Super Bowl Parlay Betting

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What is a Super Bowl parlay?

If you are trying to find exciting ways to wager on the Super Bowl this year, parlay betting may have caught your attention. Parlays are one of the most common and enjoyable ways to bet on sports, so bettors are likely fixated on using this betting method for the big game. But before we dive into Super Bowl parlays, let’s look at what exactly a parlay bet is.

Parlay bets are when bettors take several different outcomes and tie them into a single bet. The odds will then multiply according to how many different odds are added into the parlay, with each outcome added boosting the odds higher and higher. Let's look at a quick example.

If you wanted to place a parlay bet on the Seattle Seahawks winning their game at +200, the New York Rangers winning their game at -200, and Israel Adesanya winning his fight at -120, instead of putting a bet on each outcome individually, you could place a parlay on all three things to happen at +625. The payout is now dramatically higher, but you are at a heightened risk because if one of those outcomes doesn't occur, you will lose the bet, even if the other two outcomes do occur.

With all that made clear, a Super Bowl parlay is simply a parlay bet made on a single game: the Super Bowl. 

Super Bowl LVII Parlays

Now that we have a sense of what Super Bowl parlays are, we can start to look ahead to Super Bowl LVIII. This game will be played on February 11th in Las Vegas, Nevada and the matchup has been established. The defending champion Kansas City Chiefs will be going head-to-head with the San Francisco 49ers, who were widely considered the favourite entering the playoffs. It is sure to be a dynamic battle, and bettors already are keeping their eye on the many lines that are popping up for the game.

The Super Bowl is the most popular American sporting event for betting, with millions of different wagers placed on the game. Many of these wagers include parlay bets. Because the Super Bowl is only one game, they are same-game parlay bets. That means there can’t be two Moneyline bets in a Super Bowl parlay.

As we move closer to the Super Bowl, lines will shift, and the set odds will only become clear once the game is set to start. With that being said, we can illustrate to you how Super Bowl parlays will look.

We now know that the game will feature Mahomes and the Chiefs against Purdy and the 49ers. So let’s envision what some of the different parlay options bettors will be able to wager on will look like. 

  • Chiefs to win (+100)
  • Patrick Mahomes to win Super Bowl MVP (+250)
  • Travis Kelce to catch a touchdown (-120)
  • Deebo Samuel Over 57.5 receiving yards (-100)

If each outcome then hit, you would receive $2,466 on a $100 bet. Super Bowl parlay bets are often composed of things like spread bets, prop bets, total bets, and more. While calculating the odds is hard, the top Canadian sports betting sites and betting apps will have algorithms that do this for you.

Types of parlays

There are several different types of parlays that bettors can choose from before the Super Bowl kicks off on February 12th. If you are unfamiliar, we’ll break down some of the common parlay options bettors will have available to them.

Moneyline + Totals

The most common Super Bowl betting markets are the money line and total game points.
For a quick refresher, a money line bet is a straight-up choice on who you think will win. Total game points refers to the total amount of points scored collectively by both teams and can go over or under. Using the previously mentioned teams as examples, a possible bet could be: Eagles win Moneyline and over 46.5 total points (+220).

Moneyline + Spread

Another common form of parlay betting is picking one team to win on the Moneyline and also betting on the spread. The spread, or point spread, is a line that oddsmakers create that represents the projected score differential in favor of one team. If a team is -4.5, they are favored to win by at least 4.5 points. If bettors bet for the spread, they are picking the favored team to win by five or more, and if they bet against the spread, they are betting the team won't exceed that projected differential. A Moneyline + spread bet is picking one team to win and also betting on the spread. For example, you could bet Chiefs -120 and Chiefs -3.5 (-100) in a parlay.

Spread + Total

A Spread + Total parlay is a parlay that is based on both the point spread and the total, or over/under. We’ve explained what both these mean, so we’ll jump right to the example. A Super Bowl parlay based on the spread and total could be 49ers +3.5 (-110) and over 46.5 points (-110).

Prop Parlays

Props are outcomes within the game that might not necessarily be tied to the final score. Game props are props based on game-wide or team-wide outcomes, while player props are props tied to individuals. Game props might be something like which team will lead after the first quarter or which team will score first. Player props might be yardage over/under totals for Brandon Aiyuk or a bet on which player will score first. Super Bowl prop parlays would be parlay bets that include game or player props.

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How to choose the best parlays

The best parlays are those with 2-5 outcomes, with a reasonable chance of hitting. Prop bets are harder to hit, so it’s best to choose a few main markets because although you won’t get the best betting value, it gives you a greater chance of winning.

Parlays strategies

Parlays are incredibly difficult to hit. For that reason are the preferred betting method for sportsbooks, as they make a killing off it. Parlays are hard to win because instead of betting individually on a single event, you’re taking on a greater risk by compounding your bets. Naturally, the more outcomes you choose, the less likely you’ll win your parlay. It’s truly the definition of high-risk, high-reward gambling.

With that said, there are a few simple strategies you can utilize to minimize your losses.

  • Include one or two favourites in your parlays. This helps increase your chances of winning.
  • For small parlays, it’s not a bad idea to put down a large wager since there’s less risk involved. Likewise, for larger parlays, consider placing smaller bets.
  • Check out sportsbook reviews to find out where you can get the best bonuses and promotions, such as free bets and credits. You’ll wager less from your pocket by taking advantage of betting site bonuses.