Same game parlays are taking North America by storm.
Why are they such a popular bet?
What is a Same Game Parlay?
A same game parlay is a parlay that allows bettors to place wagers on spreads, totals, moneylines and props from within the same game. Bettors can use a same game parlay to group multiple wagers from the same game in an effort to build a larger payout. The odds of the payout are adjusted to account for the correlation in the wagers; otherwise the bettor would have a tremendous advantage over the sportsbooks. The same game parlay is extremely popular because it allows bettors to bet on combinations that they would have never been able to in the past.
What are Correlated Odds?
Correlated Odds occur when the outcome of one selection affects the outcome of another. In terms of sports betting, this means if one wager wins, it increases the chances that another wager will also win.
Example: a bet that includes Patrick Mahomes throwing for 3+ Touchdowns and a bet of Kansas City moneyline. Obviously if Mahomes manages to throw 3+ touchdowns, it increases the likelihood of Kansas City winning the game. In a same game parlay, bettors commonly select wagers that have a positive correlation with one another, like the same game parlay below.
Do All Sportsbooks Offer Same Game Parlays?
No, not all sportsbooks offer this feature. In 2019, FanDuel was the first U.S. sportsbook to offer this wager to its customers. With the growing popularity of the same game parlay, other sportsbooks have followed suit, with PointsBet actually now offering live same game parlays.
Are Same Game Parlays a Good Bet?
Due to the adjusted correlated odds offered by sportsbooks, no, same game parlays are not a profitable endeavor long term. Just remember, sportsbooks would not offer these wagers if it was not in their best interest.
With that said, they are incredibly fun style of wagering, which is why we've seen them take off in North America. Generally speaking, they are a great way to increase your interest in a specific game, but not a great way to increase your bankroll.