Betting a parlay on sportsbooks here in Maryland is always a bit of a risk – but the potential rewards (sky-high payouts) almost always make them worth giving a shot! Of course, suppose you’re going to get into parlay betting. In that case, you need to understand better how these kinds of wagers work, what the parlay odds will look like, and what you can do to tilt the odds in your favor (as much as possible) without wiping out your potential for big paydays. That’s what we hope to help you within the guide below.
- Best sportsbooks with MD Parlay betting 2023
- Best sportsbooks in Maryland for Parlay Odds
- Getting started with Parlay Betting in Maryland
- FAQ's About Parlay Betting Maryland
Best sportsbooks with MD Parlay betting 2023
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Best sportsbooks in Maryland for Parlay Odds
Of course, a big piece of the puzzle in getting into parlays with the most potential to win is finding the right sportsbook to get started in the first place.
And while there are a bunch of different Maryland online sportsbooks to pick and choose from here in the state, a handful really is the “cream of the crop.”
The options we highlight below offer great wager opportunities, help you figure out how to calculate parlays before you agree to them, and offer incredible payouts – and usually some pretty cool bonuses – for parlay action, too.
BetMGM Parlay Betting
Right out of the gate, let’s talk about MGM and their parlay set up. For starters, they make it really easy to understand what you can get into when betting a parlay (which kinds of wagers are available) and which ones are off-limits.
They also have a really easy-to-use tool that helps you figure out how to calculate parlays so that you know what your odds are and what your potential payout is.
That’s a huge advantage, especially for new players. Combine everything else that MGM does well in the online sportsbook world (which is basically everything), and this is a great place to jump in.
PointsBet Parlay Odds
This is another top-tier platform that offers a really polished parlay bet experience from top to bottom, though the odds here can sometimes be a little more stifling than they are elsewhere.
At the same time, that just means that the potential payout is increased if you hit each leg of your parlay – and there’s nothing wrong with that!
DraftKings Parlay Lines
DraftKings does a halfway decent job with their parlay option (somewhat argue that the FanDuel parlay system is probably a little better) and is well worth checking out.
This online sportsbook in Maryland isn’t quite as feature-rich as some of the other options on this list. However, they still are a well-known, well-respected, and legitimate operation worthy of consideration all the same.
Dave Portnoy absolutely LOVES picks and parlays, and that is totally reflected in the Barstool Sportsbook.
El Presidente has a Twitter feed filled top to bottom with pics all year long, the action that he is excited about getting into, and all of it is available 100% free of charge (you don’t even need a Twitter account to follow along).
The parlay action here is really solid, the platform is easy to use and jump into, and the odds are pretty decent for the industry as well.
FanDuel Parlay bets
FanDuel MD parlays are a little bit unique, though, in that this platform offers “Same Game Parlay” options – basically correlated parlays (which can be really rare to come by these days).
The idea here is that instead of placing multiple wagers from multiple games into a parlay, players instead combine multiple wagers from a single game into a parlay.
This kind of approach can dramatically increase your odds of winning and losing at the same time, but that adds to the risk/reward potential of parlay betting – a big part of its allure.
It should come as no surprise to anyone that this program is already becoming a huge hit. So don’t be surprised if other online sportsbooks in Maryland start off or something similar pretty soon.
Getting started with Parlay Betting in Maryland
There’s really not a whole lot to understand about parlay bets – at least not on the surface, anyway. The style of wagers really just combines multiple individual wagers (at least two) into one, larger, almost “super bet.”
Now instead of having to win each wager that you place individually (let’s say you place a bet down on the Baltimore Ravens total and over/under), you now have to win both of those wagers to win anything at all – and either “leg” losing means you lose the whole bet entirely.
Pros and Cons of Parlays
One of the reasons that people love playing picks and parlays (especially on Maryland online sportsbooks) is that the potential to win a whole mountain of money if you get a bunch of picks right is absolutely astronomical.
