How to Bet on NFL Parlays: A Complete Guide for Beginners and Experienced Bettors
Key Takeaways:
- Parlay bets combine multiple wagers into one, offering higher payouts but also increasing risk.
- To win a parlay, every included bet must be correct—if one loses, the entire parlay fails.
- Smart parlay betting requires strategic selection, risk management, and discipline.
What Is an NFL Parlay Bet?
An NFL parlay bet is a single wager that links two or more bets together. To win, all bets in the parlay must be correct—even a single loss will result in losing the entire wager. While parlays are riskier than individual bets, they offer significantly higher payouts.
For example, let’s say you bet on the Steelers (-6.5) and Rams (-3) separately, both at -110 odds. If each wins, you’d collect roughly $90 on a $100 bet per game. However, if you parlay them together, the odds increase to +260, meaning your $100 bet would return $260 if both teams cover.
Most sportsbooks allow parlays of up to 15 teams, but the more teams you include, the harder it becomes to win. While the potential payout is enticing, successful parlay betting requires a smart approach to avoid unnecessary losses.
How to Place an NFL Parlay Bet
1. Choose Your Teams & Games
To place a parlay bet, select at least two bets—these can include:
- Point spreads (e.g., Eagles -6.5)
- Money lines (e.g., Chiefs -150)
- Over/under totals (e.g., Over 48.5 points)
- Player props (if allowed by the sportsbook)
For example, let’s say you like these five teams in a given week:
- Philadelphia Eagles -6.5
- Houston Texans -2
- Cleveland Browns +1.5
- Seattle Seahawks -5
- Kansas City Chiefs -4.5
You could bet on each team individually or combine them into a five-team parlay, where all five must win for the bet to pay out.
2. Using a Sportsbook’s Parlay Feature
Most online sportsbooks make placing parlays simple. To create one:
- Select the games you want to include in your bet.
- Check your bet slip for a “Parlay” option.
- Enter your wager amount and review the potential payout.
- Confirm the bet and track your selections.
Once the bet is placed, all that’s left to do is watch the games and hope each leg of your parlay hits.
NFL Parlay Payouts & Odds
Parlays offer higher payouts because of the increased difficulty of winning. Here’s a general payout table based on standard -110 odds:
| Number of Teams | Payout (Approximate) |
|---|---|
| 2-team parlay | +260 |
| 3-team parlay | +600 |
| 4-team parlay | +1000 |
| 5-team parlay | +2000 |
| 6-team parlay | +4000 |
| 7-team parlay | +7500 |
| 8-team parlay | +15000 |
For example, a 3-team parlay at $100 would return $600, while an 8-team parlay at $100 could return $15,000.
While the potential returns are attractive, hitting long-shot parlays is extremely difficult. That’s why many experienced bettors stick to 2-3 team parlays for a balance of risk and reward.
Are NFL Parlays Worth the Risk?
Parlays are exciting because they offer massive potential payouts, but they also have a high failure rate. Sportsbooks profit heavily from parlays, as most bettors struggle to hit multiple bets in a row.
That said, if you bet strategically, you can improve your chances. Here’s how:
1. Stick to Small Parlays (2-3 Legs)
The fewer bets you include, the better your odds of winning. A 2-team parlay pays +260, which is still a strong return while being far more realistic than hitting a 6- or 8-team parlay.
2. Use Favorites Wisely
Many casual bettors stack heavy favorites in their parlays, but this often provides low value. Instead of blindly picking favorites, focus on teams that consistently cover the spread.
3. Manage Your Bankroll
Parlays should make up a small portion of your betting strategy. Since they’re riskier, a good rule of thumb is to limit parlay wagers to 1-5% of your total bankroll.
| % of Bankroll | Risk Level |
|---|---|
| 1% | Low risk, conservative |
| 5% | Moderate risk, confident bet |
For example, if your total bankroll is $1,000, your max bet on a parlay should be $50 or less.
4. Shop for the Best Odds
Different sportsbooks offer slightly different odds on parlays. Comparing lines across multiple sportsbooks can help maximize your potential payout.
5. Avoid Too Many Legs in Your Parlay
The temptation to keep adding bets for a bigger payout is strong, but sportsbooks profit the most from long-shot parlays. If you must add more legs, consider a mix of spreads, totals, and money lines to increase flexibility.
NFL Parlay Betting Strategies
1. Correlated Parlays (If Allowed)
Some sportsbooks allow correlated parlays, where bets are naturally linked. For example:
- Chiefs -7.5 & Over 45.5 Points
- Bills -10 & Josh Allen Over 2.5 Passing TDs
If the Chiefs cover the spread, they likely scored a lot of points, making the Over bet more likely to hit. However, many sportsbooks restrict correlated parlays, so check the rules before placing your bet.
2. Teaser Parlays for Safer Betting
A teaser parlay allows bettors to adjust the point spread in their favor, making bets easier to win. For example:
- Chiefs -7.5 → Teased to -3.5
- Seahawks -6 → Teased to -2
Teasers reduce payouts but increase your chance of winning, making them a solid option for those looking to minimize risk.
3. Betting Against Public Perception
Casual bettors often overvalue popular teams (like the Cowboys or Chiefs), leading to inflated lines. If you can identify undervalued teams or contrarian bets, you’ll improve your long-term profitability.
Final Thoughts: Should You Bet NFL Parlays?
Parlays are thrilling and can lead to huge payouts, but they come with significant risk. They are best suited for bettors who:
- Enjoy chasing high rewards
- Understand the increased difficulty
- Have strong betting discipline
If you’re new to parlays, start small with 2-3 team bets, focus on teams you know well, and manage your bankroll wisely. While hitting a massive parlay is rare, smart betting strategies can make parlays a valuable part of your NFL betting approach.
Before placing your next NFL parlay, ask yourself:
Is this parlay worth the risk, or should I bet safer with individual bets?
Either way, bet smart, stay disciplined, and most importantly—enjoy the game!