A Parlay bet is one of the most exciting and popular wagers, primarily among recreational bettors. But what is a parlay? How do I win a Parlay? What are the odds of my Parlay? Which sportsbook should I place my parlay bet with? Well, luckily for you, this handy Parlay guide will detail everything you need to know, including some expert tips from our handicappers on the best ways to win your parlay wagers.
Best Kenyan Sportsbooks for Parlay Betting
|
Operator
|
Bonus
|
Features
|
Claim Now
|
|---|---|---|---|
|
200% Bonus
|
|
|
|
100% Bonus
|
|
|
|
100% Bonus
|
|
|
|
100% Bonus
|
|
|
|
50% Free Bet
|
|
|
|
100% Bonus
|
|
|
|
Promotions
|
|
|
|
Jackpot Focus
|
|
|
|
50% Free Bet
|
|
|
Parlay definition: What is a parlay bet?
A Parlay bet involves combining multiple individual selections into a single wager. The main difference between a parlay bet and a straight bet is that all of your selections must win for your parlay bet to cash. A single losing individual pick means the entire parlay bet results in a loss.
Any wager that has two or more selections is considered a parlay bet, and you can usually add up to 14 selections, but this depends on the sportsbook.
The more selections you include, the greater the odds, but also the greater the difficulty, so finding the balance between risk and reward is important.
How to win a parlay bet
Parlay Bets are incredibly popular as they can be one of the most lucrative wagers, but they come with increased difficulty with each selection you add to your parlay.
The unpredictability of sports is what makes it great and what keeps us all engaged in the action hooked. However, unpredictability and sports betting are not the best of friends, and in particular parlay betting, as just one bad beat on a parlay slip is enough to see the entire wager lose, regardless of how many individual winners you have alongside it.
With that in mind, our expert handicappers have created a few top tips for building a parlay to help you win your wager and make it a fun way to bet.
Check out our experts’ top-three parlay tips below:
- Stick to 2, 3, 4, or 5-team parlays most of the time. As mentioned above, each selection you add increases the difficulty so over time it is more likely to be profitable when keeping to the smaller-selection parlays. Those bigger 10-team parlays can be great fun, but keep those stakes to a minimum and have smaller parlays as your main types.
- Shop around for the best odds and promotions. Sportsbooks’ odds are a competitive market, and not all online sportsbooks in Kenya offer the same odds and often try to outdo one another. While there is often only a marginal difference between sportsbooks, in a parlay those margins quickly add up. For example – if you wager a 3-team parlay with each selection at odds of 1.95 instead of 1.83, your payout would be around KSh 7,415 instead of KSh 6,130 for a KSh 1,000 stake, so around KSh 1,285 more in returns just for shopping the odds. Promotions are also a great way to try to gain an edge when betting parlays. Some Kenyan sportsbooks may offer parlay insurance, acca boosts, or similar promotions from time to time. Nothing is worse than hitting four out of five winning picks, only for the last one to bring your parlay down. This is where parlay insurance can ease the blow. Parlay insurance may give you your stake back up to around KSh 2,500 in site credit if your 5+ leg parlay misses by one selection. Not quite the big win you wanted, but at least you have another shot at winning with your site credits.
- Manage your bankroll. Being disciplined with your bankroll is key long term, as not all parlays will win, particularly in football. But if you keep your stakes low and consistent, you’ll have a better chance at a profit.
Check out below for a table of the typical handicap parlay odds.
| Number of Teams | Odds | Payout to a KSh 10,000 bet |
|---|---|---|
| 2-Team Parlay | 3.60 | KSh 36,000 |
| 3-Team Parlay | 7.00 | KSh 70,000 |
| 4-Team Parlay | 12.00 | KSh 120,000 |
| 5-Team Parlay | 23.00 | KSh 230,000 |
| 6-Team Parlay | 46.00 | KSh 460,000 |
| 7-Team Parlay | 91.00 | KSh 910,000 |
| 8-Team Parlay | 181.00 | KSh 1,810,000 |
| 9-Team Parlay | 361.00 | KSh 3,610,000 |
| 10-Team Parlay | 721.00 | KSh 7,210,000 |
What are round robin parlays?
A Round Robin Parlay is a type of bet that allows you to create multiple smaller parlays from a larger list of picks. You may have seen the round robin option at your favorite sportsbook and wondered what it is and how it works. Well you’re in luck, as you can check out all of the key details below.
A round robin is a bet in which you simply create multiple parlays from a series of picks. The most common type of round robin bet is to choose three teams and create three separate two-leg parlays from them. For example, if in the opening week of the football season you like Gor Mahia +1, Tusker FC +0.5, and AFC Leopards -0.5, you can add those three picks to your bet slip and bet on each two-team parlay combination. In the example above, you would have 3 separate 2-team parlays that look like this:
- Gor Mahia +1 & Tusker FC +0.5
- Tusker FC +0.5 & AFC Leopards -0.5
- Gor Mahia +1 & AFC Leopards -0.5
If one of your teams doesn’t hit, then both of the parlays they’re in will lose. But the other parlay can still win to either see a profit or mitigate some of your losses. If one of your games is a push, then the two parlays they’re involved in would become straight wagers on the other selection.
One of the key details to remember with round robin bets is that you are investing an amount per combination. So in this case, if you are putting down a KSh 1,000 round robin, with 3 combinations your total investment would be KSh 3,000. In other examples with more teams, the number of combinations can rise sharply so it’s about finding the right balance. Check out all of the round robin parlay options, including the number of combinations and total investments in the table below.
| Number of Picks | Picks Per Parlay | Total Combinations | Total Investment (KSh 1,000 Per Parlay) |
|---|---|---|---|
| 3 | 2 | 3 | KSh 3,000 |
| 4 | 2 | 6 | KSh 6,000 |
| 4 | 3 | 4 | KSh 4,000 |
| 5 | 2 | 10 | KSh 10,000 |
| 5 | 3 | 10 | KSh 10,000 |
| 5 | 4 | 5 | KSh 5,000 |
| 6 | 2 | 15 | KSh 15,000 |
| 6 | 3 | 20 | KSh 20,000 |
| 6 | 4 | 15 | KSh 15,000 |
| 6 | 5 | 6 | KSh 6,000 |
| 7 | 2 | 21 | KSh 21,000 |
| 7 | 3 | 35 | KSh 35,000 |
| 7 | 4 | 35 | KSh 35,000 |
| 7 | 5 | 21 | KSh 21,000 |
| 7 | 6 | 7 | KSh 7,000 |
| 8 | 2 | 28 | KSh 28,000 |
| 8 | 3 | 56 | KSh 56,000 |
| 8 | 4 | 70 | KSh 70,000 |
| 8 | 5 | 56 | KSh 56,000 |
| 8 | 6 | 28 | KSh 28,000 |
| 8 | 7 | 8 | KSh 8,000 |
How to bet a parlay
If you want to place a bet online via mobile or on the computer then it is very simple, and not much different from a normal straight wager.
All you need to do is head to your sportsbook and select all of your picks, whether they involve teams, totals or exotic bets. Once you have multiple selections on your bet slip, you will see the parlay option appear, as shown below. The odds will update with each selection added, and when you enter your stake into the bet slip, it will also calculate your potential winnings.
If you are trying to place a parlay bet at a betting shop or with a licensed retail sportsbook in Kenya, then simply tell the cashier or attendant the selections you want to parlay and the amount you wish to stake, and they’ll do the rest for you. Some retail sportsbooks will also have parlay cards you can fill out and take to the counter.