FanDuel Sportsbook is offering NBA Parlay Insurance for all bets with four-plus legs. Sportsbooks started offering parlay insurance to entice more bettors into making parlays. If you lose a parlay by just one leg, the insurance will cover some of your losses with a small refund. Let’s say you make a 5-leg parlay on the FanDuel sportsbook with their multi-sport parlay insurance promotion.
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If you have been on FanDuel Sportsbook in New Jersey recently, you may have noticed a new parlay betting option — the Same Game Parlay.
The lure of any parlay bet is the potential for a big payout. That big payout comes at a cost, though. In this case, the cost is a parlay bet that is difficult to win.
It is not easy to pick several winning bets from different games to combine into a parlay and have them all win.
Same Game Parlays are different, though. A Same Game Parlay combines bets from, well, the same game.
The big question is whether the Same Game Parlays are a good bet. Like with most things related to sports betting in New Jersey, the answer isn’t a simple “yes” or “no.”
What is a Same Game Parlay?
Before you can decide if Same Game Parlays are something you want to try, you should understand what they are.
The Same Game Parlay links individual game outcomes into one bet. For instance, a bettor can create a parlay from one matchup that includes:
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- Point spread
- Over/Under
- Half-time result
- Home team points
- QB passing yards
Because the bets are correlated, the odds are adjusted to avoid too much of an edge for the bettor.
Correlated odds are simply when the outcome of one bet impacts the outcome of another.
The Same Game Parlay is designed for the bettor with the knowledge and focused interest on one team.
And, at the very least, the Same Game Parlay will liven up any game-day watch party.
How to place a Same Game Parlay at FanDuel
FanDuel Sportsbook makes placing a Same Game Parlay bet easy.
- Find your matchup and click on the Same Game Parlay tab.
- Evaluate your options and select your bets.
- Track your bets on the “Live Bets” tab.
Are Same Game Parlays a smart bet?
Same Game Parlays sound like fun, but are they a smart bet? Well, they can be.
Same Game Parlays may give the illusion of benefiting the bettor with a lot of background on a specific team. But like all bets, if it is offered on a New Jersey sportsbook app, such as FanDuel, it is because the book believes it has an edge.
This doesn’t mean an adept bettor can’t use their knowledge about a team and create a Same Game Parlay that produces a winning ticket.
Why bet on Same Game Parlays?
If you are hoping to pay your mortgage with your winnings, then a good rule of thumb is don’t bet on Same Game Parlays.
But if you are looking for some entertainment value from a specific game, then a Same Game Parlay may be just the ticket.
There is no denying watching a game is a lot more fun with some skin in it. If you look at a Same Game Parlay as an entertainment cost instead of income, you will win either way.
You can reduce some of the risks of a Same Game Parlay bet by looking for bonus bet and promotional opportunities. When an online sportsbook perceives it has an edge, they often encourage bettors to try their luck with promotions that can include:
- A form of insurance
- Bonus bets
- Cash back
The bottom line is it comes down to doing your homework.
Studying the team that you are betting on and looking for promos will certainly help move that house advantage a little closer to your side of the ticket.