How to Bet Parlay on PointsBet?

Peter N
February 10, 2023

PointsBet is an Australian based sportsbook that began operations in New Jersey as a partner of Meadowlands Racetrack in January 2019.  PointsBet offers a variety of sports betting options such as Points Betting, parlays, teasers, money line, and many more. Here at GamblerSaloon, we help you with the step-by-step guide on how to create an account and bet parlay on PointsBet online sportsbook.

At the present time, PointsBet online sportsbook is available in New Jersey, Indiana, Iowa Illinois, Colorado, and Michigan. Here, you can earn 1 reward point for every $1 parlay wager.

Parlay Bet

Parlay represents one of the most popular forms of sports betting. It is a very simple form of betting that requires the punter to pick the winner of two or more outcomes. In fact, they require all legs to win for bettors to collect. Certainly, parlays are comprised of as few as two legs to as many as the individual bookmaker accept.

In order for a parlay bet to win, you must win each individual selection bets. If all the individual bets win, you will get a much larger payout. However, if one of those bet loses, you lose the entire parlay bet.

There are different types of parlays such as Over/Under, Point Spreads, Teasers, Pleasers, and Moneyline.

Check our NBA expert picks and parlays and MLB free parlay to boost your winnings. 

Want to learn more about parlay? Check our parlay guide, where we explain in detail how does a parlay bet works.

Let us look in detail on how to place a parlay bet on PointsBet online sportsbook:

Step 1: Sign-in or Open an Account with PointsBet

As a parlay bet is a real money wager, one should have a valid online sportsbook account to start placing bets. You must be at least 21 years of age to create a PointsBet sportsbook account. In fact, opening an account with PointsBet is simple.

All you need to do is click on our exclusive PointsBet link, you’ll be redirected to PointsBet homepage. Click the ‘Signup’ tab at the top right of the homepage.

Now, fill the registration form, deposit money and start placing your bet. You can take advantage of two risk-free bets of up to $2000.

Once the signup process is complete, verify your account via email. At this point, you will be requested to confirm the details you provided.

Finally, log in to your account, deposit money, and start placing bets.

Step 2: Adding Selections to your Betslip

To place a parlay, navigate to a sport. For example, the NBA. From here, select an event and bet type you would like.

To start a parlay, select ‘Betslip’ instead of ‘Place Now’. Now, this will create a small blue bet slip in the bottom right corner of your screen allowing you to add more selections to your parlay.

From here, you can navigate to another game and select another bet type. For instance, adding a new money line bet makes it a two-leg parlay. Similarly, by adding another selection, makes it a three-leg parlay.

Step 3: Setup your Parlay Wager

Click on the blue betslip, which shows your parlay legs and odds to bring up the full bet slip. From here, you can scroll down and, in the box provided for parlay bet, enter the stake amount. In our example, the box shows as 3 Leg Parlay.

Indeed, if you have any bonus bet available, you can use it instead of entering the amount.

As soon as you enter the amount, you can check the estimated returns.

Amending your Betslip

You can amend your parlay betslip as many times as you like but only before confirming the bet. In fact, you can add a new selection, delete a selection, or change the stake.

For instance, the odds change very frequently for live events. Therefore, you might need to delete the event or change the stake.

Beside each selection, there is a small ‘x’ icon that allows you to remove the selection from the bet slip. Also, you can remove all the selections at a time by clicking on the ‘Clear List’ option.

Step 4: Place Your Bets

This is the final step. Once you enter the stake amount, click ‘Place Bet’. On the confirmation screen, check your parlay legs then click ‘Confirm Bet’.

You will get a green confirmation notification as it is successful. To check your parlay pending bets, go to ‘Account’ – ‘Pending Bets’ and you can view your selections.

You should place your parlay as quickly as possible because the odds, markets, or availability of your bet might change as the event progresses.

Your parlay bet is settled only after all the events are completed.  

Bet Parlay on PointsBet – FAQs

Can I bet parlay on the PointsBet sportsbook app?

Yes, you can bet parlay on PointsBet mobile app. The PointsBet sportsbook mobile app is available for both Android and iOS devices. Both Android and iOS users can download the app via links provided on the main PointsBet site, or iOS users can access it via the iTunes app store.

Does PointsBet offer any parlay promotion?

Yes, indeed. PointsBet offers a parlay promotion in the form of a refund. For any 4+ leg parlay, if 1 leg fails then you can get money back up to $25.

Must Place Minimum of 4 Leg Multi to be eligible for the promotion. Only Parlays with exactly 1 leg losing will be eligible for the promotion. 1 Parlay per day eligible for a refund. If multiple parlays are placed, your 1st parlay that qualifies will get refunded.

Each leg must be a minimum price of -500 to be eligible for the promotion. Total Parlay Price must be a minimum of +100 to be eligible for the promotion.

Can I bet parlay on PointsBet from Pennsylvania?

Unfortunately, you cannot place a parlay on PointsBet from Pennsylvania. Because, to place a real money wager, PointsBet verifies your location using geo-location technology.

At the present time, you can bet on parlay on PointsBet from New Jersey, Indiana, Iowa, Illinois, Colorado, or Michigan. In the future, as PointsBet legalizes in more states, you can bet there too.

How to calculate the parlay odds?

Parlay odds are derived by multiplying the odds of each leg, and these can add up quickly. For instance, a three-leg money line parlay of +110, +120, and +150 pays at +1055 odds. So, for a $10 parlay, you can collect $115.50, with a profit of $105.50.

What is the drawback of a parlay bet?

With parlays, you can win big but small outlay. In the above example, if one of those three legs losses, the punter receives nothing. If the bettor wagered a small bet on each individual leg, then the bettor would have won a small profit rather than a 100% loss.

Author Peter N