However, if the player wins all the wagers in the parlay, the player wins a higher payoff than if the player had placed the bets separately. If the player loses one wager, he loses the entire bet. Parlay – What is a Parlay Bet?Ī parlay is a single bet that links two or more wagers to win the bet, the player must win all the wagers in the parlay.

Learn about all popular types of bets, including parlays, teaser bets, prop bets, and all the need to know terminology for betting on sports. Sports Betting Explained – Types of Sports WagersĬurious about the types of sports bet? Check out William Hill’s guide to sports betting, which covers all the need-to-know topics and terms.