A parlay bet essentially combines two or more bets into one wager. The payouts increase exponentially on parlays because you have to win every bet, or leg, that is part of the parlay for it to pay anything at all. In other words, if one bet loses, the entire parlay. Free Bet matching the stake if the parlay loses by one option. (usually capped at a certain figure eg $25) A daily odds boost on your first parlay (invariably about 5% boost). A promotional odds boost on parlays that meet certain conditions (eg. 50% extra on 4+ legs NBA parlay).
EDITOR'S NOTE: THIS OFFER HAS EXPIRED
The end of the NFL season usually brings the end of the best sports betting promotions of the year. However, DraftKings Sportsbook is keeping the action going into the spring with a great deal for new bettors.
From now through the end of the NBA season, DraftKings will offer parlay insurance for parlays of five or more legs. If only one leg of the bet misses, the site will refund the bet as site credit, up to $25.
This is a great opportunity to try out one of the best legal sportsbooks in the US.
How does parlay insurance work?
If you live in a state where DraftKings Sportsbook operates, it's really easy to sign up for an account. Follow the steps with your email, ID, and other info. You'll also get a free $25 bet just for signing up.
Once on the site, deposit money through a bank account, credit or debit card, or other means. It can be done in-person at a partner casino as well.
Give yourself some time to go over all the betting options DraftKings offers. Putting together the parlay card is simple. DraftKings shows its menu online with easy-to-read prices and figures. Each leg must be -300 or higher, so while you can take the Clippers at -240 in Cleveland, you can't take Philadelphia at home where they're -800 against the Bulls.
Use one bet per game for the parlay card. Combining a total and a moneyline for a single game won't work. However, players can use games from multiple leagues and sports.
Here's an example of a parlay card from this year:
- Over 6 goals between the Los Angeles Kings and New York Rangers (-105)
- Atlanta Hawks -4.5 on the point spread against the New York Knicks (-112)
- Ja Morant to score 18 or more against the Wizards (-115)
- Los Angeles Clippers moneyline against Cleveland Cavaliers (-240)
- Miami Heat to cover 5.5 points against the Portland Trailblazers (-110)
Free Bet Parlay Poker
The total payout on this bet is +1789 (nearly 18-to-1). However, if one leg misses, a free bet up to $25 will be credited to the account.
The insurance isn't a one-shot deal like other sites run for promos, either. Players can use this up to four times a day. Payouts come on the next business day to the accounts
Parlay insurance rules
While this is a great deal, there are some rules. This has to be a straight parlay card with five as-is bets. No teasers, no round-robins, no odds boosts, and no free bets in the mix. Attempts to cash out while the parlay is still active will nullify the chance to get the insurance.
Parlays have become increasingly popular for bettors. If you like to take some shots to build your betting bankroll, parlay insurance will help soften the blow of a few close calls.
1. One Game Parlay is only available on selected sports, and customers can only place a wager on this before the event starts. One Game Parlay is not available In-Play.
2. One Game Parlay are not eligible for Cash Out or Edit My Bet.
Free Bet Parlay Game
3. One Game Parlay cannot be combined with other One Game Parlay or other Parlay or Round Robin betting opportunities and will be placed as a straight only.
4. A minimum of two picks and a maximum of 10 picks from a single game can be included in a One Game Parlay wager.
5. If a pick within a One Game Parlay is cancelled, then the entire One Game Parlay will be cancelled. For example, if your touchdown scorer pick does not take part in the game the entire wager will be cancelled, regardless of the outcome of the other selections.
6. BetMGM will not be responsible if the One Game Parlay feature is not available for technical reasons.
7. BetMGM reserves the right to reverse the settlement of a One Game Parlay if any of the picks have been settled incorrectly.
2. One Game Parlay are not eligible for Cash Out or Edit My Bet.
Free Bet Parlay Game
3. One Game Parlay cannot be combined with other One Game Parlay or other Parlay or Round Robin betting opportunities and will be placed as a straight only.
4. A minimum of two picks and a maximum of 10 picks from a single game can be included in a One Game Parlay wager.
5. If a pick within a One Game Parlay is cancelled, then the entire One Game Parlay will be cancelled. For example, if your touchdown scorer pick does not take part in the game the entire wager will be cancelled, regardless of the outcome of the other selections.
6. BetMGM will not be responsible if the One Game Parlay feature is not available for technical reasons.
7. BetMGM reserves the right to reverse the settlement of a One Game Parlay if any of the picks have been settled incorrectly.
8. BetMGM reserves the right to reverse settlement or cancel any open One Game Parlay at any time.
9. BetMGM reserves the right to remove the One Game Parlay feature for any customer or group of customers where it has reasonable grounds to believe that the customer or group of customers is misusing the feature.
10. Any reference to ‘bet' refers to the entire contents of a One Game Parlay bet slip. Any reference to a ‘selection' is in reference to one selection within the related bet. A Parlay Builder bet is the aggregate bet compromised of all constituent selections.
11. For any obvious pricing errors, we reserve the right to cancel/void any bets placed at that incorrect price. We also reserve the right to cancel/void any bets on events where the venue is changed after the publication of odds.
