There are several different types of parlay bets that you can make, and it’s important to choose the one that is right for you. We have already mentioned that trying to understand parlay betting can be extremely difficult, but we will try to break things down into more detail below. Some sports bettors see huge dollar amounts when filling out a parlay slip, and they are addicted to the possibility of winning some big money. If it is one of the most difficult bets to win, then why is it also extremely popular? Well, since it is a combination of a bunch of smaller bets, the payout is much larger, and it can actually be a substantial amount. It is difficult to win any bet that you place on sports, and so naturally, winning a parlay bet is extremely difficult. A parlay bet is a combination of several individual bets, and all of them have to be correct to win the wager. A parlay is a type of sports bet, but it is definitely one of the more difficult ones to win and to understand.