How To Parlay On DraftKings Sportsbook

Unlike a straight bet, when you’re wagering on the result of a single game or event, a parlay allows you to wager on multiple outcomes with one bet.

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 offer bettors the chance to explore player- and team-related prop markets rather than sticking with traditional moneyline, point spread and Over/Under wagers. Throw in the latest phenomenon—same-game parlays—and the parlay options are seemingly endless.

You better believe it. It’s a big reason the U.S.-based sportsbook is so popular.

In fact, DraftKings has several types of parlay wagers to choose from.

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

DraftKings also offers a same-game parlay extra (SGPx) feature that allows bettors to combine multiple same-game parlays into a parlay.

DraftKings even has a unique “progressive parlay” feature where you can still get partial winnings from your wager even if not all of your legs win.

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

Like other sportsbooks, DraftKings frequently offers promotions on parlay bets, like profit boosts that increase your potential winnings and no-sweat parlays that return a bonus bet if your parlay loses.

DraftKings and other sportsbooks push parlay betting because the hold percentage—the sports betting term for the percentage of customer dollars that sportsbooks retain after winnings are paid—is high compared to straight bets.

A bettor will occasionally get lucky and hit one of those five- or six-figure jackpots. But overall, the amount of money sportsbooks earn from parlay betting is far greater than what they pay out. The odds are in their favor.

Simply put, parlays substantially boost every sportsbook’s bottom line.

A popular type of parlay wager is a same-game (also known as single-game) parlay, and DraftKings has emerged as a leader in this thriving market.

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 throughout the day.

For many games on its platform, DraftKings has a “Quick SGP” tab that features pre-built same-game parlays for bettors to consider. These are organized by odds, so bettors can view SGPs with longer or shorter odds if desired.

Like traditional parlays, same-game parlays are popular because bettors can risk less money for a shot at a substantial payout. All it takes is a few dollars wagered on a five- or six-leg same-game parlay, and if that game plays out as the bettor predicts, cha-ching!

Single-game parlays have lifted DraftKings’ national profile, helping it become more popular with sports bettors and making it one of the industry leaders.

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

A same-game parlay extra, also known as an SGPx, is a parlay composed of 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 bring the potential for higher payouts.

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

DraftKings Parlay Builder Tool

The DraftKings parlay builder allows bettors to create parlays by mixing and matching different scenarios. After finding the sports game you want to bet on, you can access the parlay builder, opening the door to any market you can combine.

These markets are organized by category in the parlay builder, so you can easily find what you’re looking for, whether it’s player props, game props or other markets.

The DraftKings parlay builder also displays the parlay’s odds and shows potential winnings based on how much you risk. Adding more legs or increasing your stake will raise your payout.

Similarly, DraftKings has a “Quick Parlay” feature at the top of the app that makes it easy to build a parlay using events from different sports and markets. This is a great feature for sports bettors who want to get creative.

DraftKings SGP Rules

Although bettors have significant freedom when constructing a single-game parlay at DraftKings, the sportsbook’s house rules prohibit certain bets. There are also contingencies if specific legs are affected by extenuating circumstances.

Among the more prominent same-game parlay restrictions:

• Any parlay involving a player who doesn’t play in the game will be voided and the bettor’s money will be refunded, regardless of how the other legs turn out.
• If any event is listed as “abandoned” (i.e., postponed or canceled), the following outcomes may occur:

– A same-game parlay will be voided.
– A same-game parlay without a previously settled leg will be voided.
– A same-game parlay will be listed as “lost” if any other legs were already “lost” before the game in question was abandoned.

• 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 moneylines in MLB games and puck lines and moneylines 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 we’ve detailed how to create parlays at DraftKings, along with the rules and restrictions, let’s dive into how you can get in on the action.

Here is a step-by-step tutorial for building and placing parlays through the DraftKings app:

1. Create a DraftKings account (if you don’t already have one). This simple process only takes a few minutes and requires you to enter some personal details to verify your identity.
2. 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.
3. After signing into and funding your account, navigate to any sport or specific game you’d like to bet on.
4. Build your parlay by adding at least two bets to your betting slip. If any of the selections are deemed invalid, you will receive a notification. You’ll need to remove those sections before you can complete the parlay.
5. Most sportsbooks have a maximum number of legs allowed in a parlay. At DraftKings, the maximum number of legs for a parlay is 20.
6. After compiling your betting slip, move to the “Parlay” tab (different from tabs labeled “Singles” or “Round Robins”).
7. 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 DraftKings’ limits, you’ll receive a notification and must adjust your bet accordingly. After selecting your wager amount, DraftKings will calculate the potential win amount.
8. After reviewing the parlay for accuracy, tap the “Place Bet” button. Once you see the notification that DraftKings accepted the bet, you’re all set.

