This article explains how to create a parlay on DraftKings, with clear steps for mobile and desktop, math that shows how payouts are calculated, and practical strategy guidance. It is aimed at sports fans who want a reliable, step-by-step approach to building parlays while managing risk. Read on for platform-specific instructions, examples you can reproduce, common mistakes to avoid, and simple practice methods to test parlay ideas before risking meaningful funds. The tone is educational and focused on disciplined decision-making rather than chasing large payouts.

A parlay combines multiple selections into one wager where every leg must win for the ticket to pay.

Combined odds multiply decimal odds from each leg to calculate total payout including stake.

Limit parlay stakes to a small percent of your bankroll and avoid correlated legs unless intentional.

What is a parlay and when to use one

A parlay is a single wager that links two or more individual selections, or legs, into one combined bet. All selections must win for the parlay to pay. Because each leg must succeed, parlays offer a higher potential payout than single bets, but they also carry greater risk because one loss cancels the entire ticket.

Side by side mobile and desktop bet slips showing a multi leg parlay summary with legs odds stake and potential payout on a dark Funded Plays style background how to make a parlay on draftkings

In simple terms, think of a parlay as a bundle. If you pick three outcomes and combine them, the sportsbook multiplies the odds of each leg to arrive at combined odds. That combined figure determines the potential payout for the stake you enter. Because of the multiplication effect, modest stakes can produce larger returns, which is the main attraction for many players. For a concise definition, see DraftKings support.

People create parlays for several common reasons: to amplify a belief about multiple games at once, to turn a small stake into a meaningful return, or to add excitement to a card of events. Parlays are not a substitute for disciplined wagering, and they are most useful when you want exposure to multiple predictions with limited capital.

Key constraints to keep in mind are straightforward. First, the number of legs allowed depends on the sportsbook and market type. Second, a single losing leg voids the whole parlay. Third, correlated selections can behave in ways that increase joint risk, and sportsbooks may restrict certain correlated outcomes within the same ticket. Understanding these constraints helps you decide when a parlay fits your objectives and when a single bet is the safer choice.

Try drafting a sample parlay in the bet slip

Try drafting a sample parlay in your bet slip to see how combined odds and potential return change as you add or remove legs.

Practice Challenges on Funded Plays

Step by step: how to make a parlay on DraftKings (mobile and desktop)

Mobile app steps

1. Open the DraftKings mobile app and sign in to your account. Navigate to the sport and event lists and find the markets you want to use. Tap an outcome to add it to your bet slip. Repeat this process for each selection you want as a leg in the parlay. See DraftKings help for official steps.

2. After adding two or more selections, open the bet slip. The slip often defaults to a single bet view, so look for a tab or toggle labeled Parlay or Multiples and switch to that view. The app will display combined odds or a potential payout for the current selection set.

3. Enter your stake in the parlay stake field. The app will update the potential return live based on the combined odds and the stake you enter. Review each leg, confirm market types and the combined odds, accept any terms or confirmations the app shows, and submit the parlay.

Mobile app steps

4. After submission, the app records the ticket in your open bets. You can monitor live progress, and if available, use cash out features to settle early if the platform offers that option for the ticket.

How do I create a parlay ticket on DraftKings so I can combine multiple selections into one wager?

Select two or more outcomes and add them to the bet slip, switch the slip to parlay or multiples view, enter your stake, review combined odds and legs, then confirm the ticket. Monitor the open bet and use cash out options if appropriate.

Desktop site steps

5. On desktop, open the DraftKings website and sign in. Use the left-hand sport menu or search bar to find events, then click outcomes to add them to the bet slip on the right side of the page. Add at least two selections to form a parlay.

6. Click the bet slip to expand it. If the site shows single bets by default, choose the Parlay or Multiples tab. The desktop interface usually presents combined odds and a preview of the potential return before you enter a stake.

7. Enter the stake amount in the stake box. The potential return updates as you type. Double-check each leg for the correct market and side, confirm any rules or terms displayed, and click the button to place the parlay. Keep a record of the ticket ID or screenshot confirmation if you prefer.

Placing the bet and confirming stake

8. Whether on mobile or desktop, read the bet confirmation carefully before you accept. Confirm the combined odds, the stake, and the listed legs. Watch for any disclaimers about correlated bets, same-game rules, or market restrictions that could affect acceptance. See an external step-by-step guide at RG.org.

9. After placing the parlay, monitor the ticket in your open bets view. If you decide to lock in profit early and the platform provides a cash out or partial cash out option, the interface will show the available cash-out value and the effect on potential returns for remaining legs.

10. Keep in mind that interface details can change with app updates. The core sequence remains the same: select multiple outcomes, open the bet slip, switch to parlay view if required, enter stake, review, and submit.

Choosing legs and building a sensible parlay strategy

How to select complementary legs

Start by choosing legs that reflect independent predictions you believe in, not just high odds for the sake of payout. Complementary legs might be separate games where matchups and situational factors align with your research. When legs cover distinct events, the parlay behaves more like a diversified bundle than a single correlated wager.

