A parlay bet, an accumulator or combo set, is a single wager that combines multiple individual bets into one larger bet.
Why is it called a parlay?
The term “parlay” has its origins in French, where the word “parler” means “to talk.” In the context of betting, the term evolved to describe a bet that combines multiple individual bets into one larger bet, creating a chain or series of linked wagers.
The idea is that each bet in the series wins the stake, and winnings “talk” or carry forward to the next bet in the sequence.
The term “parlay” is commonly used in the United States, while in other parts of the world, such as the United Kingdom, the term “accumulator” is more prevalent.
People in US call it a Parlay, Other places like the UK call it an Accumulator while others call it a Multibet
Regardless of the name, the core concept remains the same: a parlay is a single bet that links together two or more individual bets for a higher potential payout, contingent on all the successful individual bets.
How does it work?
The key concept of a parlay is that all the individual bets must be successful for the entire parlay to win. If any individual bets within the parlay loses, the entire parlay is lost.
Parlays offer the potential for higher payouts than placing individual bets, but they also come with increased risk due to the requirement for all selections to be correct.
To calculate the potential payout of a parlay bet, you need to convert the odds to decimal odds( in case they are not in decimal, multiply all the decimal odds together, multiply the result by your bet amount, and subtract your original stake to get the parlay odds.
For example, if you have a three-team parlay with odds of 1.25, 1.78, and 1.615, you need to do the following:
- Use the odds in decimal: 1.25, -1. 77 and 1.615
- Multiply the odds: 1.25 x 1.77 x 1.615 = 3.593
- Multiply by the bet stake: 3.593 x 22 = 79.046
- Subtract the stake: 79.046 – 22 = 57.046
As you can see, the final odds (hence wins) are higher than other more forgiving bets like a chain bet.
It’s important to note that taxation may apply to your final payout according to your state or country. For example, in Kenya, you will be subjected to 12.5% excise tax (before payout) and 20% income tax (during payout).
How to place a parlay bet on 1xBet
- Log in to your 1xBet account. If you don’t have an account, you’ll need to sign up here
- Once logged in, navigate to the sportsbook section, where you can find a variety of sports and events to bet on.
- Select the individual events or matches you want to include in your parlay. You can choose from different sports and markets.
- Add Selections to Bet Slip. On the bet slip, you will see an option to create a parlay as ‘Accumulator.’
- Enter the amount you want to wager on the parlay in the stake field on the bet slip.
- Double-check your selections, stake, and potential payout on the bet slip. Ensure that all the information is correct before proceeding.
- Confirm and place your bet once you are satisfied with your parlay selections and stake. This involves clicking the “Place Bet” button.
- As the games or events unfold, monitor the progress of each selection within your parlay. All individual bets must be successful for the parlay to win.
- If all selections in your parlay are correct, you will receive a payout based on the combined odds of the individual selections.
- If your parlay is successful, your winnings will be credited to your 1xBet account.
An Example of a Parlay Bet I Placed on 1xBet (and Results)
- I Adjusted the stake amount to KES.22 and placed the bet.
2. Bet accepted
3. Bet Results
Pros and Cons
- Higher Payouts
- Entertainment Value
- Small Investment, Big Return
- Flexibility in Selections
- Increased Risk and Lower Probability of Winning
- Reduced Control over the outcome