A parlay is a great wager if you’re looking to win a big amount of money from a small stake and is among the most popular type of wager placed by sports bettors. How do you win a Parlay Bet? To win a parlay wager all individual legs must win. For example, if you have five teams in your parlay bet then all five individual bets must win. Go for the big win. That’s how you create value with your parlay bets. Tip #2: Don’t fall in love with 5-plus team parlays. Sure, we’d all love to hit that 150/1 shot. But losing all your money isn’t much fun. The fact of the matter is when you’re betting the big parlays you’re rarely going to win.
One baseball fan in Las Vegas is celebrating this week. According to the Las Vegas Review-Journal, a lucky Las Vegas Parlay on the MLB was cashed out for $38 thousand this week. It’s the kind of win that all fans of parlay betting hope to get someday.
Today, we’re going to take a quick look at how this bettor managed to win so much money. We’ll also look back at some of the biggest sports parlay wins in history. First, let’s look at what exactly a parlay bet actually is.
Biggest Parlay Win Ever
What is a Parlay Bet?
If you’re a fan of sports betting, there’s a very good chance that you’ve heard of a parlay bet. Essentially, these are single-sport wagers that involve two or more teams winning. The more teams that you bet on at once, the larger and more lucrative your odds will become. As we’ve seen this week, these bets can earn you some serious money.
Parlay betting is also more difficult than traditional one-team betting. If you wager on three teams to win one week and just one of them loses, your entire bet is void. It’s one of the most exciting ways to make sports bets today.
Let’s look at a parlay example from Bovada, one of the most popular sports betting sites in the US. Here, we’ll look at a parlay that involves three teams from the MLB that are playing on August 29th.
- Oakland Athletics win vs. Kansas City Royals: -190
- Chicago White Sox win vs. Minnesota Twins: +150
- Texas Rangers win vs. Seattle Mariners: -175
With this parlay, you could wager just $10 and if each team wins, walk away with almost $50.
It’s that easy! Parlays can be made at almost all US online sportsbooks and inside most sportsbooks in casinos.
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Las Vegas Parlay on the MLB Earns Bettor $38K
One MLB bettor in Las Vegas managed to turn a $250 wager into $38 thousand this week. The unnamed sports bettor made his wager at the Cosmopolitan in Las Vegas, one of the most popular hotel-casinos in Las Vegas.
The MLB fan bet on eight different teams to win this week. He bet on the Cardinals, Reds, Phillies, Diamondbacks, and Athletics to win. He also took the under on the Braves-Rockies game, and the over on the Pirates-Phillies game. All of these bets proved to be successful, making it one of the luckiest Las Vegas parlay bets in recent memory.
$38K is a solid amount of money to leave Las Vegas with. Now is the perfect time to look back at some more of the biggest sports parlays to ever take place.
Biggest Sports Parlay Wins in History
Sports betting has never been more popular in the US than it is today. With PASPA now gone, every state in the US has the ability to set its laws on this industry. Many states now have legalized and regulated sports betting markets.
Most of the biggest bets in history have taken place in Las Vegas. For years, Nevada was the only state legally allowed to offer sports odds. Here are some of the biggest parlay bets ever won.
20,000 – 1 NFL Parlay Bet
Just a few years ago, Tayla Polia wagered $5 on an incredible 15-team parlay. Against all the odds, 20,000-1, to be exact, each team managed to win. She walked away from the sportsbook with an astounding $100,005.
2,500 – 1 NCAA and NFL Parlay
In late 2017, an unnamed bettor placed a $25 12-team parlay bet in Reno, Nevada. Each of the teams managed to win, earning the sports gambler $62,475. It was the biggest parlay win in Reno that’s been reported on.
232 – 1 MLB Parlay Bet
The recent lucky Las Vegas parlay bet in Las Vegas isn’t the only time that a bettor has cashed out wagering on the MLB. Just a few years ago, a baseball fan bet the under on four MLB games with a $500 parlay. Incredibly, the bets were successful, earning the gambler $115,971.
You don’t have to be in Las Vegas to make parlay bets right now. There are several great online sportsbooks available throughout the country right now. Almost all of them let you make parlay bets on major sports including the NFL, MLB, and NBA.
Will you be the next person to make a lucky Las Vegas parlay bet? If so, good luck!
One BetMGM user threw down a meager $10 wager on a wild, 11-team parlay across multiple sports over the weekend and, miraculously, it hit.
Look at this beautiful madness:
- Georgia Tech moneyline
- Arkansas State moneyline
- Appalachian State under
- North Carolina under
- Iowa State under
- Army under
- Duke +20.5
- UTSA moneyline
- Coastal Carolina moneyline
- Yankees moneyline
- Rockets-Lakers under
A $10 wager combining those 11 outcomes yielded a win of $152,341.28. Not too shabby.
College football underdogs, wild finish
Those college football moneyline bets came on significant underdogs, too. Georgia Tech (+12.5) and Arkansas State (+14.5) were both double-digit underdogs, but pulled off outright road wins over Florida State and Kansas State, respectively. Coastal Carolina was also a road underdog, but it blew out Kansas 38-23 late on Saturday night.
The three college football under bets all hit fairly comfortably, but the UTSA moneyline was a close call. Extremely close.
UTSA beat Texas State 51-48 in double-overtime in what was the most-exciting game of Week 2. The Roadrunners stormed out to a 24-7 halftime lead and appeared to have a victory sealed when Rashad Wisdom returned an interception 81 yards for a touchdown to put the Roadrunners up 41-28 with 3:24 to play. But that was when things got wild.
Texas State managed to force overtime by scoring two quick touchdowns. The second was a 91-yard punt return by Jeremiah Haydel that looked like it was going to put TSU ahead. Instead, Alan Oroza hooked the extra point and the game went to overtime with the score tied at 41 apiece.
Oroza’s rough afternoon only continued. After the teams traded touchdowns in the first overtime, Texas State settled for a short field goal to open double-overtime. Oroza missed again, this time from just 20 yards out. UTSA then clinched the victory with a field goal of its own.
A brutal outcome for Texas State was a big win for our parlay hero.
William Hill Parlay Odds
© Provided by Yahoo! Sports Arkansas State's upset victory over Kansas State was part an MGM bettor's successful 11-team parlay over the weekend. (Photo by Peter Aiken/Getty Images)MLB, NBA close calls
And if nine college football picks wasn’t enough for this bettor, his MLB and NBA wagers both came down to the wire. A 10th-inning, walk-off sacrifice fly by Luke Voit gave the New York Yankees a 2-1 moneyline win over the Baltimore Orioles while the under 217.5 narrowly hit in Game 5 of the Western Conference semifinals between the Houston Rockets and Los Angeles Lakers.
The final score: 119-96. That’s a total of 215, 2.5 points under the total.
All in a day’s work.
William Hill Parlay Calculator
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Biggest Parlay Winners
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