parlayA parlay gives sports bettors an exciting way to earn a large payout despite betting a relatively small amount of money. For each leg, the bet rolls over, or parlays, the winnings into the nextConversely in a parlay, you still wager on two teams but with the orinal spread and with better payout odds (usually 3:1). Teasers and parlays can be played with 2,3,4,5 teams or more.