That’s a big bonus of doing these kinds of wagers and something that draws many people to this kind of action. Another big pro of this kind of bet is that you will always be engaged in a couple of different games (or a couple of different facets of one’s specific game).
Parlay action is especially hot and heavy during the college and professional football season, especially since there are so many games going on simultaneously, and the potential for you to hit on multiple legs increases exponentially.
On the flip side
On the flip side of things, though, it doesn’t take much at all to ruin an entire parlay betting action completely. All it takes is one leg – one tiny mess – and everything comes crumbling down from there!
On top of that, it’s important to understand that parlay odds (and any other fixed odds in the online sportsbook world, for that matter) are definitely going to be stacked against you – even more so than usual.
These bookies aren’t in the business of losing money, especially not when parlays have the potential to pay out as much as they do. Understand the pros and cons before jumping in with both feet, and you’ll be good to go!
Tips and tricks for Parlay betting in Maryland
Avoid Point Spreads
There’s no real “tried-and-true” system for betting a parlay that is going to pay out all the time (these are, after all, some of the riskiest wagers you can make). Still, almost every experienced sportsbook player is going to tell you to avoid point spread action whenever possible.
Lots of people think that the point spread is a surefire way to hit a home run, never recognizing just how much each point spread leg tilts the betting odds in favor of the house versus the player.
A lot of three-leg parlays that look like they are coming in against the spread at 7-1 odds are really 8-1 with a 50-50 chance of each individual leg actually landing. The deck doesn’t get much more stacked against a player than that! Steer clear of point spreads whenever possible.
Tinker with Time Spans
One of the coolest features of parlay style wagers is that they never actually payout (or are settled against you) until every single leg is complete.
This means that every wager has to be settled before the payout happens (or before you lose your money), giving you a lot more control over the timeline.
Some people like to throw down on multi-day, multi-week, or even multi-month style wagers (involving futures), but others like the fast-paced action of “game day” parlays that are going to pay out before the night is over. Just remember that you are in the driver’s seat here!
Think about multi-sport Parlay Bets
Multi-game parlays are pretty much part and parcel for this kind of betting action. Still, you might be able to expand your horizons a little bit – and tip the scales in your favor without having to enter teaser-style action – by playing multi-sport parlays instead of multi-game ones.
Tying up a couple of games across a couple of different sports with the best odds in your favor boosts your chance of winning and your chance of getting a bigger payout without you having to take on a mountain of risk at the same time. It’s a strategy worth considering, anyway!
FAQ’s About Parlay Betting Maryland
The only real difference between a parlay bet and accumulator wagers is where the sportsbook is set up and who their player base generally is made up of. In the United States, these kinds of wagers will be called parlays more often than not. In the United Kingdom and the rest of Europe, you’re usually going to see “accumulator” describing this type of bet.
People love to bet parlays because there’s such a huge risk/reward situation created. Sure, having multiple wagers out there independent of one another is a lot of fun. But knowing that all of your wagers are tied together that day – and that you have to hit all of them to win – just takes the excitement level up to a whole another level.
Combine that with the potential for some pretty decent paydays not possible with independent bets, and it’s easy to better understand their popularity.
There’s definitely some downside to betting a parlay, not the least of which is all the extra risk you take on that wouldn’t have been there anyway.
Remember, a sportsbook is in business to make money – not lose money. So every set of parlay odds they put out there stacked the deck in their favor just a little more, even if the potential winnings are significantly higher should a player hit.
Absolutely! You should be able to do a bit of parlay betting on pretty much any combination of wagers that a sportsbook offers. The only ones you’ll want to steer clear of having to do with point spreads, as we highlighted a moment ago.
The overwhelming majority of books out there are going to let you do parlay action with futures, though you might not be able to stretch these as far into the future as you could have independently. Most sportsbooks want to settle up within three months, maybe six months, and very rarely any longer than that.