Nothing is worse than hitting four out of five winning picks, only for the last one to bring your parlay down. One of the best examples of this is FanDuel Sportsbook’s various parlay insurances. Promotions are also a great way to try to gain an edge when betting parlays. For example – if you wager a 3-team parlay with each selection at odds of -105 instead of -120, your payout would be $74.42 instead of $61.62 for a $10 stake, so $12.80 more in profit just for shopping the odds. While there is often only a marginal difference between sportsbooks, in a parlay those margins quickly add up.

Shop around for the best odds and promotions. Sportsbooks’ odds are a competitive market, and not all online sportsbooks offer the same odds and often try to outdo one another.

Those bigger 10-team parlays can be great fun, but keep those stakes to a minimum and have smaller parlays as your main types.

Stick to 2, 3, 4, or 5-team parlays most of the time. As mentioned above, each selection you add increases the difficulty so over time it is more likely to be profitable when keeping to the smaller-selection parlays.

Fanduel parlay