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Parlay

A parlay, accumulator, combo bet, or multi is a single bet that links together two or more individual wagers, usually seen in sports betting. Winning the parlay is dependent on all of those wagers winning together. If any of these bets in the parlay lose, the entire parlay loses. If any of the plays in the parlay ties, or "pushes", the parlay reverts to a lower number of wagers with the payout odds reducing accordingly. Parlay bets are high-risk, high-reward; linking the possibilities drastically reduces the chance of the bet paying off overall. The benefit of the parlay is that there are much higher pay-offs, although as usual, casinos and bookkeepers offering parlays often exploit the poor calculation of gamblers by not increasing the pay-out as much as the odds truly demand, with the effect of the house edge increasing in parlays.

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DEFINITIONS
  • noun(originally United States) A bet or series of bets where the stake and winnings are cumulatively carried forward; an accumulator.
  • verbTo carry forward the stake and winnings from a bet on to a subsequent wager or series of wagers.
  • verb(by extension) To increase (an asset, money, etc.) by gambling or investing in a daring manner.
  • verbTo have a discussion, especially one between enemies.
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Synonyms
double up