Can You ‘Cash Out’ a Parlay Early on DraftKings?

DraftKings 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”—that is, not all of the legs have been decided.

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 $20 five-leg parlay with a potential payout of $1,000.

The first leg is tied to the Thursday Night Football game. You win that bet. The next two legs are two Saturday college football games. You win both of those.

The fourth leg is an early Sunday NFL game, and that one also is a winner. So now you’ve hit four of the five bets in your parlay, with the fifth bet involving the Sunday Night Football game. You can let the parlay ride, knowing that if the Sunday Night Football game goes your way, you’ll collect $1,000. If it doesn’t go your way, you get nothing.

Or you can “cash out”—also known as “surrender”—your bet, accepting whatever amount DraftKings offers.

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

For instance, DraftKings might offer $100 after the first three legs of the five-leg parlay win. Since your initial wager was $20, you’d make $80 in profit. If you accepted that deal, you’d get paid and the parlay would be canceled.

Now, let’s say you declined DraftKings’ offer and the fourth leg hit. At that point, DraftKings might offer you $500 to cancel the bet before the Sunday 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 $50 three-leg MLB parlay on the New York Yankees, Los Angeles Dodgers and Milwaukee Brewers.

An hour before the first pitch, you learn that Yankees outfielder Aaron Judge and Dodgers outfielder Mookie Betts—both All-Stars—aren’t in the starting lineup.

If you are no longer feeling confident in your parlay, you might want to kill it before the first game begins. You check the cash out offer and see DraftKings will give you $25 to cancel the bet.

Yes, you’d surrender half of your $50 bet, but that might be more palatable than letting the parlay ride and potentially losing because Betts and Judge aren’t active.

How Much Can You Win on a Parlay?

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 $10 bet on a six-team parlay with +12000 odds will pay $1,200, while a $100 three-team parlay with +600 odds will pay half that amount ($600).

As mentioned, most sportsbooks (including DraftKings) have a limit on the number of legs they allow in parlays and the maximum amount customers can win.

Some bettors (particularly professionals) find these limitations restrictive, but sportsbooks include them for two reasons: to mitigate their financial liability and to protect bettors from placing large sums of money on bets with little chance of winning.

Why Did DraftKings Reject My Parlay?

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

Accordingly, DraftKings 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 a team to cover a -5 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, but the main thing to remember is this: DraftKings and other sportsbooks are most interested in maximizing their profits—not yours.

Like its competitors, DraftKings permits multi-sport parlays. Want to include your favorite NFL, college football, NHL and NBA teams in the same parlay? Go for it.

The teams don’t even have to be playing on the same day. As long as the legs of your parlay keep winning, your parlay 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 one NBA, one NFL, one MLB and one NHL game, all at -110 odds.

Another perk at DraftKings is the ability to parlay futures bets across multiple sports. That means you can put together a parlay that includes the Green Bay Packers to win the Super Bowl, the New York Yankees to win the World Series and boxer Canelo Álvarez to win his next fight.

Even though same-game parlays are growing in popularity, DraftKings 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:

• Brooklyn Nets: -115
• Golden State Warriors: -220
• New Orleans Pelicans: +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:

• Kansas City Chiefs: -11.5
• Cleveland Cavaliers: +4.5
• San Diego Padres: -1.5 runs

To win this parlay, the Chiefs 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 San Diego Padres 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:

• UCLA vs. USC: Over 55.5 points
• Alabama-Texas A&M: Under 62.5 points
• Florida State-Miami: Over 43.5 points

To win this parlay, a bettor would need UCLA and USC to combine for at least 56 points, Alabama and Texas A&M to combine for fewer than 63 points, and Florida State and Miami 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:

• Bryce Harper: Over 0.5 home runs
• Max Scherzer: Over 7.5 strikeouts
• Juan Soto: Under 1.5 hits

If Harper hits a homer, Scherzer notches at least eight strikeouts, and Soto 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.

We presented the above example of the Packers to win the Super Bowl, the Yankees to win the World Series and Canelo Álvarez to win his next boxing match. You can also create futures parlays with league MVPs, division winners and team win totals.

While DraftKings allows bettors to parlay many futures bets, some combinations aren’t permitted. DraftKings’ parlay builder will alert you when a combination is invalid.