Learning sportsbook vernacular is something like picking up a foreign language on the fly. Except instead of asking “Parlez-vous français?” the question is more apt to be, “How do you place a parlay wager?”
Or, in the case of two PA online sports betting sites, “What’s a Jackpot Parlay?”
What is parlay betting?
Let’s start with the simple definition of a parlay.
A parlay bet is a single sports wager made simultaneously on the outcome of two or more teams winning.
The appeal of parlay betting is a larger payout than choosing a single team to win.
Larger payouts for a parlay make sense since picking an individual winner is difficult. Picking more than one winner is harder. But then the reward for winning is larger.
How does the Jackpot option work?
That brings us to Jackpot Parlays, which offer a quick and inexpensive way to get into multiple sports games wagering.
A Jackpot Parlay is the equivalent of a quick-pick lottery, but a quick-pick chance that’s also a sports bet.
A traditional parlay wager is made by a bettor picking two or more outcomes, and not necessarily in the same sport. That usually means an investment of time and research to craft your bet.
A Jackpot Parlay lays out the options for you, minus the time studying up.
The betting option from PlaySugarHouse and BetRivers automatically puts together the bet for you. These bets can range from three to eight legs.
There is an amount of instant gratification to these bets too. The sites allow you to choose from a selection of events happening in the next four hours or events happening in the next 24 hours. There are no multi-day Jackpot Parlays though.
These bets, which can cost users as little as $.10 can yield some massive paydays if you are lucky enough to hit every leg. Be aware though that the odds on Jackpot Parlays, just like lottery quick picks, are very long by design.
How to place a Jackpot Parlay
A graphic icon labeled “Jackpot Parlay” is on the Sports Betting section of SugarHouse and BetRivers mirror sites.
Start by clicking the “Bet Now” button.
By default, the Jackpot Parlay selects a combination of eight randomly selected bet options.
At the top of the screen, you can see the potential payout if all of the bets are winners.
If the selections suit you, then you can click on “Place Bets.” You can choose an amount to wager with Place Bets, too. The potential payout shows at the bottom of the screen.
What are the Jackpot Parlay options?
The sites and their apps allow bettors some options. A bit of strategy can even come into play.
Here are the options:
- Choose the sports you want to bet on.
- Pick the time period for settling the bet. You can only wager on live events taking place within a 24-hour time frame.
- Choose the number of bets you want to have in the Jackpot Parlay. Three is the minimum.
- Pick the amount you want to bet, beginning at 10 cents.
You also have the option to remove one or more bets from the list by clicking on the “X.”
Recreational bettors are the target audience for Jackpot Parlays. These bets feature long odds but give someone who just wants a little money on the action something to root for, namely, the hope of a big payday.