Mastering the DraftKings Parlay: A Step-by-Step Guide

6 min read
Sep 16, 2024, 8:07 AM
Author
Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief
Last Updated: Sep 16, 2024, 8:07 AM

Understanding Parlay Betting

Parlay betting is a popular form of sports betting where multiple individual wagers are combined into a single bet. For the parlay to win, every individual wager, or "leg," must win. Parlays are attractive because they offer higher payouts than placing individual bets, but they also come with higher risks. If even one leg loses, the entire parlay is lost.

There are several types of parlays, including traditional parlays, which combine bets from different games or events, and same game parlays, which allow bettors to combine multiple outcomes from a single game. This versatility makes parlays an engaging way to bet on sports, offering both excitement and the possibility of higher payouts. Understanding DraftKings' odds is very important as well.

Getting Started with DraftKings Parlays

To begin placing a parlay on DraftKings, follow these simple steps:

  1. Log into your DraftKings account: Access the sportsbook either via the app or website.
  2. Select your sports market: Choose from sports like the NFL, NBA, or MLB. For example, select an upcoming Green Bay Packers game.
  3. Pick multiple outcomes: Add multiple bets to your bet slip. For instance, in a same game parlay, you might bet on the Packers to win, Aaron Rodgers to throw for over 250 yards, and the total game score to exceed 48.5 points.
  4. Set your wager amount: Once you have your parlay ready, enter the amount you want to wager.
  5. Place your bet: Review your parlay and confirm your bet.
DraftKings offers additional features like profit boosts, which can enhance the potential payout of your parlays. These boosts are available for certain events, like the Super Bowl or high-profile NFL matchups.

Differences Between DraftKings Parlays and Other Sportsbooks

DraftKings stands out from other sportsbooks by offering a variety of parlay betting options, including same game parlays and customizable features like profit boosts. Additionally, DraftKings’ interface is user-friendly, making it easy to create, adjust, and place parlays.

FeatureDraftKingsOther Sportsbooks
Same Game ParlaysWidely available across many sportsMay not be as widely available
Profit BoostsRegularly offered on select eventsLess frequent, varies by sportsbook
Maximum Payout PotentialCompetitive payouts for multi-leg parlaysPayout potential depends on sportsbook
User InterfaceIntuitive, mobile-friendly interfaceCan vary; not all are as easy to navigate

Maximizing Your Parlay Potential

To maximize your parlay potential, it’s essential to take advantage of the various features offered by DraftKings. Here are a few ways to do so:

  • Use promotional offers: Keep an eye out for promotional offers like profit boosts or risk-free bets, which can enhance your parlay betting experience.
  • Shop for odds: Compare the odds on DraftKings with other sportsbooks to ensure you’re getting the best possible value for your bets.
  • Stay updated with team news: Knowledge is key when betting on parlays. Stay informed about team and player updates, especially when betting on high-profile games like the Super Bowl or regular-season NFL games.
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By following these strategies, bettors can maximize their parlay’s payout potential without taking unnecessary risks. For example, adding one leg too many can turn a winning parlay into a loss, so keeping the number of legs manageable is crucial.

FAQ

FAQS on DraftKings Parlay's

What is a Same Game Parlay?

A Same Game Parlay allows bettors to combine multiple outcomes from a single game into one bet. For example, in an NFL game, you might combine bets on the final score, a player’s performance, and a specific team outcome. This type of parlay is popular because it offers greater flexibility within one event.

How does a Same Game Parlay differ from a traditional parlay?

A traditional parlay combines bets across multiple games or events, while a Same Game Parlay focuses on different outcomes from a single game. For instance, in a traditional parlay, you might bet on multiple NFL games in one wager, whereas a Same Game Parlay would involve multiple bets on just one game. Keep in mind that all outcomes in a parlay must hit for the bet to win, and if any leg loses, the entire parlay is lost.

Can you combine player props in a Same Game Parlay?

Yes, player props are often included in Same Game Parlays. For example, you could bet on a quarterback’s passing yards, a running back’s rushing total, and a wide receiver’s receptions, all within the same game. This variety is what makes Same Game Parlays engaging for bettors.

What happens if one leg of my parlay loses?

If one leg of your parlay loses, the entire parlay is lost. This is true for both traditional parlays and Same Game Parlays. It’s important to carefully select each leg because just one wrong outcome can spoil the entire wager.

Can I track the progress of my Same Game Parlay?

Yes, you can log into your DraftKings account and track the progress of your Same Game Parlay in real-time. The system updates your bet slip as each leg is completed, allowing you to see whether your parlay is on track or if you are close to winning—or losing.

What is the maximum number of legs allowed in a Same Game Parlay?

DraftKings sets a maximum number of legs for each Same Game Parlay, which may vary depending on the sport or event. Always check the platform’s terms to know the limits before placing your bet. Adding too many legs increases risk, as each additional leg must be correct for the parlay to hit.

Are Same Game Parlays accepted for all sports markets?

Same Game Parlays are widely available across major sports like the NFL, NBA, and MLB, but they are not always available for every event. Markets for these parlays may be limited depending on the sport or outcomes being offered. It’s important to check whether Same Game Parlays are accepted for the sport you wish to bet on.

