Parlay in sports betting refers to a type of wager in which multiple bets are placed on multiple events with the potential for a much larger payout. All of the bets in a parlay must win in order for the overall wager to be a winner. The payout for a parlay is determined by multiplying the odds of all the individual bets together. Because all of the bets in a parlay must win in order for the wager to be a winner, parlays are considered to be a higher risk than placing individual bets.
Simple explanation of parlay
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