your initial wager was $10, you’d make $90 in profit. If you accepted that deal, you’d get paid and the rest of the parlay would be canceled.

Now, let’s say you declined BetMGM’s offer and the fifth leg hits. At that point, BetMGM might offer you $400 to cancel the bet before the Monday Night Football game kicks off.

If you passed once again, the cashout offer would still be available during the game, with the amount increasing if your team is winning or decreasing if your team is losing.

Example No. 2: You place a $30 three-leg NBA parlay on the Los Angeles Lakers, Golden State Warriors and New York Knicks.

An hour before tip-off, you learn that Lakers superstar LeBron James isn’t playing, making his team less likely to win.

If you are no longer feeling confident in your parlay, you might want to kill it before the first game begins. You check the cashout offer and see BetMGM will give you $20 to cancel the bet.

Yes, you’d lose $10, but that might be better than losing $30 if you ride out the parlay and it loses.

The amount of money you can win on parlays depends on three factors: the number of legs in your parlay, the total betting odds and how much you risked (wagered) when you placed the parlay.

For instance, a $20 bet on a six-team parlay with +1500 odds will pay $300, while a $100 three-team parlay with +300 odds would also pay $300.

As mentioned, most sportsbooks (including BetMGM) have a limit on the number of legs they allow in parlays and the maximum amount customers can win. At BetMGM, those limits are 30 legs and $1 million.

Some bettors (particularly professionals) find these limitations restrictive, but sportsbooks include them to avoid potentially losing massive sums of money on a flukey parlay hitting.

Sportsbooks are in business to make money, and allowing customers to get an “edge” on certain bets threatens that objective.

Accordingly, BetMGM and their competitors won’t allow certain betting combinations to be included in parlays if they theoretically increase the bettor’s odds of winning.

For example, it’s impossible to bet on a favorite to both win outright and cover the spread in a parlay. For an NBA team to cover a -8 spread, for example, it must also win the game outright. You must choose one market or the other for a parlay, or place two separate straight bets.

There are other examples of parlay combinations that aren’t permitted. At the end of the day, BetMGM and other sportsbooks are most interested in maximizing their profits—not yours.

Even though same-game parlays are growing in popularity, BetMGM offers many other forms of parlays. These include:

Moneyline Parlay

A moneyline parlay involves picking two or more teams to win, no matter the victory margin.

An NBA moneyline parlay might look like this:

• Golden State Warriors: -115
• Denver Nuggets: -220
• New York Knicks +180

If all three teams win, your moneyline parlay is a winner.

Point Spread Parlay

Like a group of teams to cover the point spread? You can throw them into a parlay.

The difference between a point spread parlay and a moneyline parlay is that victory margins matter with the former but not the latter. With spreads, teams must win or lose by a certain amount of points to cover.

Here is a hypothetical multi-sport point spread parlay:

• Philadelphia Eagles: -11.5
• Cleveland Cavaliers: +4.5
• New York Yankees: -1.5 runs

To win this parlay, the Eagles would have to beat their opponent by at least 12 points, the Cavaliers would have to win outright or lose by fewer than five points, and the Yankees would have to prevail by at least two runs.

Over/Under Parlay

Over/Under parlays focus on the final score of multiple games—scores that go “Over” or stay “Under” a total set by oddsmakers.

Here is an example of an Over/Under parlay in college football:

• Michigan State vs. Michigan: Over 55.5 points
• Alabama vs. LSU: Under 62.5 points
• USC vs. UCLA: Over 43.5 points

To win this parlay, a bettor would need Michigan State and Michigan to combine for at least 56 points, Alabama and LSU to combine for fewer than 63 points, and USC and UCLA to combine for more than 43 points.

Player Prop Parlay

If you’ve seen a big winning ticket posted to a sportsbook’s social media account, there’s a good chance it involves a prop bet parlay.

Rather than betting on the outcomes of a series of games, player prop parlays are tied to how certain players will perform statistically in their respective games.

Here’s a possible MLB player prop parlay:

• Pete Alonso: Over 0.5 home runs
• Corbin Burnes: Over 7.5 strikeouts
• Mookie Betts: Under 1.5 hits

If Alonso hits a homer, Burnes notches at least eight strikeouts, and Betts finishes with fewer than two hits, this parlay is a winner. If any of those players falls short, however, the entire parlay is graded as a loss.

Futures Parlays

Futures parlays allow bettors to bet on events and outcomes that will be decided at any point in the future (usually at the end of the season), such as which team will win a championship or which player will win a major award.

Here’s an example:

• Lamar Jackson wins NFL MVP
• Detroit Lions win the NFC
• Kansas City Chiefs win the Super Bowl