Avoid mixing too many selections from one game unless you intentionally want a same-game multi and you understand how correlation changes win probability. Selecting outcomes across different contests usually reduces hidden correlation and makes the combined probability easier to reason about.

Funded Plays Challenges

Practice Challenges on Funded Plays

Balancing odds and correlation

Each added leg multiplies uncertainty. Low-odds favorites add less variance but also reduce upside. High-odds legs raise payout fast but make the ticket unlikely to hit. When combining heavy favorites and longshots, be explicit about which outcome you expect to carry the ticket and whether the tradeoff in probability is acceptable.

Correlation matters because two related selections can both be influenced by the same event. For example, a starting pitcher removal affects both a moneyline and a totals market. Unless you account for that linkage, you may overstate the parlay's diversification and misjudge risk.

Bankroll and stake sizing for parlays

Manage stakes carefully. A common practical rule is to limit any single parlay stake to a small percentage of your active bankroll. Because parlays are high variance, keeping exposure low preserves capital through losing stretches and protects your ability to place single bets where edge exists.

Use consistent stake sizing and capped exposure rather than chasing large payouts. Treat parlays as occasional tools to amplify confidence, not as a primary growth method for your bankroll. If you use simulated funds or a challenge environment to practice, track results and adjust stake percent based on volatility and long-term outcomes.

Understanding payouts, odds math, cash out, and visibility

How combined odds and payouts are calculated

Parlay payouts are based on multiplying each leg's decimal odds to generate combined decimal odds, then applying that to the stake to find the total return. For clarity, convert common fractional or American odds to decimal format before multiplying. After multiplying, subtract the original stake if you need profit only.

Minimalist 2D vector infographic showing three linked betting legs converting into a single combined payout illustrating how to make a parlay on draftkings

For example, if two legs have decimal odds of 1.80 and 2.20, the combined decimal odds are 1.80 times 2.20, which equals 3.96. A 10 unit stake multiplied by 3.96 yields a total return of 39.6 units, which includes the stake. The profit in that case is 29.6 units.

quick parlay payout estimate from decimal odds

leave unused legs blank

Cash out and partial cash out options

Cash out features let you settle a ticket early for a platform-determined value, which can lock profit or limit loss. Partial cash out allows you to take a portion of the offered value while keeping the remainder active. These tools reduce variance but usually come with a tradeoff compared to waiting for final outcomes.

Understand that cash-out values reflect live probability and the platform's pricing, which may be conservative relative to a fully settled result. Use cash out when it improves your risk-reward profile, not simply to stop a losing streak. If you are tracking multiple parlays or mixing single bets, mark thresholds in advance for when you will accept a cash-out offer.

How DraftKings displays potential returns

DraftKings typically shows combined odds or a potential return on the bet slip after you select multiple legs. The display includes the stake field and a preview of the total return. Read the label carefully to know whether the number shown is profit-only or the total payout that includes your stake.

If you maintain a personal spreadsheet or use a parlay calculator, verify that the displayed return matches your calculation. Small rounding differences can occur, but large discrepancies should prompt a review of leg odds and any applicable fees or adjustments.

Common mistakes to avoid when creating parlays

Overloading many legs

Adding too many legs dramatically reduces the chance of winning because each additional leg multiplies the difficulty. A ticket that looks attractive because of its headline payout may have an insubstantial probability of success. Keep leg counts reasonable unless you accept the low hit rate as part of your strategy.

Instead of overloading with many longshots, consider limiting the number of legs or splitting risk across single bets when you find strong edges in individual markets.

Ignoring correlation

Many bettors accidentally pair correlated selections in a way that increases joint risk. For instance, betting a team on the moneyline and also taking a player props that depend on the same game situation can concentrate exposure. Review whether shared events or situational factors tie your legs together before finalizing a parlay.

If you want to exploit correlation deliberately, do so with explicit sizing and awareness that the joint outcome is more binary than diversified.

Chasing losses with larger parlays

After a losing sequence, the urge to chase with bigger parlays or longer leg lists is common but dangerous. Increasing stake sizes in response to losses is a form of tilt that undermines disciplined bankroll management. Predefine stake limits and stop-loss rules to avoid emotional escalation.

When tempted to chase, step back, review your selection quality, and consider using simulated bets or smaller stakes to validate any revised approach.

Practical examples: three parlay scenarios with math

Two-leg moneyline parlay example

Assume a two-leg moneyline parlay with decimal odds of 1.65 and 1.95. Multiply the decimals to get combined odds: 1.65 times 1.95 equals 3.2175. With a 10 unit stake, the total return is 32.175 units, including the stake. The profit equals 22.175 units.

This example highlights how modest favorites can combine into a payout that meaningfully exceeds single-bet returns while still maintaining a reasonable probability compared to longshot combinations.