Can I cash out my Same Game Parlay early?

Cashing out early on a Same Game Parlay is possible in some cases, depending on the outcomes and whether the legs are still in play. DraftKings offers early cash-out options for certain bets, allowing you to take a smaller payout before all the legs have been completed, if the system finds it favorable.

What happens if an event in my Same Game Parlay is canceled?

If an event in your Same Game Parlay is canceled or postponed, that specific leg of the parlay is typically voided. The bet would then adjust, and the remaining legs will determine the payout. Make sure to note that rules regarding cancellations may vary by sportsbook, so it's important to review DraftKings’ policies.

Are Same Game Parlays a good choice for beginners?

While Same Game Parlays can offer larger potential payouts, they come with more risk. Beginners should carefully consider each leg and avoid the temptation to stack too many risky bets. Start small and work your way up as you become more familiar with the markets and how outcomes can play out.

How do I log my Same Game Parlay bets?

You can easily log your Same Game Parlay bets by accessing your bet history in the DraftKings app or website. Your bet slip will display all the legs, wager amounts, and potential payouts. Keeping a log of your past bets can help you track your betting patterns and improve future wagers.

Are there examples of successful Same Game Parlays?

There are many examples of bettors hitting large payouts by successfully predicting all legs of a Same Game Parlay. For instance, during the NFL season, bettors may place a parlay combining player props, final scores, and point spreads for a higher return. However, these wins are rare, as all legs must hit for the parlay to pay out.

Can I place future bets in a Same Game Parlay?

While Same Game Parlays are usually tied to a single game, you cannot include future bets, such as betting on the next Super Bowl winner, in a Same Game Parlay. Futures are considered long-term wagers and must be placed separately from game-specific parlays.

What happens if multiple legs of my Same Game Parlay lose?

If multiple legs of your Same Game Parlay lose, the entire parlay is considered lost. Similarly, even if only one leg fails, the outcome is the same—you forfeit the entire wager.

<p>Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, <a href="https://www.rg.org">RG</a> prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.</p><p><strong>Experience:</strong></p><ul><li>Over 20 years in writing and editing across multiple industries</li><li>Former head of regional innovation at BMO Financial Group</li><li>Senior Writer, Online Casino Reports</li></ul>
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Paruyr Shahbazyan began his business career in 2000 as a private entrepreneur. Over thirteen years, he developed a deep understanding for business and leadership, laying a solid foundation for his professional journey.

In 2013, Paruyr stepped into the sports and betting industry as the founder and president of Bookmaker Rating. This online mass media platform, which he led until 2020, focused on providing in-depth analysis and insights in sports betting, earning a reputation for its quality content. 

Continuing his innovative approach in 2022, Paruyr co-founded Azuro, a decentralized betting protocol. This venture showcases his dedication to integrating advanced technology in the evolving landscape of sports betting. Through these diverse experiences, Paruyr has continuously influenced and shaped the betting industry, driving new trends and setting high standards.

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Engaged in private entrepreneurship2000-2013
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Paruyr Shahbazyan's core beliefs lie in the power of informed decision-making and integrity in the betting industry. He understands that the foundation of successful betting is not just about odds and predictions, but also about the trust and reliability of the information provided. Paruyr advocates for a betting environment where transparency and knowledge are paramount, ensuring that bettors are well-equipped with accurate data and insights.

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Paruyr's vision is to revolutionize the sports betting industry through the integration of technology. He sees the future of betting as a blend of traditional sports knowledge with innovative tech solutions, like decentralized protocols, to enhance user experience and fairness. His aim is to create platforms that are not only user-friendly but also uphold the highest standards of ethical betting, contributing to a more responsible and enjoyable betting culture.

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Looking towards the future, Paruyr envisions a betting landscape that is more inclusive, technologically advanced, and globally connected. He anticipates a significant shift towards more decentralized and transparent betting systems, driven by blockchain technology. Paruyr is committed to being at the forefront of this change, continuously exploring new possibilities and innovations that can redefine what it means to engage in sports betting in a digital world. His focus is on building systems that prioritize user empowerment, fairness, and the global growth of the sports betting community.

 

Sol Fayerman-Hansen
Sol Fayerman-Hansen
Editor-in-Chief

Sol has over 20 years of experience in writing for diverse industries including sports, gambling, regulation, technology, and startups. As the Editor-in-Chief at RG, Sol brings a wealth of knowledge and expertise to the role, focusing on delivering transparent, evidence-based content grounded in thorough research. Sol's mission is to empower readers to enjoy gambling responsibly and make informed decisions, enhancing their overall experience through insightful and engaging content. Under Sol's leadership, RG prioritizes the highest standards of integrity and reliability, ensuring that all information provided is accurate and trustworthy. Sol's dedication to transparency and research-based writing helps create a responsible gambling environment where readers can truly benefit from the content. This commitment to excellence has positioned RG as a leading source of information in the gambling industry.

Experience:

  • Over 20 years in writing and editing across multiple industries
  • Former head of regional innovation at BMO Financial Group
  • Senior Writer, Online Casino Reports
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Between 2022 and 2023 he worked for a betting startup called NorthStar Bets, and in 2024 he contributed to Oddspedia before joining the Responsible Gambler team.

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