Super Bowl Parlay Bets – Guide 2023 – Top Tips
The Super Bowl is one of the most important events on the American sporting calendar. Even people who would barely watch football at any other time of the year enjoy gathering around the television, a few snacks in front of them, and being surrounded by their friends and family.
It is no wonder that the Super Bowl manages to become one of the most gambled-on events in the country.
On this page, we are going to walk you through how you can place your parlay bets.
What Is a Super Bowl Parlay Bet?
We are sure that some of you likely already know what a parlay bet is, but let's clear things up a little bit, shall we? Just for those who may be new to the whole Super Bowl betting world, parlay or not.
We are sure that you all know what a standard bet is. You choose a single line, perhaps the winner of a game (known as the moneyline), place your stake, and hope that you win. It is the simplest form of gambling.
A parlay bet isn't that much more complicated. However, rather than having a single line on a bet, you could have multiple lines on it. For example, you could have a bet that has all of these lines:
- Team to win
- Winning team to score more than 48.5 points
- Player to score more than 1.5 passing touchdowns
In order to win a Super Bowl parlay bet, each and every one of the lines on your parlay needs to win. So, with our example, if your selected team won and a player scored more than 1.5 passing touchdowns, you wouldn't win the bet if they only scored 48 points.
A Super Bowl parlay bet (as with any other parlay) is an incredibly risky bet. However, the payoff is that you end up making a lot more money if you win.
How To Construct The Best Super Bowl Parlay Bets
Constructing your parlay bet isn't going to be that different from any other parlay bet. In fact, the individual components of a parlay bet are not going to be that much different from making a typical bet either. However, because your bet could fail at any one of the components of this bet, you probably will want to put in a bit more thought than you would normally do so if you want to stand the greatest chance of winning.
In this section, we want to give you a couple of tips and tricks to ensure that you make the best Super Bowl parlay bets.
Keep Your Stake to a Minimum
Most of the time, we wouldn't recommend that you overdo it on the stake with a parlay bet.
Parlay bets are notoriously difficult to win. While some people have made bank with a parlay bet, most do not. In fact, most top gamblers tend to steer clear of them simply because the chance of winning with a parlay is ridiculously small.
Keep your bet to no more than a couple of dollars. As with every bet that you ever place, only gamble with money that you can afford to lose. Even if the bet looks like it is a dead-cert to be a winner, assume that it is not going to win. If you are gambling to cover the bills, then parlays (and gambling in general) is not for you.
Keep The Number of Betting Lines Low
The more lines you add to your bet, the less chance you have of winning.
A parlay bet can be as low as 2 lines, and you can have an unlimited number of lines on it.
In our opinion, the sweet spot for a good parlay bet is somewhere between 3 and 5 lines. Less than 3, and you may as well just place individual bets. More than 5, and the chances of winning drastically cut off.
Of course, you can go with dozens of lines, if you want. The people that have won the big bucks from small bets in sports gambling have hit those big wins with dozens of lines. Just don't think it is going to happen to you. In 99.99% of cases, placing those multi-line parlay bets is not going to give you a return. You would probably earn more by throwing your cash into a gutter.
Look For The Best Betting Odds
How much your parlay bet will pay out will be dependent on the betting odds for each individual bet that make up your parlay. This means that you will want to shop around to ensure that you get the best odds for as many of those lines as possible. If you skip ahead a little bit, you will find a list of some of our favorite sportsbooks for great odds.
Choose Easy-to-Predict Betting Lines
As we said at the start, the Super Bowl is the largest sporting event in the US. This means that every sports betting company is going to be wanting a slice of that gambling pie. They also know that many people betting on the Super Bowl may not be well-versed in gambling. This means that you will get a ton of odd bets. Avoid them.
Stick with bets where you could look at past stats and see what is likely to happen. For example, the following bets are great for a Super Bowl parlay:
- Moneylines
- Points betting
- Player performance
Things that do not work so well are those that can be random:
- Final touchdown
- Length of the halftime show
- The color of Gatorade being consumed (yep, this is a real bet).
- The player who is zoomed on the most by the TV cameras (yep, another real bet).
Add a Moneyline In There
Whenever we make a parlay up, we always like to include the moneyline. It is a good addition to your parlay for a few reasons:
- A lot of the time, there is a clear favorite.
- It bulks up the odds without adding unnecessary risk
Now, you don't have to add a moneyline. A lot of gamblers don't. We just like it for that odds boost, and because it is one of the easier-to-predict bets that you can place.
Most Should Be Prop Bets
Most of the bets on your Super Bowl parlay will be those props or points bets. Once again, we want to reiterate that you need to be avoiding unpredictable bets.
Research, Research, and More Research
Every single line that you add to your parlay needs to be backed up by mounds of research. You want to gather stats. You want to read the news. Find out the following:
- The current performance form of the competing teams.
- How the teams have often fared against one another, particularly in recent seasons.
- Whether there are any major injuries or morale issues.
- The average number of points a team scores.