Three-leg spread and totals mix

Mixing spreads and totals is common. Suppose you have three decimal odds: 1.90 for a spread, 1.80 for an under total, and 2.10 for a separate moneyline. Multiply them: 1.90 times 1.80 times 2.10 equals 7.182. A 5 unit stake yields a total return of 35.91 units, profit of 30.91 units.

Because the markets differ, assess each leg individually and confirm there is no unintended correlation between them. If one game outcome influences another leg, adjust expectations accordingly.

Longshot multi-leg example and expected risk

A longshot ticket with four higher-odds legs might show decimals like 2.50, 2.20, 2.00, and 3.10. Multiplying them gives combined decimal odds of 34.1. A 2 unit stake returns 68.2 units, profit of 66.2 units. The payout is attractive, but the hit probability is low. Treat such tickets as speculative and size stakes so they do not threaten your bankroll.

When you run scenarios, track hit rates over time to know whether longshot parlays are a productive part of your approach or merely entertainment with a low expectation of repeatable success.

Alternatives to parlays and when to avoid them

Single bets and correlated parlays alternatives

Single bets are the primary alternative to parlays if your priority is risk control and predictable variance. A well-researched single bet preserves edge and makes performance easier to evaluate. If you identify clear advantages in individual markets, prioritize singles over bundling them into parlays.

When correlation matters, consider structuring bets so you can manage exposure separately rather than locking all legs into one ticket.

Using round robins or same-game multis with caution

Round robin bets let you create multiple smaller parlays from a set of selections, reducing dependency on every leg but increasing total stake. Same-game multis combine multiple markets from one game and can be useful, but they often involve correlation and different pricing rules. Use these alternatives with explicit sizing rules and an understanding of how each format changes risk.

If you seek more systematic exposure, round robin structures can smooth variance compared to a single multi-leg parlay, but they also increase total outlay because you place multiple tickets.

When a parlay is not the right tool

A parlay is not appropriate when you have a strong edge on single markets that are more valuable to stake individually, when the legs are heavily correlated without clear reason, or when your bankroll cannot tolerate high variance. Avoid parlays if you are trying to recover losses quickly, because they amplify variance rather than reduce it.

Choose alternatives that align with long-term goals, such as steady growth through singles, or controlled variety with round robins that limit all-or-nothing outcomes.

Summary and next steps to practice safely

Key takeaways

Parlays link multiple selections into one bet and multiply decimal odds to calculate payout. They increase upside at the cost of higher variance and a lower probability of success. Use parlays selectively and keep leg counts and stake sizes aligned with bankroll rules.

Practice building parlays in small increments, verify combined odds with a calculator before you submit a ticket, and avoid correlated picks unless you intentionally design for that exposure.

How to practice building parlays responsibly

Start with simulated funds or very small stakes to test how your selection process performs over time. Visit Funded Plays to review resources. Track results, record why you chose each leg, and analyze which types of parlays contribute positively to your objectives and which drain capital.

Finally, always review market rules and cash-out options before placing any parlay. Clear rules and disciplined sizing are the best tools to use parlays as occasional instruments rather than primary growth strategies.

What is a parlay and how does it differ from a single bet?

A parlay combines two or more selections into one wager where every leg must win for the ticket to pay. A single bet is one selection; it wins or loses independently of other markets.

Can I cash out a parlay early?

Some platforms offer cash out or partial cash out for parlays. The available value depends on live probabilities and platform pricing, and using it reduces remaining ticket exposure.

How should I size parlays relative to my bankroll?

Limit parlay stakes to a small percentage of your active bankroll, use consistent sizing rules, and avoid increasing stake size after losses to protect capital.

Parlays are useful tools when used selectively and sized responsibly. By following clear selection criteria, confirming combined odds before submitting, and practicing with small stakes or simulated funds, you can use parlays as occasional instruments to complement a broader prediction strategy. Keep records, stick to stake limits, and review market rules and cash-out options before placing tickets to maintain consistent, disciplined performance.

What is a parlay and when to use one

Try drafting a sample parlay in the bet slip

Step by step: how to make a parlay on DraftKings (mobile and desktop)

Mobile app steps

Mobile app steps

Desktop site steps

Placing the bet and confirming stake

Choosing legs and building a sensible parlay strategy

How to select complementary legs

Balancing odds and correlation

Bankroll and stake sizing for parlays

Understanding payouts, odds math, cash out, and visibility

How combined odds and payouts are calculated

Cash out and partial cash out options

How DraftKings displays potential returns

Common mistakes to avoid when creating parlays

Overloading many legs

Ignoring correlation

Chasing losses with larger parlays

Practical examples: three parlay scenarios with math

Two-leg moneyline parlay example

Three-leg spread and totals mix

Longshot multi-leg example and expected risk

Alternatives to parlays and when to avoid them

Single bets and correlated parlays alternatives

Using round robins or same-game multis with caution

When a parlay is not the right tool

Summary and next steps to practice safely

Key takeaways

How to practice building parlays responsibly

References