Correlated parlays in tennis refer to the practice of combining multiple bets on related outcomes within the same match or across different matches, where the events are interdependent. For example, if a bettor places a parlay on a player to win a match and also bets on them to win in straight sets, the outcome of the first bet directly influences the likelihood of the second. This strategy leverages the interrelated nature of the bets, potentially increasing the overall payout since the combination of correlated events is priced differently than individual bets. However, it also carries heightened risk, as the success of one bet affects the others, making it crucial for bettors to analyze matches closely to identify favorable correlations.