- The best-performing players
We are sure that you know the drill. For every line you add to your parlay, you want to ensure that you have 2-3 pieces of evidence to back up adding that line. Remember, it may feel great to add a weird betting line with very long odds, but that could mess up your entire bet. If you are wanting to place those long-odd bets, then don't include them as a parlay. Make them a single bet. A least that way you won't be messing up a carefully thought-out parlay bet.
What Should I Put On My Super Bowl Parlay Bets List?
When you are putting together your Super Bowl parlay bets list, there are a few bets that we suggest that you look at. In this section, we will go through them. Once again, you will want to ensure that everything that you do is backed up by research.
Remember, these are just ideas. You don't have to include any of these in your list if you don't want to.
Moneylines
This is when you predict who will win the game. As we mentioned before, we always like to include them on a Super Bowl parlay as by looking at past form, they can be easy to predict. A good amount of time, the moneyline is an almost guaranteed win on your Super Bowl parlay, and it is there to bulk up the odds a little bit.
Don't include a moneyline if the game is a bit too close to call.
Point Spreads
The point spread is essentially the difference between the two teams at the end of the game e.g. you could bet on one team finishing more than 15 points ahead of the other.
Generally speaking, you won't get a massive spread of points in the Super Bowl. These two teams are the best-performing teams over the course of a year, after all. However, if one team is notorious for leaving the field with massive point hauls, it may be worth looking into.
Point-based Bets
These are where you predict how many points a team will score (you may sometimes see these referred to as over/unders). These are great bets to include on your Super Bowl betting list. This is because teams tend to be fairly consistent with their point scoring. Look at their past playing history to get a rough idea of how many points they are likely to score during the game.
Player Performances
Here is where you look at player performances e.g. passing yards or number of touchdowns.
These bet lines are risky, but they often have the greatest odds. This means that they also offer the greatest payouts.
We like to squeeze one or two player performance lines on our list, although not without a ton of research due to the risk. Sure, there is a chance that we will lose, but we love how much extra player performance odds can add to our Super Bowl parlays.
What Are The Best Parlay Bets For Super Bowl?
A combination of a moneyline, a points bet, and 2-3 player performance (or other prop) bets is a surefire winner. There will always be a risk here, but as long as a bet can be properly researched before you add it to your line (i..e. it is not based on randomness), then you are in for a good shout of winning.
Are Parlay Bets Recommended?
It depends.
If you are serious about gambling, then probably not. Because parlay bets are some of the riskier bets that you can place, they tend not to be worth having a stake on. If you are serious about betting on a line, then have it as a single. While the payout on a win will be smaller, you won't have your other bet choices messing up a potential winning line.
We like parlay bets as a fun bet. It is thrilling to know that we can win a decent chunk of change if the bet comes through. However, we do not place these bets as a way to win money. They just make the game much more interesting.
If you do place a parlay bet, then you may want to look for an online sportsbook that has an early cash-out option. If the site has early cash-out, then you can withdraw your bet before the end of the game (assuming it is on track to winning). You won't win anywhere near as much as you would if you saw the bet through to the end of the game, but you should win some cash and that is nice. It reduces the risk a little bit.
Our Recommendations For The Best Super Bowl Betting Sites Online
We know that some of you may be at a loss as to where to gamble online. Don't worry. Everybody is new to online betting at some point.
If you are looking for a sportsbook that offers great odds for your Super Bowl parlay bets (as well as some great bonuses when you sign up), then we recommend any one of the sites below. If you want to find out more about these sites (rather than just their names), then we have covered them in a ton of depth elsewhere on this site:
Summary
There you have it. We have tried to give you as much information as we could about Super Bowl parlay bets. You should have enough information to get started now. This includes the types of bets that you want to place and the sites that you could be gambling at. We wish you all the success in your gambling adventure! If you don't win, at least you had fun, right?
FAQ's
What does a $100 4 team parlay pay?
This is always going to be dependent on the odds. However, the average 4-team parlay pays out at 12-1, so you could get up to $1,200 + your initial stake. However, some 4-team parlays may pay more, and others less.
What does a $50 2 team parlay pay?
A 2-team parlay normally pays out odds of 2.6/1, so you could win $130 plus your initial stake. Although, it will always be dependent on the type of bet you add to your parlay.
How much does a $10 7-team parlay pay?
The average odds for a 7-team parlay is 90/1. This means a $10 bet can pay $900 plus your initial stake.
Has anyone won a 15 game parlay?
It has happened several times, with the most recent winner bagging a 20,000-1 odds with a $5 bet. Taylor Polio ended up with a whopping $100,005!
Has anyone ever hit a 25 leg parlay?
Yes, although this is very rare. The latest winner won just shy of $250,000 on a single $25 bet.
Are NFL parlays worth it?
As a way to have a fun bet, yes. However, they are not a way to make large sums of cash, They are too risky as a stable source of betting income.
Do you pay taxes on parlays?
You will pay federal tax if you earn more than $600 in gambling winnings in a financial year. Things may be different at a state level.
How much does a 5 team NFL parlay pay?
It will be dependent on the betting lines on your parlay. The average parlay with 5 teams has odds of 22/1.
