Sportbook Rules and Wagers: Types of Sportbook Parlays . While pretty much any sportbook website will offer parlay wagers, you should be looking for one that lets you make your own parlays, at least to some degree. Either way, it’s important to become acquainted with the most common types of parlay bets that wagering sites have to offer. The most basic type there is is called readymade parlay. In a readymade parlay the bookmaker provides a fixed list of 5 to 8 games, and all you have to do is make a selection. While this may seem very convenient, it really isn’t, since you would be foregoing the ability to make your own choices besides a few limited ones. Not to say that the payout is a fixed amount as well.
Fixed-odds parlays, on the other hand, give you more liberty. In this case, the sportbook produces a list of sporting events, such as that week’s NFL or NBA games. You can pick games from the list to make your own parlay bet. Any given parlay can have as many plays as 6, or even 10. While that’s usually the maximum allowed, some websites may let you make an even larger parlay. (Note: generally speaking, computed parlay odds pay better than fixed-odds).
True parlays is really where it’s at, though. You can go crazy and pick as many games and events from as many sports as you want to. Don’t go literally crazy; true parlays give you a lot of flexibility, but it’s up to you to use it wisely. In addition, there are many other elements that you can throw in for good measure. You can bet on the point spread, the over-under, and if the sportbook allows you to, you can buy and sell points too.
Finally, if you have a parlay that consists of three or more plays, you can break it down in a subset. As you probably know, it takes only one incorrect selection to lose an entire parlay bet. However, if the bookmaker allows you to make subsets, you may bet on four, three, or two out of a five play parlay (for instance) to be correct. This way you can recoup some of your money, and even score small winnings regardless of whether some of your picks pan out or not. Although making parlay wagers may sound complicated at times, getting to know this type of betting is a great way to increase your returns.